fonzie
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January 26, 2014, 09:36:40 AM |
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Look at Gox price ! It is crazy !
167 USD spread to BitStamp. It will end in some erruption... We will have 200$ very soon. Awesome
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bitdig
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January 26, 2014, 09:51:35 AM |
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Lets agree that for btc to become "reserve currency" it doesn't really matter if there are 30, 47 or 200 people holding those chunk of coins... still the price can be manipulated... It can't be reserve currency, not in the near future, not when 47 people, holding 30% of all bitcoins, mostly very young people can dictate its price... When, and if, they start to cash out we might start think about it...
I agree that the bitcoin wealth distribution likely follows a Pareto distribution (many coins are held by only a few people), but do you realize that the "47" number was pulled out of...I mean "estimated" by Risto Pietila right here at BitcoinTalk.org? https://bitcointalk.org/index.php?topic=432430.msg4740844#msg4740844
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kurious
Legendary
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Activity: 2590
Merit: 1643
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January 26, 2014, 09:54:00 AM |
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Wondering about Willy - does any one have thoughts on a couple of points:
1. Frequency of buys / amount of buys - are these comparable to last time Willy was 'on'?
2. What was the length of run of the bot?
3. What was the estimated total buy? I think it was in excess of 2000 BTC / day.
Just trying to have some idea of how long it (may) go on for - assuming it is buying is a similar way as the last run.
Of course if it is just Mark propping up Gox's price, knowing will do me no good at all, but indulge me?
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Peter R
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Activity: 1162
Merit: 1007
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January 26, 2014, 09:54:25 AM |
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Lets agree that for btc to become "reserve currency" it doesn't really matter if there are 30, 47 or 200 people holding those chunk of coins... still the price can be manipulated...
And so can fiat and so can gold and so can any form of money that humanity ever cooks up. For me, bitcoin seems most just.
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fonzie
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January 26, 2014, 10:02:05 AM |
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Recovery started , led by Gox. Organic & natural.
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ChartBuddy
Legendary
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Activity: 2338
Merit: 1802
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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January 26, 2014, 10:02:49 AM |
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T.Stuart
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January 26, 2014, 10:03:48 AM |
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Recovery started , led by Gox. Organic & natural. Led by BTC-e
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T.Stuart
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January 26, 2014, 10:05:15 AM |
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Is BTC-e the biggest exchange by volume now?
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Sitarow
Legendary
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Activity: 1792
Merit: 1047
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January 26, 2014, 10:34:29 AM |
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For those who may not be aware. As many have implied, Bitcoin economy has come under speculative pressure not only by new adopters of BTC but of Crypto coins in general. The "alt-coin" mining landscape have opened up the opportunity for speculative miners have taken up the mine and dump for BTC and then sell for USD strategy. This applies to both SHA256 or Scrypt "alt-coins". Bitcoin / litecoin have been under pressure in the sense that many speculators have been trading them for the "Flavor of the Day" "scam coins" that have been popping up in the wild. The return for miners to Jump on this strategy of mining is high when you factor what it costs to get 1BTC using traditional ASIC hardware. Please review this link below. http://www.coinwarz.com/cryptocurrency/?sha256HashRate=4500000.00&sha256Power=8000.00&sha256PowerCost=0.1000&scryptHashRate=50000.00&scryptPower=12000.00&scryptPowerCost=0.1000&sha256Check=false&scryptCheck=trueIt shows the type of return one could expect running a GPU operation at 50,000 KH/s and what you would get if you just mined and dumped every 24 hours. With the advent of scrypt ASIC hardware seeming possible some time this year. I wonder how long this strategy will hold until 1 coin scrypt emerges winner. Yes I may have let the cat out of the bag however I feel people should be informed as to what may be putting added pressure in keeping btc and its "network" at such an undervalued state.
