Good question. Imagine the "money circle" game, except you are handing around those $50 bills in a circle of friends in 10 different countries. Using fiat and paying exorbitant fees this game would obviously not last long.

Next, imagine that there was some magical, mystical way that you could track the money as it floats from friend to friend and that as soon as one person tries to "pocket" the cash all the other participants would know instantly that the money did not go where it should have because they were all auditing everyone else's transactions in real time...

I decided I would take one for the team and sell some BTC, this usually triggers an upswing immediately afterward. You're welcome! 

Or maybe this one, but this would mean we aren't even rallying right now.

Mixed the pills again grandpa?

China inflated bitcoin 1000% with its trillion dollar shadow currency market, which does not exist in the U.S.

Purchasing the castle and initial investments ate about BTC3,000 of my stash so I am done for now. Next time I'll sell at $3k.

If you want to help me with ideas, how to integrate hotel and bitcoin as much as possible, I have a thread for it.

I think you missed the bit where all Teppino was saying is that Fonzie is right in that Bitfinex was down at the time. Not to all his other perma-bear/ uber-troll posts.

I doubt many people would have lost a lot on margin calls as when the site went down trading stopped, its not like you couldn't close a position while the market still moved. So the market was in exactly the same position when it opened as when it closed so no calls happened at a time you couldn't have closed them.

I'm selling my coins today. Will buy them back when we hit sub-400 prices in a couple of weeks or so.

Just wanted to publicly pat myself on the back.

Well this is pretty cool..

http://beta.slashdot.org/submission/3694105

Finnish National Digital TV Broadcaster Starts Sending Bitcoin Blockchain

"Finnish national digital TV broadcaster Digita co-operates with startup company Koodilehto to start transmission of Bitcoin blockchain and transactions in Terrestrial Digital TV (DVB-T) signal that covers almost the entire Finnish population of 5 million people. The pilot broadcasting starts in September the 1st and lasts two months. The broadcast can be received by a computer with any DVB-T adapter like this $20 dongle. Commercial production phase is planned to begin later this year."

I'm sure all the sellers missed that memo.

and lift

Bitcoin is going down and nobody knows why. Normally there were always some news we could blame but this dump is just ridiculous. IMO people saw somebody dumping, have no idea why and are doing the same.

Who's gonna buy when someone is gonna dump?

More than 90% of the transaction volume (transaction count and total BTC output) on the blockchain is "fake" -- that is, between addresses with the same owner. 

Prove that this statement is wrong.

(Evidence that it is correct: the way it has changed with time for the past year.)

Two obvious reasons why someone would want to move bitcoins between wallets of his own are (1) tumbling and (2) hotwallet/coldwallet management.  Someone may also be (3) torture-testing wallet software.  (All the blockchain traffic could easily be created by a single person with a modest BTC capital.)

Last time I checked, very few transactions included fees.  Right now the mining network is financed by "printing" new bitcoins, to the tune of 10% of the existing bitcoins per year.  (That is, 10% yearly inflation, in the strict sense of the term...)  Since address creation and transactions are free, there is nothing to discourage fake blockchain traffic.

Fake traffic may include also (4) intentional attempt to inflate the transaction volume.  Right now, if the cost of the mining network were to be paid by fees rather than "inflation tax", the fee would have to be nearly 4% of the total transaction amount.  But if fees were charged then the "fake" volume would all but disappear.  If only 50% of the transactions are real e-payments, then the cost of processing one transaction would be 8% of its amount; if only 10% is real, the cost would be 40%.  Thus someone may be inflating the volume to hide this unpleasant fact.

Some blockchain traffic is also (5) people depositing and withdrawing BTC from exchanges and other services with individual accounts.  Although that traffic is not "fake" by my defintion, it is still sort of fake because the BTC on the exchange still belong to the client, logically. 

(Bitcoins changing accounts inside the exchanged do not generate blockchain traffic, but they are not real e-payments either, since there is no counterpart transfer of goods or services -- merely a swap of one currency for another.)

Metcalfe's law seems to hold when the quantities are plotted in logscale over the last 5 years.  However, the last year is compressed to a tiny area at the top right corner of that plot.  At that scale, a deviation of 90% would hardly be noticed, since it would span less than 20% of the vertical scale.  If the data is plotted only over the last year, the fit is not that good.  And, anyway, if the traffic had been 90% "fake" over the last 5 years, Metcalfe's law would hold just as well.

https://www.youtube.com/watch?v=pF7HxLCFMeY


BITCOIN ON PAYPAL!

To enter an exchange, Know Your Customer regulations mean identification may be necessary. Crypto to crypto is best.

There is no "take too long" if you're selling millions in stolen btc.....plus sites like FakeIDKing.com sell scans that pass verification all the time - I've used them for bitstamp before with no issues.


It's really not hard

On the other hand it is bullish that they closed them, right?

Even if we won't have such a sudden spike in price.

Weren't these shorts a speculation of a falling price? So with them closing, they actually buy new BTC and you never buy before a price you personally see as bottom i'd think.
I'd treat this as bullish

When I see big dumping this is what I think http://www.arunjain.com/jokes/Shit_-_A_Bird_Story.htm
You'll have to hold tight Bitcoin won't go to a dollar but your faith will be tested.

In my view the manipulator on average are pushing the price up not down. Well that all changes with the coming ETF, as there will be new classes of manipulators, you won't know when you're falling or being dumped on.

Nah, they will create a new fiat currency.

Huge pumps? Time to buy? All i see is green @1min graph

Beware: that chart is buggy, the last data point is often garbage.  And there is no one at blockchain.info to fix it, apparently.

You should apply for the job. Hasnīt Walsoraj once said that you are about to become the chairman of the Bitcoin Foundation. 

the more bitcoin you own today the more bitcoin you will own on both Bitcoin Core and Bitcoin XT

put that in your pipe and smoke it

I happened to notice a single 12'000 BTC trade on OKCoin.  And the price dropped by 0.10 yuan.  Weird.

! single shorter, devoured the majority of that 2K wall on Finex, providing it was all real, and with Finex, I wouldn't take nothing as a given...but...

.....can someone with the clout to short 2K BTC, really be THAT wrong?

If $330 was the bottom, then he can't possibly cash out, without taking a severe tanking?

Is someone with enough financial clout to devour a 2K Ask Wall with a short Sell order, really fucking stupid enough to place a Massive Short right at the bottom of the market, or does he *know* that he will exit his position at much lower prices?

the price is dropping hard once again i think that it means that after some time it will reach huge heights