This thread is quite bullish. Panic buying is in the air  |
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Holdings as of 11/20/2013: 182,592 BTC.
I'm curious: why would you disclose this? Someone that would like to manipulate the market at some point. Imagine the effect of a post by Loaded saying he is willing to unload |
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I'm having a deja-vu of the conversations we had in the Summer. Coinseeker said BTC was doomed, that it was a joke, and that the future was Ripple. He said that BTC was a bad investment compared to Ripple. We all know how that played out. BTC price surged 7 times and XRP has lost 12 times its value against BTC. Well played, Coinseeker  Ripple remains the future and XRP is holding quite stable verses the dollar. Obviously verses BTC it's higher, because BTC is worth more now. Genius.  And it was well played because I always kept BTC. So BTC is/was the worst investment ever and was doomed to fail but STILL you "always kept BTC". Mmm... So basically you were just trolling? Cool story. Quote where I said, "Bitcoin was/is the worst investment ever." And it's still possible for Bitcoin to fail, so don't get too arrogant. It's all still speculation. This is the very first quote I found by looking at your profile, but there are at least hundreds more: When someone can explain to me how Bitcoin plans to retain value without any real way to use them, maybe I'll be bullish again. But all indicators tell me that, Bitcoin is a sinking ship. Doesn't matter what miners are using or doing. Without mass adoption, it's just monopoly money, propped up by speculators. And please, if you're going to try to spell it out for me, spare me the libertarian, bible thumping fantasies. I need to hear something with real world substance.
Your indicators indicated you very well. |
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I'm having a deja-vu of the conversations we had in the Summer. Coinseeker said BTC was doomed, that it was a joke, and that the future was Ripple. He said that BTC was a bad investment compared to Ripple. We all know how that played out. BTC price surged 7 times and XRP has lost 12 times its value against BTC. Well played, Coinseeker Ripple remains the future and XRP is holding quite stable verses the dollar. Obviously verses BTC it's higher, because BTC is worth more now. Genius. And it was well played because I always kept BTC. So BTC is/was the worst investment ever and was doomed to fail but STILL you "always kept BTC". Mmm... So basically you were just trolling? Cool story. |
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There's honestly no reason to be bearish on Bitcoin, for any reason, except the centralization of Bitcoin. (Which seems they are proposing) The only thing required to overcome the 1mb limit and maintain it, is to increase off blockchain transactions. This is what Ripple is for and will allow Bitcoin transactions with virtually no limit.
Though Ripple is centralized - does this not beat the purpose of Bitcoin entirely? In essence we'll have created a commodity like gold, but NOT a currency. Even if Ripple were centralized, which it's not, it doesn't defeat the purpose at all. Because the Ripple protocol is about transactions, not storing Bitcoins with no counter-party risk. If you buy a Gyft card, you have to send BTC to Bitpay, a centralized company. Is that an issue for you? Using Ripple gateways is the same as this or any exchange. Frankly at this point, it's not worth spelling out further because soon most consumers will be utilizing the Ripple network and won't even know it. The point in my original comment was, there's already a working protocol that solves this. That's why diehard Bitcoiners created Ripple, they knew the limitation of the Bitcoin payment network. So, 7tps is not a reason to be bearish, centralization by the Bitcoin devs, would be however. Ripple is based on trust. it will fail. I'm having a deja-vu of the conversations we had in the Summer. Coinseeker said BTC was doomed, that it was a joke, and that the future was Ripple. He said that BTC was a bad investment compared to Ripple. We all know how that played out. BTC price surged 7 times and XRP has lost 12 times its value against BTC. Well played, Coinseeker |
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i freaked out and sold a large portion of my coins around $600, suspecting the price would continue to oscillate between $400-700 for a couple weeks... (i know)
do I
A) wait it out hoping for a better price to get back in
B) take a loss and buy back in at $750
C) ??
thanks guys
Buy back everything and have some fresh fiat ready in case it flash-crashes so you can make up the loss by buying more. Just sell little by little in the future. Selling BTC is risky in itself - selling a large portion of one's stash is just reckless unless you've made so much profit you'll never need to worry about money ever again. |
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I think we're at or approaching 1 tx a second.. so we need 7x as many were getting now before we start to worry about that.
