Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[tarmi]

Sweet, I can buy much more then too

Our internal indicators are flashing.  Guess I would be buying right now.

my internal indicators are flashing too.

"poor trader" warning is issued.

Nice healthy pullback.

What is interesting is that shorters are closing contracts not longs. So the big sells driving this are actual coins being sold rather than closed leveraged longs. Seems like a short term dip.

Tarmi have you finally made some money on this 20 dollar move? Does it make up for your recent disasters?

didn't close any of my short positions. my greed is bigger than others.

delusional bulls will suffer.

[adamstgBit]

delusional bulls will suffer.

i'm buying 

[sAt0sHiFanClub]

Bitcoin actually super healthy. Everyone back in quick!!

Please stop trolling, thx.

Dont think that will happen. The only ones to get upset are the permabulls, and trolling them is like poking a pointy stick into a sack of puppies. No matter how often you do it, you will always get the same reaction. And if you stop, LFC_bitcoin will wonder why you have stopped.

The troll-permabull dynamic is one of the more entertaining aspects of this thread. Market insight certainly isn't.  

[Silverspoon]

...
Nice healthy pullback.
...

I suspect the pullbacks will only get healthier as more & more Bitcoiners realize their magik tokens are worthless for buying drugs.
There's simply not enough demand for terrorists and child pornography to support Bitcoin's current price.


Or is there?

http://www.coindesk.com/overstock-reveals-items-most-often-bought-with-bitcoin/

Sure.  And to buy dope from a local bodega, you got to buy a candy bar too.

Also https://bitcointalk.org/index.php?topic=935202.0

[inca]

...
Nice healthy pullback.
...

I suspect the pullbacks will only get healthier as more & more Bitcoiners realize their magik tokens are worthless for buying drugs.
There's simply not enough demand for terrorists and child pornography to support Bitcoin's current price.


Or is there?

How long until you get this account (created on the same day as NLC) banned for droning on about child pornography, too?

Telling that you have returned to post on the only price weakness for weeks. This place was far friendlier with without you in it.
In the real world being an unpleasant sinister piece of work disliked somewhere means you stay away. Take the hint.

[JorgeStolfi]

*Invertible bloom filters - proposal by Gavin addresses this issue (incentive)

I read a write-up of Gavin's proposal, some months ago, but it did not seem to have been thoroughly thought of yet at the time.   From what I understood, I thought that a malicious miner could broadcast non-invertible filters and make honest miners waste time waiting for the actual data to show up, and thus gain some advantage.  I don't know whether all potential attacks, like this one, were considered and excluded.

[Silverspoon]

...
How long until you get this account (created on the same day as NLC) banned for droning on about child pornography, too? ...

How could you possibly know that The Lamb was banned?  Unless... you are The Lamb?!
A fiendish ploy: pretending to be anti-Lamb, but being so horrible at it as to make The Lamb appear even more glorious and triumphant

[brg444]

delusional bulls will suffer.

i'm buying 

Are you using QuadrigaCX now Adam?

[adamstgBit]

delusional bulls will suffer.

i'm buying 

Are you using QuadrigaCX now Adam?

ya

[macsga]

...
Nice healthy pullback.
...

I suspect the pullbacks will only get healthier as more & more Bitcoiners realize their magik tokens are worthless for buying drugs.
There's simply not enough demand for terrorists and child pornography to support Bitcoin's current price.


Or is there?

http://www.coindesk.com/overstock-reveals-items-most-often-bought-with-bitcoin/

Bagley told CoinDesk:

“The only thing that makes that list interesting is the fact that it’s so unremarkable. I guess bitcoiners are regular people.”

That is utterly wrong! No such thing as "regularity" here. The only closer to this is "regulation" which is yet to be seen any time soon...  

[JorgeStolfi]

Lets not forget that [ the Evolution thieves ] stole from drugs and arms dealers too....this isn't exactly nice Mt. Gox trading businesses that they stole from...

However, the thieves may be mobsters themselves.  They could refund damages of "colleagues", but may just show the Varoufakis Finger to rivals and small crooks.

[soullyG]

The UK Treasury has released its latest report on the Bitcoin/crypto (haven't had a chance to read it yet though):

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/414040/digital_currencies_response_to_call_for_information_final_changes.pdf

And a token mention of Bitcoin hidden away in the 2015 budget report:

2.215 Digital Currencies - The government is today announcing its intention to apply anti-money laundering regulation to digital currency exchanges in the UK, to support innovation and prevent criminal use. The government is also launching a new research initiative which will bring together the research councils, Alan Turing Institute and Digital Catapult with industry in order to address the research opportunities and challenges for digital currency technology, and will increase research funding in this area by £10 million to support this. Finally, the government will work with the British Standards Institution and the digital currency industry to develop voluntary standards for consumer protection.

