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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1803493 times)
cypherdoc
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September 23, 2014, 08:49:33 PM
 #12641

we need a lot more talk like this:


“I do think some countries in Europe have the opportunity to get ahead [of the U.S.] by being more open to innovation from Bitcoin companies,” Wedbush Securities managing director and payments expert Gil Luria told Fusion. “If countries like Switzerland or the UK decide to be less restrictive on Bitcoin companies, than they can get an edge over the U.S.”


http://fusion.net/story/17405/u-s-hesitation-is-chasing-bitcoin-to-europe/
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Chalkbot
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September 23, 2014, 08:50:03 PM
 #12642

you know what this is, right?




The answer is some kind of dinosaur, right?
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September 23, 2014, 08:51:19 PM
 #12643

you know what this is, right?




The answer is some kind of dinosaur, right?

That's what I was thinking.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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cypherdoc
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September 23, 2014, 08:54:58 PM
 #12644

the first stab up to 450 took out alot of the resistance in the 440 range.  now we're taking out the rest on the way back up.  like i said, there's not much btwn here and 600.  breakaways tend to hurt the most:

sgbett
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September 23, 2014, 08:57:45 PM
 #12645

can i be the first to coin the phrase

#paypalcolypse

http://haschinabannedbitcoin.com
Full Node: http://46.51.193.129 (BU)
"A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution" - Satoshi Nakamoto
cypherdoc
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September 23, 2014, 08:59:37 PM
 #12646

oh my
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September 23, 2014, 09:01:20 PM
 #12647

i love short squeezes Cheesy

The squeeze hasn't even started yet, 11,227.90 BTC still lent out on bitfinex.

Shorts increasing, now at 11,325.44 BTC.  This is going to be fun Smiley.

A few bears got the memo: 10,444.71 BTC

Still a lot of pain left to doll out, new highs on bitfinex as we speak.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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tabnloz
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September 23, 2014, 09:03:02 PM
 #12648

wow, switch off for a few hours and boom

imteresting to see how this plays out. paypal announcement in the midst of stock market falls and weakening gold..

buckle up.

cypherdoc
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September 23, 2014, 09:05:10 PM
 #12649

wow, switch off for a few hours and boom

imteresting to see how this plays out. paypal announcement in the midst of stock market falls and weakening gold..

buckle up.



exactly right.  that is the whole point of this thread; to correlate all these markets and make sense of the big picture.

don't forget bonds, currencies, and commodities though  Wink
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September 23, 2014, 10:02:19 PM
 #12650

          ..○
┗(°0°)┛
marcus_of_augustus
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September 23, 2014, 10:06:44 PM
 #12651

lol, wtf. the shorts on finex are still there in their full 11k beauty...?!? wouldn't have thought.


... or they never intend to pay those BTC back ... just settle up in fiat, like has been done on gold futures for the last 20 years  ... gee, noone saw that one coming Roll Eyes

anybody stupid enough to lend out BTC for shorting deserves to lose ALL of them.

cypherdoc
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September 23, 2014, 10:10:15 PM
 #12652

lol, wtf. the shorts on finex are still there in their full 11k beauty...?!? wouldn't have thought.


... or they never intend to pay those BTC back ... just settle up in fiat, like has been done on gold futures for the last 20 years  ... gee, noone saw that one coming Roll Eyes

anybody stupid enough to lend out BTC for shorting deserves to lose ALL of them.

Bitfinex would have to be in cahoots to allow that.  if they are, they deserve to be shut down.
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Crypto is the separation of Power and State.


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September 23, 2014, 10:14:26 PM
 #12653

lol, wtf. the shorts on finex are still there in their full 11k beauty...?!? wouldn't have thought.


... or they never intend to pay those BTC back ... just settle up in fiat, like has been done on gold futures for the last 20 years  ... gee, noone saw that one coming Roll Eyes

anybody stupid enough to lend out BTC for shorting deserves to lose ALL of them.

Bitfinex would have to be in cahoots to allow that.  if they are, they deserve to be shut down.

Maybe the need to paper BTC is the only reason Bitfinex, etc. are allowed to exist.

