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361
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Other / Off-topic / Re: Answer the question above with a question.
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on: December 26, 2014, 08:22:36 AM
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Will the BTC market continue trying through falling price
to flush out excess mining capacity ?
Did you realize that today is Christmas :p But, how can it feel like Christmas when it's over 40 o here today in northern Illinois? Did anyone else jump on reading that, before remembering that it is Fahrenheit, not Celsius? Did you know it's 70°F here in Texas? Could all the global warming fuss be for diverting attention away from the onset of a new ice age ? Wasn't it scheduled to begin on January 12, 8:23 am EST, in Mattapoisett, Massachusetts? |
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362
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: December 25, 2014, 09:57:40 PM
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http://www.businessinsider.com/warren-buffett-money-tips-for-2015-2014-12[ Warren Buffett: ] “Stay away from it. It’s a mirage, basically. … It’s a method of transmitting money. It’s a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money, too. Are checks worth a whole lot of money just because they can transmit money? Are money orders? You can transmit money by money orders. People do it. I hope Bitcoin becomes a better way of doing it, but you can replicate it a bunch of different ways and it will be. The idea that it has some huge intrinsic value is just a joke in my view.” Read more: http://www.gobankingrates.com/personal-finance/6-things-warren-buffett-says-should-money-2015/#ixzz3MwXTOAlWI don't know how Warren can identify one of the many reason bitcoin has value in the banking industry particularly and think it has no value loooool Perhaps because he figured out one key fact (in purple) right away, that bitcoiners have closed their minds to? LoL thanks Jorge for pointing out the option of alts to us. You and Warren must be on some similar wavelength of dinosaur, hope you don't end up extinct. I wouldn't mind being a dinosaur with his all his dollars to spend before going extinct. But, alas, ... |
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363
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: December 25, 2014, 09:55:30 PM
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come on guys. dump some more so the price can go down a bit more
A few months ago I saw somebody being surprised why the price did not move after the final episode of game of thrones. Maybe Christmas has got more correlation?  Edit: here it is: I was thinking that the Game of thrones finale would trigger a massive buying spree.
Epic On the other hand, I thought that saw a clear reduction of trading volume in China during one of the main World Cup soccer games earlier this year. The drop matched the 45 + 45 minutes of play fairly accurately, with some recovery during the 15 minutes of intermission. |
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364
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: December 25, 2014, 09:50:43 PM
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It shows OkCoin is the top volume exchange today, probably because the Chinese don't do Christmas. On new years day it will probably be a low volume exchange.
Chinese new year is a whole week of bank holidays later in January. The last one indeed resulted in very low volume (and low volatility) in all Chinese exchanges. Do you both know Chinese New Year is Thursday, February 19 for 2015. Thanks for the correction. It moves a lot from year to year. |
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367
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: December 25, 2014, 09:16:58 PM
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It shows OkCoin is the top volume exchange today, probably because the Chinese don't do Christmas. On new years day it will probably be a low volume exchange.
Chinese new year is a whole week of bank holidays later in January. The last one indeed resulted in very low volume (and low volatility) in all Chinese exchanges. |
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368
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Other / Off-topic / Re: Answer the question above with a question.
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on: December 25, 2014, 09:07:31 PM
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Will the BTC market continue trying through falling price
to flush out excess mining capacity ?
Did you realize that today is Christmas :p But, how can it feel like Christmas when it's over 40 o here today in northern Illinois? Did anyone else jump on reading that, before remembering that it is Fahrenheit, not Celsius? |
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370
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Bitcoin / Hardware / Re: BFL fucked us over again
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on: December 25, 2014, 05:29:04 AM
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You're gettin' hot now, bud. Now, take 18UxwNVLPo7vyRkCgs5wusUfhhbMYhApAu and scroll to very top of this page and plug it into the search box thingy and click search. Then, come back here in an hour or so to report to us if you've found anything.  Sorry, I didn't see the additions you edited into the previous post. Indeed, that address has been mentioned before. |
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371
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Bitcoin / Hardware / Re: BFL fucked us over again
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on: December 25, 2014, 05:17:18 AM
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I don't see the connection yet, but an address upstream of that one is 1SoveijppaKiA9M38 Gn7BJzRDV2TnwtW8 It could be a vanity address. "Soveij" sounds vaguely Dutch or Afrikaans, but the name seems quite rare. There is a "Soveij Marais" who is a college student in South Africa, and a couple others with barely one mention. I think we can safely assume it's a one-off address used by Josh to pay one particular obligation, albeit the G[otte]n7B[lowjobs][from]Jz is pretty funny. Indeed, going upstream there seems to be a long chain of single-use addresses often branching in twos. Until we get to a transaction back on 2013-10-15 taking ~455 BTC out of this address http://www.walletexplorer.com/address/18UxwNVLPo7vyRkCgs5wusUfhhbMYhApAuwhich belongs to this wallet http://www.walletexplorer.com/wallet/00237e09a5eed5dfwhich I have met before: it is the main wallets that receives many small outputs from mining pools (including EMC), about ~3 BTC typically, and feeds them in larger lumps to 1QAHVy |
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373
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Bitcoin / Hardware / Re: BFL fucked us over again
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on: December 25, 2014, 04:44:46 AM
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I don't see the connection yet, but an address upstream of that one is 1SoveijppaKiA9M38Gn7BJzRDV2TnwtW8 It could be a vanity address. "Soveij" sounds vaguely Dutch or Afrikaans, but the name seems quite rare. There is a "Soveij Marais" who is a college student in South Africa, and a couple others with barely one mention. |
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374
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: December 25, 2014, 12:17:54 AM
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It's a game with positive externalities [... ] the trading game in itself is negative only if we account for the monetary gain-losses, but the overall subjective value gaining by the sum of each agent involved in this game is greater than the netting of their monetary accounts (subjective value begets by an exchange needs to be greater than the objective monetary value involved in order that the said exchange happens).
Well, I agree. Besides doubling my BTC holdings every day for a year now, I learned a lot of new things from posts and links in this forum, and (believe it of not) from this thread especially. |
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375
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: December 24, 2014, 10:06:07 PM
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Trading bitcoin is a negative-sum game because of the bank and trading fees. Exchanges do not create any money or bitcoin, but they consume some of both when coins and dollars move through them or inside them. Suppose that, since 2009, all the traders, current and past, put a total of X bitcoins and Y dollars into the exchanges (both net, deposits minus withdrawals). Because of the fees, all those people together now have less than X bitcoins and less than Y dollars left in their exchange accounts. So, as a group, they lost some bitcoins and lost some money. No matter how the deposits, withdrawals, and balances have been divided among those traders, and how you measure the gains and losses, every gain that a trader made is more than offset by the losses of other traders. |
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377
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Other / Off-topic / Re: Answer the question above with a question.
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on: December 24, 2014, 03:31:40 PM
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because they are full of power ??
isn't book's power about peace and Tranquility? Have you read War and Piece? Isn't that a famous book by Leon Toastoy? Can Santa bring me a Toastoy for Christmas? If he gives you a lump of coal, would you call it a slightly overdone Toastoy? |
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