a quote from their site:

"Did you know, holding bitcoins as an investment asset can hurt the entire bitcoin economy?"

What righteous bs

great topic, I would love to hear from those more knowledgeable than I am on it.  I'd imagine it comes down to server security.  putting reserves on different drives is probably a good idea and then just transferring funds in when the active drive gets low and out when there is surplus

this thread got off topic, but oh well.  there are niche uses for bitcoin that make it superior to other payment methods, many of which I am sure are undiscovered at this point.  Maybe someday it will become stable, widely accepted, etc, etc, but the seed of this economy will come from bitcoin's edge over other currencies in niche areas.

Do you mean "end of correction"?

It seems like every other post on this forum references bubbles or bursting bubbles or "it's definitely not a bubble" or "how is this not a bubble", etc.

Do you even know what you are discussing anymore?

First of all, a financial bubble has many meanings to different people.  If you're talking about credit fueled bubbles, then it's IMPOSSIBLE that there is a bubble in bitcoins because none are being lent into existence.

If you are talking about a speculative mania, I propose to use the term "blowoff"

This is common terminology in technical analysis and is much more descriptive because it describes super-parabolic rise at the end of a rising trend.

If I'm way off base on this, please correct me

That didn't work either.  Oh well, I don't restart bitcoind much and putting -daemon isn't a big deal.

markets can literally do ANYTHING, but what is interesting is what is probable.  $20 before a deep correction is possible, but not probable at this point IMHO

I tried putting daemon on its own line in bitcoin.conf and I got:

EXCEPTION: N5boost16exception_detail10clone_implINS0_19error_info_injectorINS_15program_op tions14invalid_syntaxEEEEE
unrecognized line in 'daemon'
bitcoin in AppInit()

terminate called after throwing an instance of 'boost::exception_detail::clone_impl<boost::exception_detail::error_info_injector<boost::program_options::invalid_syntax> >'
  what():  unrecognized line in 'daemon'
Aborted

oh well...

so is there a line you can add to bitcoin.conf so you don't have to put -daemon in every time?

OMG adding -daemon did the trick!  When did THAT change.  I swear, learning to program/server admin is going to make me go grey way too fast!

I've never had to do what you are describing before.  Usually, it says:

bitcoin server starting

and then gives me the command prompt again

Hi all,

Thanks in advance for any help you can offer me.  I am trying to run bitcoind on ubuntu 10.10.  I've got the tarball from bitcoin.org extracted.  when I run ./bitcoind from the directory it is in, it tells me to define rpcpassword in my .bitcoin/bitcoin.conf.  I create the file and put in rpcpassword=password.  Then when I run ./bitcoind, nothing happens.  The command prompt disappears like it is working on something, but stays that way for minutes upon minutes. I left it for half an hour with no change.  I was able to ctrl+c to get back to the command prompt, though.

One thing I noticed was that a bunch of files were created in my .bitcoin folder including wallet.dat and a database folder.

I've been chewing on this for hours and can't seem to crack it.  The most frustrating part is that I've installed it before in the same way on other machines with no problem.

if we all agreed "it's a bubble," still no one would know what that means because we haven't defined a speculative bubble.  All of the definitions I looked up referred to markets trading above "intrinsic value," but there is no such thing.  Exchange rates in speculative markets (like bitcoin) are determined by what market participants are willing to buy and sell at, which is determined by our feelings of optimism or pessimism.  Everyone thinking bitcoins will appreciate leads them to buy, which pushes up the price, which leads more people to agree, and so on until everyone is in a state of optimistic euphoria about the market, but by that time, everyone who will buy already has and the price has no where to go but down and the whole process starts over but in the opposite direction until everyone is pessimistic about bitcoins.  That's when you buy

I've still got my buy order down around parity.  The higher it goes at this point, the more likely the drop begins.  It will be interesting to see the shift in tone around here when that happens.  When everyone is doom-and-gloom on bitcoin, time to buy.

That being said, I sure wish I had 12x my money instead of 4x, but oh well, many who think they've 12xed will have lost by the bottom.

Ok, my prediction was exceeded by today's spike and my order was filled, but if it falls from here, I will call my prediction accurate.  If not, oops!

correction, HAS grown.  If you want to capture those amazing returns, you have to have an exit strategy.

kiba sounds like he's been burned by the market.  sorry bro

I came up with $4.54 using elliott wave theory guidelines.

After some analysis tonight, I have come to the conclusion that the most likely end to the current rally will be at 1 btc = $4.54.  When I say end, I mean a major top will form and the price will drop at least 33% from there.  I will be putting in a sell order at $4.25 for my entire account as soon as I transfer my bitcoins there.  I'll go a step further and call an end to the drop at around parity.

Anyone else have any predictions for a top?  Anyone think it will go up and up forever without any major pull-backs?

Thank you sooooooooooooooo much!

The the problem was they were all strings.  I cast the $amount as a float and it worked!

$amount = (float)$amount;

Are there any weird variable type requirements I might run across in the other commands, or are they all strings floats and ints?

Hi all, I have run into some trouble using the bitcoin api with php.  When I issue a command like:

$bitcoin->sendfrom($userid, $receiving_address, $amount);

I get an error like:

fopen(http://...@localhost:8332/): failed to open stream: HTTP request failed! HTTP/1.1 500 Internal Server Error

But when I hard code in the parameters:

$bitcoin->sendfrom("1", "1LDNLreKJ6GawBHPgB5yfVLBERi8g3SbQS", 10);

it works fine.

I did notice that I had to put quotes around the variables in my parameters for other functions to work.  For example:

$bitcoin->getnewaddress("$userid");

But every combination of quotes or no quotes produces the error in the sendfrom function.

Thanks in advance for any help you can give.  Let me know if you need more info too.