The problem is too many people use Bitcoin just to churn out more Dollars.
Too many speculators, manipulators and centralisation in the form of ASICs.
If you want to help the price go up don't sell them for Fiat go out and spend them. Put the Bitcoin.org logo and site on your dollar bills to help spread the word.
Demand to pay in Bitcoin in every restaurant and pub you go to. Answer their questions, tell them it's not controlled by any bank or government. Tell them it's like sending money with email and we all remember what email did to the post office.
Get your friends to go back to that same merchant over the coming weeks. If they see it hitting their bottom lines they might get curious.
This. I think we should have a pamphlet made, that people can print out and hand to the manager at every restaurant and shop they go to. It should briefly describe what bitcoin is, why they should accept it and how they can go about accepting it. Why hasn't the Bitcoin Foundation done this yet? (or have they and I don't know about it?) The guy who runs Mad Bitcoins suggested leaflets. I see what Frozenlock means about it maybe coming across a bit pushy but why not try it out? We're all leaders now, no need to wait for permission. Just do it. I would like to human DDoS merchants. I will go in to starbucks on City Road London and demand to pay in Bitcoin. We need 9 other people to sign up to do the same over next 2 weeks. Any takers? |
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If you want to help the price go up don't sell them for Fiat go out and spend them. Put the Bitcoin.org logo and site on your dollar bills to help spread the word.
This would only be true if your merchant didn't cash out to USD at time of sale. Good point, ask them first. I still think it's marginally better than just sitting in front of a chart buying and selling, although you could argue that it's not putting as much drain on the blockchain  Then again spending the coins helps to set social norms. |
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I think we're aiming at $25. Too much Hopium keeping the price up, people dreaming of financial independence. But dreams don't come true without hard work and there are too many people sitting out on the sidelines and just speculating rather than working to invent the future we deserve.
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The problem is too many people use Bitcoin just to churn out more Dollars.
Too many speculators, manipulators and centralisation in the form of ASICs.
If you want to help the price go up don't sell them for Fiat go out and spend them. Put the Bitcoin.org logo and site on your dollar bills to help spread the word.
Demand to pay in Bitcoin in every restaurant and pub you go to. Answer their questions, tell them it's not controlled by any bank or government. Tell them it's like sending money with email and we all remember what email did to the post office.
Get your friends to go back to that same merchant over the coming weeks. If they see it hitting their bottom lines they might get curious.
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My guess for the bottom, if I am realistic: 12 $. Maybe 15, maybe less ... Maybe even less than 1$. I'm not going to argue about most of your post. But since you're new, I want to provide a history lesson, along with an argument as to why I consider <$1 to be an extremely unlikely scenario.  This is a chart of the end of 2011. After the first Big Bubble popped at $33/coin, the BTC market was in a downtrend. Many predicted, on this very forum, that BTC was dying and it was just a matter of time. The price got to $2 in mid-November. At that time, Mt. Gox experienced the biggest trading volume ever - a record that remained unbroken for eighteen months. For several days, the market threatened to break through $2/BTC. It did not. Even in the face of a bubble that brought the price above $1/BTC and had been slowly sputtering out for six months, even among doomsayers who believed with all their hearts that the Bitcoin experiment had failed and prices like $30/coin were a one-time event, never to come again... even in such a climate, people wanted BTC for $2. People wanted them enough that the price never crossed that line. It was an insurmountable foundation of support, and from there the price began to climb again. Now, the BTC price has beaten the previous bubble - market participants know that high prices were not a one-time opportunity. There are major online services that accept it, other than Silk Road. There's been media attention. In today's environment, what could possibly hurt confidence in the currency any worse than it was hurt in November 2011? What could possibly make people less confident in BTC than they were a year and a half ago, when they bought in with all their might at $2 a coin? Don't get me wrong; I think the price is going to keep falling for a while. When I try to rule out my emotionality, the math of it looks like we're going to either $30ish or $11ish as our nadir. But given what happened in the latter days of 2011, I cannot imagine what would force the price below $2/coin that wouldn't have done it then. Wise words. |
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Vince Torres, it would be nice if you had a BitMessage address on the website so we could contact you if/when we have problems using the site. There is literally no contact or support information on the website. Ps I also have the same problem with getting my .bit page to forward to anything besides your website.
I echo this sentiment. I tried to register a .bit and I sent the money but nothing happened. |
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A real challenger for Bitcoin would have to be a better invention that won't be a fork of the original code and won't have the word 'coin' in the title.
These coins are largely marketing efforts with a sustained innovation model. So community and determination is key to their success. FTC is the most promising on this basis.
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I actually find it more complicated and annoying if you start associating names with numbers, what's the point? It's nothing to do with people thinking in round numbers. It's just that some people have a preference for different sorts of mathematics. I recently discovered if I look at programming with different colours on it I have a much easier time reading everything for instance than I do in the bland default view and so on, you just got to make it as customisable as possible so people can use what they prefer.
I like this idea of customisation. That's exactly the point, to make it more accessible people need to interact with it in a way that suits them. I think over time what will emerge is a consensus among merchants. Re round numbers, that was more to do with when people buy the coins, I have noticed they tend to want a whole coin or a whole $100 worth of coins. |
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You need two names, and no more.
Bitcoins for everything bigger than a bitcoin, and Satoshi for everything smaller than a bitcoin.
so, 0.01 bitcoins becomes a megasatoshi
What is so difficult about that?
