Buying - market reacting very maturely to the malleability issue

[Rampion]

The market is reacting VERY maturely to a "major" issue: despite of devs trying to downplay the transaction malleability thing, the hard cold fact is that this limitation is being exploited right now to launch a DoS attack to the network which is slowing down (if not outright halting) the bitcoin economy. I've been sending coins to quite a few services for testing purposes (Bitstamp, Dgex, etc.) and all of my transfers were "mutated" and thus the coins were sent to the correct destination but they weren't credited to the corresponding accounts. Most transactions are delayed and big players such as Bitstamp, Gox or Coinbase are having problems tracking correctly the transactions.

Still BTC is trading well above $600 everywhere but Gox. This is a sign of strength in my book. Be prepared to buy, guys, because the network will come out MUCH stronger after this issue is solved.

(cross-posted in the Wall Observer).

[seldon]

Will be interesting to see if we have the same effect on trust and thus price as the fork last year

[bitcoinlitcoinbtcltc]

The market is reacting VERY maturely to a "major" issue: despite of devs trying to downplay the transaction malleability thing, the hard cold fact is that this limitation is being exploited right now to launch a DoS attack to the network which is slowing down (if not outright halting) the bitcoin economy. I've been sending coins to quite a few services for testing purposes (Bitstamp, Dgex, etc.) and all of my transfers were "mutated" and thus the coins were sent to the correct destination but they weren't credited to the corresponding accounts. Most transactions are delayed and big players such as Bitstamp, Gox or Coinbase are having problems tracking correctly the transactions.

Still BTC is trading well above $600 everywhere but Gox. This is a sign of strength in my book. Be prepared to buy, guys, because the network will come out MUCH stronger after this issue is solved.

(cross-posted in the Wall Observer).

You fool.
You still don't realize that over 50% of all bitcoins are controlled by a few people.
The only reason bitcoin is not crashing hard is because they are postponing the dump.
And FBI has yet to sell 144k bitcoins.

[fonzie]

There is also the sheepmarketplace guy with ~ 100000 stolen BTC
How´s he doin btw.?
He might wanna cash out anytime soon.

[Rampion]

The fact you low-activity-noobs spend your day trying to spread FUD in this forum is just a strong signal that this is a good time to buy. Probably soon we will see an even better chance.

As soon as you low-activity-noobs start posting "to the moon" and that kind of euphoria-driven posts, then it will be the time to sell.

That strategy never failed, did you know?

[ErisDiscordia]

Based on statistical analysis of "low-activity noobs" I estimate with a 55% probability that the bottom will be in 23 days at 470$ (235*2). BECAUSE SCIENCE AND REASONS! fnord

[tutkarz]

The fact you low-activity-noobs spend your day trying to spread FUD in this forum is just a strong signal that this is a good time to buy. Probably soon we will see an even better chance.

As soon as you low-activity-noobs start posting "to the moon" and that kind of euphoria-driven posts, then it will be the time to sell.

That strategy never failed, did you know?

Don't tell them that because there is random chance (low but still) that they will understand this some day. And who will be entertaining us then.

[seldon]

The fact you low-activity-noobs spend your day trying to spread FUD in this forum is just a strong signal that this is a good time to buy. Probably soon we will see an even better chance.

As soon as you low-activity-noobs start posting "to the moon" and that kind of euphoria-driven posts, then it will be the time to sell.

That strategy never failed, did you know?

Every now and then I click un-ignore just to immediately regret it. Won't fall for it this time though.

[synthesis]

The market is reacting VERY maturely to a "major" issue: despite of devs trying to downplay the transaction malleability thing, the hard cold fact is that this limitation is being exploited right now to launch a DoS attack to the network which is slowing down (if not outright halting) the bitcoin economy. I've been sending coins to quite a few services for testing purposes (Bitstamp, Dgex, etc.) and all of my transfers were "mutated" and thus the coins were sent to the correct destination but they weren't credited to the corresponding accounts. Most transactions are delayed and big players such as Bitstamp, Gox or Coinbase are having problems tracking correctly the transactions.

Still BTC is trading well above $600 everywhere but Gox. This is a sign of strength in my book. Be prepared to buy, guys, because the network will come out MUCH stronger after this issue is solved.

(cross-posted in the Wall Observer).

Couldn't agree more. Even with the state that Gox is in at the moment. If I was verified with them I would happily fund a purchase there. Ridiculously low coins for a site where the coins are historically more valued than the fiat.

I would suggest anything 650 and below will prove a very good buy

[Mythul]

The reaction is positive. No point in killing bitcoin for one bug. People worked their asses of so that bitcoin reach this stage and they won't let it down for one stupid bug.

BTW, Bitcoin didn't ever reach the 1.0.0 version

[JimboToronto]

the network will come out MUCH stronger after this issue is solved.

My thoughts exactly. What doesn't kill you makes you stronger.

The fact you low-activity-noobs spend your day trying to spread FUD in this forum is just a strong signal that this is a good time to buy. Probably soon we will see an even better chance.

As soon as you low-activity-noobs start posting "to the moon" and that kind of euphoria-driven posts, then it will be the time to sell.

That strategy never failed, did you know?

LOL How true.

[alexeft]

The market is reacting VERY maturely to a "major" issue: despite of devs trying to downplay the transaction malleability thing, the hard cold fact is that this limitation is being exploited right now to launch a DoS attack to the network which is slowing down (if not outright halting) the bitcoin economy. I've been sending coins to quite a few services for testing purposes (Bitstamp, Dgex, etc.) and all of my transfers were "mutated" and thus the coins were sent to the correct destination but they weren't credited to the corresponding accounts. Most transactions are delayed and big players such as Bitstamp, Gox or Coinbase are having problems tracking correctly the transactions.

