vlad2vlad your a douche. the closest bitcoin copy is bytecoin so jog on!
i should know. it is a straight copy of bytecoin with only the ports, name and various other paramters which keep it as a different chain. SPEC wise it is a straight copy, so you can stop the hyping and bragiing that ixc is the best since its the closest copy since its not. IXC is a shitcoin which was left dead by the creator and he only came back to make an idiot like you go off on one again. You know? youve become the most unbearable person on this forum, even worse than finshaggy and spoetnik
Dude, I find it disturbing that you're trying to kill this guy's character just because you don't agree with him. Vlad has invested like 65 BTC on ixcoin ( and the man is unemployed with children ). So you can see why he's seriously committed to this stuff. Now let's compare IXC compared to BTE in technical merit. I'll be honest with you, no competition. Why? Look at the hash rate and difficulty. Not even close! |
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Even if the volume is low, you can just "buy market" and still get coins $30-$40 under Mt. Gox and $20-$25 under Bitstamp.
Have to admit that instant ACH to Coinbase was much easier though, and since it has gone up so quickly, probably resulted in a lower price. (By "instant" I mean that they give you the current price immediately even though it takes a week for your money to get there.)
That's the weird thing about them. They are like $30 below market. Why would anyone sell that low? |
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However, this just looks like another mild correction on the way up. I mean, we went up 70 points on Gox in less than 24 hours. There needed to be a correction.
I agree that this does not yet have the feel of a big correction, where bears sort of signal each other with consecutive sales, following an exhaustion of the buyers at the peak. We are witnessing price discovery. BTC is not a stock, it has behaved like one, but what it is, is now being "discovered". Do not worry about oversold, overbought, MACD crossing, etc. We are looking at an entity that is a: stock (in a sense, ownership of the network), protocol (to be used for other things as well - e.g. stock ownership, voting, ownership tracking, etc.), a payment system, a currency, an asset (this seems to be primarily how it is viewed right now, commodity, etc. If we continue to look at it like a singular entity and not the complex... for lack of a better word - digital honey badger that it is, it is going to run and we will still be trying to make sense of the chart. Once we have more data (months to years), then TA will make more sense. Till then, enjoy the ride.  Agree. Only relevant metric appears to be the difficulty rate changing. The Blockchained.com charts are the best indicators as to where it is going long term. Note: some of the charts are logarithmic!! |
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there's never been a bubble, just large holders dumping to accumulate more and scaring people away for a while..
+1 And it will happen again after the US decides on its digital currency regulatory policies on the 18th of this month. The news will create more questions than it will provide answers, giving the perfect opportunity to induce some panic into the public. *edit There HAVE been bubbles in the past, but this likely is not one of them... yet China , brasil , india , Iran , etc do not care about some pitty US rules. Even germany will not care. The $ is done and the world knows it  LOL even us here in California don't care!!! "rules" hahahaa  Capital controls tend to increase the price. Just look at China... and Gox.  That is a correct observation. Simple supply and demand. Kind of like the time of Prohibition in the U.S. |
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Likely the same API issue they've had in the past, because Bitstamp puts a limit on the number of API calls and then they ban you.
They should run their public API calls locally at a refresh interval and then cache them with their CDN. I don't know what's so hard, but that might just be me. Their current API setup is very unprofessional. Well, that's still the problem with many Bitcoin services: they've gotten overrun by bitcoin's and their own success and they're struggling now to scale their technology to an adequate level quickly... Yeah, imagine the fun when the reality that Bitcoin doesn't scale finally hits home. Not to mention all the money that's been put into mining. It doesn't matter how fast everyone mines or how much they've spent on it, they're still only going to get 25BTC every ten minutes between them. A lot of miners who purchased the latest 28nm are in for a rude awakening. There is no way they can recover the Bitcoin equivalent of their purchase price. They will be lucky to recover even the USD equivalent of the purchase price. They're probably in for a rude awakening on account of having done business with BFL, they'll be lucky to get their Monarch cards before the last bitcoin is mined if BFL's history is anything to go by. I made the mistake of ordering one of their 7GH/s miners. I'd still be waiting for it now if I hadn't changed it to hosted mining, and I only did that because it wouldn't have even covered the cost of its own electricity, this way BFL have to pay the electricity bill and I don't have to pay import duty so at least I shouldn't make even more of a loss. I only did that because the bastards refused to refund me after they delayed so much that it was worthless. Well, I won't be making that mistake again, bye bye bitcoins. I feel sorry for those who've given thousands to BFL, at least my loss wasn't that much. If you assume a timely delivery of product, the best one can recover in USD is about 75% of the purchase price. if a delivery is delayed by a month (considering the rise in difficulty), the buyer may be able to recover at best 30% of the purchase price. |
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$449 will be the crash. It's the next prime number. Big psychological barrier, especially with the nerdier crowd.
Chineese nerds , read diffrent signs like 2650  Good point about the Chinese seeing a different number! Levels like 300, 350, 400 etc. don't have meaning when likely 1/2 of all trading is looking at a different number!! |
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Likely the same API issue they've had in the past, because Bitstamp puts a limit on the number of API calls and then they ban you.
They should run their public API calls locally at a refresh interval and then cache them with their CDN. I don't know what's so hard, but that might just be me. Their current API setup is very unprofessional. Well, that's still the problem with many Bitcoin services: they've gotten overrun by bitcoin's and their own success and they're struggling now to scale their technology to an adequate level quickly... Yeah, imagine the fun when the reality that Bitcoin doesn't scale finally hits home. Not to mention all the money that's been put into mining. It doesn't matter how fast everyone mines or how much they've spent on it, they're still only going to get 25BTC every ten minutes between them. A lot of miners who purchased the latest 28nm are in for a rude awakening. There is no way they can recover the Bitcoin equivalent of their purchase price. They will be lucky to recover even the USD equivalent of the purchase price. |
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Look at Bitcoin go over $400, and with little news.