[dreamspark]

Lets not forget that [ the Evolution thieves ] stole from drugs and arms dealers too....this isn't exactly nice Mt. Gox trading businesses that they stole from...

However, the thieves may be mobsters themselves.  They could refund damages of "colleagues", but may just show the Varoufakis Finger to rivals and small crooks.

Do you know who the evolution admins were?

They were admins of a credit card fraud forum so I think its safe to say they weren't exactly pillars of the community in the first place.

[Silverspoon]

...
Do you know who the evolution admins were?

They were admins of a credit card fraud forum so I think its safe to say they weren't exactly pillars of the community in the first place.

Well, Bitcoin community...

[Spaceman_Spiff]

Fuck off Stolfi, you're a turd in the swimming pool.

Fuck off yourself.  At least Stolfi has some interesting arguments from time to time, even if I usually disagree with them.
You are just a disgrace for the community.

[macsga]

The UK Treasury has released its latest report on the Bitcoin/crypto (haven't had a chance to read it yet though):

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/414040/digital_currencies_response_to_call_for_information_final_changes.pdf

Code:

4.7 The government recognises that the technology associated with digital currencies offers
considerable promise, making it possible for users to transfer value (or other information)
quickly, efficiently and securely, providing a permanent record of what has taken place, and
without the need for a trusted third party to oversee the process. In response, the government is
launching a new research initiative which will bring together the Research Councils, Alan Turing
Institute and Digital Catapult with industry in order to address the research opportunities and
challenges for digital currency technology, and will increase research funding in this area by £10
million to support this.
 
4.8 In addition, in February 2015, the Bank of England announced it will undertake research on
central bank-issued digital currencies as part of its new research agenda. This work covers the
potential costs and benefits of doing so as well as the economic impact, technolog

Whoah! that's great! Looks like we have been in their scope; what's next? Implementing crypto in their banks?

[thefunkybits]

Nice hidden buy order at 274 on Finex

[soullyG]

Whoah! that's great! Looks like we have been in their scope; what's next? Implementing crypto in their banks?

We can only hope updated my post with some additional info

[inca]

The UK Treasury has released its latest report on the Bitcoin/crypto (haven't had a chance to read it yet though):

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/414040/digital_currencies_response_to_call_for_information_final_changes.pdf

And a token mention of Bitcoin hidden away in the 2015 budget report:

2.215 Digital Currencies - The government is today announcing its intention to apply anti-money laundering regulation to digital currency exchanges in the UK, to support innovation and prevent criminal use. The government is also launching a new research initiative which will bring together the research councils, Alan Turing Institute and Digital Catapult with industry in order to address the research opportunities and challenges for digital currency technology, and will increase research funding in this area by £10 million to support this. Finally, the government will work with the British Standards Institution and the digital currency industry to develop voluntary standards for consumer protection.

Just skimmed through. Positive noises and burblings. AML for exchanges will not rock the boat. The absence of anything encouraging banks to accept bitcoin companies, despite that being a major concern in the previous release, is unsurprising...

[JorgeStolfi]

The next decision was to limit the number of atomic units (satoshis) to about 2^51 - 1 = 2'251'799'813'685'247, which is the maximum range of integers that can be safely manipulated in IEEE double-precision floating point without rouding.  That would allow any bitcoin accounting to be done on an Excel spreadsheet without losing a satoshi.  (Excel, and many other programs, use double-precsion floating point for all numbers,  Most computer nerds would never have tought of that.  They generally avoid floating-point because of its complicated rounding, and would have picked 2^63 or 2^62 instead.  But Satoshi obviously was not a typical computer nerd, knew how Excel works, and knew how to use FP without rounding.)

This makes no sense. Are you seriously suggesting that the precision of Bitcoin is a function of an accomodation to a third rate amateur spreadsheet application?

No, rather accomodation of the main tool of accounting and of other important software tools.

Programmers dont use FP because its lossy. Its lossy at any precision.

Good programmers know how to use FP without any loss of precision.  Indeed, they often use FP for integer computatons because on some processor chips the FP multiply and divide units are often faster than the 64-bit integer counterparts.  (That is how the infamous "Pentium division bug" was found, by the way.)

Also, most financial standards specifically proscribe FP calculations for financial systems.

That recommendation is relevant only for amounts larger than 10^15 cents = 10 trillion dollars (or 10^15 dollars if all amounts are whole dollars).   Most accounting is done in Excel-like spreadsheetsthat use FP doubles for all quantities (even though users are rarely aware of it).