I get the feeling that Bitstamp is much less manipulated than Gox. In particular considering that crazy movement with quick book correction there after early today. This doesn't look good and hasn't for days. So, the movement earlier today is all the more suspicious. Anything more regarding that?  |
|
|
|
Well, if you are going to get into BTC you will probably start to question what money is and what role it has had in our society and WARS. I was listening to an incredible podcast today from The Peace Revolution. Just brilliantly researched, quoted, cited (primary sources) and put together. They have others on Money and Banking as well. Strongly recommended. http://peacerevolution.podomatic.com/entry/2010-12-02T11_29_08-08_00People are waking up and just getting into BTC is assisting many people to dig deeper into things... |
|
|
|
Just wondering if it is possible to remotely hack a 2013 Mercedes C250 instrument system and set throttle to full? Or would a separate remote control device need planting on the vehicle to effect such an outcome? Sorry. Lost the quote codes... http://autos.yahoo.com/mercedes-benz/c-class/2013/c250-coupe/features.htmlIt looks like there is electrical assistance for steering, throttle, and brake controls. Whether these can override operator inputs to the point of causing a lethal accident is an open question. A hack versus an external device is also an open question. There certainly is a capability to remotely operate subsystems. I'm thinking I will be sticking with older model, manual vehicles. Yes, it appears so... (piece of article) From the International Business Times: http://www.ibtimes.com/michael-hastings-car-hacking-theory-latest-attempt-explain-suspicious-death-richard-clarke-saysHastings’ car may have been hacked. Richard Clarke, the former chief counter-terrorism adviser on the National Security Council, believes that Hasting’s death may have been the result of a cyberattack on his car. ... In an interview with the Huffington Post, Clarke said that given current knowledge about hacking cars, the fatal, single car crash involving Hastings’ 2013 Mercedes C250 coupe, was “consistent with a car cyberattack.”
Clarke said that not only does the technology to hack cars exist, but “there is reason to believe that intelligence agencies for major powers,” like the United States, are already equipped to stage such an attack.
"What has been revealed as a result of some research at universities is that it's relatively easy to hack your way into the control system of a car, and to do such things as cause acceleration when the driver doesn't want acceleration, to throw on the brakes when the driver doesn't want the brakes on, to launch an air bag," Clarke said. "You can do some really highly destructive things now, through hacking a car, and it's not that hard."
"So if there were a cyberattack on the car -- and I'm not saying there was, I think whoever did it would probably get away with it,” he added.
Clarke’s comments likely referenced a 2011 study completed by computer scientists from the University of California, San Diego and the University of Washington, which found that it was possible for hackers to remotely gain access to a person’s vehicle, and potentially assume control of some the basic functions. In an article on the study, The New York Times reported that embedded cellular connections used in vehicles manufactured by GM, Toyota, Lexus, Ford, BMW and Mercedes Benz were all capable of being remotely undermined by hackers.
“These cellular channels offer many advantages for attackers,” the report said. “They can be accessed over arbitrary distance (due to the wide coverage of cellular data infrastructure) in a largely anonymous fashion, typically have relatively high bandwidth, are two-way channels (supporting interactive control and data exfiltration) and are individually addressable.” ... |
|
|
|
I'm curious, can anyone help interpret the following?: [minepeon@minepeon ~]$ systemctl status cgminer.service
cgminer.service - cgminer
Loaded: loaded (/usr/lib/systemd/system/cgminer.service; enabled)
Active: active (running) since Tue 2013-06-25 15:11:42 BST; 5s ago
Process: 2582 ExecStop=/usr/bin/screen -S cgminer -X quit (code=exited, status=1/FAILURE)
Process: 2584 ExecStart=/usr/bin/screen -dmS cgminer /opt/minepeon/bin/cgminer --api-listen --api-allow W:127.0.0.1 --sharelog /opt/minepeon/log/share.log -c /opt/minepeon/etc/miner.conf (code=exited, status=0/SUCCESS)
Main PID: 2585 (screen)
CGroup: name=systemd:/system/cgminer.service
├─2585 /usr/bin/SCREEN -dmS cgminer /opt/minepeon/bin/cgminer --ap...