So I have to make a small adjustment to my crazy theory.
When Bitcoin gets the ETF license, it will not be worth as much as gold, it will be worth at least 4 times what gold is worth and it will do it all by end of next year.
Yeah, that puts Bitcoin at $5,000+ next year.
Don't call me crazy, I'm just telling you what's gonna happen. This is even crazier than my crazy.
Crazy!
There is $7 trillion worth of gold in the world. 1% of $7 trillion is $70 billion. If Bitcoin was worth 1% of all gold in the world... Bitcoin price will be $6,000. |
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I think the reason china exchange is higher then mtgox, is they don't have many early adopters selling, creating a much bigger demand then supply compared to the rest of the world. And the rest off us can't exactly put bitcoins in there and transfer the money from china to home.
That is indeed interesting observation. If fiat can't move freely between borders, then the amount of Bitcoin per border (i.e. country) is also limited. So this makes the total Bitcoin pie if much bigger than expected. Let's say China needs 1/4 of all BTC, U.S. the other 1/4, Europe 1/4 and there rest of the world the remaining. That means the U.S. trading public sees only a limited supply of 11 million/4 -> A little less than 3 million bitcoins!!!! |
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Why would you blame this on Bitfinex. Just keep track of the order book depth. You are responsible for your own positions and risks, not Bitfinex. I have no complaints yet, I moved from Gox to Bitfinex.
I can't trust Gox. But all of a sudden... I need to know if Bitfinex can be trusted. Who are the folks behind this? We got a lot of folks with Italian like names but the firm is incorporated in Hong Kong. Do they have the license to operate from Hong Kong? I was some assurances that they got a legit operation going. |
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 Shit man, I had a smoothly going short from 355 USD just now, backed up by this 2500+ BTC ASK wall at Bitstamp that is still standing there untouched when suddenly this happened. I just lost a 1000 USD on a totally sound position and I would have been wiped out if I hadnt put up a Stop order at 360 (that got executed at 369). I know Bitfinex was risky for various reasons but thats too much. I know you have discussed your BTC shortage on Bitstamp some posts up, but the same issue arises again no 24hrs after?? No one can trade this reliably without getting wiped out by things like this that shouldnt happen in a professional service. It uncomfortably reminds me of the infamous starfish at Bitcoinica when they had their liquidity crisis shortly before they shut down. I have lost alot of money on various kinks that shouldnt be but I cant get used to this one. Im out. All the best and see you in a couple of months (years?), Spekulatius Going short can be treachorous. There a swing of over 10 USD ahead of the market at times. For the squeemish or folks who have like stop orders, its can kill you! Going margin long is also problematic in that you're paying a huge interest rate. Still, I like the exchange for the options that it provides. |
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Bitfinex is pretty big. The 24 hour volume is 32k BTC and 59k LTC.
So it could be almost as big as Bitstamp (which gets a lot of its trades, possibly as much as a third, from BFX).
US lending is growing rapidly. Several months ago it was around 1 million - now $2.7 million.
It isn't running out of money. US lending rates haven't risen dramatically over time (they are less now than during the crazy $266 bubble).
Unlike Bitcoinica, which limited lending rates to 20%, BFX has higher rates (typically 30-50% APR, or 100%+ in a crazy bubble) and thus more supply.
Do you know if Bitfinex is legit? I have an account, but am about uneasy about the latest news of an exchange in Hong Kong scamming their customers. Anyone have any info of the credibility of the owners? |
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TLDR. Ffs, it's Monday morning, fuck off with the text walls.
Simple answer, design a second coin, people mine that coin, and trade it in for your shifty scam coin, with 100% PREMINE. People then hold it, and get really pissed off, because no exchange will ever add it, and it remains worthless.
Why so much anger? Is it because the GIL coin you so fervently support is going to get DELISTED at cryptsy? |
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Any other plans for this coin besides mining?
Lots more. Stay tuned!! Interesting, please keep us informed. indeed |
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You do realise that Litecoin uses SHA-256 don't you? The proof of work is not SHA-256. For the calculation of the merkel roots it does, but not sure how this is even exploitable! The transaction signing is the same but uses Elliptic Curve signatures. This is not too much of an issue if you change your addresses often. |
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The fact that there are new bitcoin miners that operate at the terahash level on just 28nm technology means that the NSA has for a while now had terahash machines that could brute force crack and sha256 encryption. |
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It is illogical to say that a 'mining percent distribution' removes value from a coin. Example: DVC (DevCoin), FRC(FreiCoin), ZTC(ZenithCoin)
Say you have 2 coins, coin A which you get 50 coins per block and coin B which you get 25 coins per block and the other 25 goes to the DEVS.
So when these 2 coins hit the exchanges, assuming all being equal coin A will have twice as many coins as coin B.
However, is coin A have the same value as coin B?
Coin B could be twice as valuable or ever greater than coin B because it has a built in maintenance fund.
So even if the miner of coin A has twice as many coins, it may not be worth as much the miner with coin B.
This is also like comparing IFC (infinite coin) where each block creates hundreds of thousands of coins.... should have millions of IFC be worth more than someone who has a few BTC?
Ultimately, does not matter how many coins you have or mine.... what matters is the value of each coin!
Complaining that a miner gets half of the coins per block is like a miner complaining that only 25 coins are created per block instead of 25,000.
Completely illogical.
Note: This is different from a mining fee by pool operators. The reason is, there may be another pool with a lower mining fee.
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