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Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
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JayJuanGee
Legendary
 Offline
Activity: 3710
Merit: 10221
Self-Custody is a right. Say no to"Non-custodial"
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May 07, 2014, 07:24:25 PM |
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Seems like a losing strategy to wait for the best possible price to buy BTC. Seems better (and safer) to buy BTC as the price is going down. Even though you may NOT minimize your average price per BTC, at least you will NOT be chasing the price up or be left at the train station.
Translation: Contrary to the advice of almost every experienced trader, trying to call the bottom is a good idea. *edit* And I bought a lot of bitcoin at much higher price and desperately need the support of greater fools. Your "translation" makes LITTLE to NO sense, and seems to be an attempt to be argumentative b/c you seem to be butt hurt that BTC is NOT going to zero or to double digits or anywhere near those prices that you have been projecting. You seem to have unrealistic and overly pessimistic views about the long term potentials for BTC, which makes me wonder why you participate in this thread? Are you trying to "save" us from bitcoin or do you merely get joy in the spreading of FUD? My comment in the above post is NOT based on my own position in BTC. I am saying what I believe to be a good BTC investment strategy for someone who wants to get into BTC. In sum, invest in BTC on the way down, b/c currently BTC prices are good and inevitably in the medium term they will be going up (likely this calendar year or even within the coming months). I am NEITHER biased by NOR worried about my own position in BTC (currently average buy-in price of $599) either b/c I am in BTC long, and I have considerable confidence that BTC is on its way up, at least in the next couple of years (or sooner) and that fairly easily BTC prices will go above my average buy-in price of $599. Accordingly, I feel that I do NOT need to convince anyone else to buy into BTC b/c it seems very likely that BTC prices will be going up - NO matter what I say.. As you may or may NOT have heard, there is network momentum with BTC that will likely continue to cause exponential growth in BTC prices - whether that growth is 10x (as it has been historically in the last 4 years) or 2x (which is more modest), I am fairly confident that some form of exponential growth in BTC will continue to take place. I am more inclined to think that exponential growth will be 2x to 5x in the next few years rather than 10x, as it had been. Yet, my investment in BTC does NOT rely upon exponential growth b/c I invested only as much as I am willing to lose. I would be completely happy with BTC performance that beats my average stock index fund returns (which is about 6% per year), yet in my view, even if BTC does NOT meet or beat that 6% per year, for me, it remains a diversified investment in my portfolio that is worth the risk b/c of a considerable upside potential. |
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Walsoraj
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May 07, 2014, 07:26:13 PM |
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Seems like a losing strategy to wait for the best possible price to buy BTC. Seems better (and safer) to buy BTC as the price is going down. Even though you may NOT minimize your average price per BTC, at least you will NOT be chasing the price up or be left at the train station.
Translation: Contrary to the advice of almost every experienced trader, trying to call the bottom is a good idea. *edit* And I bought a lot of bitcoin at much higher price and desperately need the support of greater fools. Your "translation" makes LITTLE to NO sense, and seems to be an attempt to be argumentative b/c you seem to be butt hurt that BTC is NOT going to zero or to double digits or anywhere near those prices that you have been projecting. You seem to have unrealistic and overly pessimistic views about the long term potentials for BTC, which makes me wonder why you participate in this thread? Are you trying to "save" us from bitcoin or do you merely get joy in the spreading of FUD? My comment in the above post is NOT based on my own position in BTC. I am saying what I believe to be a good BTC investment strategy for someone who wants to get into BTC. In sum, invest in BTC on the way down, b/c currently BTC prices are good and inevitably in the medium term they will be going up (likely this calendar year or even within the coming months). I am NEITHER biased by NOR worried about my own position in BTC (currently average buy-in price of $599) either b/c I am in BTC long, and I have considerable confidence that BTC is on its way up, at least in the next couple of years (or sooner) and that fairly easily BTC prices will go above my average buy-in price of $599. Accordingly, I feel that I do NOT need to convince anyone else to buy into BTC b/c it seems very likely that BTC prices will be going up - NO matter what I say.. As you may or may NOT have heard, there is network momentum with BTC that will likely continue to cause exponential growth in BTC prices - whether that growth is 10x (as it has been historically in the last 4 years) or 2x (which is more modest), I am fairly confident that some form of exponential growth in BTC will continue to take place. I am more inclined to think that exponential growth will be 2x to 5x in the next few years rather than 10x, as it had been. Yet, my investment in BTC does NOT rely upon exponential growth b/c I invested only as much as I am willing to lose. I would be completely happy with BTC performance that beats my average stock index fund returns (which is about 6% per year), yet in my view, even if BTC does NOT meet or beat that 6% per year, for me, it remains a diversified investment in my portfolio that is worth the risk b/c of a considerable upside potential. You are a fool who wastes many words. |
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akujin
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May 07, 2014, 07:33:31 PM |
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JayJuanGee
Legendary
Offline
Activity: 3710
Merit: 10221
Self-Custody is a right. Say no to"Non-custodial"
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May 07, 2014, 07:34:09 PM |
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Seems like a losing strategy to wait for the best possible price to buy BTC. Seems better (and safer) to buy BTC as the price is going down. Even though you may NOT minimize your average price per BTC, at least you will NOT be chasing the price up or be left at the train station.
