All posts made by ArticMine in Bitcointalk.org's Wall Observer thread
1.
Post 1997781 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_10.55h):
stop talking about 87 or 95, support is here now, don't miss your chance
It needs to test $100, and by testing I mean, cross it. Short term I would put a limit buy order in $96-$99 range, that is the safest.
lol no. 100 will not be tested, not in 2 weeks not in 5 years.
120 support will reappear, once all you bulls are done being bearish
There is of course the possibility that we see
both 25 USD and 250000 USD per BTC within the next five years.
2.
Post 2536663 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.06h):
panic buy high sell low?
This can get very interesting when Europe wakes up as Euros can flow out of MTGox.
3.
Post 2537196 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.06h):
... there's no sense in holding fiat at MtGox...
MtGox will be at 180 in 6 business days
Or maybe some bears from Europe will show up on MTGox a lot sooner. They are likely asleep now.
4.
Post 2537255 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.06h):
... there's no sense in holding fiat at MtGox...
MtGox will be at 180 in 6 business days
Or maybe some bears from Europe will show up on MTGox a lot sooner. They are likely asleep now.
i'm not going to ask if the MtGox EUR market is sperate from the MtGox USD market, because I fear my head will explode if i do
They are not separate.
https://support.mtgox.com/entries/20800336-Multi-Currency-Trading, which is why there may be some very interesting action in a few hours.
5.
Post 2537388 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.06h):
With BitStamp trading as low as 90 USD while MTGox held at over 109 USD this is a huge spread when compared to a 2.5% exchange fee between USD and EUR
6.
Post 2537456 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.06h):
With BitStamp trading as low as 90 USD while MTGox held at over 109 USD this is a huge spread.
Theory. With USD withdrawals delayed for up to 2 weeks on gox, people who need the US dollars (and don't have an account in another major currency) are moving coins to bitstamp and carpet-bombing the bids.
Yes this is true but it also creates the opportunity to arbitrage using Euros by placing trades on the MTGox Euro market that get executed on the MTGox US dollar market effectively withdrawing the US dollars out of MTGox as Euros.
7.
Post 2537484 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.06h):
I was wondering: why would anyone set up a wall on 99.80, when there is no almost depth till 90? I'd say there might be a dumping round 2 on Bitstamp.
But it's strange. If those were goxcoins, why would they take such a high price difference? Or was cashing out via gox never intended at all and high rollers knew already, that they have to use another exchange? Well okay, they didn't buy at 114.48 and sold at 90 of course - it's something inbetween and maybe not that huge difference at all.
But it's all speculation..
I suspect a panic by weak hands holding MTGox USD not the high rollers. Hence the dump on Bitstamp.
8.
Post 2537686 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.06h):
More than a $10 USD difference between Bitstamp and Mt.Gox... I mean, I get the press release and all... but that doesn't seem like a sufficient reason. Especially for people who have a lot of USD on Mt.Gox, you'd think they would be fine with waiting a few weeks for the issue to resolve... (which I think it will)
If they believe:
1) That MtGox is in trouble and that their MTGox USD will become worthless or only a few cents on the dollar
2) That (1) above will cause the BTC / USD exchange rate to plunge.
Then it makes a lot of sense to take up to a 20% loss by buying on MTGox and then selling on BitStamp.
9.
Post 2551982 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.06h):
Looks like MtGox is losing strength.
http://blog.bitpay.com/2013/06/important-update-on-bitpay-exchange.html?oid=1039_1Thursday, June 20, 2013
Update on BitPay Exchange Rate Calculations
Effective immediately, BitPay has temporarily stopped using Mt. Gox for determining the exchange rate for our invoices.
The rate calculation that BitPay uses for each invoice is now as follows:
1. Pull the full Level II market depth, on the bid side, from multiple exchanges.
2. Merge the market depths into one Consolidated Level II table.
3. Calculate the blended clearing price for the amount of the invoice, assuming an auto-routing market sell order across all exchanges, with zero commission.
BitPay is committed to offering the fairest possible rate to the buyer, while minimizing our counterparty risk.
Which in the current market would amount to the MTGox price because
1) MtGox has the highest price by a significant margin.
2) MtGox still has the highest liquidity.
10.
Post 2771196 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.11h):
...
Truth is though, btc is not needed at all for this whole arbitrage. It can simply be done with CC's and bank acc's from Arg and one other country. This is a USD / CC forced policy arbitrage, and not something that sprung out of bitcoin. No one in Argentina can buy BTC with pesos.
Other than taking BTC across the border is likely way simpler than USD.
11.
Post 2855453 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.12h):
I'll just leave this here:
The return to normal is the first bull trap after the crash, that is what it is... remember this return to normal, fear, Despair, are the emotions the little people have.
we are back to the mean, deal with it!
Or maybe in the bear trap after the first selloff
http://bitcoincharts.com/charts/mtgoxUSD#rg60zigDailyzczsg2010-06-24zeg2011-04-03ztgSzm1g10zm2g25zxzi1gMACDzi2gRSIzvCare to go short dear bears?
12.
Post 2881682 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.12h):
Bitcoin officially a security under US law:
http://www.reuters.com/article/2013/08/06/us-court-sec-bitcoin-idUSBRE97517G20130806(Reuters) - U.S. regulators got the green light from a federal judge to proceed with their lawsuit against a Texas man accused of running a Ponzi scheme using Bitcoin, the virtual online money system.
Trendon Shavers of Bitcoin Savings & Trust had challenged the Securities and Exchange Commission's case against him, saying the regulator had no jurisdiction to sue him because the Bitcoin investments he offered are not securities or subject to any U.S. regulation.
But U.S. Magistrate Judge Amos L. Mazzant in the Eastern District of Texas ruled on Tuesday that his Bitcoin investments "meet the definition of investment contract, and as such, are securities."
Bitcoin exists through an open-source software program. It is not managed by any one company, it is not regulated by any central bank, and its supply is controlled through a computer algorithm. Users can buy bitcoins through exchanges that convert real money into the virtual currency.
The SEC warned investors against the dangers of potential scams involving virtual currencies like Bitcoin in an alert on July 23, the same day it filed the charges against Shavers.
