I have an aversion against dogmatic and dishonest people. It culminates in outbursts of the opposite order sometimes, even though I like Bitcoin.
So, you call Bitcoin shit because of a bug that affects appearance, not function? Don't you think that's a bit of a dishonest proposition? It just amazes me how it affects all major exchanges. Actually didn't expect that. So yes, from a practical world view, I would say that something has gone wrong that this was not noticed before by any of them. It amazes you? From my experience, I expect the exchanges to do as little as possible to continue to function. Again, this has everything to do with the exchanges, not Bitcoin. The day we have a robustdecentralized Bitcoin exchange... fixed that for you  |
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You know, if every exchange switched to mBTC as the default, I wonder if this would psychologically encourage the price to rise. Hm. no 100 times no. if people can't figure out the decimal system, then I don't want them even trying to make transactions in bitcoin. we are a long ways off from public acceptance. maybe some day, buy not today... |
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Apologies for dragging up old posts, still catching up, but I had to say thanks, Fonz, for some very good news. When I hear the bankers say stuff like: “bitcoin’s practical role may be no larger than that of an emerging market’s currency subject to exchange controls” I think we still have much time. Cheap coins for months... 500 will become the new 5. get ready to settle in for the long haul. I hope?  |
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Huobi having a lil mini rally.
mini rally better stop soon before it becomes not mini. someone Shotred a lil' early ? who? me? yup!! I first shotred this market since $5... never thought we'd break over 10 again... I'd say I shotred this market way way too early, not just a lil' early. |
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Huobi having a lil mini rally.
mini rally better stop soon before it becomes not mini. |
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Hard to sell coins for a profit if you don't have any left to sell. Coinbase as much as admitted that they have no miner's coins left and now have to buy on stamp. You can figure out what that means.
Does Coinbase really rely on miner's coins? How do you know this? *edited to remove confusion* They did. It was well known that, although their prices were lower, Coinbase would get them their fiat in a reliable, timely manner. There prices stayed low as we traders cut our losses and transferred out coins from Gox so we could get at least some money out. This was back when only fiat withdrawals from Gox were delayed. Then Coinbase's supply of cheap coins apparently ran out and the price diverged from Bitstamp to a noticable degree. Coinbase put out a notice on their reddit explaining the price differential and essentially begging us Yanks to sell for the premium we would be getting. Few took advantage of this because most us us were buying by then. So yesterday, they got more money to Stamp and the prices equalized somewhat, but still noticeably higher at CB. The miners I suspect are now selling to Second Market, Winklevi, and other institutional investors for better prices. Few miners are selling retail at these prices. They have better options.Interesting. you think institutions are paying more to get in bed with the producers? to insure a steady flow? or just paying premium to get untainted coins? |
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Hard to sell coins for a profit if you don't have any left to sell. Coinbase as much as admitted that they have no miner's coins left and now have to buy on stamp. You can figure out what that means.
Does Coinbase really rely on miner's coins? How do you know this? *edited to remove confusion* |
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So it's just a trap in general.  the further down the rabbit hole, the further into the trap. the first step in evading the trap is knowing that the trap exists. the second step is knowing how the trap works. the third step is fully recognizing the trap for what it is, and completely side-stepping and ignoring that 'trap'. |
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eah something fishy going on.
my biggest concern that i wish i paid more attention to my balance for, is that I dont know if when the second spam txid is broadcast - does it cause my wallet balance to read lower?
Ie: if I have 3BTC and I send 1BTC, and then a spam rebroadcast goes out saying the same 1BTC transaction but never confirms, will my bitcoin-Qt wallet show 2BTC in it or will the client misread this to think that there is only 1BTC left?
