Taras
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Activity: 1386
Merit: 1053
Please do not PM me loan requests!
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August 01, 2014, 06:20:07 PM |
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Ahhhh, 600 again!
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Transactions must be included in a block to be properly completed. When you send a transaction, it is broadcast to miners. Miners can then optionally include it in their next blocks. Miners will be more inclined to include your transaction if it has a higher transaction fee.
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abercrombie
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Activity: 1159
Merit: 1001
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August 01, 2014, 06:23:38 PM |
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china is lagging behind but showing clear signs that it will follow suit, vol there is drescressing, if the pattern holds, this means its just about ready to move up.
China buying will trigger a nu wave of panicked short covering ! *watch* I think we're done for the week. It's going to be Saturday in China. They're out of office till Monday (Sunday in United States).
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justusranvier
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Activity: 1400
Merit: 1009
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August 01, 2014, 06:27:58 PM |
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dnaleor
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Activity: 1470
Merit: 1000
Want privacy? Use Monero!
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August 01, 2014, 06:28:49 PM |
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JorgeStolfi
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August 01, 2014, 06:30:57 PM |
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OK.. so on the front of pure unsubstantiated speculation [ about a fund's strategy ]....
1) buy OTC, sell on market to drive price down, setting artificially low "opening price" 2) "open fund" 3) buy on market for 30 days driving the price up 4) produce slick marketing campaign: " GABI UP 50% IN FIRST MONTH !!!! " 5) open fund for trading 6) profit.
I can only begin to imagine all the ways that a fund operator could make money, besides charging fees. Indeed, that seems to be one of them. But a fund will probably start with a stash of very cheap coins that the founders own. Or moderately cheap coins that they got at an auction. Creating a fund would be a way of selling them at market price, without imediately depressing that price. Creating a fund also allows the owner to "sell" his bitcoins without losing control over them. Then some "anonymous hacker" may break through the "professional" security barriers and steal all the coins. Such an event may be highly profitable, depending on who the hacker is and who will end up taking the loss. (Are any of the existing bitcoin funds insured against that?)
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Equate
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August 01, 2014, 06:32:44 PM |
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Ahhhh, 600 again! yeah , price is pretty much fluctuating around $600 , $599 atm.
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adamstgBit
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Activity: 1904
Merit: 1037
Trusted Bitcoiner
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August 01, 2014, 06:35:49 PM |
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OK.. so on the front of pure unsubstantiated speculation [ about a fund's strategy ]....
1) buy OTC, sell on market to drive price down, setting artificially low "opening price" 2) "open fund" 3) buy on market for 30 days driving the price up 4) produce slick marketing campaign: " GABI UP 50% IN FIRST MONTH !!!! " 5) open fund for trading 6) profit.
I can only begin to imagine all the ways that a fund operator could make money, besides charging fees. Indeed, that seems to be one of them. But a fund will probably start with a stash of very cheap coins that the founders own. Or moderately cheap coins that they got at an auction. Creating a fund would be a way of selling them at market price, without imediately depressing that price. Creating a fund also allows the owner to "sell" his bitcoins without losing control over them. Then some "anonymous hacker" may break through the "professional" security barriers and steal all the coins. Such an event may be highly profitable, depending on who the hacker is and who will end up taking the loss. (Are any of the existing bitcoin funds insured against that?) Mt gox really did a number on confident in third party's ability to secure bitcoin and for the same reason, all entities which hold customer bitcoins these days, have multi sig cold offline storage, attackers would need to hit several physical locations in a every short time window to have a chance. stop being so paranoid god damn it Jorge buy a bitcoin. you said you would! http://dcmagnates.com/newegg-offers-10-discount-on-bitcoin-purchases/
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Dotto
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Activity: 981
Merit: 1005
No maps for these territories
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August 01, 2014, 06:50:46 PM |
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That low ball dumpers derserve 3rd grade burns
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JorgeStolfi
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August 01, 2014, 06:55:09 PM |
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stop being so paranoid
Has anyone noticed that "fund" is "fud" with an extra "n"? Ignoring the question of whether a 10% discount will make newegg's prices (plus shipping and customs) competitive with local prices, I still woudl have to open an account with Bitpay or Coinbase i the US and send them my money, ahem, through international bank transfer or credit card. Or buy bitcoins at the MercadoBitcoin, site of the BitcoinRain "ponzhack" scam. Not this time yet, sorry.
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JayJuanGee
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Activity: 3696
Merit: 10188
Self-Custody is a right. Say no to"Non-custodial"
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August 01, 2014, 06:58:25 PM |
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What happened to your doomer predictions earlier in the week? My little brother was using my account and posting all kinds of FUD. I kicked him off. I have to use this some time. My lil doggie posted that.
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ChartBuddy
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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August 01, 2014, 06:59:59 PM |
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bigasic
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August 01, 2014, 07:04:11 PM |
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My coins are going to be my retirement. So, im more worried about the price 15-20 years down the road. The one thing bitcoin has done and always do is go down and up, rinse repeat.. I have total confidence that we will be well above the 5k mark in 10 years, probably sooner..
