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it's going back to less than $1 ... but will take a loooong time to get there.
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Still no good way to arb this then??
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That's a great threat marcus!! haha, freudian slip typo? what's the threat here, that bitcoin will be bigger than BKH soon? |
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chinese miners are true freedom fighters ... which of you in the west would risk your necks to run a quasi-legal operation under a communist, totalitarian regime? They chop heads off in china, the chinese miners probably have a stronger ethos for freedom than a lot of the part-timers in the west who pay lip-service to freedom and then hand fat checks to the corrupt governments and banksters while they get the shaft from them.
Bitcoin mining has gravitated to the strongest hands, just as it was designed to be ... you cant truly know freedom until you have truly known oppression.
It may be true, but it is still not trustless decentralization. Power corrupts absolutely and it will be no different an outcome if the power of mining is vested in too few people's hands. ... that's a different topic that is in no way unique to China. Smells like a lot of hurt white Western butt in here because they couldn't build computer hardware better, faster, cheaper than the chinese. Western white males measure themselves on technological success and they are getting pasted on the bitcoin hardware stakes so far ... time to up their game if they want to stay competitive. Harden up dudes. |
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It doesn't look to me like china is leading this rise but rather following along strongly. Bitfinex seems to ratchet up the price $5-10 on strong impulses that hold on to new levels extremely strongly without running higher ... and chinese exchanges follow along with similar moves, but with more fluctuations.
This must be a terrible market to be short in, it isn't allowing for any escapes, sharp runs higher followed by longish periods at new highs ... I'd be crapping myself if I was short from anywhere under 420 or even 430 now ... like being on the rack that is slowly getting tightened.
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chinese miners are true freedom fighters ... which of you in the west would risk your necks to run a quasi-legal operation under a communist, totalitarian regime? They chop heads off in china, the chinese miners probably have a stronger ethos for freedom than a lot of the part-timers in the west who pay lip-service to freedom and then hand fat checks to the corrupt governments and banksters while they get the shaft from them.
Bitcoin mining has gravitated to the strongest hands, just as it was designed to be ... you cant truly know freedom until you have truly known oppression.
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When the price exceeds $2K I will move 10% of my coins into physical gold. The reason for this is that I don't believe in keeping too much wealth in one asset class.
After that, the next price level at which I'd sell another 10% (of what's left) would be in the $10K range. With the strategy no matter how high BTC gets I will always own some. At the same time I won't die with a bunch of BTC that would only be spent by my heirs.
I find this interesting on two accounts: i) I can appreciate the idea of diversifying into other assets if you get top heavy in one or another but gold and bitcoin seem so similar as to be not a hugely different diversification and with added storage/transaction costs, I still like gold but kind of lump it into same risk/attribute profile as btc ... mostly. ii) dying with a bunch of coins instead of leaving them to unworthy heirs to squander is something that has crossed my mind ... one solution is to automate a transaction that has some portion of them to be sent to a burn address after your passing ... spreading wealth to all bitcoin users. |
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you and many others who think like you do not understand ... bitcoin is not a competitor to the existing financial industry, it totally subsumes it.
Bitcoin users are doing things that traditional finance is not even dreaming of yet. Bitcoiners are getting ahead and making a quantum leap in efficiency versus economic actors bogged down in the legacy system. Bitcoin will be adopted because of competitive pressures, those pressures will not be felt by the mainstream for a long time because their competitors are not even on the same platform. Bitcoin is filling in the niches and edge cases that existing systems don't even recognise or provide services for. By the time mainstream legacy currency users start feeling competitive economic pressures from bitcoin users it will be too late, their business models will be so outdated they will have zero time to catch-up because if their competitors are using bitcoin effectively in such a way as to out-compete them, and they are not, they are already toast.
Think about the Internet users, the early ones, they were getting ahead doing things in ways that no-one dreamed of but made them orders of magnitude more efficient (after they invested in a learning curve, modems, installing browsers, etc) ... many businesses only went online because they had to (it was adopt or perish). Right now it is tech savvy bitcoiners who are making the early knowledge investments to use an admittedly clunky system but by doing so they can avail themselves of bitcoins myriad of efficiencies, particularly with cross-border and private commerce.
Just can't believe how guys like this Transferwise CEO can be so blind to the competitive threat he is facing, knowing everything we know now about technology adoption characteristics and curves. He's toast. Send me his lunch over now and I'll get it over with.