└─2586 /opt/minepeon/bin/cgminer --api-listen --api-allow W:127.0....
Is the failure just a normal part (perhaps some rejected work or the like)? Overall, things seem humming along with my erupter, until my Jalapeno arrives. IAS |
|
|
|
I'd hardly call Inflation robbing the masses, but QE meanwhile is robbing the masses.
 Well, first let me say both are robbing the masses. But, QE is not inflation at the same level of typical inflation, as the money is mostly just seeing the upper reaches of society. (e.g - Via QE, the banks are investing in bonds, the stock market, etc and most of society is not seeing that money.) I believe this can be verified with the velocity of money. I still think QE causes some inflation, but not as much as I once thought (after reading about it). Anyone jump in here as I'm going by what I've heard recently. And it's still a recipe for disaster. |
|
|
|
The spike at mtgox is really artificial as people flee this exchange with their bitcoins stuffed into their wallets...
Just look at the bitstamp order book where you see the opposite ...
Everyone is trying to sell
Yes, the Bitstamp order book is a "failsafe" of sort regarding the current state of BTC. Most of us here are bullish on BTC, just not short to mid term. I don't understand, are you talking about the early morning spike? I can see that some sold their coins, but what about the huge buy that cause the price spike and slippage this morning? This happened a week or two ago when the price dropped below 100 as well. Same thing, bad business decision regarding the slippage (and the hour was odd, China?). I really wonder if someone is desperate to keep the price above 100, as once it spends time below that, a new psychology develops (if you know what I mean)... Not a picture of health from the 2nd largest exchange...  |
|
|
|
This is one heavy piece of information. holy crap indeed. It smells funny though because they were even willing to give a reason... who would've thought that? This Citibank plutocrats are defending their business, they are starting to be afraid of Bitcoin. Cool. The ones thinking that the bankers would let Bitcoin alone are foolish. Bitcoin is a natural born enemy of the traditional financial system. In the long run, only one can survive. Let the games begin. Yeah, what would be better than a big war where every bank stops dealing with Bitcoin and makes it near impossible to get money in and out of the exchanges. Can't wait for that. Seriously, you don't understand what you're wishing for. Get out of fantasy land man. The governments and banks could destroy Bitcoin for breakfast if they wanted to. Banks shutting down anything Bitcoin isn't good news. Really, it isn't. If only one can survive, it won't be Bitcoin. Anyone living in reality can see that. This is Napster's closure inviting Bit-Torrent all over again. This is just fueling more innovation with decentralized exchanges, physical exchange meeting points, etc. They might very well crash the price of BTC in the short term with these types of announcements, but in the longer term they are helping us to create an infrastructure we desperately need. Then they will probably make it illegal, but if the existing banking system continues it's tumble, they will probably fail miserably in that endeavor. |
|
|
|
Looks like things just turned. I say 4 days of red candles ahead.
price drops a few $, prophets immediately predict long term drops price rises a few $, prophets immediately predict long term raises bitcoin never changes You were saying? |
|
|
|
Wow, down she goes. Volume not high at 21k, but mostly sells.
yep, bitcoin foundation news make the rounds in the US. time for test of double digits until this evening I don't get it, the bitcoin foundation is a non profit organization , not a money handler. The government has really been failing us it seems. Just too indiscriminate with their laws. Not to go off topic, but for perspective: Wachovia bank launders hundreds of millions of dollars - Nothing happens but a fine. HSBC - drug launders 8 Billion dollars - 2 billion in fines. Snowden blows the whistle on government (not like Bradley Manning, Snowden was careful of the material) - Manhunt, focus on Snowden and not much of what he said. From speaking with people and reading online, we are just getting sick of it. Time for a change... Yes we can?  |
|
|
|
tried to mine some bitcoins again, but connection got refused, just me or is it for more people?
