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1261  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 25, 2014, 01:49:31 AM
Once recorded in the blockchain, that transaction is REAL
I'm sorry to be the bearer of bad news, but this isn't true.

Transactions in the blockchain never become fully real, because Bitcoin doesn't solve the distributed consensus problem. Nothing solves the distributed consensus problem because it's not solvable.

Bitcoin almost solves it, and transactions asymptotically approach a completed state, but no transaction is ever truly confirmed.





Close enough for practical purposes, though.

very well put, and emphasis mine.

I also anxiously await, and almost fear, a provable computational way to fix that problem.

but the distributed consciousness problem is eerily similar.
1262  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 25, 2014, 01:19:19 AM
The bitcoin market is very emotional. It moves up or down on whim. The SR coins are just an emotional thing, I think. For some reason people think that the price the 27k coins are sold at will set a precedence for the coins going forward.

well, I have to admit that to me personally, the auction is the most interesting thing going on in bitcoin right now. (second place, mining, third place, sci-fi physics mumbo-jumbo)  Grin
1263  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 25, 2014, 01:07:17 AM
i see there was some bouncing around while i was gone  Smiley  strong bounces, this thing is pretty much ready to move!  Cool

I'm expecting either a strong bounce from this line



or more waterfalls...

or just sideways 'till the auction

or, I really don't know anymore, I started listening to some guy talk about consciousness and reality and watching bitcoin prices and wondering about the relation between adoption and valuation and how a "particle" approaching a pair of slits is not really a particle until someone has observed and taken note of which slit it went through, recording the information in our consciousness, and how that is similar to a transaction before it is recorded in a block. Once recorded in the blockchain, that transaction is REAL ... or at least real in the terms that we can perceive it from within our own little reality bubble.

sorry for ramble, need more beer
1264  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 25, 2014, 12:41:26 AM
This is bad, we are touching the Long term trend line at Stamp at 572 and nobody is buying wtf???


Of course nobody is buying. There is a huuuge major event coming up that controls the whole market and could put us down by a massive amount.
I know about the silk road auction and I know that until the 27th we won't see huge spikes, I'm just saying that nobody seems to be defending the VERY important long term trend line. A Big dump could take us way below that trend line, which would be TERRIBLE for BTC.

I like lines!

which line were you referring to exactly?

this line?


or this one?


or some other line???
1265  Alternate cryptocurrencies / Mining (Altcoins) / Re: Swedish ASIC miner company kncminer.com on: June 24, 2014, 02:49:15 AM
must have got my tracking number sometime last night as well.
It appears they are actually shipping en masse.
did anyone notice if the hashrate spiked then dropped recently? <smirk>

I believe that the network hash rate is unknown and must be statistically inferred from number of transaction blocks found by the network in a given period of time taking into account the current difficulty.  Due to the probabilistic nature of solving a block, there is some inherent variance (which is also called luck) in the network hash rate.  This might be why it appears to be changing quickly.  I don't think you can pin it down to KNCminer at this time but certainly if you watch the rate over a longer time-frame it might be more telling.

Wait to see what the final figure is at diffchange time... any guesses?   
I'm guessing over 40% at this rate...

 My bet is 32%.  KNC has to be somewhat careful as batch 3 hasn't sold out yet Wink


Poor KnC only found 9 blocks today. That's over a 50% drop from a few days ago. What are they going to do only making $120,000 a day? We may need to start a foundation to support the starving bitcoin hardware manufacturers.

y u miners no mine while shipping?

anyways, I'm glad to at least have a little piece of that hashrate when it floods the network again in a couple days.
1266  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 24, 2014, 02:13:50 AM
until they get broken, I'm probably not going to trade very much, currently have almost all fiat and crypto out of exchanges and on the sidelines.
I hope you don't trade when the upper line is broken.  After 800 there is no resistance to speak of.


I'm just saying, I won't be sending my coins back into their hands until I think the risk is worth it.

if that upper line gets broken, then I'm back to risk on and I will be looking for opportunities to sell.

*fantasy land edit*  not selling at 800... I am planning a tranche starting at 1200 and going to 5000, at which point I will just stop and hoard the rest, just like last time, and the time before that, and the ... hehehe, sorry, couldn't resist.  Embarrassed

no real tranche planned for the downside though. I guess I've bought my fill.

If it goes down, I guess I'll go down with the ship. *or maybe transfer into some interesting alt-coins*
1267  Alternate cryptocurrencies / Mining (Altcoins) / Re: Swedish ASIC miner company kncminer.com on: June 24, 2014, 01:57:23 AM

 I believe that the network hash rate is unknown and must be statistically inferred from number of transaction blocks found by the network in a given period of time taking into account the current difficulty.  Due to the probabilistic nature of solving a block, there is some inherent variance (which is also called luck) in the network hash rate.  This might be why it appears to be changing quickly.  I don't think you can pin it down to KNCminer at this time but certainly if you watch the rate over a longer time-frame it might be more telling.


 

You're right of course, I was only trying to be facetious.

