That means we can't sell miners on ebay?
Saw this on reddit: http://www.reddit.com/r/Bitcoin/comments/1g23w2/paypal_email_to_employees_policy_regarding_bitcoin/From a friend in Paypal, got this in an email today:
Clarification on Bitcoin merchants using PayPal 6/10/2013 8:58 AM (-05:00) Impacted market: EMEA
We’ve received a number of escalations regarding Bitcoin merchants using PayPal. Any merchant seeking to sell or buy Bitcoins with PayPal is operating as a financial exchange. Please be aware that Financial Exchange merchants are prohibited unless pre-approved by PayPal. This process involves getting VP approvals from both Risk and Compliance, and only licensed financial institutions are considered.
Merchant contacts
If we receive contacts on Bitcoin sales, instead of escalating further, kindly advise customers that they need to be licensed financial institutions to be considered for approval. However, there are some acceptable cases, as outlined below.
Acceptable Bitcoin business models for PayPal
Merchants with a business model that is related to Bitcoin but does not sell Bitcoins may be acceptable. For example: Merchants offering Bitcoin education packages Merchants selling computer hardware designed specifically for mining Bitcoins. In this case, kindly ensure that the merchant isn’t pre-selling and actually has the equipment ready to deliver.
Please note – All Bitcoin-related e-commerce should be considered high risk. Any thoughts? |
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Put all your eggs in one basket and then watch that basket. However, defaulting in loans is lame and that's what happens when you overinvest because you will be surprised by volatility one day.
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are you saying you never hold overnight? I've been following EMA / MACD on 10-day timeframe as well as 2-month an am sometimes surprised by a 10-point overnight drop where I miss an exit... I'd think the ability to generate real time alerts would be key to trade these kind of signals given that the market is often active 'after hours' as Japan awakes, etc...
He trades off of 10 day and 21 day moving averages. |
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~ $92.50 then we run for $104
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I should have been more specific. I meant where can I get these for .1 BTC, I guess it's still just a rumor though...Unless it isn't... Even if the rumor is true, you can't get them for 0.1 unless you already paid 0.99 for them. The rumor is a price of 0.6 in general and repeat customers can get X at 0.1 where X is how many they bought at 0.89/0.99. However, at the moment you can't get them for 0.6 except maybe for some used devices. Until Friedcat makes an announcement, price is still 0.89/0.99 (customers with 1000+ orders get the discount). |
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Can we officially say this is not a rumor at this point? Are people getting it just not US group buys so far?
Have you seen an official announcement? Have you reached out to friedcat about this? If friedcat was ready to make an announcement, friedcat would make an announcement. As usual, people are jumping the gun. |
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I agree with your prediction, but the 1.2k required is not a whale buy, by my standards. Make it 6,000 - 7,000 BTC or more, that's a whale buy.
Ignore the order book. It is not representative of the actual volume required for a move. Orders disappear and some pop up as soon as there is movement. I get your point and agree, there is an invisible wall at 97.xx, and sell orders may pop out of nowhere once that is reached. So yes, probably another whale buy would be needed to breach that invisible wall, if the wall doesn't move. I mean, it's kind of stupid not to let the market move higher so they can sell at a higher price, doesn't make sense to me. Unless they know there are many who would sell at 97.xx and just want to sell first. Bears who aren't prepared to give up their thesis will attempt to defend their position. |
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ASICMiner products probably exceed 30% of the hashrate share already. But you have to realize this:
ASICMiner valuation = (ASICMiner hashrate share + ASICMiner customer hashrate share) * mining share of bitcoin valuation * bitcoin valuation
I highly doubt all mining makes up 30% of Bitcoin's industry, let alone a part of mining.
I highly doubt money supply = GDP. They have different units, so I fail to see how they can even be compared. You were the one that compared it to "Bitcoin's industry". I mean "industry" as in "tourist industry". Making up 50% of industry does not mean making up 50% of GDP. What I'm comparing is money supply to stock supply. If ASICMiner is valued at greater than all BTC combined is valued, then it follows that ASICMiner must have revenues separate from Bitcoin. This is not true, so ASICMiner stock will be capped.
No, it doesn't follow. Both incorporate future expectations into their valuation, so it's not so simple as you imply. They also have vastly different velocities (turnover of shares/coins). Why would the future value of ASICMiner exceed that of Bitcoin? Unless ASICMiner is expected to make forays into mining diamonds, this doesn't make much sense. Do you really think everybody who buys mining hardware will turn a profit in bitcoin terms? |
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I agree with your prediction, but the 1.2k required is not a whale buy, by my standards. Make it 6,000 - 7,000 BTC or more, that's a whale buy.
Ignore the order book. It is not representative of the actual volume required for a move. Orders disappear and some pop up as soon as there is movement. |
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Higher resolution would help too. Prices are blurry.
for some reason the quality currently sucks really bad (doesn't on my end). maybe it'll get better once the youtube re-encoder has finished his duties for higher qualities or something
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ASICMiner products probably exceed 30% of the hashrate share already. But you have to realize this:
ASICMiner valuation = (ASICMiner hashrate share + ASICMiner customer hashrate share) * mining share of bitcoin valuation * bitcoin valuation
I highly doubt all mining makes up 30% of Bitcoin's industry, let alone a part of mining.
