Gold collapsing. Bitcoin UP.

[RickyRickyyyy]

China and BTC = future
USD and EUR = fucked

[cypherdoc]

nice gap down.  i'm sure they'll have this corrected by morning:

actually, most Bitcoiners are spoiled by 24/7 markets. 

just look at how unfair this Dow futures market is for the average investor.  the Dow runs up fast at the end of the normal trading day on Friday going into 4PM EST.  now, Sunday evening, they gap the futures market down -60 as of now.  it could get much worse by tomorrow morning but all the while, average investors that don't trade futures, are trapped to deal with tomorrow morning's opening tick.  i see this crap all the time, especially with after hours earnings reports which gap up or down up to 20%.  it's unfair for most investors.

[damnek]

i see this crap all the time, especially with after hours earnings reports which gap up or down up to 20%.  it's unfair for most investors.

As an investor in stocks, you can't afford not to sell some option premium against what you hold, especially around earnings reports. I had stocks go 30% against me after earnings and I would've never been able to recover those positions if it wasn't for half a year of selling calls against them.

[cypherdoc]

more Japan:

http://www.zerohedge.com/news/2014-09-14/why-collapse-abenomics-important-its-large-scale-failure-keynesian-stimulus-real-tim

[cypherdoc]

Wednesday we should get some fireworks from the FOMC meeting followed by Thursday fireworks from Scotland:

http://www.calculatedriskblog.com/2014/09/fomc-preview-more-tapering.html

http://www.zerohedge.com/news/2014-09-14/china-bad-news-scotland-no-news-send-futures-lower

[cypherdoc]

Snowden on New Zealand lying:

https://firstlook.org/theintercept/2014/09/15/snowden-new-zealand-surveillance/

[zeetubes]

I hope this joke can be retold about the banks in the near future.

"The US Postal service lost $2 billion last quarter. Postal officials are busy emailing each other wondering how this could happen."

[Zarathustra]

Wednesday we should get some fireworks from the FOMC meeting followed by Thursday fireworks from Scotland:

http://www.calculatedriskblog.com/2014/09/fomc-preview-more-tapering.html

http://www.zerohedge.com/news/2014-09-14/china-bad-news-scotland-no-news-send-futures-lower

Scottish Independence Referendum Outcome Betting Odds: 1:4

http://www.oddschecker.com/politics/british-politics/scottish-independence/referendum-outcome

[Erdogan]

more Japan:

http://www.zerohedge.com/news/2014-09-14/why-collapse-abenomics-important-its-large-scale-failure-keynesian-stimulus-real-tim

The old style keynesian theory of using central banks to smooth out the market fluctuations, with accumulating reserves in upturns to ease the downturns, is intrinsically the same problems as the daytraders (and the more time-stretched traders) face. Basically, you have to know something about the future to trade successfully. This is just one proof that keynesianism don't work. (And if you remove the accumulation in upturns, can it possibly succeed? It is like a daytrader only buying, never selling...)

[cypherdoc]

i always felt this was going to happen but didn't expect verification so fast:

News that each individual unit would cost around $500 to purchase, not to mention install and maintain, quickly disenfranchised many retailers that could not afford the high buy in price for the new technology.

http://www.dumb-out.net/apple-pay-takes-major-hit-wal-mart-best-buy-will-use-system/6515

[wachtwoord]

Wednesday we should get some fireworks from the FOMC meeting followed by Thursday fireworks from Scotland:

http://www.calculatedriskblog.com/2014/09/fomc-preview-more-tapering.html

http://www.zerohedge.com/news/2014-09-14/china-bad-news-scotland-no-news-send-futures-lower

Scottish Independence Referendum Outcome Betting Odds: 1:4

http://www.oddschecker.com/politics/british-politics/scottish-independence/referendum-outcome

Wow a short while ago it was considered a coin flip (slightly in favor of yes). I'm rooting for the Scots to pull through.

[hdbuck]

Wednesday we should get some fireworks from the FOMC meeting followed by Thursday fireworks from Scotland:

http://www.calculatedriskblog.com/2014/09/fomc-preview-more-tapering.html

http://www.zerohedge.com/news/2014-09-14/china-bad-news-scotland-no-news-send-futures-lower

Scottish Independence Referendum Outcome Betting Odds: 1:4

http://www.oddschecker.com/politics/british-politics/scottish-independence/referendum-outcome

Wow a short while ago it was considered a coin flip (slightly in favor of yes). I'm rooting for the Scots to pull through.

I am very amused with those Scottish trolling the system hard, I do think the "yes" (to independence) will be massively voted upon, but i nonetheless am sort of confused regarding a last minute fraud, ultimately preventing their independence.
I feel the process of voting is not as democratic as i seems, dices can be rigged, in fact, they probably have been in the past. Voting is just an illusion to keep the people under control. If the "No" wins with some magical 51/49% or 52/48% i will certainly doubt the legitimacy of it and call it freaking BS. In the end, if they cheat in Scotland, dont bother voting for anything else


edit: Banks and financials services "threatening" to relocate in London if they secede... http://www.zerohedge.com/news/2014-09-12/panic-streets-london-can-scotland-ever-be-same-again
That just says it all imho. ^^

[cypherdoc]

from the Boston Fed:  

The Bitcoin network as originally designed, and especially its associated digital currency, will probably not survive in the long run. Some serious design flaws of the current Bitcoin system have been identified, and some of them may eventually prove fatal.