Replace "bitcoin" with "distributed ledger" and I mostly agree. Distributed ledger technology is like the invention of search engines. Bitcoin is Alta Vista, first of a kind but unlikely to the be the winner in this space. Ok, you're really misinformed ... what you just said is bordering on not-worth-replying-to-ridiculous but I'll give it a go because you seem earnest. Distributed ledger technology is a necessary component of bitcoin but not the main invention, which is a trust-no-one global currency with embedded automated programmable contract adjudication settlement system. The protocol that achieves this magic is much more akin to TCP/IP, not a layer 3 search engine app (how did you get so mixed up??), the protocol has the tradeable cryptographic asset hard-wired into the protocol to achieve all this wonderful trustlessness, dismissing the tradeable asset (or the global p2p network) as analogous to a layer 3 search engine app is just silliness, marketing-wonk speak gone haywire. tl;dr You just compared TCP/IP to Alta Vista, sigh. |
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This is a Holders only refuge where good, positive ideas, speculations and long term strategies can be exchanged freely.
NB: Zero tolerance for intentional disruption, excessive FUD, gratuitous bearishness, thread trashing or other scatological troll tactics.
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 this is bad  hilariously, comically bad ... laughs don't come along more genuine and cheaper than slow motion train rekts playing out like this |
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What Taavet Hinrikus said: But we’re not seeing real people use bitcoin. And we don’t know what problem it solves. What I think he meant: But we're not seeing many affluent bank-customers use bitcoins yet. And that's an opportunity for us. There's a whole thread on bitcointalk about how people spend their bitcoin and the near unanimous answer was, they don't. Most bitcoin is being held or speculatively traded. It doesn't interface much with traditional marketplaces and very few commercial entities accept bitcoin directly (without going through bitpay or some other provider that converts it to fiat). This doesn't mean it's dead, but it seems quite unlikely that bitcoin (in its current, anonymous incarnation) will be adopted into the financial industry. Many bitcoin supporters don't want that to happen anyway, they'd prefer for bitcoin to subsume traditional fiat. Not gonna happen. But it could continue to exist as a parallel currency used by a minority of individuals with other digital assets taking the place of the lapdog of banks and FIs. you and many others who think like you do not understand ... bitcoin is not a competitor to the existing financial industry, it totally subsumes it. Bitcoin users are doing things that traditional finance is not even dreaming of yet. Bitcoiners are getting ahead and making a quantum leap in efficiency versus economic actors bogged down in the legacy system. Bitcoin will be adopted because of competitive pressures, those pressures will not be felt by the mainstream for a long time because their competitors are not even on the same platform. Bitcoin is filling in the niches and edge cases that existing systems don't even recognise or provide services for. By the time mainstream legacy currency users start feeling competitive economic pressures from bitcoin users it will be too late, their business models will be so outdated they will have zero time to catch-up because if their competitors are using bitcoin effectively in such a way as to out-compete them, and they are not, they are already toast. Think about the Internet users, the early ones, they were getting ahead doing things in ways that no-one dreamed of but made them orders of magnitude more efficient (after they invested in a learning curve, modems, installing browsers, etc) ... many businesses only went online because they had to (it was adopt or perish). Right now it is tech savvy bitcoiners who are making the early knowledge investments to use an admittedly clunky system but by doing so they can avail themselves of bitcoins myriad of efficiencies, particularly with cross-border and private commerce. Just can't believe how guys like this Transferwise CEO can be so blind to the competitive threat he is facing, knowing everything we know now about technology adoption characteristics and curves. He's toast. Send me his lunch over now and I'll get it over with. |
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We will look back years from now and say, "remember that MatTheCat guy that tried to short the BTC halving based on a 4hr chart? I wonder what happened to him?"
... dropped out of 101 classes to do a Start-up, then who knows. |
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Should the low volume be concerning?  .. for the shorts who are running out of bitcoin supplies? |
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Mat getting schooled, is that what this thread is about?
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Halving is not priced in ... it is now being and will be, eventually.
Think of it like the 6,3,2,1 month discount interest rate future pricing mechanism on money markets.
Equity markets don't work like rational discount rate computations. Rather they work on shifts in expectations coincident with momentum, since one of the rational actions is to chase price. So popular expectations are normally priced in early, which is why the maxim "buy the rumor, sell the news" exists. I applied that to publicly call the March top in the ETH price once Homestead was released (sell the news). Note in recent blogs, Armstrong is stating May/June, else August as the potential timing for a directional change. And bottom in gold maybe not until 2017. bitcoin is not an equity and behaves very little like an equity market ... or any market for that matter. That's why I said money markets ... |
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Where is everybody ... 4:20 on 4.20?
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Core logic: if bitcoin nodes are only ran by a few 1000 large entities then bitcoin has failed.
Classic logic: if bitcoin becomes a settlement layer only used by a few 1000 large entities then bitcoin has failed.
@adamstgBit logic - oops that actually doesn't exist (there is no logic behind your posts). Epic fail (and for those that are not aware he sold his account around a year ago so don't be fooled into thinking he has been around on this forum for years) U don't really know that he actually sold his account. he may have just sold his soul ... I recall one post where he said that banksters were paying him megabucks per hour ... now he has said he enjoys to post about FUD that he is thinking about ... maybe he just gets paid megabucks to post any FUD he likes to think about? 2+2=? I guess I would enjoy that too. |
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