1268  Alternate cryptocurrencies / Mining (Altcoins) / Re: Swedish ASIC miner company kncminer.com on: June 24, 2014, 01:55:47 AM
It's too bad RAM waterblocks are so expensive, 10-15 of them would tame a neptune's VRMs.
(I'll try making my own out of copper tubing)



@tolip_wen:

great idea, I don't know what diameter for tube, but as long as you flatten them on the one side and you could bend the tube in a U-shape to touch all the VRM's

might need very high flow, but it doesn't need to be fancy.

btw, pretty sure the chip can be safely air-cooled. those tower CPU style coolers with the heatpipes are incredibly efficient.
1269  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 24, 2014, 01:29:19 AM

[  ] bitcoin is alien
[  ] bitcoin is quite perfect
[  ] bitcoin is supernatural
[  ] god
[  ] devil
[X] none of the above but trading behavior is guided by lines drawn to define limits
 
 


edit : X

I like drawing random lines...



just imagine  Shocked those lines don't converge until 2015 or something.

and yet, until they get broken, I'm probably not going to trade very much, currently have almost all fiat and crypto out of exchanges and on the sidelines.
1270  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 24, 2014, 12:54:14 AM
To the moon in 2 or 3 months for sure  Grin  Grin

Welcome to the forums and welcome to the thread, and consider this lesson #1 for bitcoin. Nothing is "for sure"
1271  Alternate cryptocurrencies / Mining (Altcoins) / Re: Swedish ASIC miner company kncminer.com on: June 24, 2014, 12:45:00 AM
must have got my tracking number sometime last night as well.

It appears they are actually shipping en masse.

did anyone notice if the hashrate spiked then dropped recently? <smirk>


1272  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 23, 2014, 12:36:14 AM
huobi looks too flat for too long

I don't like this one bit
1273  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 23, 2014, 12:29:06 AM

“Such a return is pretty secure,” Chen said. It’s “virtually riskless.”

lol indeed.
1274  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 22, 2014, 04:44:03 PM
Just 24 hours ago he and the other usual trolls where crying like crazy because i felt the price was being kept down.
I mentioned how these losers are the first to cry about manipulation when the price goes up 10 bucks.
Well, there you go.
They're not even trying to hide their stupidity. Unbelievable.

Market gets manipulated and squeezed in both directions. Which is why they say that the little guy should never try and trade a flat market.

Exchange insider sharks know which way to push the market in order to empty the most fiat into their pockets and if there is basically no trend to speak off, it is much easier for them to do this and the only way they can continue to turn a profit.

love the new sig btw.
1275  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 21, 2014, 04:43:06 PM
Anyone have an ideas on why bitcoin is so polarizing?  Either you love it or you hate it, not many are in between.
Well, either it will "go to the Moon" (i.e. its price will get much higher than now, and keep rising at least 5-10% 500-1000% per year) or it will collapse to 0.  There is no viable long-term scenario between those two.  So, one's attitude towards bitcoin depends on which scenario one believes in.

fixed that for you  Grin
1276  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 21, 2014, 03:47:57 PM
Anyone have an ideas on why bitcoin is so polarizing?  Either you love it or you hate it, not many are in between.

sure, I'll take a shot...

just change "Either you love it or you hate it" with "Either you get it or you don't"

done  Grin

:edit: - I think the real barrier is that in order to understand why bitcoin is good, you need to first understand how the current fiat system truly works. - good luck explaining that to someone whose livelihood depends on the current system and then you will understand the problem that is faced in the "adoption gap" of bitcoin.
1277  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 21, 2014, 03:44:11 PM
When you are pseudonymous slander and libel can flow freely.  until theymos gets a subpeona at least. If I were a bfx owner I would try to squeeze MatTheCat for a few hundred coins in court.

Huh really?

If I were a bfx owner I would just be glad that mat continues to advertise for them in his sig. (unless of course if they were actually paying him to pimp finex in his sig, in which case I would cancel that contract, lol)
1278  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 21, 2014, 03:28:33 PM
Agreed.   We the company will give you more leverage so we can make more money, and will give you automatic credit line and charge high interest loan rates.   alot of these exchanges have fake and low volume so thats why they make the dough through the spread and ripping off customers.

Yep, offering fractional reserve leverage with illusory fake volume, with the exchange feeling safe in the knowledge that they will be able to shake a certain percentage of the would be winning trades out of the game through the inside farming of stop losses and such, that it makes it all a worthwhile and profitable endeavour in the end, no matter what way the market goes.......worthwhile for the exchange that is.

might be the first time I agree with you on anything, but in this case, I think you have gotten it right.

exchanges can skim profits from fees, and also have valuable information and ability to act profitably on that information.

exchanges or "money changers" are just another inefficiency in the current system.

it would be nice if we could reach consensus with a single currency and cut out the money changers, but I feel that exchanges of some type will likely always be necessary.

we will soon have thousands of currencies to change into and out of, and the ones facilitating the trades are going to profit. but I guess that's the cost of the freedom to pick your currency of choice?
1279  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 21, 2014, 03:13:48 PM
I think the blockchain.info bitcoin days destroyed chart is looking interesting. There was a spike up when the SR coin auction was announced, plenty of old coins got cashed out to raise money for bidding in the auction I guess. But as of yesterday the 7 day average has moved all the way down to a low point where it was in mid-May prior to that big rally move starting.

Of course I can't give any advice, I can only say what I think, and I have a large probability of being wrong, but I'll take this opportunity to spew out some nonsense anyways  Grin

I think this window might be the last chance at cheap coins.

once the auction is over, I suspect that those auctioned coins are not going to be re-sold any time soon.

I also get the feeling that any entity that is participating in the auction and does not win their desired amount of coins, will add to the buying pressure (I'm sure they won't immediately buy and spike the price, but I think they should be buying dips at the very least...)

I think that many coins might have been sold in the previous and coming weeks in the interest of both keeping the price low, and also securing enough USD to place a bid.

it's a risky situation, but that's what these people (the kind of entities that would be bidding for blocks of 3K coins) do for a living.

always remember to actively monitor and consider your risk exposure.

1280  Alternate cryptocurrencies / Mining (Altcoins) / Re: Swedish ASIC miner company kncminer.com on: June 20, 2014, 10:43:04 PM
can anyone tell me how loud they are?

is it, ridiculous loud like a cointerra box that sounds like a vacuum cleaner running 24/7?

or is it whisper quiet like the jupiter? or somewhere in between? like an avalon?

noise is going to be my biggest limiting factor moving forward...
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