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1  Economy / Speculation / Re: It's only us on: February 23, 2015, 10:09:15 AM
The latest dump and consequent slow downward trend has made me realise that the last up trend was not caused by new comers - it was caused by us. If newcomers were having an impact on the price then we wouldn't have this down trend.

What happened is that some guy decided to dump and the bitcoiners stopped buying out of fear.

Let's face it we are on our own right now without newbie buyers. Any sort of mass adoption is 20 years away. It's time to stop looking at the graphs and dreaming of the moon every hour. The moon will come in the distant future when we are old.

Everyone who could be an early adopter is already one. The geeks and foresighted people have already joined. The laypersons will now not join until they have incentives. Thus there will be no more big bubbles in the near future. The rush of people who could have caused a bubble have come and gone. Now all we await is a small trickle of others to join us for the upcoming years. No more bubbles an time soon. Just a very slow and volatile grind upwards. Bubbles will happen with incentives and I see no incentive at all except a financial crisis that entails hyperinflation or banks repossessing money.

Add to this the new coins that are being mined all the time.
2  Economy / Speculation / Re: 45 on: January 21, 2015, 09:53:14 AM
Sounds about right.
3  Economy / Speculation / Re: NYSE invests in bitcoin ecosystem on: January 20, 2015, 08:40:36 PM

...

Come on now, you should know by now that when good stuff like this happens, its not bullish, but instead dumps start crashing the price.

Dont get me wrong , I love BTC , but Ill give it a week to see where we are at lol.

In many cases in the past it looked as if the insiders bought before the info got public - and then after the announcement had moved the price they dumped into the rally banking on the profit they made.
4  Economy / Service Discussion / Re: Insane: Bitfinex exchange owner admits using insider information to trade on: January 20, 2015, 01:45:36 PM
I would assume they all do that. At some point MtGox was earning bitcoins and they had such amounts of them that it would be completely crazy to trade them on other exchanges.
5  Bitcoin / Press / Re: [2015-01-20] 'Bitcoin Box' Can Process Payments With No Web Connection on: January 20, 2015, 09:06:57 AM
http://www.coindesk.com/bitcoin-box-can-process-payments-web-connection/

A prototype cryptocurrency point-of-sales (POS) terminal called Bitcoin Box can process transactions without the need for an Internet connection. Instead it relies on Near Field Communications (NFC) and Bluetooth to enable payments.

The device has been developed by Hive developer Jan Vornberger, who said the customer simply needs to touch their smartphone on the device and it completes the transaction via Bluetooth.

That's totally confusing - not a good sign for the bitcoin culture overall.
6  Economy / Speculation / Re: bids above asks in finex on: January 13, 2015, 10:30:06 AM
Looks like they have some matching bug. The highest bid is 243.7 and it looks like it cannot be filled, even though there are already asks at 239.2.

Why do these bugs always happen during crashes Smiley

I don't know - but it looks like this one actually stopped the crash (maybe temporarily - but this builds some divs that might result in a bounce back).

Heavy selling through it now..time to buy soon..

Yeah - this is because it is gone now.
7  Economy / Speculation / Re: bids above asks in finex on: January 13, 2015, 10:27:24 AM
Looks like they have some matching bug. The highest bid is 243.7 and it looks like it cannot be filled, even though there are already asks at 239.2.

Why do these bugs always happen during crashes Smiley

I don't know - but it looks like this one actually stopped the crash (maybe temporarily - but this builds some divs that might result in a bounce back).
8  Economy / Speculation / bids above asks in finex on: January 13, 2015, 10:24:31 AM
Looks like they have some matching bug. The highest bid is 243.7 and it looks like it cannot be filled, even though there are already asks at 239.2.
9  Economy / Speculation / Re: If you are waiting for the "despair phase" to buy like in 2011 consider this on: January 11, 2015, 09:22:47 AM
So novelty! Much insight!
10  Economy / Service Discussion / Re: Bitstamp will easily recover from this hack on: January 09, 2015, 12:43:26 PM
While ultimately I think they will recover just fine, Panterra's boss has made it known that he's distancing himself to BitStamp and I doubt Stamp will find it easy to get any more VC money. They obviously don't need it at this point especially if they come through and cover their customers' losses, if in fact they were actually losses and not a company loss.