Translation: Contrary to the advice of almost every experienced trader, trying to call the bottom is a good idea. *edit* And I bought a lot of bitcoin at much higher price and desperately need the support of greater fools. Your "translation" makes LITTLE to NO sense, and seems to be an attempt to be argumentative b/c you seem to be butt hurt that BTC is NOT going to zero or to double digits or anywhere near those prices that you have been projecting. You seem to have unrealistic and overly pessimistic views about the long term potentials for BTC, which makes me wonder why you participate in this thread? Are you trying to "save" us from bitcoin or do you merely get joy in the spreading of FUD? My comment in the above post is NOT based on my own position in BTC. I am saying what I believe to be a good BTC investment strategy for someone who wants to get into BTC. In sum, invest in BTC on the way down, b/c currently BTC prices are good and inevitably in the medium term they will be going up (likely this calendar year or even within the coming months). I am NEITHER biased by NOR worried about my own position in BTC (currently average buy-in price of $599) either b/c I am in BTC long, and I have considerable confidence that BTC is on its way up, at least in the next couple of years (or sooner) and that fairly easily BTC prices will go above my average buy-in price of $599. Accordingly, I feel that I do NOT need to convince anyone else to buy into BTC b/c it seems very likely that BTC prices will be going up - NO matter what I say.. As you may or may NOT have heard, there is network momentum with BTC that will likely continue to cause exponential growth in BTC prices - whether that growth is 10x (as it has been historically in the last 4 years) or 2x (which is more modest), I am fairly confident that some form of exponential growth in BTC will continue to take place. I am more inclined to think that exponential growth will be 2x to 5x in the next few years rather than 10x, as it had been. Yet, my investment in BTC does NOT rely upon exponential growth b/c I invested only as much as I am willing to lose. I would be completely happy with BTC performance that beats my average stock index fund returns (which is about 6% per year), yet in my view, even if BTC does NOT meet or beat that 6% per year, for me, it remains a diversified investment in my portfolio that is worth the risk b/c of a considerable upside potential. You are a fool who wastes many words. And, you are profound and pithy. I'm impressed.  |
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Walsoraj
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May 07, 2014, 07:35:51 PM |
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Thread needs a new poll: The pumpers will move to which exchange? |
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windjc
Legendary
Offline
Activity: 2156
Merit: 1070
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May 07, 2014, 07:42:33 PM |
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I don't think we are dumping today. This impulse up was too sharp in my opinion. I think we test the highs of last week before selling off again.
Honestly, what's going on with these Chinese exchanges is beyond me at this point. I assume the rise is based on short covering. But no rise can sustain for too long, not with NO money coming into the exchanges.
But for today we are probably going to see more up before we see more down.
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JimboToronto
Legendary
Offline
Activity: 4004
Merit: 4481
You're never too old to think young.
