Wow, that's a lot indeed! Seems like the panic phase is finally here  OKcoin and huobi have no fees and therefore the volume is meaningless, and, obviously faked. The policy has been consistent so the increased volume is significant. |
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But what's the problem with introducing people to bitcoin via gaming microtransactions anyway?
It would be better if the increase in transactions comes from remittances or merchant payments. But it's better than nothing I guess. I'm more concerned about hitting the 1MB limit before there is a solution to it being rolled out. A game app would not have be anywhere near as popular as angry birds to flood the blocks. There's no doubt though that there is panic selling too as well. But even Sarotoubi serves a purpose to pay miners, get the word out, and probably most importantly pay miner fees. They need those to stay solvent and we want them to stay solvent to secure the network. And if it pushes the devs to increasing block size sooner, great. |
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Bears insist on coughing up bitcoins. And tvbcof cheers. You're idiots.
The last thing I'm doing now at these prices is coughing up BTC. I might have finished off my early 2014 sales plan at that last $600 spikelett, but I didn't want to have my bank account shut down again. I'm not buying, but that's mainly because I still have as many in my stash(es) as I need. I'd consider buying again if not, but only after seeing some strong evidence that sidechains are on the way and that the Bitcoin Foundation bloatchain fork fails to materialize. I thought the fork was looking like it might happen a year ago and it was a big factor in my deciding to sell in the quantity that I did since it is likely to permanently damage Bitcoin. There's a thread up top asking about who sold at160. You probably did, didn't you? Why? Because your rhetoric, negativity, and personal attacks have palpably picked up in intensity as the price dropped. I won't let anyone forget just how negative you've been over the last couple of weeks towards Bitcoin I'll tell you right now. All the things wrong about it. You'll never live it down. |
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While annoying, troll idiots like nilneh and tvbcof are helpful signals in and of themselves as to bottoms. What would we do without them?
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to the SC proponents who insist that the 2wp will equalize fiat exchange prices across SC's thru arbitrage.
just look at the $16ish spread btwn Bitfinex and the Chinese exchanges. and this is with open, relatively equally liquid exchanges that DON'T have a 2 day lock up. just imagine how volatile and disparate an illiquid, insecure SC can get with manipulation.
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I've been gracious enough to share my insights over the last 4.5 years.
this is your problem right here. you crave admiration which is NOT forthcoming. |
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warning for Bitcoin Bears. Gold looks to be weakening and is threatening to roll over:  silver has really gone nowhere and can't even get up to resistance:  if they do roll here Bears, look the hell out. |
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When I started to get into BTC in 2011, it went from $30 to $2..
That's like us going from $1,000 to like ~$90 on a % scale wise... So yeah, Much worse.. :p
it actually touched 1.98 which was scary as hell b/c everyone thought it broke resistance and was headed at least to 1.00 |
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The last few times bitcoin wasn't profitable to mine on standard mining gear of that era @ electric cost of 0.10 USD/Kwh. hmm bottoms or tops?
Its starting to feel like $2 in late 2011 or $10ish in late 2012..
Back up the Truck at anything under $150.
i agree |
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And that assumes an honest market which now that Wall Street is involved is anybodies guess.
Wait, what?!? How is Wall Street involved in Bitcoin? They aren't but they are waiting/hoping with baited breath that it fails or gets hacked. Trouble is, the price right now is merely exposing fear and emotion while ignoring that it has not failed or been hacked. THAT is bad news for bears. We're very close to a major buying point. Leveraged longs are starting to build on Bitfinex. |
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In one month or two, Russia will face a huge wave of defaults triggered by low oil price, hyper-inflation and depleting USD reserves. First will be their oil companies, then banks and finally the sovereign debts.
The contagion will drag at least the Euro zone.
I didn't think that anything serves as a better hedge than Gold and bitcoin.
CNBC interview yesterday also mentioned this point of view.
In this big picture, it is temping to use bitcoin not only as an investment tool but also as a hedge towards possible Russian debt crisis.
In history, many notorious Black Fridays were triggered by Russian. Just cannot ignore this risk.
Whether it is this, or something else, the only thing we "know" for sure is in the next crisis the FED will print several trillion dollars to bail everyone out. That is a fact. Yes. Bitcoin is one of those asymmetric investments you "have" to participate in due to the enormous potential upside. Until or unless the protocol is broken, one has to assume it's going to work. |
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here's the 10 yr weekly:  |
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i swear, the Bank of Greece is dead, dead, frickin dead. and for years now:  |
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just to highlight, FCX, the biggest copper mine in the world, let alone for other metals, down a whopping -11.07% today alone:  RIP inflation. it's DEFLATION, that sweet smell (or rancid). |
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2y chart of copper, who the hell needs copper? let alone FCX:  |
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The time a major financial institution was hacked in under 15 minutes What about virtual currencies? People say they are secure and relatively anonymous, and folks are working to integrate Bitcoin into the financial system.
Bitcoin is used not only for legitimate financial transactions but for financial transactions amongst the folks who are doing the hacking. So I think it's going to be interesting to see — in one sense, if hackers, cybercriminals are using Bitcoin to move money around or do money laundering or other things as part of the financial portion of their operations, they're probably going to be somewhat reticent to develop ways to compromise Bitcoin. And actually Bitcoin itself is obviously based on an encryption algorithm, so that in some ways creates inherent security, as well. One could speculate that that would not be an attractive target because the guys who are the attackers are also using it. That's number one.
Number two, it comes down to how easy a target is to breach. There's fundamentally two parts to the formula for cybercriminals. One is, how big a target? How juicy is it? How attractive is it? How much money is there to steal? The other one is, how easy is it to breach? In mobile malware, for example, we see over 98 percent of the mobile malware that's created is created for Android. Why? Because it's much, much easier to exploit than iOS.
In the case of Bitcoin, you have to look at it relative to other forms of currency and things guys could go steal. I don't think it's the most attractive target because of not only who's using it but the difficulty in compromising Bitcoin.
As Bitcoin becomes more integrated with the financial system, do you see its role shrinking as the mode of exchange for hackers? Or do they wind up coexisting somehow?
That's a great question. This is purely my personal opinion, but I would expect to see it coexisting. I don't necessarily see it going away, and I'm not sure it gets more dangerous because of the anonymity that's involved for cybercriminals to use it and risk getting caught.http://www.washingtonpost.com/blogs/the-switch/wp/2015/01/14/the-time-a-major-financial-institution-was-hacked-in-under-15-minutes/ |
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