Imagine the utopian mass adoption that's being fed to the public. Take a small country (or a large American city) with about 15 million inhabitants, or 5 million households. Every household will have to do groceries about each other day, so that's 2.5 million customers in supermarkets each day countrywide. Day has 24 hours, so that's 104166 transactions per hour = 29 transactions per second And this is for one small country only, for only the basic needs (food), and that's already 4 times what the Bitcoin network can physically handle. You're not going to convince me that the Bitcoin protocol will ever be able to sustain a world economy for day-to-day transactions. Hence why I'll always be bearish, even though it's a great market to profit from atm. Nonsense. Only a retard would think that a block-chain based currency is efficient for day-by-day purchases as grocery shopping. As warchwoord said 1MB max block hard limit was placed BY DESIGN. The point of BTC is the universal ledger and the possibility for everyone to run a full node. It's meant to be a safe and decentralized way to store and transfer value (among other things), not to be a micro payment network competing with Visa or PayPal. 99% of BTC economy is driven by investors and speculators, what makes you think that it has to change at some point? You don't buy groceries with gold neither. Are you calling the whole of Kenya a retard? they use it for day to day shopping for groceries. I mean maybe it would cause more problems though if it was all fully mainstream The whole Kenya is not using Bitcoin to buy groceries. Not a single city in Kenya is using Bitcoin to buy groceries. The current block soft-limit is 250kb. If a single city of Kenya was using Bitcoin to buy groceries, the 1MB hard-limit wouln't even be enough. |
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99% of BTC economy is driven by investors and speculators, what makes you think that it has to change at some point? You don't buy groceries with gold neither.
That is exactly my point as to why it would never be a CURRENCY in this format. Remember that this is the picture that is being fed to the general public, and they will invest based on this assumption. It took me weeks if not months of research to get a clear picture of what BTC is and how it is used - do not expect the general public to do the same right from the start. They will do that when the bubble starts to properly pop. The general public doesn't care about paying con Bitcoin their groceries, the general public buys Bitcoin just because it is supposed to increase in value. |
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Given the fact that bitstamp is the only exchange serving USD withdrawals reliably, id say that the US is feeling bullish after the Senate hearings. It will be interesting when we couple with BTCChina.
The mother of all Bitcoin bubbles is not here yet, but you can start to smell it.
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I think we're at or approaching 1 tx a second.. so we need 7x as many were getting now before we start to worry about that.
Imagine the utopian mass adoption that's being fed to the public. Take a small country (or a large American city) with about 15 million inhabitants, or 5 million households. Every household will have to do groceries about each other day, so that's 2.5 million customers in supermarkets each day countrywide. Day has 24 hours, so that's 104166 transactions per hour = 29 transactions per second And this is for one small country only, for only the basic needs (food), and that's already 4 times what the Bitcoin network can physically handle. You're not going to convince me that the Bitcoin protocol will ever be able to sustain a world economy for day-to-day transactions. Hence why I'll always be bearish, even though it's a great market to profit from atm. Nonsense. Only a retard would think that a block-chain based currency is efficient for day-by-day purchases as grocery shopping. As warchwoord said 1MB max block hard limit was placed BY DESIGN. The point of BTC is the universal ledger and the possibility for everyone to run a full node. It's meant to be a safe and decentralized way to store and transfer value (among other things), not to be a micro payment network competing with Visa or PayPal. 99% of BTC economy is driven by investors and speculators, what makes you think that it has to change at some point? You don't buy groceries with gold neither. |
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Yeah, it costs 7 times more but now it can't be used as currency with all these +/-100 USD swings. Early adopters happy but the rest of the world can't use it even as store of value, because when it crosses 1000 USD mark the early adopters will cash out again. Of coz u can hold it until it reaches 2000 USD mark, but will it?
