 BTC-China & MTGox in sync for the last 10 hours |
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One thing that didn't come across/wasn't discussed is that you can divide Bitcoins into smaller parts.
I think we need to move to mBTC before folk begin to understand this. A guy at my work didn't understand this either and he's a programmer like me. He assumed that they could only be moved in whole units and didn't understand how that would work if its a currency. When I explained it can be divided to 8dp, and that could be changed in the future he was like "ahhhhhhh that makes a lot more sense" we had an invitation to a major german venture capital company to present a bitcoin business idea. they had no clue what bitcoin was. so we started to explain it. when it came to the "there will only be 21 million btc ever existing" thing, they said that no economy can be built on just 21 mio pieces. we tried hard to tell them about divisibility. they did not buy it. they asked questions like " but who is setting what divisibility comes in place, who is controlling it ?" I think what is important for lay people to understand is there are no obvious flaws in bitcoin. If they think they see an obvious flaw or some way in which it won't work, it is important that they understand that they don't understand it yet. This is difficult without insulting peoples intelligence, but I find if you let them 'save face' by explaining the underlying system is only really understood by cryptologists and mathematicians, they dont feel so dumb and resistant to something they don't get straight away. This gives them the time to absorb it. |
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Listen to yourself, then listen to others advice, and then listen to YOURSELF.
People with vision and courage change things, but if you become the average opinion, nothing will change.
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The last hour or two we've lost 1000BTC to $1000 on Bitstamp.
But still 6500BTC to go.
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You don't see too many posts gloating about they sold at the top and rebought at the bottom.
Trading fees really eat into your profits when taking advantage of small swings, so you gotta wait for the bigger swings. I sold at 1035 and rebought at 930. Btcchina's no-fee trading sure looks attractive. And what is BTCCHina's business model? How do they generate revenue? They spend a few weeks faking lots of trade gradually increasing the price and enticing western money in with their no-fee trading.....it all stops and they disappear in their G650...... |
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Be bold and hold, do not what you are told.
Don't sell that virtual gold for mold,
for the cancer that is paper.
Nice  |
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Yes, you guys are right, its priced into an efficient market, and its anticipated by the miners.
But I can't see a positive reason for it being like this, but the negative implications of it, can probably be dealt with.
There is no compelling reason to change, but if we could do it all again, perhaps it would be a better way.
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Party time  |
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Every 4 years the Bitcoin reward halves, this creates a significant event in the mining community where people's operation suddenly becoming unprofitable, this may cause some unpredictability and instability in the bitcoin ecosystem.
Why isn't this reward smoothed so it is a function of the block number, no major jumps, just a slow decrease in the bitcoins mined each block?
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8800 BTC to $1000 on Bitstamp
2100 BTC to $1000 on Gox.
Clearly people are cashing out, and even if Gox breaks $1000, bitstamp will take a while to follow. 1400 BTC to $1000 on Gox. What do you mean people are cashing out? People are cashing out and buying in all the time ofcourse, but the buyers clearly are dominating over the sellers at the moment. I mean, people are selling on Bitstamp to cash out because Gox dollars are worthless unless you are trading. |
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8800 BTC to $1000 on Bitstamp
2100 BTC to $1000 on Gox.
Clearly people are cashing out, and even if Gox breaks $1000, bitstamp will take a while to follow.
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I'm not about that at all mate. If I believe that a sell off will occur, it certainly we be thanks to me writing some shit on this forum. I believe a large dump at this rather precarious tip will be enough to start some panic selling. Panic is what I will be relying on, because that shit causes people to sell their grandmothers in the hope of not being left behind.
Did you ever post a bullish sentiment? |
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Its not an insult, you guys need to research about this reptile dude b4 even bother reading his post. He was a laughing stock. Then he admitted that he needed help and checked into rehab. None of that is an insult. I'm shocked seeing him back and the same old "i'm loaded, i'm dumping coins" BS.
I truly hope him well.
There are lots of mental conditions that have no bearing on someones ability to trade and engage in serious and informed discussion, you need to back off, and take people as you find them. This thread is full of people trying to manipulate, and although no doubt there is some serious money here collectively, it is becoming more and more diluted. |
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@rpietila, back on board, or still waiting for cheaper coins?
He's made it clear when he plans to re-enter..why not just let him say he's re-entering himself if he deviated from his plan which I doubt he would do without some major revelation. And you should believe him; why exactly?  He did give up advance warning of his Saturday night sell off, which I'm equating with that well planned multi-exchange 10K sell off. I don't think he's gonna time stamp it for us... but he's not all out.. so why is it people try to troll him as if he doesn't have the required BtC to reap the rewards of to the moon scenarios. I certainly wasn't trolling, the question was genuine interest, I too have respect for rpietila's opinion. I think the current position is on a knife edge, we could go either way. |
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@rpietila, back on board, or still waiting for cheaper coins?
He's made it clear when he plans to re-enter..why not just let him say he's re-entering himself if he deviated from his plan which I doubt he would do without some major revelation. And you should believe him; why exactly? He did give up advance warning of his Saturday night sell off, which I'm equating with that well planned multi-exchange 10K sell off. |
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@rpietila, back on board, or still waiting for cheaper coins?
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Transaction IDs or it didn't happen.
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I've never gone to great lengths to hide who I am but I do try to keep my precise whereabouts a secret, for my own personal safety, and for the safety of the coins in cold storage.
Some investors have said before that they would feel safer if my location was public knowledge, but I don't think they've thought that through, because:
a) if everyone knows where I am then it's easier to rob me, and
b) if I was going to steal the coins, I'm sure I would move to a new location first!
I understand your desire for secrecy, especially with that 50k+ wallet. I think we need to move to another paradigm when it comes to the anonymity of people like you. $50M is obviously a staggering amount of money which would push many people into criminal behaviour. The data stored in that wallet is possibly worth more than your entire street. (Please note I am not suggesting anything here, you have shown honesty throughout everything I have seen on this site), We also clearly need a dead mans switch and provisions in case your house burns down etc. Perhaps, we need some information that is handled by a trusted 3rd party, in escrow (lawyer?) or shared between some trusted agents. Clearly I don't want to damage any existing security you have in place at the moment, but security through obscurity is not really sufficient. No doubt this is all moot until something terible happens, but bank managers are held ransom for a few tens of thousnds of dollars, and following the Tradefortress event, publicly understood procedures need putting in place to mitigate risks to both you and the investors. |
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I am considering an investment in just-dice, However I have a question I couldnt find an answer to, Dooglus are you anonymous or is your identity known publicly?
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