An idea like Bitcoin is exactly the kind of stuff that book burning was invented to combat.
Precisely... Printing Press == Free thought Bitcoin == Economic Freedom thanks dude, very concise. how I'm feeling right now, http://www.youtube.com/watch?v=bZCDifG3zQc <- by ZhouTonged, first time I heard it I thought it was crap, second time I actually paid attention to the lyrics... third time, I loved it. |
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don't blink, this is bitcoin after all  |
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...what I have understood is that bitcoin isn't a good invention, but it's a good innovation...
The blockchain man, it is a fucking invention, the world had to wait 30 years for this one after public key cryptography was invented. While I agree, that blockchain is the part that could be classified as an invention the most. Then I still have to say that I see it more as an innovation, because it is built on already created inventions in cryptography. I think that blockchain is a great innovation, but I also think that it will be as great of an innovation in the future as iPhone1 is right now. I partly agree, because the blockchain (the distributed blockchain, really) was inspired by some proof of work testing as an email spam antimeasure. But following crypto developments from the sideline for many years, reading the bitcoin whitepaper was a revelation. I know most here have read it already but for those that haven't: https://bitcoin.org/bitcoin.pdfI suggest everyone who hasn't already done so, first download this pdf and back it up in every place you can imagine; then, actually read the thing. An idea like Bitcoin is exactly the kind of stuff that book burning was invented to combat. |
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This is kind of like $100-$105 in July. We're not going to break the dark order resistance with this small volume now - and that means probably means going lower into a retracement to pick up volume and come back up.
yes. feels exactly like that. still stoking the fires to gain enough steam to get this thing moving... could take a while, at least until they plug the leaks in the boiler. |
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woohoo, just got home and bitstamp looking ready to pop. To my memory when the oscillations flatten out like that, it usually means that we could see a quick move soon, usually to the upside...
though if I had to bet right now, I would bet on it going off a cliff rather than to the moon, luckily I placed my bets at 450 and I'm holding on to them tightly.
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Those funds are no more. They have has ceased to be. They have expired and gone to meet Satoshi. They are late funds. They are vapor. Bereft of existence, they rest in peace. If Karpeles hadn't left them on the balance sheet, they would've been written off ages ago. They've rung down the curtain and joined the choir invisible. They are ex-funds.
They are not gone, just pining for the blockchain... Beautiful funds, those bitcoins. This whole matter is far from being concluded... there is a lot of sorting that still NEEDS to be done. I am sure that we DO NOT know the half of the financial situation of Mt. Gox and the extent to which it may be feasible to either reopen or to reimburse customers.... these details are going to be worked out in the coming weeks.. and maybe months. The customers will never get their funds and there was never any possibility of that happening. There were no buyers: http://two-bit-idiot.tumblr.com/post/77967162725/breaking-full-mt-gox-story-cominggood old bitcoin, scams within scams, makes you wonder who you can trust... almost makes you wish you could design a system that doesn't rely on trust... oh wait... |
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hmm is there any posts from virtex saying why?
https://twitter.com/cavirtexif you can find a reason there, please share it. I can't see the post history (probably 'cuz I'm blocking the scripts), but I'm not a twitter guy so I'm not sure how that stuff works. They added LTC and it has caused some knock-on problems with their system. Thanks, still don't see why the LTC withdrawls still work fine while they block all the BTC withdrawls... Pump all the litecoins!!! --- shitty part is that I have to pay 1.5% to transfer my BTC into LTC in order to get out... I'd much rather just take my BTC and exchange it at btc-e. |
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hmm is there any posts from virtex saying why?
https://twitter.com/cavirtexsomething about a problem when they enabled LTC trading... if you can find an explicit reason there, please share it. I can't see the post history (probably 'cuz I'm blocking the scripts), but I'm not a twitter guy so I'm not sure how that stuff works. |
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Feels good to be only 100% BTC again. Being levered long was a little stressful.
I was feeling the same way.. most of my bids got filled, was going to just withdraw the coins to allocate to cold storage... and then this from virtex: Withdraw Bitcoins
<< Back
Bitcoin Withdrawals are Temporarily Disabled
Please see our twitter feed for updates
Really Virtex? not you too? Are fiat withdrawals still functioning? Fiat withdrawls appear to be fine, I haven't tested but I have little fiat remaining, so I haven't tested. LTC withdrawls are tested and confirmed working just fine (very fast too, gotta give it to litecoin for that) Was considering dumping it all into litecoin just to withdraw, ltc<->btc ratio seems pretty stable... |
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Feels good to be only 100% BTC again. Being levered long was a little stressful.