He is still listed as a director there.
11  Economy / Speculation / Re: "Bitcoin exchange Bitstamp says to resume trading on Friday" on: January 09, 2015, 12:26:00 PM
A relief rally is de rigeur now. How far can it go? If it gets to squeezing the shorts - then it can go pretty high.
12  Economy / Speculation / Re: So, why did Bitstamp suspend fiat withdrawals? on: January 08, 2015, 10:24:55 AM
I am thinking about filing that statutory demand - but they even refuse to inform me about the exact balance of my account:

"Unfortunately, we are unable to check your account balance at the moment. This is because of the reasons, already stated in our previous response."

the previous response was:

"For the time being, you cannot withdraw bitcoins held in our wallet. This is because we have temporarily suspended our services in an attempt to make sure that all of our customers’ Bitcoin and personal information remain safe. We are working to restore our full services in the coming days, at which time you’ll be able to resume withdrawals, deposits, and other Bitstamp services."
13  Bitcoin / Press / Re: [2015-01-07] CryptoCoinsNews and GAW Miners Sitting in a Tree… K I S S I N G on: January 07, 2015, 03:06:08 PM
Technically they can integrate with Amazon and "introducing a simple way to use your cryptos to buy things on sites like Amazon" without partnering with Amazon.
14  Bitcoin / Development & Technical Discussion / Re: Cold storage and bad RNG on: January 06, 2015, 07:35:32 PM
If your key creation RNG is bad, of course you don't ever have to spend to lose your funds.
There are implementations out there getting the initial key creation wrong too, not just signing?

I don't quite understand what you mean here. You sign using the key - this is a deterministic operation, there is no RNG involved - the RNG is used to generate the key.

Signing leaks information about the key - so this can aid the attacker - but it is not the only way.
15  Bitcoin / Development & Technical Discussion / Cold storage and bad RNG on: January 05, 2015, 11:10:13 PM
I wonder if it is something widely known that if you have a bad RNG - then the attacker can empty your cold storage as easy as hot wallets. It is kind of obvious - but when listening to all these talk about 'coins secure in cold storage' I had the feeling that people don't realize this.
16  Economy / Speculation / Re: bitstamp 18,000 bitcoins stolen? on: January 05, 2015, 10:49:46 PM
If it was an RNG attack - then it could be used on their cold storage as well as on their hot wallet. If the attacker can predict the private keys - then the fact that these keys are stored on something detached from the internet does not make any difference.
17  Economy / Speculation / Re: What if Bitstamp was hacked - Speculation on: January 05, 2015, 04:41:02 PM
Either they will not be able to pay back and declare bankruptcy and we'll have a total crash as people lose confidence.

Or they will never admit that anything was stolen and after a small correction due to some people losing confidence anyway we'll be back the the same situation as before the crash - i.e. still in the down trend.
18  Economy / Speculation / Re: I am finally buying on: December 30, 2014, 08:58:01 PM
It does not matter where. as long it is under red line BUY!

Of course it matters, the reason I ask is because I can sell Bitcoin for $318 dollars, so if I can buy it at $260, I would make tons of money

Sure dude!
But if you could buy at $200 you could make even more money - why don't you ask about that? I guess I know - you thought that the chart was about dollar price - but surprise the header on that chart says 'EUR' Smiley
19  Economy / Speculation / Re: Let's face it...most of you bears are just bitter over losing money.. on: December 15, 2014, 07:22:03 PM
It is currently the bulls that lose money.

Bulls are allowed to short too you know  Wink

Defining a bull as someone who never sells is as extreme as defining a bear as someone who never buys.

Bull and bear are temporal definitions - if someone is not interested in a market he is not a bear - but an outside observer. Bear is someone who currently is not holding the asset (or is shorting it) - but plans to buy it later. Bulls that hold shorts are just stupid (I guess there could be a legitimate scenario where someone was betting on volatility and holding both the asset and shorts on it - but it does not make sense in our setup).

You can be bearish short to midterm but still bullish longterm. Its not mutually exckusive and can be incredible profitable Smiley
But in this case you don't hold the asset now - because you can buy it later for less (which means you are not a bull now).
20  Economy / Speculation / Re: Let's face it...most of you bears are just bitter over losing money.. on: December 15, 2014, 01:03:10 PM
It is currently the bulls that lose money.

Bulls are allowed to short too you know  Wink

Defining a bull as someone who never sells is as extreme as defining a bear as someone who never buys.

Bull and bear are temporal definitions - if someone is not interested in a market he is not a bear - but an outside observer. Bear is someone who currently is not holding the asset (or is shorting it) - but plans to buy it later. Bulls that hold shorts are just stupid (I guess there could be a legitimate scenario where someone was betting on volatility and holding both the asset and shorts on it - but it does not make sense in our setup).
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