19 USD gap Think bitstamp will soon break 100 USD Bitstamp on the daily chart looks very strong. Four hits at that $100 resistance. Looking at $125 after it breaks through.
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The spread just took a big jump.
▲ mtgoxUSD 118.9900 ▲ bitstampUSD 99.9900
Spread: 19%
What happened?
As each day passes, and MtGox is no nearer getting back to normal withdrawal times, the market is slowly ratcheting up the probability of their sudden closure. Any fiat and coins will then be trapped. MtGox has prior form when it comes to not releasing other people's property: https://bitcointalk.org/index.php?topic=260225.0
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use bitcoinwisdom or clarkmoody
Both give (me anyway) a better view of the orderbook and recent price history. However, I am staying away from MtGox until people report transfers taking < 1 week.
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I'm not sure what the true stats are but I'd wager that more people die on the roads in western countries in one year than died in all the "terror" related incidents of the last five decades against those same western countries.
Absolutely. The whole "War on Terror" and anti-terrorism policy agendas in the West are a massive over-reaction. It is a symptom of the cradle-to-grave nanny-state ethos where government knows best and must "protect" the lives of citizens at all costs. The fundamental flaw here is that the cost of doing the impossible means a turn-key Stalinist state is built which rolls back many years of hard won civil rights and principles of the rule of law. Freedom is being destroyed in the West in a misguided bid to save it.
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Here's a theory. Gribble may be taking the difference as a percentage of the MtGox price, whereas it is most logical to use the lower Bitstamp price.
e.g. last trade on bitcoinwisdom at the time of this post MtGox 112.05 Bistamp 98.60 Difference = 13.45
So, 13.45 / 98.6 = 13.6% and 13.45 / 112.05 = 12%
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contemplating making a large purchase It had better be large, to make up for interrupting a possible record sequence of chart-buddies! i'm looking to pick up 50 Probably a good a move. Can't argue with these cavirtex prices, especially if you slowly acquire at the bid: Last Trade 91.03 Best Bid 91.05 Best Ask 93.45443
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contemplating making a large purchase It had better be large, to make up for interrupting a possible record sequence of chart-buddies!
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That assumes governments are informed, rational, and make logical decisions. Take a look at online poker. A nearly useless series of laws simply drove the money, jobs, tax revenue, and innovation overseas. The key word in your conjecture is "learn" and historically regulators haven't been very interested in learning. It is entirely possible they won't learn, and will stiffle/cripple innovation in the US and the money, jobs, tax revenue, and innovation will simply flow overseas. The good news is Bitcoin is global and it will adapt around a broken US regulatory structure. The bad news for entrepreneurs in the US (myself included) is that Bitcoin surviving doesn't necessarily mean they will survive.
I hope they learn, and do in this case think they will because Bitcoin is as global as the internet itself. I take the point that they still might not. Why do you think regulators care about the US economy and jobs and tax revenue and anything else like that? They only care about grandstanding and making themselves look good and hassling bitcoin companies and individuals is the way for them to do that.
Sorry. But that is just too cynical. The situation with regulators is that these people genuinely believe that most business would screw over their customers at every opportunity without regulation, and that ever more regulation makes companies behave ever better towards their customers, the defenseless public. This mind-set stems from a systemic failing of society. Most regulators have never worked in mainstream business or owned their own companies. They come out of academia, or other government sector departments, or places like the Vampire Squid, who really do want to screw over their customers at every opportunity. A city-run regulatory hit-squad in Detroit is still closing businesses because of infringements with the kaleidoscope of regulations there. No wonder that city is bankrupt. They just don't understand that businesses create wealth, and all government ever does is redistribute wealth.
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Interesting to see the LA Daily News item syndicated to regional papers...
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this is one of those thoughts you should keep to yourself. if i could slap you, i would
Me too. Virtual slaps delivered. If the media reported such an event, the probability would be that it was from anti-bitcoin disinformation source, inspired by ideas such as the OP in this thread,
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Los Angeles Daily News explaining Bitcoin to its readership - and it's the future! "math-based currencies like Bitcoin, which enable transactions from one user to another without official oversight or high fees, could upset the centuries-old tradition of paper money much as user-generated Wikipedia all but replaced the venerable Encyclopaedia Britannica."http://www.dailynews.com/business/20130816/bitcoin-changing-money-to-change-the-world
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China and Russia are the key to US regulation being pitched at a reasonable level, after the NY and Senate investigations are finished.
Once the regulators learn how much is being done in the bitcoin space in these countries, and that crippling US-based Bitcoin (and all crypto) businesses, will leave an empty highway for the foreign domination of this internet-based revolution in finance. The only way to have influence in the direction of this technology is to allow local companies to compete worldwide.
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Under the FinCEN guidance, An administrator is a person engaged as a business in issuing (putting into circulation) a virtual currency, and who has the authority to redeem (to withdraw from circulation) such virtual currency.
There is no method of withdrawal from circulation, unless you include destroying the private key, which any user of bitcoins could do. There is an argument that they are not permanently unrecoverable. The coinbase transaction itself is not like a currency issuance, the currency issuance was done when Satoshi put 21 million bitcoin into the protocol. The coinbase transactions are merely discovering these previously issued currency by findiing the correct block hashes. And it would actually be the pools (or whoever does the actual coinbase transactions) since pool miners are exchanging processing power for btc, which is nothing like currency issuance.
Agreed. So, arguably miners are not issuing bitcoins either.
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Yesterday saw an all time high for the number of daily Bitcoin transactions: 72,278 (as measured by Blockchain.info). https://blockchain.info/charts/n-transactionsThe gambling site BetCoin seems to have a high volume lately, however, the record number of current news items, over 110,000 picked up by Google News, indicates a sustained level of real-world interest which must be driving some extra usage.
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This is the best web-based BTC charting software. Well done.
Now I have moved from MtGox to Bitstamp, a couple of questions...
Can more orderbook levels at the 50c price increments be shown? Can more history be loaded up? 1 year would be great!
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Fantastic! Very happy to see results like that - especially measured in msecs
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Have the LTC enthusiasts been living in a deep cave system for the last 3 months? No one can get fiat out of MtGox and it is increasingly hard to put fiat there. So MtGox is dying.
Now, it could offer a BTC/LTC market like BTC-E. But once Bitstamp and the other exchanges grab all of MtGox's fiat/BTC business then the BTC/LTC trading there will be a small sideshow on the cryptocurrency world stage. It will not cause a price ramp which is what all the LTC enthusiasts want.
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