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What just happened?! BTC jumped from 5.x to 7.x and return. Now is trading at 5.x but by cents, there're no ask walls, you would need to go up to over 8 to see the first 1k+ ask.
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Here's what went on when it went down:  No wonder no fed or central bank is running a forum  |
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...this makes me wonder if there's a "F"'ing admin in this place...
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Day traders are a good thing, they slow rapid growth by selling high, and stabalize declines by buying...its the inexperienced who are hurting bitcoin selling low and buying high, making it really erradic
Guess you might be right and I probably jump into swift conclusions, FOREX is filled up with day traders and it doesn't bump. This inexperienced kind tend to be in a too much of low stack and high panic mood. A kind that looks to enter too late and jump out too early and anxious: «gold is good» BUY! BUY! BUY!... «oh my God! I'm loosing 1 buck!» SELL! SELL! SELL! BTC is experiencing the same outcome of commodities - not quite currencies - lately as many inexperienced day traders join because "they saw in the news". To the bottom end: Experienced day traders works as sentinels on a currency/good. Inexperienced day traders works as market bumpers. |
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I dont see that, as long as it fluctuates there will be day traders
The question for quite a while is that the price doesn't "fluctuate", it bumps hard up and down. Day traders are like parasites, an economic disease. They cause massive deflation while entering and massive inflation while leave. This is actually because their actions have the opposite effect on the thing they're speculate about; while entering they inflate a bubble reducing the usability, and therefore the value of such thing - EVERYTHING in this planet derives its value from the use people found on it, there's no intrinsic value at all -, while leave they promptly cause too much deflation, running like scared cows, and shift the value by offer overflow, whereas at some point the thing they're leaving actually already worth more than what they're getting. We're standing over a bend point; either some of them notice the shift and reenter, infecting the market for a while more, or they just leave and bitcoin becomes more stable... at least until the next batch of parasites show of. |
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but when the price steadies wont they just buy back in with even more bitcoins?
Doesn't look like, if that would be so the price wouldn't be dropping so much and at such fast pace. "5 min traders" are simply going away. |
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Bitcoin had been undoubtedly the investment of the year.
The late panic people is missing all the points and point out the major issues of bitcoin, the mind of many bitcoiners;
- When you do an investment for a year, 2 years, 5 years. Yet bitcoiners seams to want to do a 5 minute investment... with profit.
If you invested in bitcoins last September you'd bough them at 0.2 USD each, selling 1 year after you would get 5.37 USD, 5.35 USD of profit on each coin.
Now go to your bank and ask about the best investment for 1 year. You're looking at what? 5%? 6%? Not even gold got this up trend during the year, to not mention for gold you would need a lot more starting cash to get in.
And how about if you need the money 6 months from now? Ouch! You'll loose all interest and even pay a penalty.
«Oh! But my bank is warranted to give 5% interest» Is it? Read carefully the small letters, you may come in to a small surprise like "previous earnings are not a warrant of future earnings" or so (this means, last year we paid 5%, we expect to pay 6% this year, but... you may get 4% or even -something%).
- "Mining" difficulty. It simply DOES NOT matter, it goes down when "miners" switch off their rigs and up when they switch it on. To the best this measures the trust of a few nerds on bitcoin. To not mention many or most of them fit within the "5 minutes with profit investment" portfolio.
Now, seeing the current price plummeting of bitcoin, I've to say I'd been waiting quite long time for this. Time to ditch out the bad seeds, the "5 minute profit" traders and the massive deflation and inflation they caused. Time to built, finally, a bitcoin economy! I'm looking at all the projects I've on hold since btc jumped from 1 to 3$ then to 30$ USD.
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"move up" -> steadily increase its price for a considerable time frame.
Not -> "bump and bounce".
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What manipulator?
It's early September, time when, in the North Hemisphere, people buy books, clothes and all school paraphernalia, an easy "many hundreds to thousands USD, EUR, CAD(...)" expense.
As there're no Bitcoin market to this kind of stuff, yet, people will rush to cash them out causing a low. Nothing out of the extraordinary actually or unexpected. Next week this settles and btc will move up again.
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Hi,
Do any of you perhaps know why I would get a Internal Server Error when I create a new account or when I log out?
