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1302
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 14, 2014, 01:08:12 AM
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also withholding blocks, to manipulate the perceived hashrate and effectively attack other mining pools, is a problem The block withholding attack might actually end up being what limits the size of pools in the end. If it's no longer safe to accept random members of the public into a pool, then the pool membership needs to be limited to trusted hashers. This means a larger number of pools for a given number of hashers. I used to really like small pools, until the hashrate started going nuts. when your profits are being cut by 30-40 percent every couple weeks (every 10 days sometimes) it's hard to stay at a small pool that is having a "dry spell" having said that, 305673 5 minutes 150 638.12 BTC BTC Guild 86.09 305672 8 minutes 193 204.05 BTC Discus Fish 115.96 305671 10 minutes 351 477.82 BTC BTC Guild 202.79 305670 22 minutes 394 973.33 BTC GHash.IO 193.73 305669 32 minutes 447 1,595.25 BTC GHash.IO 290.72 305668 42 minutes 111 798.10 BTC GHash.IO 91.57 woohoo! btc guild! stuff it in their stupid ghash faces!  |
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1304
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 14, 2014, 12:41:53 AM
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Worst a 51% attack could do is halt confirmations of all transactions until the hashrate drops. Not really a problem.
that's still a dos attack, and that's still a problem or like within 10 minutes. I'm not sure I understand, if the hashrate drops significantly, it could take longer than 2 weeks for it to adjust. blocks would be very slow in the meantime, it's still a denial of service attack. is it not? When the POOL'S hashrate drops. ah, ok, so they drop below 50 and the attack is dead? my point is that the possibility of the 51% attack is something that needs to be addressed. so we either test it and find out now, or we just sit around and talk about it until some time down the road someone pulls it off and kills the network? |
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1305
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 14, 2014, 12:24:12 AM
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Worst a 51% attack could do is halt confirmations of all transactions until the hashrate drops. Not really a problem.
that's still a dos attack, and that's still a problem or like within 10 minutes. I'm not sure I understand, if the hashrate drops significantly, it could take longer than 2 weeks for it to adjust. blocks would be very slow in the meantime, it's still a denial of service attack. is it not? |
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1307
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 14, 2014, 12:10:30 AM
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the double bottom is in
we are way over sold because of FUD 30K BTC is not going to kill bitcoin
all you fools that are manipulated by market depth are about to get schooled
I feel like the drop was mainly due to 51% attack fear. I wish someone would just attempt a real 51% attack already and prove how futile or destructive it is. seriously, if it's such a big problem, then how can you ever trust the blockchain with your life savings? until it is tried, and defended against, it will always be a potential "deal-breaker" for bitcoin. kinda like the fork that happened a while ago. (that moment is also the reason I'm still mining at btcguild, even though we're getting crushed right now) - but I am thinking of creating a ghash.io account and pointing my negligible hashrate over there just so we can see what happens... If there is anything that can break bitcoin, it is better to get it out of the way now, better than later... |
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1311
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 13, 2014, 12:58:21 AM
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Stamp 586
Huobi 614
pretty sick
Shouldn't arbitrage be eating that wall away? Unless there are some real problems at stamp... have you seen the requirements for stamp accounts lately? but yeah, it's not only that. I blame the legacy banking system for the current inefficiencies in the market. I wish someone on a TV interview, when asked that dreaded question "but the volatility..." would just get up out of his chair and yell into the camera. "If you stupid looters would just let us do our business in peace, we could effectively arbitrage the system and absorb shocks and provide stability. We are only being held back by your interference!" |
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1314
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 13, 2014, 12:43:19 AM
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If we rebound now it's like SR all over again.
you know what? when SR first got busted I thought that if they actually ever went through on the auction it would be bullish. I thought that it would give bitcoin an air of legitimacy in the public eye that their gov't is earning 15 million dollars from selling bitcoin. This auction should get a TON of news, and it shows the impression that the US gov't is totally fine and comfortable with buying and selling bitcoin. It would be so cool if this is just a SR type dip. These are the silk road coins after all.  By selling the bitcoins, the government is setting and or affirming the legality of bitcoin. even better, it sets a precedent favourable to the ultimate fungibility of bitcoin. It shows the impression that there will be no black-listing of coins. after all, if the gov't can spend their ill-gotten gains, why can't the rest of us? |
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1316
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 12, 2014, 11:49:18 PM
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If we rebound now it's like SR all over again.
you know what? when SR first got busted I thought that if they actually ever went through on the auction it would be bullish. I thought that it would give bitcoin an air of legitimacy in the public eye that their gov't is earning 15 million dollars from selling bitcoin. This auction should get a TON of news, and it shows the impression that the US gov't is totally fine and comfortable with buying and selling bitcoin. It would be so cool if this is just a SR type dip. These are the silk road coins after all. |
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1317
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 12, 2014, 10:57:27 PM
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What are the bad news that makes the price falls?
Where do u live ? FBI selling SR seized coins  . Thatīs not true. Legally they canīt sell them on an exchange, only in an auction... And why itīs bitstamp 550 and huobi 600? That makes no sense. The market sells in anticipation of auction buyers liquidating coins on exchanges for arbitrage. Keep in mind that market prices are the prices of "tomorrow", not today. The thing is, bidding hasn't begun yet, and bids will likely be weighed against market price at the time of bidding (assuming arbitrage was the goal). Bidders must factor in risk of what other bidders are going to do with the coins, or market movements in the days it takes between bidding and taking possession. In my opinion, the market has already overreacted to this news, meaning I think the price is lower right now than it will be in 3 weeks or so. 30k coins might seem scary for someone who's staring at a chart on one exchange and imagining them all coming down at once, but that's nowhere near the reality. I'd be surprised if half of them come down at once, and even more surprised if that were all on a single exchange, let alone any exchange at all. Half of them represents about 4 days worth of new bitcoins from mining alone. If you haven't sold into the panic yet, you're probably too late to capitalize. Maybe you'll get another shot as distribution day approaches, maybe not. If you DID panic sell, start looking to get back in, because it's probably not going to get much better. Take your profits, pat yourself on the back. what do you think of the possibility that this was just some large holders liquidating to get their funds in order to place bids on the auction? |
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1320
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 12, 2014, 12:28:36 AM
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idk about you guys but i've been buying Just checked the daily low on virtex, looks like the top of my tranche should have been filled at 671... finally Can't remember where my next bid is at, probably around 666 or something. Edit: whoops, maybe I got two bids filled :: just got home and checked, nope, second order was at 655, missed the bottom by 6 bucks... this time. |
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