I was feeling the same way.. most of my bids got filled, was going to just withdraw the coins to allocate to cold storage... and then this from virtex: Withdraw Bitcoins
<< Back
Bitcoin Withdrawals are Temporarily Disabled
Please see our twitter feed for updates
Really Virtex? not you too? |
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I got balls of steel but since my coins are currently on Gox I may in fact be a eunuch now  IMO balls of steel is not holding now, it was not selling at $1200. I know why I didn't, but that doesn't mean this is easy.  if you've held this long, I expect you're in it 'till the end. You'll ride this like the titanic, all the way to the bottom if it goes that way. --- I still think you should consider this an all or nothing bet. Yes, you could have sold at 1200, and doubled up at 600 (maybe a ten-bagger at 120 if you're lucky enough to have goxbux.) - but the point is, that the upside of this thing is a whole lot bigger than a couple thousand dollars. the downside is and will always be 0 place your bets accordingly. |
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Next Capitulation to occur between now and Mid April 2014.
Soon there after price will rise steadily to reach new ATH's by mid June 2014.
After that is all "CHOOOOOOOOO CHOOOOOOO".
Capitulation is a tough word to define. Does it mean that we will reach lower than 450? for a prolonged period? 350? 250? I would like to think that this thing will slide for a while, but picking bottoms is a dirty business, I set my bids weeks ago, and the ones that get hit, I sometimes take the proceeds and place some asks to hedge against another dip, but I currently have no asks below 800. I think the move, when it comes, will be swift and violent. I'm just curious, how low do you think final capitulation could be? |
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Sorry to post new topic. I usually just drop random thoughts into the wall observer, but I can no longer keep up with that thread. It has beaten me to the ground, so I ask my question here:
Is a lower price now better for bitcoin in the future?
The lower the price, the more it can stay under the radar. Which means more time while some people try to figure out how to control and regulate (NY DFS says sometime later this year? maybe?)
A lower price simply buys time to further entrench the tenets of bitcoin before the impending attacks.
I think that a period of time similar to the long, painful wait after the first 30 dollar "crash" would be beneficial in the long run. Bitcoin is not ready for prime-time yet, perhaps not for many years.
The idea that a distributed consensus of transactions is a better money system than what we currently have is an idea that is "too big to fail".
The alternative is similar to a boot stomping on a human face, forever.
I welcome your speculative thoughts on what effect a months-long bear market might have for the future of bitcoin.
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2014 - the new 2011.
Ahh, man, it is starting to feel that way, eh? Would be very nice, much easier than building a time machine. and out of respect, one of my favourite tunes to listen to during times like this... http://www.youtube.com/watch?v=A7TuFy0fcuwStill the first and only forum member that I know of that has had a song "written" about them. Kudos. |
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Twas the night before Goxxing, when all through Mark's house
Not a feature was working, not even Mark's mouse
The bitcoin were slung through trades with despair,
In hopes that St. Solvency soon would be there
-snip-
Beautiful Agreed. Had to quote this to make it easier for me to find, I suspect I will read this through many times... Thank you humanitee, it gave me many a chuckle. |
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I'm very bullish on BTC long term, in fact on cryptos in general, but right now the technicals are terrible and getting worse by the hour. Take a look at a 1 week chart with 50 and 200 week SMAs plus MACD if you really want to get a knot in your stomach. ummm, SMA and MACD might be nice and all but I prefer adamstgBit's coin cheapness indicator. I just buy when it's below the green, and hodl when it's above the red!  |
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It's a free market. People are free to do whatever they like with their trades.
This is not 'free market trades'. This is the exchange manipulating the price using bots with lots of fake volume/numbers. This my friend, would be deemed illegal behaviour on any other market and is probably also illegal on Bitcoin but nobody gives a damn so it goes on unabated across all exchanges. It is just so obvious on Gox probably due to the absolute lack of real trade going on at the present time. Nothing worse than these brain dead 'free market' twats that cite the free market whenever someone complains or highlights some blatantly dodgy doings. He broke into my house and stole the family silver.....its the free market. He killed my mother and raped my father......its the free market. He is fucking me in the asshole right now......its the free market. Ah Mat, someday you will realize that control is an illusion. |
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Welcome back Bitcoin Hall of Famer! I hope we can see you more around here. Opening a pizzeria is a good idea you should consider. It could be a meeting place for Bitcoiners.  This is such an incredibly good idea. Just make sure it's pizza and beer -- family style during the day, more pub style later on?? I am still trying to get my head around the whole "decentralized autonomous whatever" thing, but this thread so far makes me wonder if I'm not witnessing the first crowd-sourced launch of what could be the first attempt at one? If so, I'm in. |
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Hehe, didn't know that u made the first gpu miner, that is pretty amazing! If any of you could go back in time and had the mining power to mine as much btc as you wanted to, when would you stop mining, knowing the price will end up at 1250 in 4 years? When would you have enough btc to not give a fuck anymore? kind of an ethical question. an answer to your *kind-of* ethical question. I was mining back then too, (not quite as far back) I haven't stopped mining since, and I don't expect I ever will. |
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Wow.
I have to say that, from one small hobbyist miner to the pioneer of GPU mining: You, sir, are my hero, (well, right up there with Satoshi anyways)
If bitcoin succeeds, I predict there will be a statue of you built someday.
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