Tuesday's ruling could have important implications for the still murky legal world surrounding digital currencies, which is not regulated by the United States.
Bitcoin has come under greater scrutiny after U.S. authorities in May seized two accounts linked to a major operator in the Bitcoin digital market.
The judge's decision could be important for Cameron and Tyler Winklevoss, the twins who became famous after alleging that Facebook Inc founder Mark Zuckerberg stole their website idea.
In early July, they applied to the SEC for approval to launch a Bitcoin-tracking exchange-traded product known as the Winklevoss Bitcoin Trust.
The SEC alleges that Shavers essentially used money from new investors in his Bitcoin endeavor to cover withdrawals by older investors and his own personal expenses.
The agency said he raised at least 700,000 bitcoins, or $4.5 million, from investors in multiple states.
Shavers had asserted that his Bitcoin investments are not securities because Bitcoin is not money, but the SEC countered that they constituted both investment contracts and notes.
"It is clear that Bitcoin can be used as money," the judge wrote. "It can be used to purchase goods or services."
Shavers could not be immediately reached for comment.
Will this have an impact on market movement?
Does that mean bitcoin itself is a security or just whatever pirate sold is a security?
It means two things:
1) Bitcoin is money
2) Pirateat40 was selling securities
1) is very significant because it is a US court ruling that Bitcoin is money. One must also keep in mind here that we have an agency of the US government arguing before the court that Bitcoin is money.
13.
Post 2902874 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.13h):
Gox is showing under 10k volume on a friday evening. wtf wtf wtf.
gox is dying
It is not just Gox. The bears on MTGox are spooked because they cannot get their USD out of MTGox while the bulls are having trouble getting their EUR into Bitstamp.
https://bitcointalk.org/index.php?topic=270716.0. On the other hand Virtex has just changed their payment processor for bill payment deposits and added a 1% fee in the process.
https://www.cavirtex.com/deposit_methods.
The spread between MTGox and Virtex is well over 10% after factoring in the CAD / USD exchange rate.
14.
Post 2905986 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.13h):
The calm before the storm. The question is: In which direction will the wind blow once the storm arrives? Bull or Bear?
15.
Post 2921777 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.13h):
$16 arb between Virtex and Gox
Virtex is going the wrong way!
Well we are Canadian's you know...someone hand me the map I'll get us turned around.
MTGox 109.5 CAD
Virtex 88.5 CAD
16.
Post 2948999 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.13h):
Gox will never resume normal withdrawals. think about it.
When it comes to USD this may well be true.
17.
Post 2949255 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.13h):
18.
Post 3001204 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.14h):
Its not the market thats poping, but everybody trying to get outta Gox asap.
There is an upward movement here quite apart from the MTGox issue. The spread with Bitstamp has tightened down to 10.6% 121.11 USD vs 108.56 USD
19.
Post 3046940 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.14h):
Only 40k coins to surpass April's peak. Lmfao, the crash following gonna be so epic. I'm revising former prediction of single digits, to double cents. Probably $0.67.
On which exchange?
20.
Post 3046952 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.14h):
Only 40k coins to surpass April's peak. Lmfao, the crash following gonna be so epic. I'm revising former prediction of single digits, to double cents. Probably $0.67.
On which exchange?
Gox. The ask depth has been steadily vaporizing. NO ONE wants fiat on Gox. We are going to rocket up like never before imo. New highs within a week. Then incredible crash.
So those holding MTGox
USD CAD will make a killing in this bear market?
Edit: Scratch MTGox USD to risky, but MTGox CAD that would be interesting.
21.
Post 3051206 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.14h):
$6000 arb between gox and virtex.........
Try getting CAD into Virtex in before the balance of that 500 BTC wall is gone. It is already down to under 150 BTC.
22.
Post 3051277 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.14h):
$6000 arb between gox and virtex.........
this is because i am currently locked out of my account at virtex... my cat killed the wire to charge my tablet and i have 2 factor Auth...
stupid cat, costing me such a good opportunity...
What kind of cable? You cannot go out and buy a replacement?
23.
Post 3053080 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.14h):
24.
Post 3091873 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.15h):
This is my favorite slide:
So the message here is (since this is the speculation forum): NSA has cracked Bitcoin, therefore one should sell.
25.
Post 3104145 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.15h):
That volume (or lack thereof)... lol.
Steadily climbing price with historically low volume is red flag for manipulation, especially in speculative markets like stocks. You can find countless examples in the arena of penny stocks.
Good job bots.
*edit*
I shouldn't give all the credit to bots. Gox preventing USD withdrawals certainly assisted the bots.
Yes falling volume is an indicator of a weakening trend (bullish or bearish); however for better or worse I do not believe we can use changes in the MTGox USD volume over the last six months alone as a market indicator without also taking into account the changes in volume in other exchanges notably Bitstamp and also the changes in volume in non USD currencies on MTGox.
26.
Post 3108069 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.15h):
Instead of Ubuntu doing Ubuntu4Android (with their cell phones), they should write their own Cell phone OS. Basically, just a scaled down Linux.
The only hope we as people have is something open.
IAS
They have it is called Ubuntu Phone.
http://www.ubuntu.com/phone however Ubuntu for Android will force the Android part to be open because of all the third party GPL v3 code in Ubuntu. A (GNU, Android or both) / Linux based phone OS, where the end user controls root will allow the end user to lock out the manufacturer and the telco and consequently any government or third party snoops. This does not affect the fundamental security of Bitcoin, other than the end user should run Bitcoin on a secure OS where the end user is the only person in control.
27.
Post 3111135 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.15h):
...
Still no walls to discuss, Gox is getting boring, I wonder how long that's going to last? Often it suddenly gets very dramatic when it's been quiet for a while. (usually when I'm not looking)
My take: A little bear that just ran out of steam.
28.
Post 3124296 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.15h):
WB to "the world's most sophisticated trading platform."
It can't even compete with NASDAQ on downtime. 3h15min against nasdaqs 3h.
