That is pretty crazy to think, but easily verifiable by just bringing it up in conversation. I'm a teacher so get to talk with people and often new people, on a fairly regular basis. I also work at IT companies primarily. Honestly, most people have never heard of it. Some IT guys have and of all of them, none had any. I changed all that    At least a few bought a little. I bring up the price every so often. Same answer most of the time - Too expensive. They can't understand a fraction of a BTC at this point is more valuable than buying stocks.

Regarding Buffet, like I said, he will buy when he is "forced" to buy. He is a part of an OLD paradigm. He will not break his method without kicking and screaming. At some point in time though, he will probably see it as successful and want in. At the same time, he is probably on the side of those who want it taken down.

IAS

All of these posts and no one calls out the OP on a misleading title?

OP - nice to want people to check out your thread but your title is totally misleading. Just ask the question and don't make the statement.

Regarding your intended point, Buffet and people like him are a part of the problem. He will buy BTC when he sees the wealth consiscation affecting him.

IAS

Well, sad news but such is this game. Thanks for letting us know. Regarding that company:

I'd love the email address and company's name you are dealing with in China when the boards have left their hands. They should liable for lying like that to you (us) Barntech (and I realize next to nothing can be done to them except with our wallets). They basically cost us 30% or so and cummulatively (due to difficulty rise) from their incompetance.

Again, when the boards have shipped, there should be an open post somewhere here with the companies name, people there involved, desc. Of problem, etc. That may help others out.

And no one should use them again. They should be blacklisted on this forum so they don't F others.

Bitcoin is disruptive, let's follow in that tradition, openly.

Here's hoping,
IAS

Not a bad call, halfway there. 

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.

Exactly, same with anything BFL touches.
IAS

I wonder, can we trade an entity like BTC, like a stock? Maybe we "could" till a few months ago but going forward (until more data is collected) can't...   The "known" is now "unkown".

What I mean is, BTC is something essentially never before seen. It is a: Stock (in "owning" a piece of the network, in a sense), protocol, asset, payments system, commodity, etc. Maybe it will run to 1000 and break all the rules because it isn't like anything before it. And we are seeing that now.

And, we now have what appears to be the silent approval of two governments in China and Russia who don't exactly value the USD as the world currency.

I don't think we can put the BTC in a box as a "stock" is all, at least not yet.

Just a thought...

Learning your candle skills as usual Lucano...

BTC Days Destroyed would show the movement of coins moving to the exchanges. https://blockchain.info/charts/bitcoin-days-destroyed-min-week
As you can see, there is nothing right now going on. The huge bump a few weeks ago was the FBI's movement of the confiscated coins. (Note the April crash)
So, we don't appear to be in any sudden danger, though there are lots of coins on exchanges I would think (Gox has a lot). Perhaps big sellers won't tip us off - will flip things quickly.
Very important statistic to keep an eye on though Tzupy.



Nice job as usual Lucano. It sure does seem like we are do for a correction. But many have been saying that since 200. But still a fair point and we might see 250 again, or even lower. Tough one to call. BTW - Microsoft rose 61,000% from its IPO to it’s peak. Now, MSFT is an exceptional company (profit wise) and BTC is also something revolutionary, disruptive, etc. and at a time of financial instability and further talks from the ECB of 10% EU haircuts. All I'm saying is, anything is possible. And I get the feeling, BTC might be an all or nothing thing. And it might move quicker than one can imagine (up or down). GREAT news and we could be at $1000 in a day (e.g. - Ebay accepting it, or the like) or it might go to $20 (E.g. - America and the EU make it illegal for spending, etc.) I say it is the former. Welcome our Anti-fragile disruptive black swan. 

Thanks again for all the replies. I tested it out - simple, nice, effective!

I guess the best thing (as you never want to lose the password), is to make it something you absolutely won't forget. Even something simple takes a lot of time in Scrypt to hack (as long as you know your wallet was compromised you will have time.)

Or, absolutely put it in a few key places, and back it up also.  I mean, you need the password and the BIP38 Private Key, so it is a sort of 2FA.

Any ideas?

IAS

Thanks for the BIP38 integration. It feels a lot more secure having a password to get to the wallet, though I realize passwords can be forgotten.

? - Is there a walk through available on importing it into the wallet? (E.g. - How do we "cash in" (import) using the BitcoinQT client? I imagine we need the private key format to do the import.) I will play with a fraction of a BTC of course before utilizing the new wallets.

Any recommended BIP38 links would be appreciated.

Thanks,
IAS

Nothing short of amazing.

Can't withdraw coins. Can't withdraw money.
Can buy BTC's but not sell them.

LOL

Gox is amazing. I guess it is a hidden blessing as really, they are the basis for other exchanges popping up.

But, I wonder what is really happening with Gox. Let me count the ways:
- Still problematic to get money out (and in)
- I see complaints about getting coins out
- New DDOS protection and yet it still causes them problems
- New Trade engine and yet they still suffer lag
- They use Akamai. That should really silence DDOS attack (according to them)
- ETC.

What exactly is going on at Gox? Is it just problems with their banks and real hard core DDOS attacks?
Are they a fractional reserve exchange also? I mean why problems getting coins out.

Things just don't add up with Gox. I get the feeling we are watching a new version of the Wizard of OZ (in particular, the Wizard.)

And what about the price movement (up)?
I can see how volume isn't the end all. But China is often right up there with Gox price wise.

And I don't understand the "whatever your opinion" statement. I'm just asking about "fake" volume. Perhaps I missed an earlier remark.

Huh? Did you just create that statement or do you have something to back it up with?

Not sure it was a DDOS. Gox was doing upgrades I thought. They put that on their news site / blog (forget where but saw it).

And DDOS doesn'T really do much with BTC these days. Really, it just increasing and strengthening it's anti-fragile nature.

I did and am.   
Just checking in. I forgot the problem was not serving Germany as I hadn't been in the thread in a while.

Thanks for the update.
IAS

Only with my fingers, LOL.

Yeah, .25% 

I would love to see a base built and retracement made to pick up some more coins. (Would be very healthy going forward.)
Those of us who understand what BTC is, realize this is like selling Gold at $5 an ounce... You don't ask questions.

It is interesting we talk about there being 21 million. But that is in 2140 (I believe). Most of us are not going to be around then and I doubt money exists then the way it does now anyway.

My point really, is that we have an extremely deflationary currency (as demand more than outstrips the new coins) to such a degree, that for all purposes, we can just call this a deflationary currency period (even though it is growing). And BTC will probably grow by leaps and bounds unless a big nation or two attack it. And looking at the condition of banking right now, they better think twice about that.

And the ECB a week ago, lowered rates to America's suicidal level of 2.5% (from .5%). There is no going back. We are officially in Monopoly money territory. Are they so stupid? Evil? Or perhaps a combination of the two. It is just a matter of time now for the Dollar and Euro to have "Bail in" level problems. Which is interesting as the ECB was talking about a bail in of 10% for EU positive net worth people. Perfect timing ECB!

Take your last look at bankers still walking and breathing. (No threat made there, just a prediction). If they take 10% of the net worth from EU citizens, the Italians alone will hang them.  

Dargo - Ah, you are serving American customers now. I am an American living in Germany, with residency here.
Is it ok for me to trade now?

Thanks,
IAS