First, realistic growth projections of the scale of the blockchain indicate that it will likely become infeasible for individual users to store the data on their personal computers, and this may happen as soon as within a year or two. Currently, it already requires nearly 10 gigabytes of hard drive space to store the entire blockchain.

Second, the resource cost of mining is becoming increasingly unaffordable, not to mention the inefficiency associated with this aspect of the system design. Again, it is possible that within a few years it will become infeasible to rely on this distributed model, however consolidated, to verify transactions.


clearly, i don't agree with this.  their concerns have been addressed many times here in the forums.  plus, i think the Fed seriously underestimates the drive of the ppl to regain control of their money (wealth and capital).  

in fact i'll go as far as to repeat what i've said before:  The blockchain may only ever be applicable to Bitcoin as Money-cypherdoc

this is why we're all here in the first place.

http://www.bostonfed.org/economic/current-policy-perspectives/2014/cpp1404.pdf

[cypherdoc]

edit: Banks and financials services "threatening" to relocate in London if they secede... http://www.zerohedge.com/news/2014-09-12/panic-streets-london-can-scotland-ever-be-same-again
That just says it all imho. ^^

yep, what caught my eye:

Crucially, since the RBS and Lloyds were both bailed out by the UK government during the financial crisis, the UK government is now a significant shareholder in both institutions, owning a whopping 80% of the RBS and 25% of Lloyds.

[hdbuck]

from the Boston Fed:  

The Bitcoin network as originally designed, and especially its associated digital currency, will probably not survive in the long run. Some serious design flaws of the current Bitcoin system have been identified, and some of them may eventually prove fatal.

First, realistic growth projections of the scale of the blockchain indicate that it will likely become infeasible for individual users to store the data on their personal computers, and this may happen as soon as within a year or two. Currently, it already requires nearly 10 gigabytes of hard drive space to store the entire blockchain.

Second, the resource cost of mining is becoming increasingly unaffordable, not to mention the inefficiency associated with this aspect of the system design. Again, it is possible that within a few years it will become infeasible to rely on this distributed model, however consolidated, to verify transactions.


clearly, i don't agree with this.  their concerns have been addressed many times here in the forums.  plus, i think the Fed seriously underestimates the drive of the ppl to regain control of their money (wealth and capital).  

in fact i'll go as far as to repeat what i've said before:  The blockchain may only ever be applicable to Bitcoin as Money-cypherdoc

this is why we're all here in the first place.

http://www.bostonfed.org/economic/current-policy-perspectives/2014/cpp1404.pdf

So childish those non-arguments!

That really does not sound like the initial results the fed got from their analysts..

http://www.reddit.com/r/Bitcoin/comments/2cpew8/game_changer_bitcoin_research_at_the_federal/

Probably buried the real deal. ^^

ps: reddit source, not sure if true, although the guy wrote in a very good english and puts relative efforts into proving his point and identity.

[cypherdoc]

from the Boston Fed:  

The Bitcoin network as originally designed, and especially its associated digital currency, will probably not survive in the long run. Some serious design flaws of the current Bitcoin system have been identified, and some of them may eventually prove fatal.

First, realistic growth projections of the scale of the blockchain indicate that it will likely become infeasible for individual users to store the data on their personal computers, and this may happen as soon as within a year or two. Currently, it already requires nearly 10 gigabytes of hard drive space to store the entire blockchain.

Second, the resource cost of mining is becoming increasingly unaffordable, not to mention the inefficiency associated with this aspect of the system design. Again, it is possible that within a few years it will become infeasible to rely on this distributed model, however consolidated, to verify transactions.


clearly, i don't agree with this.  their concerns have been addressed many times here in the forums.  plus, i think the Fed seriously underestimates the drive of the ppl to regain control of their money (wealth and capital).  

in fact i'll go as far as to repeat what i've said before:  The blockchain may only ever be applicable to Bitcoin as Money-cypherdoc

this is why we're all here in the first place.

http://www.bostonfed.org/economic/current-policy-perspectives/2014/cpp1404.pdf

So childish those non-arguments!

That really does not sound like the initial results the fed got from their analysts..

http://www.reddit.com/r/Bitcoin/comments/2cpew8/game_changer_bitcoin_research_at_the_federal/

Probably buried the real deal. ^^

ps: reddit source, not sure if true, although the guy wrote in a very good english and puts relative efforts into proving his point and identity.

thanks for reminding me of that.

i find it interesting that all the negative pronouncements we are getting from different countries come from their CB's.  the other gvt agencies seem to be sufficiently confused enough to go along.  the most striking example was out of China last year.  several gvt agencies actually had issued somewhat positive reports on Bitcoin.  only several months later when the PBOC weighed in did the negative propaganda start coming out of their mouths.  what do you expect?

the binary proposition with Bitcoin is so huge and the potential for so much disruption for positive good remains so high that if there is ANY chance that it can work makes it worthwhile to get involved.

and the fact of the matter is that Bitcoin looks like it is NOT going anywhere.

[NewLiberty]

Oh Noes!  The block chain takes so many gigabytes now that it costs almost US$10 to store it on a thumb drive smaller than most the keys on your keychain.

Unfeasible!

They are living in the 20th century, or earlier methinks.

[cypherdoc]

Oh Noes! 

i love your humor

or maybe you're just a cocky ass troll, like me, according to notme.

[cypherdoc]

[cypherdoc]

ok NXT, when are you going to get it together?

https://twitter.com/jgarzik/status/511566276255154177