NASDAQ does not even come close to what MTGox and most other Bitcoin exchanges do when it comes to uptime since the Bitcoin exchanges run 24 hours a day 365 days a year.
29.
Post 3155480 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.16h):
Charts are still not loading.
30.
Post 3273421 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.16h):
Why is camp BX so low, its uber ez to fill with USD...
exactly. and when gox finally resumes speedy withdrawals, you can expect a turbo crash. Only reason ppl buy btc these days is to get fiat off gox. THE ONLY REASON.
The sharp rise in the BTC/
JPY volume on MTGox over the last 4 months would indicate otherwise. Fiat is leaving MTGox both as JPY and EUR.
http://bitcoincharts.com/charts/mtgoxJPY#rg120ztgSzm1g10zm2g25zv
31.
Post 3285949 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.16h):
what will happen to all the bitcoins hold by people on silk road?
the Fed should open up the site so they can get everyone to withdraw their bitcoins, at least the buyer accounts
They wont. They have already seized $3.6 million USD worth of BTC according to the BBC. This translates to about 26000 BTC. The questions become how much more BTC does Mr Ulbricht aka Dread Pirate Roberts have that the US Government can seize? Furthermore what will the US Government do with all the Bitcoins they now have?
32.
Post 3296720 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.16h):
Finally! We're all Billionaires in AUS$!
WTF?
and people thought i wasn't serious when i called for infinite $ for 1 BTC by the 17th Oct 2013, early today
when will you guys accept the fact that i am never wrong?
ref:
180 by friday. infinity by the 17th
Adam may have a point as we can see a sharp spike in the BTC/USD rate over the US Debt crisis. Echo of 2011?
http://en.wikipedia.org/wiki/United_States_debt-ceiling_crisis_of_2011
33.
Post 3302025 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.17h):
They calculated that number based on the amount of transactions that occurred on SR and DPR's commission on every deal.
how do you know that???
no, they made up the numbers PURE AND SIMPLE
The 600,000 BTC and 9.5 million BTC figures come from the complaint (page 6).
http://www1.icsi.berkeley.edu/~nweaver/UlbrichtCriminalComplaint.pdf and correspond to the
gross sales and
gross commissions from SilkRoad between January 2011 and September 2013. There is a theory according to this thread
https://bitcointalk.org/index.php?topic=94675.640 that this address
https://blockchain.info/address/1933phfhK3ZgFQNLGSDXvqCn32k2buXY8a with approximately 111,111 BTC contains DPR's coins.
34.
Post 3304667 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.17h):
The action is in China
http://btckan.com/price
35.
Post 3313953 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.17h):
...
The fact that everybody knows about bitcoin now yet the volume remains pathetically low is a bad sign... Indicates both that the capitulation is yet to come and we may not recover from this one.
There is volume. One simply has to know where to look for it.
http://btckan.com/price
36.
Post 3314313 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.17h):
...
The fact that everybody knows about bitcoin now yet the volume remains pathetically low is a bad sign... Indicates both that the capitulation is yet to come and we may not recover from this one.
There is volume. One simply has to know where to look for it.
http://btckan.com/price40k volume in USD, 40k in CNY.
However, you should notice the Chinese exchanges with volume have... drum roll please... NO FEES.
Open your eyes; its fake volume.
2. Fees
The process of buying and selling Bitcoins incurs transaction fees, just like the fees you pay when trading other assets. BTC China charges a flat % fee in trading commission, and has recently eliminated deposit fees, to provide an even better value for our users.
Bold my emphasis. Just a sample as this one has an English page.
https://btcchina.com/page/aboutus#whatweoffer. Just because they have eliminated transaction fees (交易费) on deposits does not mean they have no fees.
I suspect that a trader that convinces himself or herself that the BTC trading volume in China is fake is in for a rude awakening no matter in which direction the market goes.
37.
Post 3316589 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.17h):
it's late I already had a beer so please help me understand , you really bought 5x of those at $949.95 each?day.
What the contracts were originally purchased for is not the real issue here. The more relevant question is what they are worth today. With this is mind I have two questions:
1) How long have you had these contracts?
2) What is the amount of BTC they have have produced each week that have been sent to a BTC address under your control?
PS: I would post the answers to these questions on the sales thread. Then you may see some offers.
38.
Post 3317162 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.17h):
it's late I already had a beer so please help me understand , you really bought 5x of those at $949.95 each?day.
What the contracts were originally purchased for is not the real issue here. The more relevant question is what they are worth today. With this is mind I have two questions:
1) How long have you had these contracts?
2) What is the amount of BTC they have have produced each week that have been sent to a BTC address under your control?
PS: I would post the answers to these questions on the sales thread. Then you may see some offers.
i'm totally discouraged....
1) they are September contrats
2) 0.0000000 but the status says "mining"
So you have not received a single satoshi. I can't see how to make any kind of offer here. What I will suggest is some of the suggestions at the end of this thread
https://bitcointalk.org/index.php?topic=173316.660, including going after them for a refund or suing in the UK.
39.
Post 3317344 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.17h):
mining in the cloud is going to be to only way to profitably mine pretty soon.
SURE you can buy yourself a device today, but if you don't consistently expand and keep up with new hardware, no way you will be able to compete with a cloud.
fuck that, the offer is off the table!
In depends on where you live. In warm/hot climates such as the Southern United States, Australia, India, most of Africa etc., I would definitely take the cloud, but in Canada or Russia one can very easily compete with the cloud because it gets really cold outside.
This is the reason why more often than not both Virtex and BTC-E are over run with
polar bears.
40.
Post 3332869 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.17h):
http://imgur.com/jgwRMJoThis rally is being led by CHINA... Forget US exchanges. The rules have now changed. Bitcoin will see a paradigm shift as China leads for the next few months since US regulators are creating a pain in the ass for US exchanges.
Only when we see $250 (my guess is by december), and the media starts talking about Bitcoin reaching new highs again, will US regulators capitulate and finally make it easy for americans to buy BTC.
Once we hit $1,000 -- average americans will be calling their investment advisors asking how to invest in bitcoin. Wall street will pile in.