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fonzie
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January 26, 2014, 10:37:53 AM |
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Newest updates about BTC withdrawl problems on Mt. Gox https://bitcointalk.org/index.php?topic=429769.0I think it´s only fair not to discriminate FIAT holders over there, now everyone has to wait(until the end of days ). I have the same problem, now 48 hours. I decided to investigate and pulled all the TXs from https://data.mtgox.com/api/0/bitcoin_tx.php - i found my receiving address in there. I then transmitted all of the transactions to the network.. the outputs on mine and over 200 other ones have already been spent, and the network rejects them immediately. Seems like a problem with double spending, which would imply a race condition within their code, so no kind of locking in place to prevent this happening. MtGox - if this could be the case and you need advice on how to prevent it happening, please get in touch with me. It doesn't matter which programming language you're using for this process I will be able to help you fix it if you need some help. I don't think Gox are going to take you up on that offer for all kinds of reasons
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ChartBuddy
Legendary
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January 26, 2014, 11:02:48 AM |
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BCbitcoin
Newbie
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Activity: 54
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January 26, 2014, 11:03:45 AM |
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Newest updates about BTC withdrawl problems on Mt. Gox https://bitcointalk.org/index.php?topic=429769.0I think it´s only fair not to discriminate FIAT holders over there, now everyone has to wait(until the end of days ). I have the same problem, now 48 hours. I decided to investigate and pulled all the TXs from https://data.mtgox.com/api/0/bitcoin_tx.php - i found my receiving address in there. I then transmitted all of the transactions to the network.. the outputs on mine and over 200 other ones have already been spent, and the network rejects them immediately. Seems like a problem with double spending, which would imply a race condition within their code, so no kind of locking in place to prevent this happening. MtGox - if this could be the case and you need advice on how to prevent it happening, please get in touch with me. It doesn't matter which programming language you're using for this process I will be able to help you fix it if you need some help. I don't think Gox are going to take you up on that offer for all kinds of reasons Old news. That problem has been there forever. There are multiple websites dedicated to showing these spent output problem transactions.
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solex
Legendary
Offline
Activity: 1078
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100 satoshis -> ISO code
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January 26, 2014, 11:32:14 AM |
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For those who may not be aware. As many have implied, Bitcoin economy has come under speculative pressure not only by new adopters of BTC but of Crypto coins in general. The "alt-coin" mining landscape have opened up the opportunity for speculative miners have taken up the mine and dump for BTC and then sell for USD strategy. This applies to both SHA256 or Scrypt "alt-coins". Bitcoin / litecoin have been under pressure in the sense that many speculators have been trading them for the "Flavor of the Day" "scam coins" that have been popping up in the wild. The return for miners to Jump on this strategy of mining is high when you factor what it costs to get 1BTC using traditional ASIC hardware. Please review this link below. http://www.coinwarz.com/cryptocurrency/?sha256HashRate=4500000.00&sha256Power=8000.00&sha256PowerCost=0.1000&scryptHashRate=50000.00&scryptPower=12000.00&scryptPowerCost=0.1000&sha256Check=false&scryptCheck=trueIt shows the type of return one could expect running a GPU operation at 50,000 KH/s and what you would get if you just mined and dumped every 24 hours. With the advent of scrypt ASIC hardware seeming possible some time this year. I wonder how long this strategy will hold until 1 coin scrypt emerges winner. Yes I may have let the cat out of the bag however I feel people should be informed as to what may be putting added pressure in keeping btc and its "network" at such an undervalued state. Indeed. And bitstamp/btce are probably seeing steady sales of coins (via BitPay/Coinbase) because of the major retailers Overstock, TigerDirect, plus Zynga and Shopify who convert coins to fiat straightaway. So, until the customers on those sites are using newly acquired coins more than old coins the selling pressure continues.
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JorgeStolfi
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January 26, 2014, 11:35:24 AM |
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The CEO of MtGOX is one of the board members of the Bitcoin Foundation...
So who is going to warn the world to stay away from MtGOX?
