It appears the bot is just executing a market buy of 0.0101 whenever the bear bot does his trick.
Ok, I see what you mean. It prob is just one bot then  |
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It looks like there may even be two buy bots. One doing 0.01 and another doing .00001
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Some bids are being removed, people not wanting to be left behind supporting the rally? Well, someone bought 356btc into that 13.60 bid. That seems a bit out of tune with the rest of the buys today. |
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Ok, either someone really hated that wall at 13.60 or the dude bought his own coins The march to break the 30-day high continues! |
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Weird, we finally break $13.70 and then someone decides its time to sell at $13.60.
Yea. That's really strange. I'm just going to work on the assumption that someone really hates me and is willing to sell BTC below value just to make me look bad  |
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Prepare your loins for a new 30-day high.
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Unless there is something I'm missing, the user count only has seemed to go up by 5k and I think that would be perfectly inline with the France/PSP whatever announcement and that huge reddit thread.
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I can feel the explosion coming if we pass $13.70
While breaking 13.70 will be nice, I am starting to feel that we won't see anything "stick" until we break $14.00 itself. After that we'll land in a spot in the $14s or $15s. Otherwise we're just going to dink around in the mid $13.XXs |
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I'm in the early stages of working on a video right now that highlights me purchasing a good/service from another user and exchanging BTC. The video would give a basic overview of what happens to the coin between me sending them and it getting to the other user, but will not focus on mining at all.
Early stages, but should be good and will be an actual, real-life example.
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Wait...smoothie doesn't even have any bitcoins? But...then...why...huh?
BRB, going to hang out on the yacht forum and troll people who actually have yachts.
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Someone is paying for it. It just isn't/never will be me.
And all the models assume I leave my hardware on 24/7. Isn't there a risk of my gear overheating or simply wearing out?
There's always that risk, but if you keep it properly cool I imagine you should be ok? I have a single GPU running 24/7 for over a year now and it's just chugging along. It doesn't make me much and I'm mining at a loss, but it's just nice being apart of it all Of course, since the ASIC products aren't out yet we can't test their durability. Who knows, they may suffer from their own ROD syndrome ala Xbox 360. |
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Electricity is essentially free for me. Does that change my situation any?
Sorta. Though ASCI is supposed to be highly cost effective in that regard so shouldn't make that big an impact on your numbers. If I had $1,299 to spend on bitcoin related ventures I'd either just straight up invest in BTC and wait until value goes up or invest in your own "company" providing a good/service whatever.  |
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They didn't add enough for fees when they sent it, namely.
Miners are don't have much interest in including transactions with little or no fees for a couple reasons. For one, if they started accepting those transaction it would entice people to include no fees ever on their transactions and the miners lose out.
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We have avatars. Fine, now I have one. Now you have no excuse not to agree with me! AGREE WITH ME! |
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I agree with evorhees, sgtspike and technomage that we should not talk about mining unless asked about it.
I'm gonna admit, I'm a little butthurt that you didn't include me in the list even though I brought it up first I have been tipping people like crazy on reddit over the past 4-5 days. People love it -- even those who have no idea what bitcoins are.
A typical reaction (from the /r/programming subreddit) is: "what the f*ck? you can tip people on reddit now?! AWESOME"
It is probably the single greatest thing to happen to BTC adoption rates. Now, if we could find a way to do this for youtube we'd be set. |
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New daily high, moment of truth approaching.
Eh, with the anemic levels of trading we've seen today I am expecting of just bumping along the 13.6X range. I would, of course, love to be proven wrong. |
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I've always said the following... never talk about bitcoin mining. Period.
When I tell people why gold is good money, I never discuss how gold mining is done.
If, during the conversation, the person asks "but where do new coins come from", answer like this...
"New coins are created by the network and given to those who contribute to the auditing/transaction verification process."
It would be good if the creators of the WeUseCoins video would update it, and remove mining entirely. It was probably good to introduce bitcoin to people via mining back in the day, but we are beyond that point now.
Exactly. I'm all for explaining mining if they ask, but only in the most generic terms at first. If they are interested enough and tech savvy enough, they'll be able to research that on their own in-depth and probably come out with even more interest in BTC than just hearing me blabber at them. |
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I disagree, but instead of "Mining" it should be called "Mining i.e. transaction validation / bitcoin issuance" which I strongly think would take away almost all of the confusion.
There is no way that is less confusing  Let me throw in a random example: [–]Zcypot 1 point 2 hours ago
I did this for 2 days, stopped. My 6990 is too damn LOUD lol. The heat coming from that thing is enormous! He thinks bitcoin = mining and if you aren't mining then you can't participate in bitcoin. It's possible he meant to reply to someone else, but ehhhhh.... |
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I'm not a fan of reddit, but the bit I read there confirms that mining should no longer be the first, second, or even eighth thing discussed when introducing people to Bitcoin. It either generates confusion or plants false hope in people. At this point, the vast majority of people who will be introduced to BTC will NOT become successful miners. These people will hear "mine your own btc with your graphics card!" and then get emotional whiplash when they realize they'll only be getting .01 BTC a day if they run they computer 24/7. Now, of course, some people may go on to setup sweet rigs or buy ASCI, but they will be the minority.
More focus on exchanging goods/services to generate BTC, less on mining.
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