With Bitcoin, the candle highs and lows are easily manipulated due to the size of the market. The best way to represent trendlines are thus to base off the candle close. This is the one I'm monitoring on the daily chart. But again, I'd only declare it broken if a candle actually closed beneath it.  |
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Why the need of constantly upgrading something if its already good enough?? this kind of news is surely from bears.
It might be 'good enough' for today, but certainly not for tomorrow. Bitcoin needs a more decentralized PoW model and a way to scale to 1000's of transactions/sec. No. PoW will never change until it's broken. |
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I wouldn't be surprised to see it broken. But it won't be because we're headed down long-term. It will be because it will allow big investors to get some cheap coin.
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If bitcoin drops below $500 I'll eat my girlfriend edible panties (assuming I can find a place online to purchase a pair with crypto)
Ok, but they must be worn by fonzie at the time. |
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If I were going to place a bid on a blind auction to buy bitcoins, and the auction was going to be closed in a couple days, I would put a bid in at $541.00 or $551.00. There seems to be good technical support at those areas and I would feel like there would be a good risk/reward ratio. I'd feel like I'd be able to make some money on a trade (eventually) and/or it would be a good price for a long term hold as well. If I didn't win I wouldn't be too disappointed. If I did win, I'd feel pretty certain I'd be able to do well either trading out or holding. Remember, I'd have to take out $200K out of money for the deposit that was otherwise working for me elsewhere, and the time-cost involved for the auction.
Where would you place your blind bid today for any amount of bitcoin?
Nick
I'd place my bid high enough to trigger a massive bull market. The small amount it would cost me would be well worth the huge spike in value for my entire portfolio. |
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Progress on the ACH protocol has ground to a halt! Abandon the US Dollar now!
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Why not just go for something like Tradestation, but for cryptocurrency markets?
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See this is why we need support for a decentralized web. If governments can keep the masses from accessing our decentralized currency by intercepting at the website front-ends, Bitcoin will become inaccessible to most of the world.
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We need a decentralized web in general. All websites should be hosted like a torrent. We'd need to handle web apps differently, probably like Ethereum and NXT handle running apps.
That's what projects like Coinffeine can help with. There is also LocalBitcoins for basic in-person exchanges. Things like that are nearly impossible to shut down. If and when we start seeing more decentralized services gain strength, like Coinffeine, OpenBazaar, etc. adding front-ends to link them will certainly be a good idea. For now my primary focus is on building tools to help people make money  Does anyone have any thoughts in that regard? Is this a good idea? I don't want to sink a lot of effort into a site nobody will use. The only thing I can think of along your original lines is giving ordinary folks the ability to arbitrage between the exchanges quickly and easily. |
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We need a decentralized web in general. All websites should be hosted like a torrent. We'd need to handle web apps differently, probably like Ethereum and NXT handle running apps.
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Since people are still digging this thread, here's my latest prediction: BTC will NOT hit $4800 this year; in fact, BTC will stabilize at around $600 for the rest of the year. Please bear in mind that NONE of my previous predictions came true.  Ok. But can you please clarify. Do you actually believe your prediction? Or should this be treated as a double-negative here? |
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If you can make your website into a front-end for P2P exchanges, you will become the new de facto exchange for all BTC/USD trades. This means you will effectively be an escrow service that matches orders, and you will not store any USD or BTC yourself. This would be the ultimate in a trustworthy exchange. It can be done. You can make it look like any other exchange for ease of use. You can still collect trading fees for your services, etc. So it will still be profitable. Any interest?
Are there any successful P2P exchanges? I know Coinffeine is just getting started, but I think there will always be a need for centralized exchanges. There are ones that do a decent job, like Kraken and Bitstamp. So a mixture is probably what we'll see. The promise of high volume P2P exchanges seems a ways off though, IMO  Is there some need you think isn't being met? Yes. I'd like to help our friends in countries that have banned Bitcoin, and prepare in case a ban comes closer to home. Bitcoin need a decentralized exchange that cannot be taken down by any government. |
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If you can make your website into a front-end for P2P exchanges, you will become the new de facto exchange for all BTC/USD trades. This means you will effectively be an escrow service that matches orders, and you will not store any USD or BTC yourself. This would be the ultimate in a trustworthy exchange. It can be done. You can make it look like any other exchange for ease of use. You can still collect trading fees for your services, etc. So it will still be profitable. Any interest?
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I'd be interested in hearing how he is presenting the BTC data to the neural network. I once saw someone present dates along with price data to a neural network he designed. It ended up fitting itself to the dates, buying and selling on specific dates, without really looking at the prices at all. Suffice it to say that doesn't work in forward-testing with out-of-sample data.
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BBB: https://www.youtube.com/watch?v=vwvySkrUBlA&feature=kp"If you think bitcoin should work within our current systems, if you get excited when entities of authority acknowledge it, if you hope for its taxation and regulation, then you are thinking basic. No, you are worse; you are pandering." |
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You mean you have few enough model parameters to make overfitting the given data unlikely. Yes?
That's not possible for a neural net. The weights assigned to each node of a neural net can hold an enormous amount of data. A trained neural net by definition fits to the input data. You don't see it if you examine the node data because that data is spread throughout the entire network. |
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I think due to the fact that so many people here have so much complete blind faith that it will reach extremely high levels, that it will never happen. It's too easy, too expected. If something is too good to be true then it probably is.
That...actually makes the most sense. Let's hope you're dead wrong lol. Gold only has value because people are as crazy for it as we are for BTC... I'll let you guys figure out what I am getting at. That and a few thousand years of gold hoarding tradition. Until un-backed fiat came into vogue, everything was settled in physical or 1:1 gold notes. Bitcoin has 6 years of hoarding tradition? And an unlimited number of cryptos can be propped up to spar with Bitcoin? I'd say tread lightly. The landscape will be totally different in 5 years, and I'm not confident Bitcoin will remain on top in the crypto world, let alone the physical world. A large number of rare materials can be propped up to spar with gold; silver for example. What keeps gold on top? |
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Alright. So when FBI sell seized btc, the price will go down?
a) The coins being sold this week aren't actually all that numerous. b) The seizure of the coins resulted in a price drop that took into account the eventual sale long ago. This negative price pressure will be removed once the sale is complete. c) The buyer is unlikely to sell the purchased BTC for at least a year to ensure qualification for the lower long-term capital gains rate. Depending on the buyer, they may have no intention of selling at all, ever. The net sum of these is a bullish outlook after the coins have been sold this week at auction. |
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So, what project are you managing at JP Morgan? New JP Morgan coin? The conflict of interest here is amusing. |
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