So sad you sold in 2011. You should have kept some. Yeah... Wait, I sold at 200+ half a year ago! And keep getting them as payment for my coding service. Don't worry about me plz. Sorry for your loss. I'll advise not going full fiat unless in case of extreme need - full fiat tends to make people bitter and angry. |
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Bitcoin was not premined. Hal Finney mined block 70-something, that is, the same day the Bitcoin software was released. You can read it here: https://bitcointalk.org/index.php?topic=155054.0Quoting Hal Finney: "When Satoshi announced the first release of the software, I grabbed it right away. I think I was the first person besides Satoshi to run bitcoin. I mined block 70-something, and I was the recipient of the first bitcoin transaction, when Satoshi sent ten coins to me as a test. I carried on an email conversation with Satoshi over the next few days, mostly me reporting bugs and him fixing them." Good to know. Thank you. Nonetheless, my intention is not only to find proofes, that bitcoin was not premined, but also to make a story about bitcoin invention, early development, etc... Hopefully it's not too late to do that. It's all on the internet - specifically on these forums. Do you want us to hold your hand? Just use the search function, dig through the early threads, read Satoshi's posts and the discussion in which he was involved... Its not so difficult. |
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Yeah, it costs 7 times more but now it can't be used as currency with all these +/-100 USD swings. Early adopters happy but the rest of the world can't use it even as store of value, because when it crosses 1000 USD mark the early adopters will cash out again. Of coz u can hold it until it reaches 2000 USD mark, but will it?
So sad you sold in 2011. You should have kept some. |
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New release coming up real soon. You can try out the testing builds already present on the official site to see if the this issue occurs again.
Yes it does. It happens when Bitcoin-Qt loses synchs with the network and needs to catch up (for example because you were disconnected from the internet for a while), then Armory does the "Armory Bitcoin Client quit unexpectedly" thing. |
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I'm running Armory 0.88.1-beta on OS X (currently 10.8.5), and it occasionally crashes, displaying a dialog titled "Armory Bitcoin Client quit unexpectedly."
I've always been in either Advanced or Expert mode.
Afterwards, I don't see any immediate error upon simply restarting Armory (without doing anything else like restarting Bitcoin-Qt or the system).
I don't know of any obvious triggering event for the error (so I don't know how to reproduce it).
I don't recall it happening while I was actively using Armory. Sometimes I was away from the computer and then returned to see the error.
I couldn't find that error phrase in this forum. Has anyone else seen this problem and/or know what could be causing it?
Is there further information I can get now, or later if it happens again (e.g., by clicking the "Report..." button) that would help diagnose the problem?
This happens to me too in 10.8.5 when Armory loses connection with Bitcoin-QT, or when my computer goes to sleep and Bitcoin-QT loses synch with the network. |
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Risto, when do you plan to buy back at a loss - or you already did? (please bear with me  ) It is not that simple - "My" holdings are held through multiple organizations, which also have other stockholders, and they all have their different targets for investment allocation. - Then there are arbitrage, OTC, and exchange operations that require fiat capital and are more profitable when there is high volatility, prompting to have more fiat at those times since it generates more BTC as the arbitrages are juicier (while also providing hedge against catastrophic loss when most needed). - Then there is our family target of having a balanced allocation of crypto, precious metals, RE and other. Since crypto is the only one that tends to appreciate, if I sell too much and the price-chasing does not work, the situation corrects itself naturally and soon I am again looking for a new bubble to sell into. => If I make a move, I do it based on thorough analysis (thousands of lines of Excel data and hours of analysis before this one), have considered all the possible outcomes and assessed the probabilities, found a positive expected value (where the value function is a complex aggregate of all the goals of the different actors whose wealth I manage) and a bearable worst case. Then I see how it unfolds, and pocket the profit or loss according to the plan. If bitcoin goes up, it is a profit really, because it opens up new opportunities to influence the world to the better. Also in this case it rewards us with a 7-figure fiat position. If it goes down, then my greatest pleasure is that my market analysis was correct, and I also get to cash out a small amount of fiat, and keep the bitcoin count the same or even slightly increase it. So this is also profit. With bitcoin, you cannot actually lose, that is the beauty of it   A 7 figures fiat-position is just 2k coins ATM. In January this year, 2k BTC was just $40k BTW: Bitstamp bulls are preparing the assault to ATH ($750). Grabbing popcorn. |
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Has anybody so far reported not being able to WITHDRAW funds from Bitstamp?
Yes! Still no wire from Bitstamp. Request date: 12/11 amount: $21k What does it say in the "withdrawal" menu? "In process"? "Waiting to be processed"? |
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Holy shit. $33M bids on Gox. $14.65M bids on Bitstamp. That's ATH in bids - and we are breaking an ATH in bids every day. Engines warming up? Rocket about to ignite to the moon? Risto, when do you plan to buy back at a loss - or you already did? (please bear with me ) |
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Again and again , why does it have to either crash or go to the moon , can't it have a week of relaxation around this comfy 700 price?
Because this is Bitcoin |
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