The brokerage would maintain account balances with many exchanges and provide data feeds to their customers with the consolidated order book, etc.
+1 Let the exchanges focus on building a rock-solid exchange. Brokerages will handle the account balances. it will lead to a much more secure system. I also like the idea, but I think it is going to take a while until it happens... For now I would be happy with more volume. |
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Maybe they've realised that they have been hacked?
They were doing updates last night. Give them some time. |
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I'm still on the fence here but if there is a third attempt and another bounce, it might just spark a much bigger bounce because the support at $2 can be said to be very strong at that point.
This is definitely interesting, if $2 support is that strong we might not see a new low at least in the short term. But for any longer term change I'm waiting for a low that stays as the low for at least a month.
I also agree with this and I would love to have a stable price for one month  |
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So, the news is: burst bubble, major exchange hacks, bitcoin bank disappearing, wallet stealing malware, 90%+ fall in value from peak, negative media sentiment, web sites claiming bitcoin is a pyramid/ponzi/etc scheme.
Not really. Most of the news are just 90% price drop. Some people see it as an investment opportunity, but maybe that's not the feeling of the majority of the speculators... |
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I don't have much experience in this, but isn't this something that people usually do "outside" the exchanges? What you are proposing eliminates arbitrage for example. I also see lots of other complications. For example, the money I have on one exchange would need to be available for all the others. Isn't that just like merging all exchanges into a big one?
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that is what bit-pay does but how do I use it to wire money to Brazil or wherever?
You don't because they only do it inside USA. According to them, they would need to have an office in each other country in order to take their business internationally. They could start with England maybe. IntersangoGBP has a reasonable liquidity I think... Anyway, they currently only work with merchants so even if they had an office in Brazil, this kind of money transfer could be subject to other types of regulations. Actually, I would like to know what are the legal implications of doing this kind of service. |
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What is stopping someone from having it setup this way.
Person A wants to send money to person B
Person A sends 10 bitcoins to an exchange
The Exchange autosells the 10 bitcoins at market rate
Person B gets the 25 bucks.
technically it should cut down on transaction costs until the exchange wanted to bill like western union... but I don't know how that system works 100%.
That's what bit-pay does. This would interesting if it could be done between different countries. The greatest problem I see right now is the lack of liquidity outside of USD exchanges. |
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Here is something that might help you: World-wide price for generating 1BTC Anyway, good luck with that. Just let me tell you that what you are proposing sounds unrealistic because 1) the $/BTC can't be calculated accurately and 2) speculators couldn't care less about that. |
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I am developing a program that monitors the transaction.
The first question is that how I know there is a new transcation? I can consider the command ListTranscation. However, there is a bit issue about this command I post in another thread. In short, I can't list transaction from all account by NOT provide account.
Even if it works for me. The API says:
listtransactions [account] [count=10] [from=0] Returns up to [count] most recent transactions skipping the first [from] transactions for account [account]. If [account] not provided will return recent transaction from all accounts.
It returns up to [count] most recent transaction. How do I know how many transaction is new after I read last time? If I set count as 10, but there is 11 new transactions if I get busy, then I miss one. So I have to set count parameter an unreachable number, say 10000, and check it every second to make sure I never miss one transaction?
Or is there an alternative way to check new transaction?
In this forum section these sort of questions sometimes don't reach the right audience. If you don't get a good answer (or if you don't get out of the newbie status), you can always try to ask it at the Bitcoin Q&A |
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do you actually give your mtgox login and password to this site?
No. You can enable the API key and use that. |
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I gotta wonder, don't bots just follow the swings so as the price steadily drops, you end up with more bitcoins but less USD$ worth of bitcoins?
Yes. If your bot keeps a lot of bitcoins (say 50% bicoins, 50% usd) then you have been losing money. |
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i lost a lot in mybitcoin so i dont really like to keep any in wallet or exchanges because centralisation of a decentralised currency doesn't seem like the best idea
I understand your concern and unfortunately there is not an easy way to get market prices quickly. The best option would be to make regular small deposits at MtGox and TradeHill and spend the coins from there. how much would you reocmmend for speculation Speculation money is money you must be prepared to lose. Bitcoin is a high risk investment so my best advice is: not much and definitely not money you need. It really depends on your experience as a trader, your knowledge of the bitcoin market, if you like to take risks, etc. |
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i've been converting my income to BTC then buying food with it to support the bitcoin economy but i don't know how much longer i can keep this up
Don't do this. Instead, deposit part of the money at an exchange and buy coins only when you need to spend them. The process is instantaneous so there is no need for you to hold bitcoins for more than a few minutes. I also try to shop with bitcoins when I can, but I never hold on to them (except for the money I set aside for speculation). |
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uh, probably not. i'm guessing as small time miners withdraw from pools due to falling prices and rising mining costs, the larger solo miners are taking up a larger slice of the pie. so that chart should really read, "pools here and everyone else there"  I agree. And these are good news because decentralization is increasing. |
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I am really surprised that there aren't any other options for this. We basically have cinfu - pretty unknown until they started accepting bitcoins - and kalyhost which is also ran by tibanne. I think that VPS is a service that a lot of people would want to pay with bitcoins...
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Buy and sell orders are still occurring, nothing looks fishy on that side.
My bot is still running. |
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Today and yesterday I saw a lot of reports about the price drop. It appeared on slashdot, arstechnica, ieee, all over twitter, etc. Could this mean that new people will be entering the market and drive prices up (specially if they think that right now is a buying opportunity)? I wasn't here around June when the media exploded with bitcoin news so I am not sure if this resembles what happened at that time... |
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I'll make an offer - 31BTC. If that sounds OK to you, PM me and we can sort out the details.
Thanks for the offer, but I just solved the problem with Yankee's help. |
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How many bitcoins do you want for it? How big of a discount would you give to help you out?
It's not a big amount so the discount could be around $10, but it depends on the offers I receive. |
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Há por aqui muitos portugueses? Costumam fazer mining, especular no mercado ou nenhum dos dois? E há projectos em desenvolvimento? Reparei que no sapo code bits deste ano alguém vai fazer uma apresentação sobre bitcoins. Se conseguir ainda lá dou um salto.
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