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smiley123
Member
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Activity: 101
Merit: 10
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January 26, 2014, 11:58:42 AM |
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For those who may not be aware. As many have implied, Bitcoin economy has come under speculative pressure not only by new adopters of BTC but of Crypto coins in general. The "alt-coin" mining landscape have opened up the opportunity for speculative miners have taken up the mine and dump for BTC and then sell for USD strategy. This applies to both SHA256 or Scrypt "alt-coins". Bitcoin / litecoin have been under pressure in the sense that many speculators have been trading them for the "Flavor of the Day" "scam coins" that have been popping up in the wild. The return for miners to Jump on this strategy of mining is high when you factor what it costs to get 1BTC using traditional ASIC hardware. Please review this link below. http://www.coinwarz.com/cryptocurrency/?sha256HashRate=4500000.00&sha256Power=8000.00&sha256PowerCost=0.1000&scryptHashRate=50000.00&scryptPower=12000.00&scryptPowerCost=0.1000&sha256Check=false&scryptCheck=trueIt shows the type of return one could expect running a GPU operation at 50,000 KH/s and what you would get if you just mined and dumped every 24 hours. With the advent of scrypt ASIC hardware seeming possible some time this year. I wonder how long this strategy will hold until 1 coin scrypt emerges winner. Yes I may have let the cat out of the bag however I feel people should be informed as to what may be putting added pressure in keeping btc and its "network" at such an undervalued state. This is interesting, but I would think script ASIC hardware would be more expensive to make which makes me wonder how this will play out in the long run when script difficulty gets close to btc difficulty.
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pickaname
Newbie
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January 26, 2014, 11:59:36 AM |
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ChartBuddy
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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January 26, 2014, 12:02:37 PM |
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gentlemand
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Activity: 2590
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Welt Am Draht
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January 26, 2014, 12:06:37 PM |
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since it's quite boring here, allow me to post something totally OT (probably): This is an exciting time. Something important is going to happen sometime next month, in February 2014. Nothing can stop it now. There will be an announcement, and the world will change on the date of that announcement. In the beginning, only a few will understand the significance of the announcement, and what it means for all of humanity currently living on this planet. Some will laugh, and some will cry. But in time, the world will come to know that life on Earth changed significantly on that day in February 2014. A mystery that has confused our civilization for thousands of years will find an answer. And from that answer, a new direction for the future growth of our species will arise. No, there will not be Earth changes. No, the ETs will not land. No, the sky will not fall down, and the Earth will not shake. No, President Obama will not reveal...whatever. What will be announced is actually much bigger than all of that. Honest. Yes, I know something that I am not talking about. I am making a statement of fact, not making a prediction. But the reason for the delay is that much is going on right now. If everything was ready, the announcement would happen tomorrow. But things are not quite ready yet. They will be ready in February. We will include news of the announcement on this newsletter. But much will happen on my Facebook page, and there are already updates and energetic discussions going on currently on that Facebook page. I want to encourage all who are interested to visit this page and watch and/or participate. You can friend or follow the page as well so that you keep informed. Here is the link: [https://www.facebook.com/courtney.brown.7568596]( https://www.facebook.com/courtney.brown.7568596) Again, this is an exciting time. The announcement will not be about Earth changes or anything else that would disrupt normal lives. It will be about knew knowledge that will change the way all of humanity thinks of its past, and its present. It will be a moment of profound learning, nothing more, but nothing less. It will mark one of the most important moments in the history of our civilization. Not everyone will agree, but eventually, that is how most people will come to see it. The greatest changes occur on our planet not because physical things happen, but because new knowledge enters into our consciousness. Some new knowledge is so big, it fills the horizon and changes nearly everything. Courtney Brown, Ph.D., Director The Farsight Institute ...and people say bitcoiners are nutjobs... EDIT: for some context: the farsight institute is trying to use some very strange scientific methods and military-trained people that can somehow see one of several possible futures. Well, it's been a while since I read it. About the most strange stuff I've ever read. Well, I think the last time an announcement of this magnitude was made, humanity ended up being gifted with the Segway.
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seleme
Legendary
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Activity: 2772
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Duelbits.com
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January 26, 2014, 12:21:18 PM |
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180$ gap between Gox and Stamp, lol
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LOADING.READY.RUN
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January 26, 2014, 12:25:27 PM |
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180$ gap between Gox and Stamp, lol
It's growing rapidly -- yesterday it was still less than 160$
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