Still BTC is trading well above $600 everywhere but Gox. This is a sign of strength in my book. Be prepared to buy, guys, because the network will come out MUCH stronger after this issue is solved.

(cross-posted in the Wall Observer).

Indeed!

[TERA]

the network will come out MUCH stronger after this issue is solved.

My thoughts exactly. What doesn't kill you makes you stronger.

I digress. What if it actually comes out weaker because merchants get turned off and decide not to adopt it.

[N12]

the network will come out MUCH stronger after this issue is solved.

My thoughts exactly. What doesn't kill you makes you stronger.

I digress. What if it actually comes out weaker because merchants get turned off and decide not to adopt it.

Who cares about merchants? They only serve to increase liquidity and depress prices.

Bitcoin's true value is in its enforced scarcity bound to a digital asset with 0 counterparty risk.

On Rampion: I do remember him laughing at me and going "this time is different" back in the quadruple digits … Nobody's perfect.

[oda.krell]

The fact you low-activity-noobs spend your day trying to spread FUD in this forum is just a strong signal that this is a good time to buy. Probably soon we will see an even better chance.

As soon as you low-activity-noobs start posting "to the moon" and that kind of euphoria-driven posts, then it will be the time to sell.

That strategy never failed, did you know?

Every now and then I click un-ignore just to immediately regret it. Won't fall for it this time though.

Hahaha, exactly the same here. I sometimes see those clusters of hidden comments (like the ones above, to which Rampion responded), and think "why did I put user XYZ on ignore again...?", click unhide, and go like "jup. that's why."


@Rampion

Good to see you in here again. And good to see you acting as a voice of reason, as always.

I will say one thing that is maybe not completely aligned to your thinking: we are still in a (pretty well established by now) bear market. If you buy in now, you're probably not going to regret it in a year from now, but alternatively, one can also bet on price still going lower.

Note, I'm not saying you shouldn't buy -- of course, everyone's buying (or trading) strategy is different. What I'm saying is, it's probably not a bad time to buy now *but* you might have to sit through another month or so of downward movement, so newcomers should be aware of that.

[alexeft]

That's what you get when you post this thread in the speculative board! Speculative answers! 

[Rampion]

The fact you low-activity-noobs spend your day trying to spread FUD in this forum is just a strong signal that this is a good time to buy. Probably soon we will see an even better chance.

As soon as you low-activity-noobs start posting "to the moon" and that kind of euphoria-driven posts, then it will be the time to sell.

That strategy never failed, did you know?

Every now and then I click un-ignore just to immediately regret it. Won't fall for it this time though.

Hahaha, exactly the same here. I sometimes see those clusters of hidden comments (like the ones above, to which Rampion responded), and think "why did I put user XYZ on ignore again...?", click unhide, and go like "jup. that's why."


@Rampion

Good to see you in here again. And good to see you acting as a voice of reason, as always.

I will say one thing that is maybe not completely aligned to your thinking: we are still in a (pretty well established by now) bear market. If you buy in now, you're probably not going to regret it in a year from now, but alternatively, one can also bet on price still going lower.

Note, I'm not saying you shouldn't buy -- of course, everyone's buying (or trading) strategy is different. What I'm saying is, it's probably not a bad time to buy now *but* you might have to sit through another month or so of downward movement, so newcomers should be aware of that.

Well, I think that *probably* we will see lower prices soon. I bought at $550ish on Stamp, but exactly 50% of my fresh fiat is waiting for lower prices.

On Rampion: I do remember him laughing at me and going "this time is different" back in the quadruple digits … Nobody's perfect. Cheesy

Well, all your "good by triple digits", "no more triple digits this year" posts were perfect to made fun of when we reached the quadruple digits

Anyhow I guess you will agree that "that time was different", as post-April 10th we didn't enter a loooooong slide down for many months as it happened in 2011. In fact the very bottom ($50) was only 2 days after the peak ($266), so I'd say that it was indeed very different.

What never changes: bitcoin is prone to boom and bust cycles. Buy during panic sells, sell during euphoria - and enjoy the ride.

[MatTheCat]

The fact you low-activity-noobs spend your day trying to spread FUD in this forum is just a strong signal that this is a good time to buy. Probably soon we will see an even better chance.

As soon as you low-activity-noobs start posting "to the moon" and that kind of euphoria-driven posts, then it will be the time to sell.

That strategy never failed, did you know?

Frankly, I find the FUD from the low activity noobs more palatable than all this endless 'The Titanic is not Sinking, Hooray, Hurrah' happy happy talk that has plagued this forum all the way down from $1000.

[Cyberlight]

The fact you low-activity-noobs spend your day trying to spread FUD in this forum is just a strong signal that this is a good time to buy. Probably soon we will see an even better chance.

As soon as you low-activity-noobs start posting "to the moon" and that kind of euphoria-driven posts, then it will be the time to sell.

That strategy never failed, did you know?

Frankly, I find the FUD from the low activity noobs more palatable than all this endless 'The Titanic is not Sinking, Hooray, Hurrah' happy happy talk that has plagued this forum all the way down from $1000.

Funny to hear from a authentic low-activity-noob.

[the_sunship]

if we are to compare Bitcoin to the early stages of the internet, that wasn't secure either. It took a few years before major security in browsers and websites were in full implementation. How did developers learn to make the internet more secure? Through attacks such as this. Noone went running out the door saying "this can never work!"

In the meantime, paper wallets.