The move from $1,000 to $100,000 will happen faster then $10 to $1,000
I would watch the psychological 1000 CNY level on the Chinese exchanges.
http://btckan.com/price
41.
Post 3344848 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.17h):
Damn adam, I feel like you're a closet bear sometimes (lol)
This is a bubble! I'm tingling with excitement!
180 is legitimately in our grasp for once. Prob crash to 135-145 before hand though.
disclaimer: I know absolutely nothing.
(also, it seems btc has only been higher than this for 5 days in its history)
i am a closet bear sometimes
bitcoin is going parabolic again,
good sign for the atl coins,
FTC is a risky bet, but tons of fun.
i have thousands of coins mauahahaha
I do not see the risk in the FTC/BTC trend-line. What I do see is a steady decline in the price of FTC in terms of BTC.
http://www.cryptocoincharts.info/period-charts.php?period=alltime&resolution=day&pair=ftc-btc&market=btc-e Now if there was a way to go short FTC long BTC it could be an interesting and possibly safe trade. Myself I am sticking with the BTC/USD pair. Long BTC short USD.
42.
Post 3380902 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.18h):
Meh, it's a little uninformed but not generally incorrect.
+1
43.
Post 3412840 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.19h):
so now its over 100K coins they have?
http://blockchain.info/address/1FfmbHfnpaZjKFvyi1okTjJJusN455paPH 144,336.39692843 BTC
http://blockchain.info/address/1F1tAaz5x1HUXrCNLbtMDqcw6o5GNn4xqX 29,657.49172471 BTC
Now the questions that remain are:
Is this the next target?
https://blockchain.info/address/1933phfhK3ZgFQNLGSDXvqCn32k2buXY8a 111,114.60035823 BTC
As there are suspicions that 1933phfhK3ZgFQNLGSDXvqCn32k2buXY8a is also related to SilkRoad / DPR
and
Would there be a "libertarian panic" over the fear that the state will suddenly dump a large amount of BTC?
44.
Post 3412927 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.19h):
Technically, if this ever became a real threat (if they had, say, 10+% of coins), consensus could be reached to just block all transactions from known Gov't public addresses... I don't see what much they could do with 2% of available coins, beyond very briefly crash the market. These actions would:
(1) Cost them $$$. They wouldn't get max dollar for liquidating their bitcoins if they just drove the price down.
(2)
It would be completely transparent to everyone! They couldn't secretly do this. Everyone in the public would know, and it'd be a PR disaster... The beauty of the Bitcoin protocol is that they can't hide what they do with these funds.
I seriously doubt that there would be anywhere close to the consensus needed to block any particular group of addresses by means of hard fork since that would destroy the fundamental economic value of Bitcoin.
Here is a thread thread that explains why this is such a terrible idea.
https://bitcointalk.org/index.php?topic=308106
45.
Post 3413014 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.19h):
Why would you block those coins? What, you only like the free market whan it does things you approve of?
I was just saying
theoretically it could be done, if a malicious entity had some absurd % of existing bitcoins. I don't generally support it, but it has been raised by others numerous times on these forums. That's all really..
I seriously doubt the US gov't would act with malicious intent with that 1%/2% of BTC because, largely, of point (2)... transparency.
I agree. I do not expect the US government to do anything crazy with the BTC; however there is enough fear and distrust of the state among the Bitcoin community that it could trigger a short term sell-off / panic. Long term this is bullish but in the very short term I would not be surprised if the bears come out of hibernation just like what happened with the initial SilkRoad closure.
46.
Post 3429600 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.19h):
EDIT: I'm not sure what the above poster meant by "about to cash out." Filing or approval in no way means Winklevii will be selling any or all of 100k coins at market the instant they are approved. They have to own the coins that the shares represent. They don't get to just sell them when ETF is approved, that makes no sense and then they wouldn't have an ETF. They hold the coins as specified in the filling. As more investors pile in they'd have to purchase more coins. Or the opposite. You get the picture.
Rigth now they personnaly hold those coins.
Once the ETF is approved, they will give them to the ETF, and in return the ETF will issue shares to them.
At that moment they will be the only ones holding shares.
Then they will sell them on the market.
Therefore, cash out.
Edit : it doesn't mean a single coin has to be sold nor move. 100% of the coins will still belong to the ETF. Only them will have a little less ETF shares and a bit more dollars.
This assumes of course that the Winklevii
choose to cash out, if they do not then the ETF will have to purchase BTC on the open market to back up the shares.
47.
Post 3467303 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.19h):
CAVirtex is now ahead of Gox
That's CAD though, of course.. not USD.
No Virtex is not ahead of MTGox at this time.
Virtex 214 CAD = 205.3 USD
MtGox 213.01 USD
Bitstamp 204.01 USD
BTCChina 1279 CNY = 210 USD
BTC-E 199.2 USD
So some but not all the polar bears have migrated from Canada to Russia.
48.
Post 3496654 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.20h):
so, I just woke up. Saw new ATH but no rocket and 25 new coins in orderbook. Where?
Could someone give me a very quick wrapup of the last 6 hours? Thread has too many pages to read.
Slow grind higher beyond ATH. No $50 a day yet, so lots of excited teenagers over nothing.
I see. And that huge wall at $273 at gox popped up around the time the ath was broken?
Just after the ATH was broken the wall popped up. Also the exchanges in China have been much more stable than MTGox and Bitstamp while all of this was happening.
49.
Post 3658355 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.27h):
Any chance of this turning southward tonight? I want to go to sleep but not sure if I should. Seems like when I go to bed the opposite happens from what I want it to do.
you need to subscribe to bit movements... when you know whats happening you can sleep
I am not so sure about the sleep part. Sometimes like today, when one is living in BC, one has to get up in the middle of the night (4:00 am) to buy BTC on Virtex when the bears wake up and become active in Central Canada.
50.
Post 3730986 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.29h):
lol at all the ltc hate
LTC is silver to BTC gold. I would expect LTC to perform over time with respect to BTC in a manner similar to that of silver with respect to gold.
51.