Me too, noticed a few minutes ago my erupter light was "stuck" on and normally it's off. When I log into the slush server I see my connection was lost 2 hours 45 minutes ago. sudo screen -x [2013-06-24 13:33:04] No devices detected! [2013-06-24 13:33:04] Waiting for USB hotplug devices or press q to quit [2013-06-24 13:33:04] Probing for an alive pool [2013-06-24 13:33:06] Pool 0 slow/down or URL or credentials invalid [2013-06-24 13:34:04] No servers were found that could be used to get work from . [2013-06-24 13:34:04] Please check the details from the list below of the serve rs you have input [2013-06-24 13:34:04] Most likely you have input the wrong URL, forgotten to ad d a port, or have not set up workers [2013-06-24 13:34:04] Pool: 0 URL: http://stratum.bitcoin.cz:3333 I know the eruptor works as I just checked on another computer and was able to mine to Bitminter. |
|
|
|
1.The Cease & Desist
"f found guilty, the conference organiser for Bitcoin, the decentralised digital currency, could face fines of $1,000 - $2,500 (£650 - £1,600) per violation, or per day if violations are less frequent, plus criminal prosecution which could result in five years in prison and a fine of up to $250,000."
How do you prove they are a money transmitter?
Hope they don't keep Avalons in their office.
2.The news comes just days after Gox, suspended users from withdrawing their Bitcoins as US dollars for two weeks.
I see a coordinated attack. Though, they seem to have the wrong target in the case of the foundaton.
Note that that is from May 30th so it isn't a coordinated attack, but I wonder why the foundation might not have mentioned it sooner? |
|
|
|
I think since the cash out problems at Mt Gox Bitstamp immediately anticipated Gox coins coming over again to cash out and so the price went back to the latest strong support level there. I think all the movement we're seeing now is uncertainty because of these problems, the price will probably hover between 98-110 with very low volume until the two week period is over. Then depending on how the issue is resolved we'll either see a sell off to test support at 90 or we're going back to test the 115 high.
We've gone down from roughly $130 since the beginning of this month. To say that the recent down trend is just about the Gox issue is ignoring a larger picture. I don't deny that Gox's slip up contributed to the recent down move, but it isn't really a big deal though it adds uncertainty to the already uncertain picture. Perhaps the recent down trend and the Gox thing cumulatively are responsible, but I'd say the larger of the two is the $30 down movement. If we break and stay below $100, I think it will be clear that this is a part of the post bubble adjustment. IAS I never said that the downtrend that brought us down from 130 and formed a higher low at 88 was caused by this particular Gox issue. I however don't believe in the entire bubble deflation BS going on around here, although it could become a self-fulfilling prophecy if the issues at Gox are not resolved with a positive outcome. If Gox would have had no problems with USD withdrawals and services like Dwolla would still work we would not be sitting around 100-110 right now, I am pretty sure of that. I didn't say you did. I'm just talking about the recent 3 day down trend that started with the Gox news. It is a valide perspective about the bubble. I'm a strong bull and don't see it as BS. I didn't like it, but I have to accept that it is starting to look like it from a TA perspective. If I am wrong I will lose a bit of $$$ getting back in but that is the cost. I wasn't even a speculator (I had a BTC paper wallet only, no trading) and just got out after $130 didn't hold. I don't doubt we would be sitting near 110. (We are still above 100 so all is not lost). |
|
|
|
I think since the cash out problems at Mt Gox Bitstamp immediately anticipated Gox coins coming over again to cash out and so the price went back to the latest strong support level there. I think all the movement we're seeing now is uncertainty because of these problems, the price will probably hover between 98-110 with very low volume until the two week period is over. Then depending on how the issue is resolved we'll either see a sell off to test support at 90 or we're going back to test the 115 high.
We've gone down from roughly $130 since the beginning of this month. To say that the recent down trend is just about the Gox issue is ignoring a larger picture. I don't deny that Gox's slip up contributed to the recent down move, but it isn't really a big deal though it adds uncertainty to the already uncertain picture. Perhaps the recent down trend and the Gox thing cumulatively are responsible, but I'd say the larger of the two is the $30 down movement. If we break and stay below $100, I think it will be clear that this is a part of the post bubble adjustment. IAS |
|
|
|
voodah and f73,
Yes, there is support at 100. All support has a huge psychological component but 100 is a bit key (3 digits vs 2).