imagine if it were to basically abandon coins when it creates te change address - it could be rescanned but there could be serious losses to some people who dont notice
I'm not sure what client you use, but on the reference client you can hit the "export" button on the bottom left to get a csv of your entire transaction history. You can run this on a spreadsheet just to make sure everything lines up (I did, just a few days ago, and of course it lined up) You can even go through every transaction in that list and verify them on the blockchain, though these recent unverified transactions look suspicious, once your transaction is verified by the blockchain, it is irrefutable. the one thing I hope for most in the aftermath of the fall of GOX is that people will learn better about how bitcoin works. I tell all my friends, when they ask me about bitcoin, and then they ask me how many I have. I always just say "it's not about how much bitcoin you have, it's about how much bitcoin you know" Meaning, I think the better you understand what bitcoin is, and what it means, the better you will be able to navigate our uncertain financial future. great - so my exported transaction list DOES NOT ADD UP. it includes the duplicate transaction of -0.2201 marked as 'Confirmed=FALSE' and a partly-confirmed mining income from an hour ago of 0.1674 please help me out here: Wallet Status: Balance: 0.2146 BTC Unconfirmed: 0.00 BTC Immature: 0.1674 BTC using the exported csv and adding all the transaction amounts, I get a total of 0.1363 BTC - this includes both the mining income and unconfirmed double spend. Why does the math not add up? No matter how you add/subtract the renegade values my wallet amount isnt right What wallet are you using? and are you sure it's a hot wallet? fully up to date? my guess is the mining income is solid. anything that gets confirmed in even one block right now is pretty much a done deal. if you see a transaction on the blockchain - with sufficient fee paid to the miners - and it doesn't get included within the next couple blocks, I would start getting worried at this point. TX id might be more important than the developers think? |
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Oh yeah, just thought of this too,
when someone brings up gold and silver as "honest" money, just remember that bitcoin doesn't care about "honests"
Bitcoin is Voluntary Money
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eah something fishy going on.
my biggest concern that i wish i paid more attention to my balance for, is that I dont know if when the second spam txid is broadcast - does it cause my wallet balance to read lower?
Ie: if I have 3BTC and I send 1BTC, and then a spam rebroadcast goes out saying the same 1BTC transaction but never confirms, will my bitcoin-Qt wallet show 2BTC in it or will the client misread this to think that there is only 1BTC left?
imagine if it were to basically abandon coins when it creates te change address - it could be rescanned but there could be serious losses to some people who dont notice
I'm not sure what client you use, but on the reference client you can hit the "export" button on the bottom left to get a csv of your entire transaction history. You can run this on a spreadsheet just to make sure everything lines up (I did, just a few days ago, and of course it lined up) You can even go through every transaction in that list and verify them on the blockchain, though these recent unverified transactions look suspicious, once your transaction is verified by the blockchain, it is irrefutable. the one thing I hope for most in the aftermath of the fall of GOX is that people will learn better about how bitcoin works. I tell all my friends, when they ask me about bitcoin, and then they ask me how many I have. I always just say "it's not about how much bitcoin you have, it's about how much bitcoin you know" Meaning, I think the better you understand what bitcoin is, and what it means, the better you will be able to navigate our uncertain financial future. |
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Anyone want to fulfill this thread's purpose and provide some insight as to where we are headed?
*Note, I have no TA abilities. I rely on very basic eye test and common sense* I think today was VERY bullish for the long term. To deal with the FUD and panic we had today, and currently be sitting at over 3%+ in the last 24 hours as of this post, is incredibly good news for the long term prospects. That said, I'd be surprised if we were to really test these buy walls at 720 and 750 (on stamp) too much in the short to medium term. Lots of buyers spent money today getting cheap coins, which means 1) people are going to be less liquid to buy at current prices and 2) People who got cheap coins could add more selling pressure at these levels. So short/medium term, I expect a little downward pressure, but nothing too serious. A lot of low volume sidewise/slightly down activity similar to most of January. It'll probably be boring and unsexy. But, I can't help end today with a smile on my face (it helps I got some cheap coins... though not as many or as cheap as I would have liked lol). While I don't see us headed to the moon for now, I think today was actually a large step in the right direction. Nice to see a newbie with a sensible outlook. Welcome to hell!!!1  Sorry, what i meant to say was, TO DA MOON TOMORROW or else DOOM for all and $10 coins by next week!!! I feel like I fit in much better now. Tomorrow, tomorrow, I'll be rich, tomorrow. It's always a day away. Always keep in mind that this is an experiment. |
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Anyone want to fulfill this thread's purpose and provide some insight as to where we are headed?
