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Author Topic: Have we hit a dead zone?  (Read 2176 times)
phazon307
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March 06, 2014, 09:41:52 PM
 #1

Have we hit a dead period it seems like everything is quite on all crypto currencies all of them seem to be going down on the trading sites. Any idea if they will increase if so when?

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March 06, 2014, 09:43:59 PM
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Have we hit a dead period it seems like everything is quite on all crypto currencies all of them seem to be going down on the trading sites. Any idea if they will increase if so when?


I wouldnt exactly call things quite at the miniute
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March 06, 2014, 09:47:13 PM
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It just seems like it's losing it's momentum.

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March 06, 2014, 10:05:34 PM
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Have we hit a dead period it seems like everything is quite on all crypto currencies all of them seem to be going down on the trading sites.

No.

https://bitcoinaverage.com/charts.htm#EUR-averages-1w
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March 06, 2014, 10:30:45 PM
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I am not just referring to BTC if you look on the trading sites it seems that all the alt currencies have taken a major dive in the last week.

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March 06, 2014, 10:32:31 PM
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I'm guessing you got into the game in December/January and have a bunch of $1000 Bitcoins sitting around.

By the end of next month at the latest we will have permanently left behind 3 digits. You can quote me on this.
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March 06, 2014, 10:33:54 PM
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I am not just referring to BTC if you look on the trading sites it seems that all the alt currencies have taken a major dive in the last week.

Well the exchanges/trading sites haven't instilled much confidence lately. People need to buildup trust again. Give it time.

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March 06, 2014, 10:47:58 PM
 #8

if you know maths, this should be easy.

if a alt coins wants to be valued at lets say $1, then if bitcoin goes from $500 to $700 (40% rise) then the altcoin would change from
0.00200000 to then be 0.00142857 to remain at a $1 value

need i explain more?

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March 06, 2014, 10:51:49 PM
 #9

It just seems like it's losing it's momentum.

Don't worry. It's normal. We've been here every 6 months since the start. People are busy building things.

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March 08, 2014, 04:47:16 AM
 #10

if you know maths, this should be easy.

if a alt coins wants to be valued at lets say $1, then if bitcoin goes from $500 to $700 (40% rise) then the altcoin would change from
0.00200000 to then be 0.00142857 to remain at a $1 value

need i explain more?
This isn't true for instance bitcoin was down to 540 while Betacoin went up to 0.00006000 then bitcoin rised and now Bet is at 0.00001300 a very huge drop.

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March 08, 2014, 04:50:43 AM
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if you know maths, this should be easy.

if a alt coins wants to be valued at lets say $1, then if bitcoin goes from $500 to $700 (40% rise) then the altcoin would change from
0.00200000 to then be 0.00142857 to remain at a $1 value

need i explain more?
This isn't true for instance bitcoin was down to 540 while Betacoin went up to 0.00006000 then bitcoin rised and now Bet is at 0.00001300 a very huge drop.
Like 2/3rds of the alts did this.

Worldcoin was at .0007 for a while, now sitting at .00012.
When it got down to .0002 I thought "No way, surely it will go back up a little" and here it is approaching .0001. My coins are pretty much worthless.

This "$ value" math doesn't apply all of the time. It applies to Litecoin, some of the time. The rest of the alts almost always go down against BTC when BTC goes down against the dollar. They sort of, double lose. I've seen Litecoin go both ways depending on how the market feels that day.

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March 08, 2014, 04:52:47 AM
 #12

probably because of the mt.gox scandal.

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March 08, 2014, 05:07:41 AM
 #13

It seems like retailer adoption has died a bit. Would be good to see this back up to speed again.
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March 08, 2014, 05:23:24 AM
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Have we hit a dead period it seems like everything is quite on all crypto currencies all of them seem to be going down on the trading sites. Any idea if they will increase if so when?


If you listen closely you will hear the sound of money vanishing, the longer it takes for the missing money to be found the faster and more permenant the injury will be to btc infrastructure and most of the cryptocurrencies that have mirrored their protocol on btc's protocol.


https://bitcointalk.org/index.php?topic=492776.0;all


If you want to improve things around here I would suggest one of the following:

1) help find the money
2) encourage the various exchanges to adopt standards that are based on higher standards of security, responsibility, transparency, and accountability.  
The should be community certified, be bonded, have insurance, provide performance guarantees, provide better customer service, provide signed proof of solvency via the blockchain, provide regular audited statements, and the like
3) help develop a program that can search the blockchain for critical info
4) as others to help the cryptocurrency industry in any of these 4 ways

as it stands right now, the situation that occurred at Mt Gox could happen at any other exchange, which places the whole cryptocurrency in a downward pointing slow churning spiral.  Essentially, btc holders are slowly cashing in their coins in hopes that something material changes.  But as time passes the realization that the btc protocol flaw (inability to find the money, resulting in unreasonable high risk) becomes a painfully clear reality.

The blockchain is a perfect witness, it sees everything but if humans are unable to use it then it's dead to us.  

