Another dump, moody is ticking it down as I write, I guess we might go below 12.9 now?

edit: I was wrong. Not 10k this time.

Thanks for pointing this out, send a few BTC their way.

Not a WTF per se, without having ever played EVE I'd wager there must be people who have been selling ISK for a long time now. That kind of enterprise seems like good training for running a Bitcoin exchange.

Mt. Gox was originally "Magic the Gathering online exchange" as far as I know, although under a different owner than it is now.

I was watching the latest dump tick through on clarkmoody, thinking "13's gonna hold, this is a 10,000 BTC dump". It was 12 BTC short of 10,000. Someone's being predictable?

Only if you think it's going up long-term and want to have funds tied up for a long time. I was thinking of someone wanting to milk the economy for a profit now, reliably, although with a degree of risk.

You wouldn't say that if you had done your research.

Who's "we"?

What if it's a bot. Logic:

1. buy up bitcoins over time, with assumption the price is going up.
2. while buying coins, gauge exposure to risk vs. potential profits of selling. Set a sell threshold based on past price / magic (depends on the bot I guess), trying to optimize the profits from selling and preventing getting caught out by a dip in the price. As the profit collected increases, the downswing required to trigger a sell will probably become smaller and smaller.
3. trigger sell, cash in profits, set aside what you made, start re-investing your base.

So... Up, down or sideways.

Perhaps they mean their leads ended at a shell account or such paid for with Bitcoin? I'm not sure that makes much sense, but the article's wording makes even less sense.

anyone doing business in BTC with expenses not payable in BTC.

So, according to this chart, we should see / should have seen prices around 3 USD.

Portnoy, you employ such a broad definition of "democratic" that you might as well ask if Bitcoin is righteous.

as for the question of dealing with conflict, my point was, Bitcoin is an attempt, of limited scope, at an end-run around conflict, making it unnecessary to consider how to resolve it.


Put it this way: people have headaches. Let's say we decide Ibuprofen is the best medicine for them. Everyone likes Ibuprofen now, no question about it. Let's then say someone has an idea on how to make sure no-one gets a headache in the first place - it makes no sense to ask if their solution is like Ibuprofen.

Still fuming in here?

Allow me to put it to you that the original question is nonsensical.

Horrible simplifications follow:

Government arises largely from the fact resources and space are limited. People have to share some things, at least the air they breathe, the water they drink and the land they tread. Conflicts of interest are inevitable and some process must exist to resolve them. At its most basic, that process is violence, but generally other solutions evolve.

All known solutions are flawed. Ideally, we wouldn't have conflicts, but we do, and must therefore deal with them. That understanding is deeply ingrained into us all. Most of us in the West tend to believe Democracy is better than all other forms of government we've tried, but few consider it perfect. Even so, for most people, the less they feel their lives are interefered with, the better.

Bitcoin isn't an attempt to make a better solution to the problem of government. It is an attempt to do away with the conflict of interest problem in a limited portion of our lives. The idea is not to need government to moderate Bitcoin, since the protocol is open, consensus-based, forkable and non-coercive.

It makes no sense to ask if a system is Democratic when that system has no actual government.

Doing local trades, currently via localbitcoins.com. Small-time, not trying to make a profit. I try to keep my fees low, enough to cover exposure to volatility and exchange fees etc.

Sounds good. Who pays the fees?

I can see why a somewhat impulsive rich guy (assumptions based on media coverage) with a whole bunch of legal problems might want to stash some funds. But yes, evidence please.

And here's me, with a sell on localbitcoins locked in, based on thursday's prices. Oh well, I guess it will go the other way around some other time, and it's a good opportunity to show integrity as a seller, not backing out.

If your browser looks like that, the rest of your OS isn't likely to be very secure, either.

Ah, I hadn't heard of this.

In that case I tend to agree with the assesment that a shitstorm is a-brewin, even though the writer appears to be a rather stodgy status quo conservative.