That's a good suggestion. Thanks. |
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You are not the first to come up with this idea, e.g. Blockchain.info allows the users to view their balances in milibitcoins (mBTC) There's no we need, you are free to fork the client yourself and introduce these changes, it's all here for free. I think the price and adoption is still too low to bother much about and people will probably arrive to similar conclusions as you. Oh, and you forgot about one unit, Gavins - 5430 satoshis Thanks for this. I am not a developer and I don't think I'd have much to offer by bringing out another wallet client. I wanted to see if we could form a consensus across all vendors and software clients so that people have a similar experience regardless of whose wallet they are using. It would be standard. I will try and throw up a web page that explains the different units in lay terms. And gives the current price in the preferred decimal of the user's choice. And perhaps it would be helpful to display the price of a coffee or a pint of milk in mBTC for reference. |
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This would be useful, but any intelligent person can handle decimals.
 Have you been to an average supermarket yet? Indeed. And it's not just a matter of intelligence (assuming we can agree on a definition) it's also a visual issue. Sometimes it's easy to miscount the leading zeros which means people go to extra effort to have to count. This can lead to people overpaying for something like a coffee by a factor of 10. This leads to anxiety at the moment of purchase. I am basing this on some informal usability testing I have done with friends and family. |
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I think the price of Bitcoin puts off a lot of regular people because psychologically people think in round numbers. The first experience a lay person has with Bitcoin is that they want a whole Bitcoin then they look at the price askance. Also dealing with all those decimal places is enough to do anyone's head in.
So we need to come up with distinctive coin designs for each major shift in the decimal place, namely:
Decibitcoins - 0.1
Centibitoins - 0.01
Millibitoins - 0.001
Microbitcoins - 0.000001
Satoshis - 0.00000001
A bit like Nickles, Dimes and 50 pence pieces. I propose a standard across all Bitcoin vendors platforms that they give the user the option of which decimal to operate in. So that if one chooses they can buy Bitcoin by the Millibitoin.
Nothing has to change on the backend, it's just a user interface issue. Does anyone know of project like this? Any challenges or suggestions?
Thank-you kindly.
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Howdy! Just joined too, can't wait to start coding some bitcoin tools and whatnot! Cool. What do you want to build? |
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I mine FTC when I can. I am part of the community and just want to contribute what I can. I don't do it to make money, just have an old computer that I leave running at the office.
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It was because of this fake email which was distributed on Saturday night, and then the usual noobs started panic selling. And I publicly accuse the "fontas" moron of doing this. He "predicted" a crash on June 8/9, and spread the scam email to make sure it would happen so he could recoup the losses from his previous failed pumps and dumps. I won't reply to anyone about this, I've said enough on the BTC-e chat box already. It's because of scum like this guy that Bitcoin's price is so unstable and the end result is that more "serious" people who would be welcome to join Bitcoin avoid doing it. BTW, notice the pathetic invalid IPv4 address on the email, with one of the 4 numbers being 523...  This is interesting and would certainly have all the hall marks of Fontas MO. He tends to leave hidden messages for those smart enough to find them in his communications. |
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Someone else asked this. I have been following a guy on Twitter called @SirBitsALot and commented on it here: https://bitcointalk.org/index.php?topic=229979.msg2419960#msg2419960He thinks it is price manipulation, someone dumping coins shaking weak hands out of their positions and then buying back lower. If true this would mean he must be quite bullish. |
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Hello,
Sorry to ask a question regarding feathercoin. But would really appreciate some help.
I have 4x 7950's, and mining at a hashrate of 2400 khash.
Now all calculators say I should get 100 FTC per day, but when I mined on wemineftc.com for 6 hours I got 0.7FT(!), and now today it's a little better but I'm getting projected 3 FTC for 4 hours of mining.
This does not sound right to me at all, my hashrate is showing correctly at wemineftc.com too, something wrong at my part or is the payments just stalled or not showing correctly?
Thanks in advance!
Hey, wish I could be of more help but try the Feathercoin Mining forum http://forum.feathercoin.com/index.php?board=2.0 If you're not a member you need to post in the Newbie forum first:http://forum.feathercoin.com/index.php?board=7.0 |
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It's a pity that I need to use sepa transfers that take quite some time to be executed or I would buy right now !
Price is going slowly going back up, I hope the manipulator will not hit again.
If you check http://bitcoin.clarkmoody.com and select H4 and zoom out (scroll down) on the chart all the way you can see the 6/7 dumping pattern quite clearly. If this were just someone selling off their BTC this would be the worst way to do it, you would sell off gradually over time to get the best price. Ah, but thats not the point for them. Their goal isn't to get the most fiat out of the sell. What they do is drop the price by selling a large amount of bitcoins for fiat. However, they they buy them all back up at the lower price when everyone else freaks out. The market price slowly recovers and they can do it again. Yes this is what I meant. It's not someone selling off their BTC for cash, just trying to play the market and shake weak hands out of their BTC. They clearly have a bullish position in the market which I take as a strong signal  |
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It's a pity that I need to use sepa transfers that take quite some time to be executed or I would buy right now !
Price is going slowly going back up, I hope the manipulator will not hit again.
If you check http://bitcoin.clarkmoody.com and select H4 and zoom out (scroll down) on the chart all the way you can see the 6/7 dumping pattern quite clearly. If this were just someone selling off their BTC this would be the worst way to do it, you would sell off gradually over time to get the best price. |
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Hey, Sorry to hear about this. There is a guy on twitter @SirBitsALot who thinks that it is deliberate price manipulation, checkout his videos on the right https://twitter.com/SirBitsALotThe best way to defend against this kind of behaviour is to have more exchanges. All the worst things about Bitcoin come from the surrounding centralised components like Gox. The work that has to be done now is P2P and open source exchanges. Anyone have an challenges or thoughts? |
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