Thank you,
Hamburger
Look in the error.log of your server. The answer must be there. Maybe a misconfiguration, that error is common within miss .htaccess configs |
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3) Contrary to popular belief, spending Bitcoins does not make them more valuable or bolster their market price. In fact, the opposite is true, when you sell a Bitcoin in exchange for a good, you are expressing a preference of the latter over the former and increasing the supply of Bitcoin while decreasing the supply of goods. In other words, every time you sell a Bitcoin, whether for USD or a good or service, you are increasing the market supply of the coin and thus it's relative price will be slightly less. Consider the counter-factual: if nobody ever sold a Bitcoin for anything, it's price would rise to infinity. If your goal is to increase the BTC price, don't ever offer them in a transaction for anything.
Translation of this load of baloney: «Hold the door for me while I cash out» |
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Except that Bitcoin is at a 50% inflation right now.
Gold is also a deflationary currency and yet its price is skyrocketing.
But if people were mining gold faster than people were buying it, it too would be losing value.
That's a misconception of the market, actually most of the liberalism havoc is due to such "linear view" of "supply and demand". Between supplies and demands there's speculation. Actually the gold will not be "skyrocketing" much longer as speculators by betting so much on gold's future are in fact removing value of it. You see... things have value based on their use, they're worthy or needed and cause demand, more demand = higher prices. By speculation, gold hasn't any demand on its main purpose, jewelery, as being so expensive it becomes a bad investment and ultimately a danger to its bearer. The same went on with Bitcoin, by being so deflationary at such fast pace it literally broke all bitcoin-based businesses, what created less demand and speculators were just inflating a bubble of something themselves made worthless... just what they're doing to gold now and something else when the current gold bubble blasts. |
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I'm OK with that, I'm in "buying SLC season", so the more they turn CH down the better.  Already have more than 1K Solidcoins (and about 2K IXCoins) to put to my "pen freezer" and wait. |
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How does that invalidate wolftaur claim that solidcoin as a whole is now proprietary? Because without coinhunters changes it would no longer be solidcoin.
It doesn't, it is proprietary but not in violation of any license it crossed. |
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Wrong turn! Solidcoin isn't close source, just license limited.
LGPL allows this, MIT allows it, BSD allows it... the only viral license is GPL.
Nothing Oracle can do... it's up to the users to use or not CoinHunter's stuff.
Actually, CoinHunter's "You can't modify it without my permission" makes it proprietary software, even if source is available. I may have the source but I can't edit it according to CoinHunter. Remember, free and open source software, free != free as in beer. The Sleepycat license is only for software which isn't distributed. He made his own changes proprietary, that's the surplus of LGPL and all OSI when compared to GPL, and simple as that... he can do it. A small issue about this, I don't give a f**k about software licenses... so for me he might well print that in stained toilet paper. But for people caring for that... well... he can do what he did. |
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You can get the latest source from https://github.com/BCEmporium/PHPCoinThe cron folder is phpcoin-cron, you should copy it somewhere outside the webroot and config the abspath to the installation. The main account can be changed on the database still. |
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Besides arguing that takes time away from your main hobby of being an apologist for CoinHunter.
Here comes the usual straw-man arguments... No, I'm not, but also not a Troll to go spam the forum with bs. |
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Wrong turn! Solidcoin isn't close source, just license limited.
LGPL allows this, MIT allows it, BSD allows it... the only viral license is GPL.
Nothing Oracle can do... it's up to the users to use or not CoinHunter's stuff.
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So let me get this straight, you are claiming there is absolutely no PERCEIVED difference between a .COM and Country TLD. Well then I would love to hear the intelligent reason behind why, with your very own site www.mbtCasino.com that you chose a .com over .pt for your homeland of Portugal. Because you knew that a .com was considered more legit, that's why. Which was my original point.
Wrong pal, I "chose" .com because there's no way I could register a .PT unless I've a company registered with that name or such is my civil name. So, in the subject of legitimacy, .PT is way more legit than any .COM. «I-dont-have-this-company-registered-anywhere-but-the-name-was-available-for-registering».COM exists «I-dont-have-this-company-registered-anywhere-but-the-name-was-available-for-registering».PT doesn't Here you've a little FAQ about the .pt TLD: http://dominios.pt/domain/examples.aspx |
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