I highly doubt money supply = GDP. They have different units, so I fail to see how they can even be compared. You were the one that compared it to "Bitcoin's industry". What I'm comparing is money supply to stock supply. If ASICMiner is valued at greater than all BTC combined is valued, then it follows that ASICMiner must have revenues separate from Bitcoin. This is not true, so ASICMiner stock will be capped.
No, it doesn't follow. Both incorporate future expectations into their valuation, so it's not so simple as you imply. They also have vastly different velocities (turnover of shares/coins). |
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inspired by adams chartbuddy conglomeration post, I just made a chartbuddy video starting mid-may. http://youtu.be/ifKS-UebUCIfor some reason the quality currently sucks really bad (doesn't on my end). maybe it'll get better once the youtube re-encoder has finished his duties for higher qualities or something.Awesome. If only you could align the prices between charts it would be even better. But I imagine that would be a pain. |
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What can I say? Congratulations! Would you mind predicting another whale buy? Currently we have a standoff: nobody wants to breach the invisible sell wall at 72.xx, and at the same time the buy wall at 96 seems solid (this may change in seconds though). I won't get much sleep tonight...  No, I don't mind. In fact, I see it as 70% likely we will breach the recent $97.48 high within 12 hours. I don't know that we will go very much higher than that though. |
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ASICMiner products probably exceed 30% of the hashrate share already. But you have to realize this:
ASICMiner valuation = (ASICMiner hashrate share + ASICMiner customer hashrate share) * mining share of bitcoin valuation * bitcoin valuation
I highly doubt all mining makes up 30% of Bitcoin's industry, let alone a part of mining.
I highly doubt money supply = GDP. |
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@WebSlicer point your devices at several different pools for a week or two to get a representative sample of pool payouts . I guess you could use a spreadsheet if you really want to be pedantic.
If you have, or better if I had, 1.5 TH/s I'd go solo, it takes some work to set it up correctly, though. spiccioli ps. As you may already know my second choice would be HHTT  Solo mining? Pick a pool, any pool. mine for two weeks. Look at how many blocks you found. compare your return for those blocks if your were solo (most likely 0) against how much you made in the pool. go with which ever mode you would make the most money. With solo mining @ 1.5 TH and current difficulty, you would average slightly less than a block a day (24.1345 BTC/day). You would have to be tremendously unlucky to find 0 blocks in two weeks. |
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Nope, it looks like a bull trap to me. Small spike to (maybe) 95, then a massive drop to 70 or lower.
Bulltrap keeps occurring... until it doesn't Yes indeed, 2 whale buys proved me wrong. If it weren't for those 2, price would be around 91-92 right now, heading towards a panic sell. I can't predict whale buys. That's funny, because strong buying was exactly what my analysis predicted. |
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Stable is good.
Stable is not good. According to merchant reports, more bitcoin is spent when it is falling or rising than when price is stagnant. Falling prices encourage people to spend because they fear further loss. Rising prices encourage people to spend due to the wealth effect and the nagging feeling that price is bubbling. Sure, in some magical fairy tale land where you can spend bitcoin everywhere we might be able to cheer bitcoin for being a stable currency. But that fairy tale scenario will create stability. Stability won't bring us to that fairy tale. The road to mainstream bitcoin is going to be bumpy, but that's how people stay interested. |
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I wonder what kind of PPS a Parallella can achieve. At $99 I'm about to buy one.
ARM chips are embedded processors designed for phones and other portable devices - performance is not a top priority, low power consumption is. I wouldn't invest personally. The ARM is just the host processor. The Parallella also has and FPGA grid and even more interestingly, a grid of custom parallel processors which would likely handle big int math well. |
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First it's important to note that Ripple is not a currency, it's a global payment network that costs virtually nothing to use. Within this payment network you can use any currency you choose. USD, EUR, YEN, BTC, LTC, PPC or any other currency there is liquidity for. I say this because it's important to know what you're investing in. It's not Bitcoin. It's a true protocol like http, not a single crypto currency.
Is Ripple actually gaining any traction as a payment network? I've yet to see a single business accepting XRP or payment through Ripple network, or hear about any major/regular transaction going through it.. Are there any stats about this out there? No, there is no liquidity besides Bitstamp, basically. No vendors accept XRP for payment. It's basically speculation for XRP only, and it's highly illiquid. XRP is highly prone to manipulation, much more so than BTC. A single entity can easily dump the value of XRP to oblivion. Indeed, a single entity dropped something like 6 million XRP onto the ask book (9-10 XRP above spot, mind you), and that alone has caused the value to plummet from mid-70s, now to the 180s. It's too bad Ripple is tied to Open Coin. As a payment system, it's pretty brilliant and has a lot of potential to be extremely versatile for payments/micropayments. But the supply of XRP is completely fucked, fuck holding it. At the same time, since Ripple has virtually no liquidity, there is really nothing to be done but trade in and out of XRP. Can somebody actually explain what XRP is other than another centralized e-currency like Liberty Reserve? Ripple is a p2p lending network where payments and defaults "ripple" through a chain of trust. It will be repeatedly abused by scammers until it is abandoned except as possibly an inter-exchange lending network. XRP is how you pay transaction fees on the Ripple network. |
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f. He was still in possession, at the time of the interview, of approximately
100,000 BTC (Id.).
 Shavers claimed to generate additional returns for BTCST investors, up to 4% daily,
by lending BTC to an online service which provided users with leverage for purposes of trading
BTC on BTC currency exchanges. (Id.)
Bitcoinica? |
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