The difference between bad and well-developed digital cash will determine whether we have a dictatorship or a real democracy.  David Chaum 1996
Fungibility provides privacy as a side effect.  Adam Back 2014
"Monero" : { Private - Auditable - 100% Fungible - Flexible Blocksize - Wild & Free® - Intro - Wallets - Podcats - Roadmap - Dice - Blackjack - Github - Android }


Bitcoin is intentionally designed to be ungovernable and governance-free.  luke-jr 2016
Blocks must necessarily be full for the Bitcoin network to be able to pay for its own security.  davout 2015
Blocksize is an intentionally limited resource, like the 21e6 BTC limit.  Changing it degrades the surrounding economics, creating negative incentives.  Jeff Garzik 2013


"I believed @Dashpay instamine was a bug & not a feature but then read: https://bitcointalk.org/index.php?topic=421615.msg13017231#msg13017231
I'm not against people making money, but can't support questionable origins."
https://twitter.com/Tone_LLT/status/717822927908024320


The raison d'être of bitcoin is trustlessness. - Eric Lombrozo 2015
It is an Engineering Requirement that Bitcoin be “Above the Law”  Paul Sztorc 2015
Resiliency, not efficiency, is the paramount goal of decentralized, non-state sanctioned currency -Jon Matonis 2015

Bitcoin is intentionally designed to be ungovernable and governance-free.  luke-jr 2016

Technology tends to move in the direction of making surveillance easier, and the ability of computers to track us doubles every eighteen months. - Phil Zimmerman 2013

The only way to make software secure, reliable, and fast is to make it small. Fight Features. - Andy Tanenbaum 2004

"Hard forks cannot be co
cypherdoc
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September 23, 2014, 11:29:13 PM
 #12654

volumes exploding all around last few days.  lol, someone knew something big was coming:

marcus_of_augustus
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September 23, 2014, 11:39:54 PM
 #12655



Total BTC value (CAP) and number BTC TXS squared excluding popular addresses (with a simple exponential fit line). Data from Blockchain.info.

On current trend of ~4years, CAP ~$100 billion Aug. 2015, $1 Trillion Aug. 2016 (after next halving) ... unless TXS hit some limit.

cypherdoc
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September 23, 2014, 11:43:06 PM
 #12656

this is gonna be great.

the shorts are mostly punks who have no idea how much pain Bitcoin can inflict on the upswing.  orders of magnitude type pain.
justusranvier
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September 23, 2014, 11:47:43 PM
 #12657

anybody stupid enough to lend out BTC for shorting deserves to lose ALL of them.
...and they probably will.
thezerg
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September 23, 2014, 11:51:50 PM
 #12658

anybody stupid enough to lend out BTC for shorting deserves to lose ALL of them.
...and they probably will.

This sort of reasoning and the low rates right now is what makes me think that short lenders are not doing so for interest but to encourage price falling
marcus_of_augustus
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September 24, 2014, 12:04:17 AM
 #12659

this is gonna be great.

the shorts are mostly punks who have no idea how much pain Bitcoin can inflict on the upswing.  orders of magnitude type pain.

This thought has crossed my mind more than few times. In the early days of commodity derivative trading there used to be these long periods of flat pricing and then sudden discontinuous events, particularly spot electricity and precious metals. All these massive losses (Enron, LTCM) were be papered over by CB's pumping enough fiat to slosh around and the actual deliverable good had long enough lag time delay on expected delivery.  

Bitcoin is the first digital commodity where immediate delivery is not only expected but immediate fail-to-deliver is a loud market signal of an insolvent counterparty. Futures and derivative markets in a digital commodity available for immediate delivery seem foolhardy, but the massive speculative mania that has engulfed financial markets for the last 30 years on the back of easy fiat money has given rise to any number of hare-brained speculative secondary markets. Bitcoin derivatives could turn out to be the final denouement for the speculative manias, almost like the fiat speculators graveyard.

The proof-of-solvency measures being rolled out by bitcoin counterparties are an interesting phenomena all in themselves.

cypherdoc
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September 24, 2014, 12:26:42 AM
 #12660

this is gonna be great.

the shorts are mostly punks who have no idea how much pain Bitcoin can inflict on the upswing.  orders of magnitude type pain.

This thought has crossed my mind more than few times. In the early days of commodity derivative trading there used to be these long periods of flat pricing and then sudden discontinuous events, particularly spot electricity and precious metals. All these massive losses (Enron, LTCM) were be papered over by CB's pumping enough fiat to slosh around and the actual deliverable good had long enough lag time delay on expected delivery.  

Bitcoin is the first digital commodity where immediate delivery is not only expected but immediate fail-to-deliver is a loud market signal of an insolvent counterparty. Futures and derivative markets in a digital commodity available for immediate delivery seem foolhardy, but the massive speculative mania that has engulfed financial markets for the last 30 years on the back of easy fiat money has given rise to any number of hare-brained speculative secondary markets. Bitcoin derivatives could turn out to be the final denouement for the speculative manias, almost like the fiat speculators graveyard.

The proof-of-solvency measures being rolled out by bitcoin counterparties are an interesting phenomena all in themselves.

those exchanges that offer derivatives trading, especially shorting BTC, need to be watched like a hawk.

there should be no cash settlements allowed to take the place of lost BTC.  this would be how naked shorting and market manipulation would occur. 

proof of solvency and reserves should be demanded by the community to root out any shenanigans.
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