Post 3731052 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.29h):
just a few months ago, LTC was trading at 6 cents per litecoin.. while BTC was 100+. LTC has exponentially multiplied, probably based on speculation.. but still. i was going to buy $100 worth but got too lazy to make a purchase.. i really, really regret it now. but what can i do? life goes on. argh, i would have 1666 coins now.
LTC in terms of BTC over time.
http://www.cryptocoincharts.info/period-charts.php?period=alltime&resolution=day&pair=ltc-btc&market=btc-e
52.
Post 3731104 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.29h):
LTC is the largest threat to crypto. If it wins, everyone loses. Not even jokin' mang. It needs to crash. Not I want but we need.
If you want to see how irrational people who claim to be "rational" can be, just find yourself a litecoin user. They gain no benefit from using litecoin except providing some funding to BTC-E in ways of fees and give the public and investors a reason to be skeptical.
It used to me that we could laugh off queries about why someone couldn't just make up a new coin that would make theirs worth less. We'd laugh and say "because people aren't so stupid as to actively ruin their own investments!" Our laughter is a lot more nervous now. Turns out people are so stupid.
The only possible goal of litecoin is to make all cryptocurrency worth nothing in the long term.
I keep seeing tards asking "when will 4 LTC = 1 BTC" thinking it's inevitable because there are 4 times as many LTC. Well, what they don't seem to realize is that if this happens both LTC and BTC will be worthless because long before this becomes a reality it will be clear to everyone that bitcoin can be inflated thus invalidating the limited supply and paving way for unlimited other currencies to be included (and unlimited inflation).
I don't think this will happen though, there is very little support for LTC and other alternative currencies beyond wild speculation. Also if anything new significant comes out, bitcoiners have vested interest in adopting those features into bitcoin.
It is quite possible that LTC will do poorly with respect to BTC but very well with respect to USD. EUR, CAD etc., sort of like silver has done with respect to both gold and fiat. Now will 15.5 oz of silver ever equal 1 oz of gold again?
53.
Post 3873154 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.34h):
It's times like these that you are glad that you can read Chinese, and not have to deal with clueless English newspapers. I summarized the PBC announcement
@Is the news out of China about banks & bitcoins good or bad news?
It's excellent news for bitcoin. Essentially bitcoin exchanges in China and bitcoin itself is going to be treated as a "commodity" rather than a "currency" and therefore not going to be subject to banking and currency control regulations. The only restrictions on bitcoin exchanges is that they will be subject to the standard internet censorship rules and they will need to get the identity of all users to prevent money laundering. Existing financial institutions will not be able to trade bitcoin, but this is a great thing for entrepreneurs.
Also, more excellent news out of Hong Kong. An HK bitcoin exchange basically shutdown and stole everyone's money. This is excellent news because within days, they have been caught and are likely going to go to jail. I'm very, very optimistic about Hong Kong "leading the way" for bitcoin.
The other good news is that the Chinese government understands bitcoin. According to the notice.
Bitcoin has the following four characteristics:
1) there is no central issuing authority 2) the total amount is limited 3) it is not geographically limited for acceptance 4) it is anonymous
According to the PBC, bitcoin is not a "true" currency because
1) there is no central issuing authority 2) there is no legal requirement that anyone accept bitcoin
Bitcoin is therefore a virtual commodity, and therefore is not subject to the laws regarding currency transactions, nor should circulate as a currency.
Also here are his thoughts on the overall climate in China regarding Bitcoin:
1) The PBC has basically given the green light for bitcoin trading and exchanges. They are trying to keep bitcoin trading "separate" from the other parts of the financial system so that if bitcoin blows up, then nothing bad will happen. The thing that I think they are worried about is a Lehman style situation in which something blowing up in derivatives brings down the rest of the economy.
The strategy of creating a ring fence around new markets is a very standard one in China. Hong Kong is an entire city that is ring fenced.
2) Not terribly much. It only started to get on the radar screen a month ago.
3) The main driver is that there are tons of money in China and no one knows what to do with it all. The traditional investments (real estate and stocks) have been closed off by government action since the government has made it clear they will kill any bubble in the real estate and stock markets. So the money is going into all sorts of "non-traditional" investments. Bitcoin is just one of them.
4) Geeks. So far it's not the type of thing that random people will buy.
5) It's not very mainstream. However, its taken the Chinese geek community by storm and there are a lot of geeks in China. As with a lot of Chinese things, the fraction of people in China who are geeks is small, but a small fraction times a billion is a lot of people.
6) No harder than it is to buy anything else online.
Bitcoin has not gotten much mainstream attention and its still something that is with geeks, but you have the perfect storm of a lot of other things. The main thing is that bitcoin has hit China exactly at the time where China is looking at restructuring its entire economy and financial system to move out of low tech industries into high tech ones. It also hit China at just the right time in the credit cycle. China has recovered from the 2008 crash and is just starting to enter into another boom phase (which will last about two to three years before the economy crashes again).
http://www.reddit.com/r/Bitcoin/comments/1sbefw/chinese_investment_banker_says_what_nobody_in_the/thank you for this clarification
One very interesting aspect of all of this is that the Chinese exchanges are trading above MtGox, BTC-E and Bitstamp.
http://btckan.com/price. It appears that those who understand the language, and the culture behind this announcement are not those that are the leading bears.
54.
Post 4720041 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.58h):
I would keep a close watch on the US stock market. If the DOW and S&P keep crashing, I would not be surprised if we see BTC and other crypto currencies breaking out on the upside.
55.
Post 4720952 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.58h):
It's snowing here in southern Louisiana! It's always hotter than hell here. Expect single digits soon!
the world is ending BUY BITCOINS!!!!!!!!!!!
The world is not ending, but the bears are all over Wall Street. When the bears take over Wall Street the bulls have to go somewhere. BTC? Gold? Even US treasuries?
56.
Post 4760065 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.59h):
http://247wallst.com/investing/2014/01/23/4-stocks-that-dominated-djia-losses-on-thursday/JPMorgan Chase & Co. (NYSE: JPM) was down the most of the financial stocks in the DJIA. While this was not on direct regulatory news (for once), the drop was -2.1% and shares were at $56.35 in the closing minutes of the day. Jamie Dimon speaking to media in Davos at the World Economic Forum made no difference. ...