Looking at how things have been lately, I just don't see it holding mid term. I have the feeling that we are in a short - mid
term bear market (really a correction from the huge up move we made but it will take time to work itself out.)
Anything can happen though - some banks collapsing, another war, stock market collapse, etc. and BTC goes on the run again.
But from a technical perspective, it is down we go imo.
Yup, it looks bleaker every day. I agree. I should note, like most around here, I am a HUGE BTC Bull. But I can't say the recent trend is bullish. I even got out of my LTC position this morning as it hit my mental stop and after having more thoughts on where BTC is going and the two being too tied together, it just didn't make sense to hold LTC. Depending on world events (and that is a huge IF), I say we are in a downward sideways channel through Summer and partly into fall or there abouts. |
|
|
|
|
voodah and f73,
Yes, there is support at 100. All support has a huge psychological component but 100 is a bit key (3 digits vs 2).
Looking at how things have been lately, I just don't see it holding mid term. I have the feeling that we are in a short - mid
term bear market (really a correction from the huge up move we made but it will take time to work itself out.)
Anything can happen though - some banks collapsing, another war, stock market collapse, etc. and BTC goes on the run again.
But from a technical perspective, it is down we go imo.
|
|
|
|
|
Interesting, there is support at 100. You can see the spread between Gox and Bitstamp narrowing. Bitstamp doesn't want to go much below 100.
I have a feeling once we go below 100, it opens up a large drop potentially. It will be our third test in the last 3 weeks.
Next support seems to be in the low 90's, then $82 ish, then $68, then $60, $50, $20s (according to me ;-)
|
|
|
|
to what ? scrypt ?  LTC already use that tech If for some reason that's what needed, sure, why not? I don't think the Sha256 ASICs can be modified for Scrypt. They hold enough hashing power to ensure SHA 256 remains. Scrypt would be a hard fork which the ASIC users wont adopt. Most users will protect their investment at any cost. That's the point. If the proof of work algorithm were to change, the SHA256 ASICs wouldn't hold any power. This would be a hard fork, probably with temporarily two competing blockchain version. But if the Bitcoin's survival depend on it, everyone with a vested interest will just switch to another proof of work algorithm (Even if some miners don't like it.) Furthermore, we would have a bunch of Litecoin miners that would gladly use their processing power to mine bitcoins. Marvellous, isn't it?  If by marvelous you mean blocks that take 100 times longer to complete until difficulty adjusts back to GPU level . . . Which would take maybe 6 years, if we hit 2 Ph/s in in the next few months, which I bet we do. Also, in a competition, how would GPU's ever out compete ASICS? Do you guys even know how Bitcoin works?  Ok, imagine that everyone is using gold as money. There is a great overlord who owns most of the gold mines on earth. Most think his power is almost absolute. Now everyone, for whatever reason, decide to switch to using silver instead of gold. All the gold currently in the people's hands immediately turns into silver, but not what's still underground. All those able to mine silver are quite happy to mine for something that is so valuable. What is the power of the gold overlord? Nothing. He had power only as long as people were using gold. Back to Bitcoin. What is the power of SHA256 ASICs if the proof of work changes? Zit, nada, nothing! They can't prevent a change in the proof of work. In a hard fork, that's really not a problem to adjust the difficulty level to account for the now missing ASICs. You seem to think that Bitcoin is now as it will always be. Bitcoin has changed and will continue to do so in order to improve itself. If a 2 min per block time is really needed, then Bitcoin can be changed for that. Most of the alt-coins advocates don't seem to realize that for everyone invested in Bitcoin, it's in their own interest to improve it if needed. Bitcoin could even end up as an identical copy of Litecoin if that was needed. What would the advantage versus just moving to Litecoin? Every bitcoiner could keep his "wealth" already in the blockchain. Merchants can keep using the same software. And every blockchain uses are still valid (such as proof of existence). OK now you don't make any sense, but I have no energy to discuss this any further, we will see how things will turn out .  