 
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March 08, 2014, 05:34:16 AM
 #15

As I see it until the whole situation about mtgox and satoshi are not determined the prices won't be stable and won't rise as well
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March 08, 2014, 06:23:57 AM
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As I see it until the whole situation about mtgox and satoshi are not determined the prices won't be stable and won't rise as well

NAILED IT. Gotta weather out this media storm.
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March 08, 2014, 06:34:55 AM
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As I see it until the whole situation about mtgox and satoshi are not determined the prices won't be stable and won't rise as well

I don't get this, "determined", people who were knee deep in Gox need to pull their head out of the sand and realize your coins are gone and are never coming back, move on, I know it is upsetting but it's not fair to drag the rest of the market down and everyone else's money too with endless speculations and worrying because they were foolish to use a known shady exchange as a crypto bank.
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March 08, 2014, 06:47:53 AM
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How can "we" be in a dead zone?  Last I checked this forum had members from all over the world so it would seem unlikely that we ALL would wind up without internet access at the same time. Huh Huh Huh
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March 08, 2014, 06:54:21 AM
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As I see it until the whole situation about mtgox and satoshi are not determined the prices won't be stable and won't rise as well

I don't get this, "determined", people who were knee deep in Gox need to pull their head out of the sand and realize your coins are gone and are never coming back, move on, I know it is upsetting but it's not fair to drag the rest of the market down and everyone else's money too with endless speculations and worrying because they were foolish to use a known shady exchange as a crypto bank.

dude, you don't get it.

I have never invested a dime in mt gox, but I know that if the money isn't found or the system doesn't compensates for the protocol flaw that the whole system is useless.

Useless as in worthless!

It's not about 'it happened, pick yourself up and move-on' this is total destruction or total change.  The system cannot scale in its present form, at this point the protocol is too insecure.

There is no meaningful security.  What occurred to Mt Gox could happen to ANY exchange at anytime, how do you expect anyone to operate with that level of insecurity -- they don't and that is why volume is shrinking and system vendors are giving up left and right.







 

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March 08, 2014, 07:05:02 AM
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dude, you don't get it.

I have never invested a dime in mt gox, but I know that if the money isn't found or the system doesn't compensates for the protocol flaw that the whole system is useless.

whole system is useless

Why the fuck should the bitcoin network have to pay for what mark karpeles did? Sry but the system is not useless. The current price is evidence of that.
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March 08, 2014, 07:05:35 AM
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As I see it until the whole situation about mtgox and satoshi are not determined the prices won't be stable and won't rise as well

I don't get this, "determined", people who were knee deep in Gox need to pull their head out of the sand and realize your coins are gone and are never coming back, move on, I know it is upsetting but it's not fair to drag the rest of the market down and everyone else's money too with endless speculations and worrying because they were foolish to use a known shady exchange as a crypto bank.

dude, you don't get it.

I have never invested a dime in mt gox, but I know that if the money isn't found or the system doesn't compensates for the protocol flaw that the whole system is useless.

Useless as in worthless!

It's not about 'it happened, pick yourself up and move-on' this is total destruction or total change.  The system cannot scale in its present form, at this point the protocol is too insecure.

There is no meaningful security.  What occurred to Mt Gox could happen to ANY exchange at anytime, how do you expect anyone to operate with that level of insecurity -- they don't and that is why volume is shrinking and system vendors are giving up left and right.







 



You realize that if someone had stolen cash from you it would be even harder, almost impossible, for the government to ever track it down for you?  That's just the way it is.  Some common sense tells people not to keep lots of cash in places thieves are known to have easy access to, like your pocket for example.  

How about you just take these common sense steps to protect yourself.

1.  Don't use a cloud wallet.  Ever.  Buy your BTC from Coinbase and withdraw it to your phone/PC immediately.

2.  Don't give out your private keys.  Ever.

3.  Don't expect a bail out if you decide to risk violating rules 1 and 2 just because they're convient.  Sorry, but your not to big to fail.  Get the fuck over it.
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March 08, 2014, 09:16:07 AM
 #22

If you listen closely you will hear the sound of money vanishing, the longer it takes for the missing money to be found the faster and more permenant the injury will be to btc infrastructure and most of the cryptocurrencies that have mirrored their protocol on btc's protocol.

actually the "valuable number" never vanishes. It gets transfered sometimes to those who know how to take it from insecure sites!. the market cap remains the same and the market will reward those who succeed in securing hack free wallets and punish those who do not by eliminating them. the protocol is sound and no regulation internal or external is required or desirable. the price will increase gradually as adoption increases (more buyers wanting a scarce rescource). mass adoption is a problem and will not happen until secure phone apps are available that are user friendly. so sit tight and enjoy the ride, 
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March 08, 2014, 05:34:38 PM
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If you listen closely you will hear the sound of money vanishing, the longer it takes for the missing money to be found the faster and more permenant the injury will be to btc infrastructure and most of the cryptocurrencies that have mirrored their protocol on btc's protocol.

actually the "valuable number" never vanishes. It gets transfered sometimes to those who know how to take it from insecure sites!. the market cap remains the same and the market will reward those who succeed in securing hack free wallets and punish those who do not by eliminating them. the protocol is sound and no regulation internal or external is required or desirable. the price will increase gradually as adoption increases (more buyers wanting a scarce rescource). mass adoption is a problem and will not happen until secure phone apps are available that are user friendly. so sit tight and enjoy the ride, 



huh?

