I was able to make a smaller withdrawals on the 6th without issue, so I'm not sure what the problem may be..

In the past, Zhoutong has been very quick to respond to tickets and answer my questions, so I'm sure this matter just needs to get his attention to get resolved.

Well I wasn't trying to make accusations per say. I was just noticing the timing of events happening and thought it might be of interest for some. It was enough to make me curious.

Those two guys could have exchanged their coins a while ago and they are just showing up just as well. Many possibilities.

Wish I had opened an account at TH and had some funds there to buy some, but kinda concerned also because of what I read in #mtgox today.

Curious as to who is trying to dump so many coins at $3 at TH and why not get more $ just selling at MtGox unless they don't want to get caught selling stolen coins or something. Earlier today on #mtgox there were couple people who had their account on hold because they found trace of Allinvain's coins.

http://pastebin.com/4eiSCMB5

MtGox usd withdrawal request is giving an error telling me to check my input and try again. I've submitted a ticket via support tab.

Can you look into this? My account name is same as forum name. Thanks.

Difficulty and price was never chicken or the egg. Miners never voted on what btc is worth. They must decide if it's profitable mining by first looking at the price compared to current difficulty and their electricity rate. If is it profitable to mine in you location based on that then you mine. If it's not then you would get a better price from the market offerings. Explain to me how you can do this backwards as in chicken or the egg? If you are thinking hoarding, that is different. That has to do with miners feeling more confident about the future price and not selling immediately putting themselves at risk to possibly gain more.

It's always been one way. And huge people quitting mining or jumping in to mine does not change the btc generation rate. It just changes how many people will have to share the same amount of btc being generated every day. And bitcoin mining was never get rich quick scheme. It's had a short run of couple months from Apr to June rally with large profit margin followed by now 5 month long decline which narrowed it back down to almost nothing. It was just more competitive way to get bitcoin than buying at market price at different junctions of bitcoins history depending on your electricity rate. 

Does your prediction leaves room within 1-12 weeks to see new price lows before we get to said $6-10 range? Or are you predicting we won't be seeing prices below $3 anymore?  For speculators who will buy the dips and sell the spikes won't care about 12 week out prediction to $10 imo. That type of statement will only get the ones that are fearful of missing the leaving trains so to speak.

But really, if bitcoins were to rise again, and I believe it will, I personally don't mind waiting until the market is showing clear rally signs until I get back in. $3-$50 or $5-50 isn't gonna break me, but $3-1.5 or $3-2 drop is if I'm holding on bitcoins. For that I am patient for now.

I'm sure more advanced traders like old engineer will simply take their profit from dips and spikes and provide liquidity when then market settles in a trading range. For that bitcoins is doing just fine now and I would even argue bot traders prefer current low price and would only like having more volume added during the "stable" periods to improve their profits.

I would also like to make a prediction. Within 12 years bitcoin will be the world reserve currency.   Oh I can only hope.

Yeah I'm living in live/work commercial zone loft and I can get decent rate from DWPLA. I'm definitely lucky to have low rate especially in cali.

Lets just say that .07 is just the rate. There are plenty of taxes in california on top of that and that is the lowest rate of the 3 tier system. I had to lower my mining output to remain low tier and whatnot.

I mine and I would love to see the price to hold steady/rise while difficulty adjusts to it, but I'm afraid you are right about this as much as your weekend projection.

Unless we see a clear upward movement with high volume past at least $4 mark, we are only going to see small volume movements near $3 until we inevitably drop again like we have been. Because miners only have such small margin for profit, they are likely to sell right away if they are profitable to not go in negative teritory, or simply quit mining if they aren't profitable.  And longer we linger around same pricepoint, lower their confidence will be to hold. This slow loss of confidence by miners after first difficulty adjustment after a big dip is easily noticeable on the price charts represented by very low volume trading that continues for a week or maybe two which is followed by slowly accelerated selling starting the next wave down.


What you are pointing out is merely the cut off line for miners to be able to enter and be competitive not losing money doing it. Price can easily go down to drive away more miners as easily as price going up will entice more miners to return. If you say the "average" cost to mine btc is more than $3, it's just means those miners are better off not mining and not facing a loss and the market is offering the coins cheaper than he/she can mine them.

I can't say about average, but my electricity after tax and all the other fees at $.07 right now is still profitable by a very small margin which keeps me mining. Others aren't as lucky and have long been out of the mining game since the downtrend. The cost to mine bitcoin isn't a leading indicator to what the actualy value of bitcoin should be. I would love to see the price go up so that I won't have to sell everyday just to make sure I stay profitable. Holding and price dropping it's bottom on me will ruin the little margin I have right now. But it is what it is and I haven't been convinced that any long term trend shows a clear reversal.  

Here is a link showing you that difficulty drop in percentage that is easy to see for people. http://btcserv.net/bitcoin/history/

I guess seeing a difficulty drop percentage less than -18% may serve as a sign we are getting closer to finding the bottom, but then it would be easier to just look at the price to determine that outright instead of trying to forecast it with projected difficulty change.   