*Note, I have no TA abilities. I rely on very basic eye test and common sense* I think today was VERY bullish for the long term. To deal with the FUD and panic we had today, and currently be sitting at over 3%+ in the last 24 hours as of this post, is incredibly good news for the long term prospects. That said, I'd be surprised if we were to really test these buy walls at 720 and 750 (on stamp) too much in the short to medium term. Lots of buyers spent money today getting cheap coins, which means 1) people are going to be less liquid to buy at current prices and 2) People who got cheap coins could add more selling pressure at these levels. So short/medium term, I expect a little downward pressure, but nothing too serious. A lot of low volume sidewise/slightly down activity similar to most of January. It'll probably be boring and unsexy. But, I can't help end today with a smile on my face (it helps I got some cheap coins... though not as many or as cheap as I would have liked lol). While I don't see us headed to the moon for now, I think today was actually a large step in the right direction. Nice to see a newbie with a sensible outlook. Welcome to hell!!!1 *edit* WTH? I am now hero member!! tremble with fear!!! Oh wait, remember that bitcoin does not require heroes. bitcoin does not require consent. And I'm just a joker who punches my fingers on a flat thing with a bunch of buttons  |
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OK, I have to admit, I sometimes feel the panic of lack of trust in the exchanges, so I decided to do a test withdrawl (some one many pages ago posted that they couldn't withdraw from btc-e, so I tested my exchange with a small withdrawl...  is that not the same shit that Gox was talking about? this is the first time I have ever had a non-confirmed transaction, even during the fork last year... (I think it was last year?) I still got my bitcoin, which at least gives me confidence that Virtex's system can account for these TX id's being changed, but is this transaction mixing going to become a real problem? and just how hard would it be to fix it? sorry for serious question. |
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Anyone want to fulfill this thread's purpose and provide some insight as to where we are headed?
UP *eventually* |
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I am talking about leveraged longs. BTC-E is a leverage trading platform via Meta Trader. Pretty sure this was a string of forced liquidations.
They should not allow monstrous leveraged positions to be build up that are larger than their own thin order book, this is just insane. Exactly. Insane, definitely yes. But it does not matter to us hodlers. In the central bank fiat world such a blow up causes them to print more fiat which negatively hurts me the prudent saver by lowering the value of my fiat. In the bitcoin world such a blow up only causes BTC-E and their customers to lose money, while prudent savers are left untouched with the exact same BTC as they started with. Agreed. You wanna talk insane? the central bank financing system is insane. Centralized systems are coming to an end. they have become unnecessary in the advent of the internet. the publicly audited, distributed, de-centralized accounting system now known as a "block-chain" is simply one more tool in the hands of the many that will help take back the power from the few. |
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That was the bottom of the bear market. I've seen it several times before and that's what it looked like. You can quote me on that.
LOL. All big dumps from here on out will be profit taking and not people cutting their losses. The weak hands lost their grip and gave us their coins. We're coming out of the valley and onto the plains, building up speed for the next mountain range. There haven't been any cheap coins if you are trying to purchase from Coinbase. They are still at $700 aside from the 5 minutes this early morning (Eastern Time) when they went down. I feel this pain, I have a 636 bid on virtex that also went unsatisfied. Why must you risk your money at less reputable exchanges in order to reap the proverbial "quick buck"? Oh wait... |
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All rallies are low volume. But yes I am going 708 BSP wtf. This is too high too fast IMHO.
It seems that arbitrage trading stopped after today's crash. Each market seems to be going its own way. The crash put the markets momentarily at hugely different prices, from 100 USD to 600 USD. It must have been a great stress test for the arbitrage robots, and they may have made some stupid and costly mistakes. Programmers now at work? I like this train of thought. I like to pretend that the meatbags still have a chance. |
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anybody else is unable to withdraw BTC from btc-e?
Is this real life? Is this just fantasy? Caught in a landslide, No escape from reality. Open your eyes Look up to the skies and see........GOX turned everyone over I'm just a poor boy ... again now that Gox has my coins. Easy come easy go, little high little low. Anyway the wind blows, nothing really matters to Gox. Mama, Gox just killed us all... Put a gun against our heads, pulled their trigger now we're dead. |
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I am talking about leveraged longs. BTC-E is a leverage trading platform via Meta Trader. Pretty sure this was a string of forced liquidations.
They should not allow monstrous leveraged positions to be build up that are larger than their own thin order book, this is just insane. Right, Btc-e is taking Huge risk , they are GAMBLING with Customers USD deposits by allowing 1:3 leverage. If those are indeed forced liquidations, btc-e suffered millions in loss. OK, I stand corrected, this is the most probable thesis I have heard so far... Still way behind and trying to catch up. |
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