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1441
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: May 25, 2014, 12:30:58 PM
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Can't take money out of our pockets without creating volume.
SecondMarket is doing just that. They earn money from keeping bitcoins locked up. Can't create volume without price appreciating accordingly.
Can't have price appreciating without us early parasites adopters becoming rich. Filthy rich! To da moon filthy rich!
If old coins get dumped on the market, volume will probably go up, at least for a while, while price goes down. We saw that in every past crash. Exchanges will make more money during price crashes, than when the price is stable. BitPay will make money even if the BTC price falls, as long as there are people buying with bitcoin. SecondMarket's BIT could make a lot of money with falling BTC price, if they didn't actually buy the coins when clients invest in them, but only when they liquidate. I don't know the exact terms of their contract (they are revealed only to investors) and whether they could be prosecuted for failing to honor it. Did you buy a coin yet, old man?  And ruin my trading record? Not likely soon... Hey prof, I know you got your own thing going on, but I think that if you wanted to be serious about investigating this bitcoin thing then you should at least try it out. You could simply make a public address and ask for donations (I'm sure you'd probably get quite a few) by having a public address, everyone who donates to your "research project" would be able to see exactly what you decide to spend the bitcoin on. (As long as you spend the bitcoin donations on other public addresses.) I suspect that many businesses will start to use public addresses in order to allow charities to prove where they are spending. These businesses that accept bitcoin in this way would be well served to give a discount to the charity and also take advantage of every opportunity to remind consumers of their charitable actions. Or even corporations. Some competitor to whole foods will crop up and have provably organic food, bought from organic farms that accept bitcoin. It's late and I'm rambling again, but having a provably accurate open ledger of account brings up so many possibilities. Hoping for a brighter future. |
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1442
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: May 24, 2014, 02:46:34 AM
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Weird how people suddenly are dumping. They are just so afraid we might go down again.
Let them dump, it has not much of effect. We went down $15,-. Been there, done that. The sooner the retards are gone the better  I call another try for that wall $550,- within the next 24 hours. Before that we might see $505 on Bitstamp, but thats about it. I would like to see the price hit around 510 before we continue.  if it drops below 500 I would consider this a possible failed move. (and then I would slap myself for being so foolish) |
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1443
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: May 24, 2014, 02:13:18 AM
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http://www.reddit.com/r/Ripple/comments/26ccz3/ripple_board_member_resigns/Hey ya'll. Jesse from Kraken here.
Today I have submitted my resignation from the Board of Ripple Labs. While I care about the people who work there and I wish the company the best, I cannot personally continue to support the business.
I believe that the technology and the protocol hold great promise, and have since the beginning, which is why I was the company’s first investor. Since Jed's departure, the management of the company has taken a different direction. Sadly, the vision Jed and I had for the project in the early days has been lost. I’m no longer confident in the management nor the company’s ability to recover from the founders’ perplexing allocation to themselves of 20% of the XRP, which I had hoped until recently would be returned. Prior to Jed's departure from Ripple, I had asked the founders to return their XRP to the company. Jed agreed but Chris declined—leaving a stalemate. This afternoon, I revisited the allocation discussion with the pair and again, where Jed was open, Chris was hostile.
As an investor, of course, I hope that Ripple Labs will overcome its hurdles and prove my lack of confidence misplaced. Unfortunately, unlike the founders, I don’t have swathes of XRP to dump if I don't think it's working out. so sad  we might never see mah in here again. has anyone seen him anywhere? I sure hope he's ok. |
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1444
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: May 24, 2014, 01:51:38 AM
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Didn't they pass a solvency audit prior to the fall of Gox?
Yes and no. The audit was released in I think March or Feb but the actual audit was done in November. Besides you still have to trust the auditor. (Again Im not saying there are any solvency issues) Wasn't it Andreas? Apologies, on phone with low battery so can't search to find the details. What does who it was change to the fact you have to trust them? I trust Andreas. He was very open about the fact that his "audit" didn't really prove anything. Best thing about Andreas is he would never ask for my trust, and if he ever did, then I would probably mistrust him/ That's why I think the best thing about blockchain technology is the elimination of the need for trust. |
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1448
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: May 23, 2014, 01:45:28 AM
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Wow, can hardly believe the ripple news, why do people still think centralized and heavily owned currencies are the way forward?