With the bears taking a bite out of the likes of Jamie Dimon is it really that surprising that the BTC/USD rate is going up? By the way The Goldman Sachs Group, Inc. (NYSE: GS) and Visa Inc. (NYSE: V) were also hit hard by the bears.
57.
Post 4760267 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_11.59h):
This article is silly. Really it is.
better it's shit.
If I was Chinese, I'd get as much money to the exchanges as I possibly could while there's still time. After the door shuts, bitcoin will be much harder to get, which will drive the price up.
I think FUD is a Chinese word for "opportunity".
If you were Chinese or not Chinese you could follow updates and know nothing will actually happen on the 31st. But what the heck, keep the BS flowing
December 31st and China could turn out to be sell the rumour and buy the news
58.
Post 5172601 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_12.10h):
what the fuck @ mtgox price!
I'm seriously *this* close to wire money there. The only thing keeping me from doing it is that I can't bring myself to support that incompetent piece of .... in any way.
I don't get it. It's not that unlikely for magicaltux to return the coins, is it?
What's the going rate for 1 mtgoxBTC in blockchainlBTC?
It does not make much sense because they are trading GoxBTC for GoxUSD, and magicaltux is way more likely to return BTC than USD. There is of course the explanation of market manipulation.
59.
Post 5172907 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_12.10h):
I've been trying to apply some logic to this situation and am not able to reach a rational solution except that MtSux is truly insolvent and a select few insiders know it.
So you trade GoxBTC for GoxUSD? How is that going to help in a bankruptcy?
60.
Post 5246582 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_12.13h):
The more I look at the MTGox situation the more I am convinced they are in serious financial trouble. It has all the indicators of a company delaying the inevitable. By the way I find that the market valuation of MTGoxBTC in terms of BTC currently at 0.648 at
https://bitcoinbuilder.com/ very high.
61.
Post 5247289 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_12.13h):
The more I look at the MTGox situation the more I am convinced they are in serious financial trouble. It has all the indicators of a company delaying the inevitable. By the way I find that the market valuation of MTGoxBTC in terms of BTC currently at 0.648 at
https://bitcoinbuilder.com/ very high.
So your thesis is that MtGox is not only insolvent, they have
less than 64.8% of their deposits?
One of two things is going on here: a wealthy insider
knows Gox is totally empty and is selling at any price, or people are being irrational and stupid as usual. I'm going with the latter.
I picked up 39 goxcoin at 0.54 yesterday. No concerns.
Yes. One reason is that MTGox has added payment providers recently but only for deposits and not for withdrawals.
https://www.mtgox.com/press_release_20131219.html,
https://www.mtgox.com/press_release_20131205.htmlWhen you have problems with withdrawals supposedly because of procedures at the bank, why not not add MoneyPolo for withdrawals first? As for the BTC and now even JPY withdrawals issues. The indicators are getting clearer by the day.
62.
Post 5247346 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_12.13h):
So your thesis is that MtGox is not only insolvent, they have less than 64.8% of their deposits?
In the case of shutdown by regulators and bankruptcy, where are trading account holders in the line of creditors? Legit question -- I do not know. This is assuming that customer funds are not held in trust -- obviously if Gox is insolvent, this is the case.
If Gox
did have 64.8% of deposits in such a situation, do you think trading account holders would receive 64.8% of their money? I don't.
And how many years later would they receive compensation? This is not a matter of straight probability.
One more issue here for those holding MTGox obligations denominated in BTC is that BTC could easily sky-rocket with respect to JPY while MTGox is in bankruptcy. So the BTC MTGox obligation holder may just get a few millibits on the BTC.
63.
Post 5247481 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_12.13h):
So your thesis is that MtGox is not only insolvent, they have less than 64.8% of their deposits?
In the case of shutdown by regulators and bankruptcy, where are trading account holders in the line of creditors? Legit question -- I do not know. This is assuming that customer funds are not held in trust -- obviously if Gox is insolvent, this is the case.
If Gox
did have 64.8% of deposits in such a situation, do you think trading account holders would receive 64.8% of their money? I don't.
And how many years later would they receive compensation? This is not a matter of straight probability.
One more issue here for those holding MTGox obligations denominated in BTC is that BTC could easily sky-rocket with respect to JPY while MTGox is in bankruptcy. So the BTC MTGox obligation holder may just get a few millibits on the BTC.
That implies MTGox doesn't have
any BTC holdings, which I don't think anyone believes. Their assets are frozen when they enter bankruptcy proceedings.
No. it means the receiver liquidates the BTC for JPY during the bankruptcy and then the BTC/JPY rate sky rockets. How this is handled during a bankruptcy can create a real legal mess between the creditors holding BTC claims and the creditors holding fiat claims.
64.
Post 5247646 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_12.13h):
That would seem unorthodox. Logically, all assets would be liquidated to JPY in bankruptcy. I see no reason why this would differ for BTC assets.
So my thinking is that Goxcoin holders in this situation risk being compensated years later for their Goxcoin holdings, denominated in JPY at the original liquidation price.
Precisely, which is why a BTC obligation holder could end up getting only a few milliBTC or even only a few satoshi on the BTC.
65.
Post 5247806 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_12.13h):
So your thesis is that MtGox is not only insolvent, they have less than 64.8% of their deposits?
In the case of shutdown by regulators and bankruptcy, where are trading account holders in the line of creditors? Legit question -- I do not know. This is assuming that customer funds are not held in trust -- obviously if Gox is insolvent, this is the case.
If Gox
did have 64.8% of deposits in such a situation, do you think trading account holders would receive 64.8% of their money? I don't.
And how many years later would they receive compensation? This is not a matter of straight probability.
One more issue here for those holding MTGox obligations denominated in BTC is that BTC could easily sky-rocket with respect to JPY while MTGox is in bankruptcy. So the BTC MTGox obligation holder may just get a few millibits on the BTC.
That implies MTGox doesn't have
any BTC holdings, which I don't think anyone believes. Their assets are frozen when they enter bankruptcy proceedings.
it means the receiver liquidates the BTC for JPY during the bankruptcy
Why is this any more likely to happen than the receiver immediately acting to mitigate risk of BTC/JPY rate fluctuations for all BTC obligations (via options etc)?
