I will leave this place soon. Bitcoin is dead, it's only down from here and i sold everything i got quite a while ago so there is nothing for me here anymore.
I tried to help the few delusional bulls who just won't give up but they don't appreciate my warnings very much. Ah well, your money. I don't care really.
I'll come back every 50 dollar drop for some entertainment. So long and thanks for buying my coins at 400. Poor schmucks.
Good luck with your pump and dump coin.
I feel sorry for all the idiots who sold at these ridiculous prices and i will laugh at all the bears who will get caught in trap after trap the coming weeks.
The only winners are the holders (like me) and the people who pick up the last cheap coins while they can.
We're going up and it's confirmed!
None at the moment. Not sure if i will buy back again. I invest in other things now.
Now THAT'S how you quote someone on the ignore list!  |
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Any ASIC tech-savvy people know if this slowing of ASIC advances to an asymptote is likely outcome any time soon?
I've mined bitcoin since CPU was the only way, and mined via GPU the first day it was possible, and partook in FPGA designs and finally have maintained relationships with the major ASIC producers of today. Currently 14nm designs are being prototyped and will be released within the next two years. Things are certainly reaching a plateau. Thanks for the info. It puts my mind at ease to know that ultimately, ASIC mining might go full circle back to a practicable 'one processor, one vote' again. Kevin Dowd was well spoken, but apparently missing out this important decentralisation saving factor was a glaring oversight on his part. |
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yeah, the self preservation 51% avoidance principle works well in theory, but not so well if someone like a government is trying to damage Bitcoin. In such a scenario, the fewer mining operations, the easier it would be to take over, coerce, attack a majority of the network. Thus the network is currently theoretically less secure than it used to be, and will be less secure as it becomes increasingly 'centralised' by operations who have the means to get their hands on the latest bleeding edge ASIC tech ahead of everyone else.
I guess what I'm wondering is whether the proneness to mining centralisation that we're currently experiencing might be a rather a short/medium term issue, lasting only until ASIC production reaches the same technological limits as for current IC production, whereby the latest ASICs wouldn't become obsolete quite as quickly as they do currently, thus making small-scale (so more decentralised) mining more viable for longer periods.
Any ASIC tech-savvy people know if this slowing of ASIC advances to an asymptote is likely outcome any time soon?
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http://www.cato.org/multimedia/daily-podcast/unfortunate-future-bitcoin"bitcoin will crash to zero, get out now! Yes, I am disappointed too." tl;dr "bitcoin will be worthless, because the mining will become centralised" Quite a chilling speech by Kevin Dowd there. It's based on the assumption that mining will definitely end up becoming a centralised monopoly. I'm fairly naive to the technical prospects of ASICs, but I was under the impression that ASICs development stands to reach a relative ceiling as it catches up with Moore's law, and that at this stage the advances in ASIC chip efficiency would slow down, matching Moores law as with other established processors. With the likes of Samsung then mass-producing mining chips for broad distribution, I would imagine that small-scale miners (especially solar powered ones) would become more accessible such that everyone could mine at the same rates. This would then re-decentralise the network again. Am I wrong?
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Will my order at 367 get filled?
Nope most likely. It's only Saturday evening GMT. The 'weekend dip' factor has only just started |
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the 15min chart looks way too much like the last two bubbles. Loving this fractal shit
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BFX swaps are turning around again OCT 7: $18m USD || 10k BTC OCT 10: $21m USD || 15k BTC OCT 14: $22m USD || 11k BTC I have suggested watching the hash rate to find the bottom. Why? Well, if miners start taking machines offline, it affects supply by reducing the coins mined to the normal 3600 daily or less. But more importantly, it indicates the lowest price that miners must sell at to make a profit (of course every miner will have a slightly different level). Any lower and miners must hold and hope for a price increase. To sell would guarantee that they couldn't pay the monthly bills. That behavior could dramatically affect supply. It looks like we are at the point: https://blockchain.info/charts/hash-ratehttps://blockchain.info/charts/difficultyThis isn't a statistical artifact due to a bad luck streak? Not gonna calculate it, but I'm going to guess its somewhere around 99% certainty that this isnt just random chance. there was a similar very small difficulty increase in July, when the bitcoin price was relatively high |
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@Shroomskit
you really should do something else...you'll get a heartattack before you finish high school
hahaa! |
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What the fuck was THAT? Did my eyes deceive, or did somebody just dump 1000 or so to keep us under the important psychological $400 barrier?
Sorry, but you would have to be DAFT or manipulative to do that.
Yes. The usual asshats who do everything they can to stop us from going up. Surprised? I probably shouldn't be surprised, but admittedly I am a little shocked that anybody would jump in front of this train at this time. Maybe at $420 or $430, but trying to cock block $400 is just pure psychological warfare. Or maybe it's the best place to do a large sell for minimum slippage |
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I'd be happier if the speculation nutters don't get too carried away with this one. I'd rather it go sideways for a couple more months while the mass adoption rolls out
Don't worry, unless you see it suddenly break 350 with rising and heavy volume, the price is not going anywhere. In that case you'll have weeks of sideways and plenty of time. I think so too. I'd like to see some slow down in the Rate we get bubbles honey badger don't care, man. Honey badger's 'masters' do, though. Or at least I thought they did. Honey badger's masters now need the new Joe Public to buy like crazy. But they destroyed market confidence by excessive shorting for almost a solid year straight, so now Joe Public is scared as hell to touch bitcoin. A new ATH is probably at least 24 months away. I would LOVE to be proven wrong, would love it. But people are really disregarding bad market sentiment now. As if it will just magically go away in a few months. the public reluctance you speak of is why we need sideways-ish for a while. Don't want them to see it as a purely speculative commodity, thus not get involved if they think they've missed the CCMF train |
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I'd be happier if the speculation nutters don't get too carried away with this one. I'd rather it go sideways for a couple more months while the mass adoption rolls out
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mass adoption. that is all.
patience, the infrastructure is increasingly capable to cater for it
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This here makes sense to me: more interesting is the coinbase lack of coins - this possibly tells us the miners who they buy from are now close to or below cost of production and are no longer selling OTC, forcing coinbase back to exchange and needing to move fiat back to bitstamp or others. This is more indicative of a floor than any large wall on stamp.
Don't expect a stellar rise though - once the price rises enough the miners will be back to dump their coins.
So sideways-ish for the next 2 months or so |
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Relentless buying... who ARE these people?
People that realize this is a good deal. i wonder what chinese will think when they wake up ? wow such volume and price ? buy or sell ? allot of them sold a long time ago, so buy I'd reckon |
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I think the market is just catching up to the fact that the excruciatingly turtle like blockchain just ain't going to cut it when scaled..hence all the 2.0 coins are the winners here
what '2.0' coins do you refer to? Any charts of their value rocketing? |
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did anyone else see that infinity sized sell wall on bitstamp? I saw is on bitcoinity - couldn't find the top zooming out, then it was pulled/disapeared
No. Nobody. I did actually, but i'm guessing it was a bitcoinity glitch. No, it's real unbelievable 30k! |
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did anyone else see that infinity sized sell wall on bitstamp? I saw is on bitcoinity - couldn't find the top zooming out, then it was pulled/disapeared
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I can see a nice bounce potentially happening here, but don't see any reason why we'd then suddenly be in a bull market. Can anyone give a convincing argument to suggest otherwise?
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everything is going to be fine we'll have cheap coins for years to come after all this.  I reckon that's the idea. Manipulators trying for a longer period of 'stability' by doing this? |
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