With those kinds of projections, you must have at least a couple hundred coins - or a plan to acquire at least a couple hundred coins. You think if BTC goes mainstream... and is still here in 15-20 years, that this chap will need hundreds to retire at that point? really? you cannot think they are going to go very high then. I was just using his price projection of BTC. He suggested that in 10 years, BTC will be well above the $5k mark, but he did NOT specify how much. In that regard, he may need 200 coins at $5k to be valued at $1million. That would NOT necessarily be a lucrative retirement, but could be manageable. In essence, I am NOT really sure about what Bigasic was suggesting, so I was trying to get him to elaborate somewhat. I was suggesting that i try not to worry about all these dips. My main concern is what Btc will be in the future, Even though I have sold many coins before it started to skyrocket, I still was able to hold to a "few" and still obtain them here and there. I feel that if Btc gets to 5k id probably sell most and invest the fiat into traditional investments. So, if it does get to 5k, I should be set for life.. Thanks to bitcoin, Im almost totally out of debt. (sold a chunk when it was just under 1k, I missed the 1200 boat) paid cash for a brand new car (which was totally surreal)Not trying to brag, just stating that even if bitcoin were to tank or go away, I still would look back and think that it was one of the best investments I ever made.
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JayJuanGee
Legendary
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Activity: 3696
Merit: 10188
Self-Custody is a right. Say no to"Non-custodial"
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August 01, 2014, 07:04:35 PM |
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Lol I wonder who these 8 people that claim to have more than > 10000 are. I hope to have at least 10 in the next 10 years, and for the 99% of us that missed the boat to get legitimate gains Bitcoin needs to go really high. 10K is the bare minimum. I wonder if we will see it in the next 10 years.
You invest what you can... and you did NOT miss the boat, so long as you know about BTC (which you do) and you are doing something about it (which it sounds as if you are). There are a lot more people out there who either have NOT heard about BTC or have NOT done anything about it or taken any action towards accumulating BTC.
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windjc
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August 01, 2014, 07:08:04 PM |
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Just in case anyone wants to know what's coming next in the market, here you go:
We just hit a short term top. Over the next week to month we are going to steadily fall.
The market will fall to somewhere between 520 and 565. This will be the make of break level. If we fall below 520 we are going to remain in what most would consider a prolonged bear market. If we bounce up off the 520-560 low, then we have a shot at continuing to build a base upward towards a new rally sooner.
This next leg down - the one that's already started from 607 - this is the make or break leg.
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JayJuanGee
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Activity: 3696
Merit: 10188
Self-Custody is a right. Say no to"Non-custodial"
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August 01, 2014, 07:09:49 PM |
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Choo choos are (as yet) premature...
...until we cross $700 again or thereabouts. Cross over $850-ish, then is the choo choo..
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bassclef
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August 01, 2014, 07:12:14 PM |
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Lol I wonder who these 8 people that claim to have more than > 10000 are. I hope to have at least 10 in the next 10 years, and for the 99% of us that missed the boat to get legitimate gains Bitcoin needs to go really high. 10K is the bare minimum. I wonder if we will see it in the next 10 years.
You invest what you can... and you did NOT miss the boat, so long as you know about BTC (which you do) and you are doing something about it (which it sounds as if you are). There are a lot more people out there who either have NOT heard about BTC or have NOT done anything about it or taken any action towards accumulating BTC. Right. You never know, the guy with a BTC10,000 wallet might sell most of it during the next bubble (I should say "accumulation cycle") thinking it won't go any higher. You just don't know. Lots of people had more bitcoins than that a few years ago and sold them at $5 or $10. That's how distribution works. Don't worry about what others are doing--worry about your own plan.
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rpietila
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Activity: 1722
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August 01, 2014, 07:15:33 PM |
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If BTC price heads south from 500, it means that the adoption has turned negative.
So not only all the initiatives that have been built this year with the funds generated by 2013 rallies, and the VC money, and the Wall Street initiatives, will turn out to be worth nothing, but also the internal growth in userbase that has averaged 0.6% per day since the start of 2010, will not only revert to zero, but also turn negative, with people who have used Bitcoin, ceasing the use and turning back to PayPal, en masse.
Sure. Believing in unicorns never made me rich in the first place.
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podyx
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Activity: 2338
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August 01, 2014, 07:21:38 PM |
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If BTC price heads south from 500, it means that the adoption has turned negative.
So not only all the initiatives that have been built this year with the funds generated by 2013 rallies, and the VC money, and the Wall Street initiatives, will turn out to be worth nothing, but also the internal growth in userbase that has averaged 0.6% per day since the start of 2010, will not only revert to zero, but also turn negative, with people who have used Bitcoin, ceasing the use and turning back to PayPal, en masse.
Sure. Believing in unicorns never made me rich in the first place.
Are you turning bearish??
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Peter R
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Activity: 1162
Merit: 1007
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August 01, 2014, 07:24:26 PM |
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Just in case anyone wants to know what's coming next in the market, here you go:
We just hit a short term top. Over the next week to month we are going to steadily fall.
The market will fall to somewhere between 520 and 565. This will be the make of break level. If we fall below 520 we are going to remain in what most would consider a prolonged bear market. If we bounce up off the 520-560 low, then we have a shot at continuing to build a base upward towards a new rally sooner.
This next leg down - the one that's already started from 607 - this is the make or break leg.
I'd like to see a marked increase in the daily number of transactions to confirm a new bull phase. According to the Metcalfe model (using TXs per day), the value is still approximately $400.
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hdbuck
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Activity: 1260
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August 01, 2014, 07:25:16 PM |
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If we break down again, it is just because the manipulators, wall street, whales, etc havent loaded up enough before starting the next rally. Silly monkeys need to be squeezed more.
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