I'm not a bankruptcy expert but that seems like something a receiver would do immediately upon assuming control of a multinational with obligations in multiple currencies.
That would seem unorthodox. Logically, all assets would be liquidated to JPY in bankruptcy. I see no reason why this would differ for BTC assets.
So my thinking is that Goxcoin holders in this situation risk being compensated years later for their Goxcoin holdings, denominated in JPY at the original liquidation price.
What will regulators do -- pour all the BTC into Mpex?
I'm sure there's large holders that would be willing to write up some off-exchange contracts. And as for reasoning: the obvious volatility of BTC assets. I am totally unsure of precedent though, especially in Japan (I just found a PDF of a Brazilian bankruptcy proceeding where the debtors were required to be paid in the original denomination unless they indicated otherwise, but I doubt that's helpful).
In any event, this ignores the bigger logical leap I'm not following: how did MTGox end up insolvent? They certainly appear profitable. Is the theory that they were totally wiped out by tx mutability?
If they lost a significant number of BTC, creating a BTC fractional reserve,
before the BTC rise to over 1240 USD very easily. Also poorly managed companies will find all sorts of ways to bleed money.
66.
Post 5349950 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_12.18h):
I hope everyone is set up in such a way that he can continue on without Emptygox.
I am. It is called wallet.dat backed up on a 5.25in floppy disk among other places.
My floppy also survived the collapse of First Pirate Savings and Trust, later called Bitcoin Savings and Trust and the collapse of Bitcoinica among other interesting events.
If this 700K+ BTC loss turns out to be true, the bears will first have a say, then when the market figures out that those BTC are gone and consequently
cannot be sold expect the "short squeeze" to drive price of Bitcoin in terms of USD to new highs in the 4-5 figures.
67.
Post 5350096 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_12.18h):
I hope everyone is set up in such a way that he can continue on without Emptygox.
I am. It is called wallet.dat backed up on a 5.25in floppy disk among other places.
My floppy also survived the collapse of First Pirate Savings and Trust, later called Bitcoin Savings and Trust and the collapse of Bitcoinica among other interesting events.
If this 700K+ BTC loss turns out to be true, the bears will first have a say, then when the market figures out that those BTC are gone and consequently
cannot be sold expect the "short squeeze" to drive price of Bitcoin in terms of USD to new highs in the 4-5 figures.
Gox BTC can't be sold... but Gox USD exits the equation as well. No coins lost. There is no change in supply. Where does this idea come from?
Because the market has already priced with a non zero probability there are some real bitcoins in MTGox. Check for example
https://bitcoinbuilder.com/. The same phenomenon occurred with pirateat40. People were selling in fear that pirateat40 would pay resulting in a flood of bitcoins hitting the exchanges. This was in the fall of 2012 and we all know what the market did after.
68.
Post 5350474 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_12.18h):
I hope everyone is set up in such a way that he can continue on without Emptygox.
I am. It is called wallet.dat backed up on a 5.25in floppy disk among other places.
My floppy also survived the collapse of First Pirate Savings and Trust, later called Bitcoin Savings and Trust and the collapse of Bitcoinica among other interesting events.
If this 700K+ BTC loss turns out to be true, the bears will first have a say, then when the market figures out that those BTC are gone and consequently
cannot be sold expect the "short squeeze" to drive price of Bitcoin in terms of USD to new highs in the 4-5 figures.
Gox BTC can't be sold... but Gox USD exits the equation as well. No coins lost. There is no change in supply. Where does this idea come from?
Because the market has already priced with a non zero probability there are some real bitcoins in MTGox. Check for example
https://bitcoinbuilder.com/. The same phenomenon occurred with pirateat40. People were selling in fear that pirateat40 would pay resulting in a flood of bitcoins hitting the exchanges. This was in the fall of 2012 and we all know what the market did after.
but this time its not a little bitcoinworld ponzi....its real worldwideponzi which will be exposed to mainstream.....those prices could have merit only when being adopted by mainstream...now there won´t be new suckers to find in mainstream for bitcoinponzi...GTFO
The mainstream is very aware of the problems at MTGox and the market has already priced this. As for size of the ponzi,
assuming the 700K+ figure is correct, relative to the size of the Bitcoin economy it is actually comparable to pirateat40. I say hold,
not hodl. It will be a wild ride, but those who hang on will be glad they did. If one wishes to trade this bear, I would not risk more than 1-5% of BTC holdings or fiat equivalent.
69.
Post 5355959 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_12.19h):
...
I will go to my castle and occasionally post if there is something important.
I believe congratulations are in order for getting the money to pay for your castle out of MTGox.
70.
Post 6424480 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_12.40h):
No poll option for someone who is very bullish on bitcoin and very bearish on precious metals?
71.
Post 6734788 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_12.44h):
I predict a crash to $300-$350 in 7 days.
Based on the remarkable similarities in these 2 charts:
Double bottom at $2 in 2011.
Our progress so far in the bottoming process.Somebody with more visual tools could clarify and present the case. I will have to explain:
2011:
- 3 RED weeks ending with a flashcrash to $4
- 2 GREEN weeks recovery
- 4 RED weeks ending in a flashcrash to $2
- GREEN-RED-GREEN pattern in recovery
-
another flashcrash to $2.2014:
- 4 RED weeks ending with a flashcrash to $400
- 2 GREEN weeks recovery
- 4 RED weeks ending in a flashcrash to $340
- GREEN-2 REDS-GREEN pattern in recovery
-
?(to be found out in 7 days....
)
While a retest of 339.79 is certainly possible, there is one key difference here namely the multiple tests of 380 - 400 in this bear market. This parallel did not occur in 2011. So it is quite possible that 1) We see yet another test of 380 - 400 before an upward breakout or 2) we just see an upward breakout. This bear is starting to look very tried to me. By the way the fall of 2011 is when I started buying Bitcoin so the charts are good for nostalgia. I say hold / long term buy.
