and then, all of a sudden, while the best/biggest/most secure bitcoin exchange is down...
some buys on stamp.
welcome back tarmi. Wall observer was boring without your taunting the bulls.
The kind of stability that makes me cringe. How much time do i have to wait before this stupid coin gets mass adopted and me rich as a result of it ?
The price will not rise unless bitcoin becomes widely adopted.
Bitcoin will not be widely adopted unless its price stabilizes.
Hence, you need to find a way to keep the price constant while the price rises.
Don't worry. There are dozens of startups with hundreds of millions of VC capital and hundreds of smart programmers working on that problem. They will surely find a way to do that.
bullish sarcasm detected.
Must say Bitcoin being so stable is eerie.
GBTC down to $280 per btc.
good time for a Loaded smiley.
some interesting takeaways from the Digital Gold book:
- Wences Cesares had ~10% of his net worth in BTC at some point.
- Reid Hoffman, Peter Briger of fortress have significant positions.
- Ver has a market cornering amount of coin.
- Shrem was acquiring BTC for the Winklevoss Twins.
- Lot of circa 2012 businesses buffer coins were on Gox.
- Charlie Lee of LTC fame bought a chunk of Mike Hearns mined BTC when they were in Google.
some interesting takeaways from the Digital Gold book:
snipped..
Just had a plow through myself.
I think the thing that surprised me the most was the amount of buying these heavyweights did on Gox, and on the open market too.
I would've expected them to be a bit more diligent and discrete in how they obtained the coins they did.
If we guess the amount of coins some of these people bought, and it must be in the hundreds of thousands, that tells us that the price at certain points was founded on the buying of less than ten people.
Yeah, some of the price movements caused by one or a few people was mentioned in the book.
One of the Winklevii's personal bids on Gox were responsible for BTC hitting the billion dollar market cap mark.
The book also mentions that Wences had an investment in Bitpay but doesn't believe that BTC transactions have to increase for it to be valuable.
He's betting purely on its store of value property.
Buy time is running out. This is not financial advice, but the only way to ensure you end up on the right side of the upcoming fork is to have control of the coins before the fork happens. This way you ensure that your coins will be spendable on both forks.
Alternately, you could just sell everything now and wait until one fork wins. There's a chance the price might run away from you before this whole thing resolves, but there's also a chance this whole thing just collapses under the weight of all the in-fighting and bickering.
Hopefully the FUD being spread by the developers (how I love to say that!
) will subside, everybody will upgrade to some big-block version, and the fork will be uneventful, with the old branch dead at birth.
But otherwise that is good advice. If you have coins in an exchange or some other place where you don't have all the private keys, then after the fork you may be able to withdraw only the version of coins that the service owner chose to work with.
One good outcome of the block size FUD campaign is the supply of coinage that will be removed from exchanges pre-fork.