it will be better to have indefinite inflation of fixed or variable amount of bitcoins per block Then just use a blockchain that does that, instead of using Bitcoin. |
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Because it has about two assets with any value in them. How is that different to MPEX ? Different because MPEx does not also have a bunch of worthless cruft cluttering it. Different because MPEx has other stuff besides stocks (like options). Cryptostocks also has options. |
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I just want to say that DannyHamilton's very detailed hypothetical scenario is a great explanation of not just bitcoin prices, but of price fluctuation in just about any free market. I feel like bookmarking it.
Agreed! +1 DannyHamilton Agreed here, too! |
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I would like some more guidance from Coinbase on how to not be flagged as a "high risk" transaction. I wonder if it would help to buy less BTC at a time, for example. (In our two transactions that happened on the same day, I bought 1.0, you bought 10.0, I eventually got mine.) Does it have anything to do with how long you've been a customer, I wonder? It'd be helpful to know, if they can reveal anything.
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The best way I found to understand what an exchange is doing is to look at the order book tables on the bitparking exchanges. As an example, here's the bitparking Bitcoin (BTC) <-> TerraCoin (TRC) exchange: https://trcexchange.bitparking.com/mainHere you can see all open orders, the amounts and rates of those orders. They are divided into two sides: Buy (Bid) and Sell (Ask). They are sorted by price. In the third column, you can see recently executed trades, including the amounts and rates. As noted above, an exchange is not an actual party to any of the trades. They just let people deposit two (or more) currencies/commodities, and they allow people to place orders, and they track ownership of the deposits, execute trades when the prices match, and provide for withdrawals. Once you've made a deposit, the exchange takes custodianship of your deposit (so your bitcoins would presumably go into an address that they control, or your fiat currency would presumably go into their bank account), and your "ownership" is tracked only in the exchange database, until withdrawal. This bid/ask/recent trades data sums up what is going on on any exchange, whether it be Bitcoins, fiat currency, some kind of alternative cryptocoin, or some tangible commodity. If you take a look at mtgoxlive.com, you can see the exact same type of data in a graph format, updated live, for trades between USD and BTC on the MtGox exchange. |
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That's disappointing to hear. I would have at least wanted to have been given a reason.
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Renting my signature for a month; I'll award it to the highest offer by 00:00 UTC 26 February. (For those of us in the Western Hemisphere, that'll be toward the end of the day Monday.)
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Do you have an issue with coinbase? Have you contacted coinbase about it?
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If Coinbase can cancel your order if the price goes up, but you can't cancel an order if the price goes down, then what they are doing is essentially stealing a free put option from you. It is my assertion that this is exactly what they are doing and it is fraud. It hasn't happened to me, so far. |
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Well, so my 2 coins came back, but my pending order for 10 Bitcoins put in on Feb 15, 2013 just disappeared on the day they were going to issue the coins, Feb 21, 2012. You may be seeing the same thing that happened to me. Click on Buy/Sell Bitcoin, then click on Transfer History, and see if it's still there. |
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Yeah, the last trade has been bumping up there all today. Luckily I had read about the currency conversion thing elsewhere before posting about it.
Oh, now I understand why I saw $30.48 this afternoon. I saw that number and got all excited, told a couple of people, then looked again and it was $29.80 with a high of $29.97. I thought I had imagined or misread it. |
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Why would Bitcoins on the main blockchain hold their value if new blockchains are popping up left and right? Have you compared the value of coin on the Satoshi blockchain with coin on the other blockchains? |
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You can sell TRC on Vircurex for USD. For fun I put up a few buy and sell orders at various prices, and two of my sell orders just executed. I suppose that may be the world's first trade of TRC for USD, but I don't know for sure. https://vircurex.com/orders?base=usd&alt=trcSorry to hijack a BTC-E thread to talk about Vircurex, but BTC-E can turn that around by opening trade for TRC! |
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