Edit: As for China, this is starting to look like the little boy who cried wolf, with the wolf replaced by a bit bull.
https://www.youtube.com/watch?v=RmxKWEqBN-8
72.
Post 6806314 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_12.45h):
there is no way to really calculate the total hash rate, we can only estimate based on the current difficulty and the speed at which blocks are created.
luck plays a role, and the hashrate estimate seems to be fluctuating between 65-85 peta hashes per second currently, so the blockchain data seems roughly close enough. (source =
http://bitcoin.sipa.be/ )
And yes, that is actually 65 quadrillion hashes per second. pretty impressive for an open-source beta project, don't you think?
Thanks! Yes, pretty impressive.
All my computing life I have been taught and taught students how to compute things in the most efficient way. It turns my stomach seeing that much computing power (and electrical power) wasted.
Do you people really believe that big miners will be more honest and less greedy than big bankers?
When it come to wasted computing resources I would take a very long hard look at DRM and the licensing policies of companies like Microsoft and Apple before taking a look at Bitcoin. Ever wonder why eWaste is the fastest growing environmental problem? Hint compare the price of Microsoft Windows or Microsoft Office with and without the purchase of a new computer. As for Apple one has to buy a new computer in order to run their OS X software.
73.
Post 7299158 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_12.53h):
its worth noting that well over 30K coins have been dumped on the market in the past 24hour.
not sure why people think the FBI's coins are so scary
... because it is the
US Government who is selling them.
74.
Post 7388938 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_12.53h):
I can smell a bubble from a mile away, its happening.
Yes the indicators of a bubble building are here. The US government auction could even be the trigger.
75.
Post 7389085 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_12.53h):
I can smell a bubble from a mile away, its happening.
Yes the indicators of a bubble building are here. The US government auction could even be the trigger.
Can you explain how the auction could be the trigger. I think if it is, it could get media attention and the big company that buys it uses the coins to start an exchange.
is this your thought process or did you have something else in mind?
The auction will generate a fair amount of publicity and then there is the perception of tacit approval of Bitcoin by the US government. This can have a significant influence of deep pocketed investors sitting on the sidelines. In a rising market the trigger is what the
losing not the winning bidders decide to do. This auction can easily produce a series of disappointed deep pocketed players who did not get their BTC. The question then becomes what will they do?
76.
Post 7558464 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_12.55h):
Rally time.
Where the fuck are all the bears?
?
Blitz, TERA, everyone. Where are you? Where did you go? Its so quiet in here all of a sudden.
Edit: HI-LARIOUS
Hibernation?
77.
Post 8155088 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_13.02h):
Pointing to the smartphone, Kurzweil says, devices like the iPhone are 100,000 times smaller than the computer that he used as an MIT student. "It is also several thousand times more powerful," he says. "It is a million times cheaper. That is a several billion-fold increase in price performance." Technology is being reduced at a rate of "100,000 in 3-D volume per decade," says Kurzweil. "That is another predictable exponential trajectory, so computers of this capability will be blood-cell size in 2030.
The iPhone in the above example is not more powerful because it is
crippled with DRM, a
rooted Android phone would however be several thousand times more powerful.
78.
Post 12199449 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_14.24h):
If Bitcoin survives this it will come out way stronger, there is however also a significant chance that block size issue will turn Bitcoin into a failed experiment.
quoted from ArticMine, 2013.
Thanks for the quote. All I can say is that I just finished selling the bulk of my remaining Bitcoins for a mix of 80% CAD (Canadian Dollars) and 20% XMR (Monero)
79.
Post 12199645 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_14.24h):
If Bitcoin survives this it will come out way stronger, there is however also a significant chance that block size issue will turn Bitcoin into a failed experiment.
quoted from ArticMine, 2013.
Thanks for the quote. All I can say is that I just finished selling the bulk of my remaining Bitcoins for a mix of 80% CAD (Canadian Dollars) and 20% XMR (Monero)
thanks for playing. One less weak hand.
Everyone is entitled to their opinions. To understand what prompted me in my decision I suggest reading this article
https://letstalkbitcoin.com/blog/post/confessions-of-an-r-bitcoin-moderator and the following thread
https://bitcointalk.org/index.php?topic=1157912.0. There is a serious sickness in the Bitcoin community which goes far deeper than the fear of a drop in price. The recent closure of the following thread going back to 2012 is a perfect example.
https://bitcointalk.org/index.php?topic=68655.0.
Edit: This thread has a poll. Let me guess: "CIA" is code for Gavin's proposal, in order to avoid this thread from being closed.
80.
Post 21398461 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_15.19h):
Well, it certainly beats my stash!
That's what I get for being a dabbler. However, I do make slightly more per year than 9 BTC. But with the way things have been looking lately, 9 BTC will surpass my yearly job income very soon. Yeah, I know, I'm languishing in near poverty.
I didn't mean to imply I'm any better off. But it's important to keep your composure around rich folks.
Most of the Bitcoin whales are
Lower Upper class right now.( The nouveau riche.) No need to treat them like royalty.
The story is that he lost 700000 XMR worth about 20500 XBT on his Apple laptop. I am not a fan of Apple and its EULA's but this has to be a record for a click on "I agree".
Edit: I used GNU/Linux on a laptop that I bought from a surplus government auction to make this post .
81.
Post 21398980 (copy this link) (by ArticMine) (scraped on 2020-04-04_Sat_15.19h):
...
I think the distinguishing characterisric to denote being "rich" is the source of income. Most people get their wealth through income. The rich mainly derive it from their investments. The choice of what to invest in thus affects society more than someone pulling an income.
Actually many of the rich start out by living well below their means as middle class or working class. They forgo a lot of useless consumer junk and generate surplus capital. This surplus capital allows them to take measured risks and build wealth. In many cases the secret to wealth lies in the expense rather than the income side of the ledger. People who flaunt their "wealth" by surrounding themselves with expensive consumer items are more often than not deep in debt rather than wealthy. There is a great book on this subject called The Millionaire Next Door by Thomas J. Stanley and William D. Danko. It was published in 1996.
https://en.wikipedia.org/wiki/The_Millionaire_Next_Door
