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phoenix1
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September 17, 2014, 09:00:47 PM |
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scary shit these bitcoins
Yeah, dunno what they cut them with, but it's trippy bitcoins are 100% bit. simply can't buy better shit anywhere.  |
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JayJuanGee
Legendary
 Offline
Activity: 3710
Merit: 10196
Self-Custody is a right. Say no to"Non-custodial"
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September 17, 2014, 09:01:06 PM |
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...
Err... Exchange price reflects ...BTC price on that particular exchange. It is not meant to be a general indicator of Bitcoin's welfare. It tells you how much you would have to pay for coin there.
Just like the prices on the side of an ice cream truck tell you how much you 'd have to pay for an ice cream cone from that truck.
Not how good ice cream is.
Not what a fair price for ice cream is.
Not how much you should expect to pay tomorrow.
Just what you have to pay there, now.
The exchanges are for-profit companies. They exist to make money. They don't have to be your teachers or even your friends. The only recourse you have, if you think an exchange is not doing what it should, is not use the exchange.
NotLambChops: From time to time, your writing has indicated that you have the potential to be a fairly smart person (or bot); however, your above comment seems to attempt to purposefully minimize the role of the exchanges... maybe in an attempt to suggest that manipulation is NOT a problem and/or that all is well in the bitcoin space b/c it is following the "free market." There are a lot of ways that people and/or bots (through people) can participate in the BTC market - and the activity and/or manipulations of exchanges can affect you, whether or NOT you directly participate on that exchange. Would anyone deny that GOX had an impact on BTC prices and/or reputation? Would anyone deny that the chinese exchanges influenced BTC prices and reputation in various ways? Maybe in the long run it all evens out, yet I get the sense that trajectories are established that change the course of history, and sometimes those trajectories go beyond some concept of an innocent "free market." For example, Exchanges set the price for BTC overall because over the counter trades will use exchange prices, and also as we know there is arbitrage taking place between exchanges... and if some exchanges do NOT have trading fees, that affects volume... and if some exchanges are trading BTC that they do NOT actually have in their possession ( a form of fractional reserve), then that also could have considerable affects on BTC prices and/or the utility and/or reputation of BTC. Lol, I'm not saying what an exchange should be, or denying that exchanges' behavior affects Bitcoin. I'm just explaining what an unregulated exchange IS--a for-profit operation that owes you nothing above what you can take from it. Which, without regulations, government intervention on your behalf, or a standing army of your own, is NOTHING. It could be that some form of regulation could be a solution to cause accountability or there could be some voluntary codes of ethics or there could be some criminal sanctions when companies engage in fraud or other potentially deviant activity that steals from the others (if that is what is happening). And, even if none of the above mechanism exists to keep them in check, there still could be mechanisms (even self imposed) that cause some businesses to follow greater ethics than others - for example they want to build credibility in order that people will put their money with them or they may be true believers in bitcoin and want to contribute to the bitcoin space. I maintain my earlier point, however, if there are means to identify problems (such as manipulation, if it is taking place in ways that are outside of "acceptable" limits) and then to figure out the least intrusive ways to resolve such problems - sometimes that may mean that the best way is to establish some kind of an oversight body... that has teeth that will minimize and/or prevent the problems (if manipulation rises to such level to be deemed a problem). |
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NotLambchop
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September 17, 2014, 09:04:17 PM |
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 Better than a digital clock showing 11:11. |
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omgbossis21
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September 17, 2014, 09:06:03 PM |
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Wonder when miners start getting shut off, its going to get interesting....
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rocks
Legendary
Offline
Activity: 1153
Merit: 1000
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September 17, 2014, 09:06:23 PM |
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Sell! Sell! Sell!
(Sell me your coins!!!!!)
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Gyrsur
Legendary
Offline
Activity: 2856
Merit: 1518
Bitcoin Legal Tender Countries: 2 of 206
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September 17, 2014, 09:08:40 PM |
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one letter: W
hope so.