Ripple is something new. It offers unique features and in comblination with bitcoin can be a really powerfull currency system. It's a really advanced platform and could have a great future. I don't like systems based in centralisation as well but ripple takes it much further than most "centralized and heavily owned currencies" as you mention do. ripple is nothing new, it's just digital version of hawalla and obviously someone wanted out. |
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1451
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: May 22, 2014, 08:04:20 AM
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I note there's been some healthy (ish/er) volume the last couple of hours; didn't someone suggest some time back that Thursday is SecondMarket's usual day for buying coins?
quite astute there was some fair volume on the last bump up, and the bump before that... I'm hoping for some contrary action to keep this whole thing in check. |
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1452
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: May 22, 2014, 07:50:30 AM
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Alot of this buying is shorts closing. Over 1000 btc in shorts closed in last few hours. is that why we don't see the bounce-back? You mean why we don't at least go down a bit instead of flatlining? I think everyone is anticipating a bull market. So we have one. I don't think this has legs to get past 650ish, but as long as people are selling, I guess we can run for a while. From a wave perspective this is a corrective pattern from the low with one more bull run up, before resuming back down. We will see. yeah, you got what I meant exactly. but when you say "resuming back down" do you mean a retracement? or do you seriously think we will test recent lows? (I mean like sub 450 range) |
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1454
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: May 22, 2014, 07:04:57 AM
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I don't know from markets, but this feels a lot like the opposite of those big dumps that were getting eaten up a few weeks ago. like you could dump a bunch of coins and it would only go down briefly, and then right back up, right away. Now, with these buy tests, the market does not retrace, only perhaps oscillates in a tightening triangle until the next "test" I really wish that everyone would just curb their enthusiasm and remember that this is all just a dream. https://www.youtube.com/watch?v=rsL6mKxtOlQcase in point: to steal a phrase from MatTheCat:
WHAT THE HELL IS WRONG WITH YOU BITCOIN NUTTERS!???!!?!?
MAX ALL YOUR SHORTS!!! |
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1455
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: May 22, 2014, 05:42:39 AM
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There is one idea in crypto-currency that is unquestionably good, but most parts of the bitcoin protocol are "good" only if one subscribes to the libertarian dogma that banks and governments are evils to be removed.
The only thing about bitcoin that matters is that it is an accurate ledger of transactions, that it is open to the public, and that it cannot be fucked with.
(apologies to JJG, this post has been heavily edited  ) |
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1456
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Economy / Speculation / Re: Automated posting
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on: May 22, 2014, 05:27:58 AM
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hold steady ChartBuddy, I personally would like to see the price stay as low as possible, for as long as possible. |
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1458
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: May 21, 2014, 02:28:58 AM
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last time, it went from about 130 to over 1100 - almost a ten-bagger
this time, it's launching from 450
my question to you is, when are you selling?
Seems most are thinking it's bubble time? Hmmm. What was that thing people say about everyone expecting the same thing? Hehe. Yeah, IMO you aggressive bulls are jumping the gun here. We popped a bit which caused wavering fence sitters to freak out and buy. We'll consolidate here for a bit, and hopefully trickle up for a month... this price action will start convincing the larger players and the media that the next run is coming. But I don't think its bubble time, instead compare it to the rebound from 2 to 4+ (in early 2012). this this would be my greatest wish, nice slow growth my greatest fear is that this will hit 6 digits before the next block reward halving  |
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1459
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: May 21, 2014, 02:13:18 AM
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last time, it went from about 130 to over 1100 - almost a ten-bagger  this time, it's launching from 450 my question to you is, when are you selling? Seems most are thinking it's bubble time? Hmmm. What was that thing people say about everyone expecting the same thing? Hehe. sometimes I think that it's possible that the only reason anything exists is because we perceive it to be so... |
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1460
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: May 21, 2014, 01:59:44 AM
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last time, it went from about 130 to over 1100 - almost a ten-bagger
this time, it's launching from 450
my question to you is, when are you selling?
Between $1200 and $5000, incrementally of course at a 1% on the low end stepping it up in increments 0.5% of the resulting new balance each ~3 days. I will build a spreadsheet so I don't get confused. thank you, that sounds like an excellent plan, if you could share the spreadsheet when you're done that would be freakin' sweet! This Thursday, before it crashes to $270.
Thank you as well, your opinion is always appreciated. |
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