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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
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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?

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Burrrtingz
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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
phazon307
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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
phazon307
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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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phazon307
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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
 #14

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
 #18

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
 #20


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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