1) "the market cap remains the same" -  are you kidding me, look at it. 
2)  "'valuable number' never vanishes. It gets transfered"  - if you had btc when it was $1200 took it offline and put it in cold storage and only took it out today you would see its value had decrease 50% -- who did it 'transfer' to?   Is a 50% loss of equity the reward for having a hack-free wallet that is only opened once in 6 months?
3)  "the protocol is sound" - are the words said by those who don't see the faults and those who see the faults and don't want others to see the faults.
4)  "the price will increase gradually as adoption increases" - however btc adoption has never be as high as it is now however the market trend for year to date is a downward pointing price.   
5)  "buyers wanting a scarce resource" - scarce? there is more btc on the market now than ever before, there are more btc market participants than every before, however the volume is dropping and the price is dropping.  That would be an indication that the market either doesn't want btc or they feel the price is too high.





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March 08, 2014, 05:39:49 PM
 #24

i have read somewhere on the forum that btc will be around 1000$ by  mid or end of April!! Smiley
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March 08, 2014, 05:51:49 PM
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All I know is I would not want to be the guy who ripped off a bunch of programmers/hackers/druggies that dude put himself in a stupid position and he is probably hiding now biting his fingernails.

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March 08, 2014, 05:52:48 PM
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Have we hit a dead period it seems like everything is quite on all crypto currencies all of them seem to be going down on the trading sites. Any idea if they will increase if so when?

not sure how closely you follow the news, but things have been the exact opposite of quiet recently.

multiple exchanges hacked
companies going out of business
ceo's of exchanges killing themselves
companies stopping services in america
the real fake real satoshi nakamoto found
tbi calling for foundation members to step down or on monday he is leaking damaging documents to the press



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March 08, 2014, 06:01:44 PM
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We've hit a low point as far as news lately - mtgox, that other exchange, satoshi nonsense. I think the fact that the price is still over $600 even with all this FUD shows that when it's over, we're going to see a major price spike.

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March 08, 2014, 06:24:05 PM
 #28

We've hit a low point as far as news lately - mtgox, that other exchange, satoshi nonsense. I think the fact that the price is still over $600 even with all this FUD shows that when it's over, we're going to see a major price spike.
THIS! The community seems to be full of believers, who stand strong despite all this crap in the media. We all knew the exchanges are vulnerable and mainstream media lie.


@BTCisthefuture, If by CEO suicides you mean Autumn Radtke, as far as I know there are no information whether it was suicide and what was the cause, so don't link this to bitcoin until you have some evidence. Right now you're just spreading FUD.

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March 08, 2014, 06:53:33 PM
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We've hit a low point as far as news lately - mtgox, that other exchange, satoshi nonsense. I think the fact that the price is still over $600 even with all this FUD shows that when it's over, we're going to see a major price spike.


so you thing the rate is being artificially held down, although the hard evidence shows that that rate is artificially held up.   


the reason for the 'f' and 'd' is because of the 'u' which was brought on by the revelation that the protocol needs a search program to allow the community to follow the money when it needs to.   If you cannot follow the money, if any exchange can simply take your money (slow drip or wholesale), points to a major security problem within the system.

As long as that system flaw remains the value will continue to fall as holders of btc divest from cryptocurrencies altogether


 
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March 08, 2014, 07:01:49 PM
 #30

I am not just referring to BTC if you look on the trading sites it seems that all the alt currencies have taken a major dive in the last week.

Bitcoin.  The only place where "dives" and "crashes" are measured in minutes and days.

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March 08, 2014, 07:16:10 PM
 #31

Have we hit a dead period it seems like everything is quite on all crypto currencies all of them seem to be going down on the trading sites. Any idea if they will increase if so when?

not sure how closely you follow the news, but things have been the exact opposite of quiet recently.

multiple exchanges hacked
companies going out of business
ceo's of exchanges killing themselves
companies stopping services in america
the real fake real satoshi nakamoto found
tbi calling for foundation members to step down or on monday he is leaking damaging documents to the press




Exactly there's a whirlwind of shit going on right now. It's gonna get worse when we finally get an official account of what really happened @Gox . Trying to oust Satoshi made me think...Not now I really don't need this right now.

I never thought my life could be. Anything but catastrophe. But suddenly I begin to see. A "BIT" of good luck for me. Cause I've got a golden ticket!
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March 08, 2014, 07:31:10 PM
 #32

I am a new to this community so I am always interested in old members's posts as they know about the past of bitcoin and I would like to thank all lod members for sharing the history of bitcoin
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March 08, 2014, 07:46:51 PM
 #33

I am not just referring to BTC if you look on the trading sites it seems that all the alt currencies have taken a major dive in the last week.

Bitcoin.  The only place where "dives" and "crashes" are measured in minutes and days.

bitcoin has dived, crashed, tumbled, fallen, lost, etc ... for the whole year so if you measure it in months, quarters, or ytd you will still see the bears
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