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May 07, 2014, 07:42:50 PM |
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I thought listentobitcoin was malware infested and replaced by bitlisten. |
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akujin
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May 07, 2014, 07:46:58 PM |
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They say there's a trojan on the site?? |
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akujin
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May 07, 2014, 07:48:08 PM |
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I thought listentobitcoin was malware infested and replaced by bitlisten. I just found it from google when trying to find a way to see the realtime btc transactions a while ago. |
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latoxine
Newbie
Offline
Activity: 51
Merit: 0
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May 07, 2014, 08:00:33 PM |
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I thought listentobitcoin was malware infested and replaced by bitlisten. I just found it from google when trying to find a way to see the realtime btc transactions a while ago. It remind me an artist who did a similar thing by translating charts from ''sp500'' into music. But it wasn't so peacefull...great ambient. ps : If you click very quickly on a bubble while holding "F5" key, the buble bursts and the amount is transfert from a chinese's wallet to your... |
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ChartBuddy
Legendary
Offline
Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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May 07, 2014, 08:01:12 PM |
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Ivanhoe
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May 07, 2014, 08:11:13 PM |
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Oh btw just for your information. During the weekend of the bitcoin conference in Amsterdam next week ( who will attend this? ) there is another congress in Amsterdam. This one will be held in a office of the ABN Amro bank however ( just 100 seats ). A lot of Dutch bankers will attend this congress, like Jan-Kees de Jager ( former Dutch minister of Finance ) for example. Dutch bankers are really eager to understand bitcoin, i can tell you this from personal experience as well. History tells Holland always leads the way in Finance  . |
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thezerg
Legendary
Offline
Activity: 1246
Merit: 1010
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May 07, 2014, 08:12:36 PM |
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I don't think we are dumping today. This impulse up was too sharp in my opinion. I think we test the highs of last week before selling off again.
Honestly, what's going on with these Chinese exchanges is beyond me at this point. I assume the rise is based on short covering. But no rise can sustain for too long, not with NO money coming into the exchanges.
But for today we are probably going to see more up before we see more down.
Bitfinex shorts are actually pretty high right now at 9.5k BTC... so on average ppl are taking not covering. Longs are moderately high at 16.8M USD. |
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oda.krell
Legendary
Offline
Activity: 1470
Merit: 1007
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May 07, 2014, 08:14:22 PM |
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Oh btw just for your information. During the weekend of the bitcoin conference in Amsterdam next week ( who will attend this? ) there is another congress in Amsterdam. This one will be held in a office of the ABN Amro bank however ( just 100 seats ). A lot of Dutch bankers will attend this congress, like Jan-Kees de Jager ( former Dutch minister of Finance ) for example. Dutch bankers are really eager to understand bitcoin, i can tell you this from personal experience as well. History tells Holland always leads the way in Finance . Don't know yet. Are you planning to? Presenting something, or just interested in the talks? |
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NotLambchop
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May 07, 2014, 08:15:10 PM |
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...History tells Holland always leads the way in Finance . UR the tulip bulb guys, right? |
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JorgeStolfi
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May 07, 2014, 08:15:32 PM |
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If anyone is interested: I saved about 1 hour of Huobi's transaction log from earlier today (2014-07-07) centered on 02:54 UTC. That's in the middle of the small hump that preceded today's mini-rally. http://www.ic.unicamp.br/~stolfi/temp/2014-05-07-0254-HUBI.txtThe file has 879 transactions. It was built by repeated copy-pasting from Bitcoinwisdom's chart (which shows only the last 200 transactions) reformatted and cleaned by a couple of gawk scripts. Beware of possible gaps or errors. Unix users may be interested in the scripts too: http://www.ic.unicamp.br/~stolfi/temp/cleanup_bitcoinwisdom_trans_log.gawkBasic reformat/cleanup script. Click on the chart, then CTRL-A CTRL-C, then paste into a file, then pipe the file through, for example, gawk -f cleanup_bitcoinwisdom_trans_log.gawk -v curr=CNY -v ex=Huobi -v dt=2014-05-07 http://www.ic.unicamp.br/~stolfi/temp/remove_dup_trans.gawkA script to merge several files obtained as above, with overlapping time intervals. Save each CTRL-A CTRL-C to a separate file, run the cleanup fillter above on each file, then concatenate the files in chronological order (most recent last), and pipe the concatenation through gawk -f remove_dup_trans.gawk |
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JorgeStolfi
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May 07, 2014, 08:19:08 PM |
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I wonder if a side effect of China's exchanges being hamstrung (at best) is that Chinese miners will stop mining because there's no easy way to sell their coins. That would lead to a drop in difficulty, benefiting miners elsewhere - though potentially placing further downward pressure on prices on the remaining exchanges.
I would think that the commercial Chinese miners can easily sell their coins in the Western exchanges or to Western clients, using Western bank accounts, all legally. The closure of Chinese exchanges may be a problem for small independent miners, perhaps. |
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Poll