As a miner, I am selling my daily income because the margin to make profit is very slim. I can't take the chance of price dropping again even a little and taking the little margin I have taking me negative.

It's just way too unpredictable for me now and price percentage swings have been getting higher as we make lower dips making this risk even greater. I won't have any risk losing money mining this way for the time being.

I'll be completely fine with buying back in at $5+ in a confirmed rally situation to take my share, rather than risking my money @ $3 now in a long term decline trend trying to find bottom. I can wait til things change in the other direction though.

It has gone up until recent fall back down from $3.8 because the price dropped down all the way close to $2 and many stopped mining, then came back when price recovered back to $3.8.
Also the difficulty for a short time was looking to go up, but it doesn't seem to be the case anymore unfortunately.

All this is showing is the delayed reaction of the miners coming back shortly to mine while it's still profitable, but as the general downtrend continues, it will go back down like it has unless the actual price recovers.

This time around the recovery from losing miner to the previous price dip was amplified by the price falling by about 100% and recovering nearly 80%+ of the fall unlike the previous ones that dropped less in price percentage.

That changes the profitability quite a bit for miners which is showing on the graph. They will either drop or rise again depending on the price of bitcoin. It's certainly not the other way around. The leading indicator is the price, not difficulty or mining power of the network.

Banking system included I suppose for sure. They fall in this catagory like no other. It was more of a generalized comment on how the world tend to face the morality of issues and bow to power/control/profit.

How about when it's not a matter of greed but deceit? I guess whatever pays the bill is good? Gotta love the low stale numbers for sure. 

the bears are out n bout! 

Just as i write this a 2.9 just went pooof.

well.. I think the 15k+ $3 wall having been destroyed in matter of few hours might have hid the cross from view for the time being.. unless this is a false breakout.

I really hope this time going down we find the real bottom. It would be bad to lose even more miners when it's perfect time for them in winter also.

Once we turn this around, we can all enjoy some family time during the holiday season with a hope for a happy bitcoin new year to wrap the bubble up.

Can someone show me what is the correct format to setup multiple workers in user.cfg?

I've tried following the example in the user.cfg getting creative and looking for some basic python syntax online for some noob guide, but yeah.. 

I'm definitely doing it wrong and could use a hand.. 

I think that people are anti bitcoin for a very simple reason. It's a new concept to most people.

Many people who are anti bitcoin also are likely to have very little idea of how our current fiat system works.
Like politics, economics is easy to put on our back burner in our daily lives. Especially so if you've been desensitized to seeing the warning signs by the mass media.  

Progress from being unaware of using a broken central banking system that holds monopoly on money production to understanding bitcoin enough to appreciate it's p2p decentralized advantages isn't going to happen overnight. It's going to take time for a new mindset about money to take hold in people. Once the collective majority of the innovators' and early adapters' mindset has shifted away from the old system, we will finally see the true explosive growth in bitcoin. Of course this is me having faith in humanity to recognize the faults of our existing system.

Also the argument about exchanges being shutdown and what not may be as bad as it seems when you think about the banks being propped up by the tax money bailout. The real bankers already did the same thing with fiat money. It's just our gov is propping them up with more of our money. At least with bitcoin you only lose what you risk and noone is forced to pay to keep the exchanges open.

I want to see a rally because I support bitcoin, but if this is the capitulation part of the correction then I think there is much more way down to go before we come back up for air.

People know price of bitcoin does not effect bitcoin's functionality as a currency in any way. They can still do everything they were doing with bitcoin regardless if the prices were at $32 or $1. Just means it's too volatile to put your money in it as an investment right now which is exactly why people are and have been pulling out for a long time. Why would anyone invest in bitcoins on a downtrend when you can put the same money into something with the trend in your favor? Only if you need to use bitcoin as a form of currency to do something with it in the near terms, would someone buy some at current volatile downward climate.
 
Your observation of every tiny rally getting killed is very true because more and more people are realizing the very same thing and adding to it.

If this drop is to be the opposite of the rise to $32 then we haven't even started sadly. It doesn't mean we won't come back to $2 to stabilize after it's over, but I would suspect we will go down below the actually bottom before coming back up to finding it as the bitcoin economy demands push the price back up where it belongs.

If we can just get enough people to cause that spark for the rest of us then it would be perfect. I guess I'm too chicken to buy bitcoin myself right now because I definitely don't wanna be the guy to catch the falling knife right now after that scary drop down.

If enough people buy bitcoins to strongly rally past $3.5 or something, I may consider buying back in. The wall doesn't give me any piece of mind since the same 50k bitcoin wall at $6 and $4.8 went down like nothing when it was time. $2.2-2.3 seems like it's the new $4.8 and even if it bounces now, it won't be more than a day or two long until it's right back down again.

But as long as someone else buys enough bitcoins to get this going then I think everyone will be happy about the reversal. People can finally be bullish and happy again.