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abercrombie
Legendary
Offline
Activity: 1159
Merit: 1001
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September 17, 2014, 09:09:19 PM |
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why down?
is the ceo of bitcoin selling?
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NotLambchop
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September 17, 2014, 09:09:23 PM |
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...
I maintain my earlier point, however, if there are means to identify problems (such as manipulation, if it is taking place in ways that are outside of "acceptable" limits) and then to figure out the least intrusive ways to resolve such problems - sometimes that may mean that the best way is to establish some kind of an oversight body... that has teeth that will minimize and/or prevent the problems (if manipulation rises to such level to be deemed a problem).
Sure. Bitcoin community is slowly reinventing the wheel. Unregulated markets caused problems, that's why people invented regulations and regulated them. |
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samsonn25
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September 17, 2014, 09:09:27 PM |
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Wonder when miners start getting shut off, its going to get interesting....
New product development should slow down too, with these 2 things difficulty should slow down slightly, but there are still people who have access to cheap or free electricity. |
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AirFlame
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September 17, 2014, 09:11:53 PM |
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I think it will bounce and going up soon. Remember dont panic when it goes under 442 !
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samsonn25
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September 17, 2014, 09:12:08 PM |
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Sell! Sell! Sell!
(Sell me your coins!!!!!)
Maybe difficulty will be 1 TRILLION by next Sept. |
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findftp
Legendary
Offline
Activity: 1022
Merit: 1006
Delusional crypto obsessionist
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September 17, 2014, 09:13:01 PM |
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I don't want to spoil the party, but I really really think the bubble will start between september 25th and october 25th.
Somewhere in between we will see the 8888th page of this thread, and then it will happen. I'll promise.
7777 didn't work so this must be it.
I would like to remind people of this fact. It doesn't matter if you sell or buy. Just wait for 8888 (it rhymes!) |
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fonzie
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September 17, 2014, 09:13:20 PM |
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If you bought BTC >500$ and cut your looses<460 then now would be the perfect time to short as hard as you can to recover some of your looses, as this is an almost safe bet. Bitfinex is for noobs as they offer only 3,3:1 leverage, i hereby recommend OKcoin.com which provides 10:1 or if you´re not from the US use "Plus500" with it´s 17:1, it´s practically free money, you can thank me later.
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btcpokerface
Member
Offline
Activity: 70
Merit: 10
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September 17, 2014, 09:13:42 PM |
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I think it will bounce and going up soon. Remember dont panic when it goes under 442 !
I hope when this drop will end we had reached the real bottom. |
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Stevenrm87
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September 17, 2014, 09:16:11 PM |
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It appears the heavy hitters are pulling out of BTC and going into Alts such as PPC and NMC and others as of late...
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samsonn25
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September 17, 2014, 09:17:30 PM |
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It appears the heavy hitters are pulling out of BTC and going into Alts such as PPC and NMC and others as of late...
The more simple answer is there are more sellers (mostly miners) than buyers (retail or institutional). 3600 bitcoins are mined everyday |
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findftp
Legendary
Offline
Activity: 1022
Merit: 1006
Delusional crypto obsessionist
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September 17, 2014, 09:18:57 PM |
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It appears the heavy hitters are pulling out of BTC and going into Alts such as PPC and NMC and others as of late...
So they exchange BTC for FIAT and buy alts? I don't think so. There are not many alts for sale in fiat. Most of them can be bought for BTC or LTC |
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AirFlame
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September 17, 2014, 09:19:36 PM |
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Here we go the buy begins  Now is only way up ! Buy time $$$ |
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Stevenrm87
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September 17, 2014, 09:20:34 PM |
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It appears the heavy hitters are pulling out of BTC and going into Alts such as PPC and NMC and others as of late...
So they exchange BTC for FIAT and buy alts? I don't think so. There are not many alts for sale in fiat. Most of them can be bought for BTC or LTC Nope they are selling BTC for PPC and NMC right now. USB/BTC arb bots are doing the rest... |
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