Here, the basic premise is this: BTC is not locked in to any cryptographic (or other) standard. It is open source decided upon by the community. If Scrypt is the way to go, then we will use Scrypt. Miners wouldn't like that but if it meant survival then all they lose is the hardware, NOT their bitcoins. (I'm sure they would prefer losing rigs rather than rigs AND coins.) But that is an extreme scenario, doing smaller things like changing confirmation times and such, would be done if it benefits us. We are in the early stages, seeing what is best and as we learn more we will just change the code accordingly. I think it is good to have LTC around, just in case. But BTC can adapt to be most anything we need it to be. IAS |
|
|
|
Beautiful news. If we could just get Assange out of the UK as well. Looking Forward to a weekly Snowden internet based TV show... Russia Today, the Kremlin's hilarious propaganda channel offered Assange his own show at one time, probably will offer Snowden a weekly show to punch the US gov in the nuts repeatedly though I don't think he's staying in Russia. Seems like his plan is to go to Cuba and then apply for safe haven in Ecuador like Assange is doing. Equador it is: http://rt.com/news/ecuador-asylum-request-snowden-135/Of note, RT is the propaganda outlet for Russia. But each country is the same - CNN, FOX, etc. do likewise for the US. Max Keisser went into this and made some good points in a past episode. |
|
|
|
Litecoin's alltime high versus Bitcoin of 0.0449 translates into a valuation of 17.96% of BTC market cap, equating Bitcoin's and Litecoin's eventual 21 million and 84 million supplies. To reach this high again and maintain it, the market would have to believe that Litecoin will surpass/replace Bitcoin, because even if you grant Litecoin the function of a "backup" or "silver" complement, its valuation would be far lower. Do you really want to place your bets on that? It's simple, all the scamcoins burn out in an eventual peak that they will never again surpass. They are actual bubbles. Bring it, though. Pump and dump it HARD. The other scamcoins are already standing in line, they too want a piece of the action: https://support.mtgox.com/forums/20514198-Featured-RequestsSeems Blightcoins are valued at 11.64% of Bitcoin right now. Good luck to anyone holding that bag once the hype subsides. Petty much agree, bought LTC at roughly 0.0025 and planning to dump 90% of my remaining holdings at aprox. 0.03 or higher, which I guess will happen after Gox announces official ETA. Already cashed out a big chunk between 0.019 and 0.025, as I said earlier I will just keep a few hundreds of LTC to dump them on Gox regardless of the price, only for the lulz honestly as I expect the best time to dump will be shortly before LTC hits Gox. Why before it hits Gox? Because normally all the pump&dump scam coins raise before they hit the exchanges, to fall hard as soon as they hit it. I guess everybody buys on the news this or that scam coin will hit an exchange (normally BTC-e), and then everybody immediately dumps it, as all the "investors" are only after the quick buck... It *may* be different for LTC and Gox, as this exchange has a huge user base that might never use the their exchanges where LTC is traded, and LTC community is orders of magnitude bigger compared to the other coins, but I'm not going to take that risk with the majority of my holdings... Just with a tiny fraction that I will hold for the lulz. I'm assuming people will buy like crazy when there will be an official ETA to Gox, and in my book that's the best time to sell, when everybody is buying enthusiastically and bullishly. Yeah that makes sense. Although many people won't be buying before it hits Gox. So as soon as it hits it my guess is there will be panic buying that will double the price. We'll see. Rampion may be correct to sell shortly before LTC hits Gox (sell on the news). But, there are going to be a lot of people who will want LTC that don't currently have them. S3052 may very well be right in that the price will jump to $4-$6 per LTC. I picked up some today (even though I was initially against it), it is a gamble as I think BTC is going down from here, but hopefully LTC goes up enough to overcome that. |
|
|
|
|
Show Posts
