342
|
Other / Off-topic / Re: Answer the question above with a question.
|
on: December 27, 2014, 06:12:37 PM
|
If the international avoirdupois ounce is equal to 0.9722058685 English Tower ounces, the international troy ounce (or apothecaries ounce) is equal to 1.0971428571 international avoirdupois ounces, the the Maria Theresa ounce is equal to 0.9023685738 international troy ounces (or apothecaries ounces), the Spanish ounce is equal to 1.0243419271 Maria Theresa ounces, the French ounce is equal to 1.064 Spanish ounces, the Portuguese ounce is equal to 0.9378881988 French ounces, the Roman/Italian ounce is equal to 0.9550365981 Portuguese ounces, the Dutch metric ounce is equal to 3.6496350365 Roman/Italian ounces, the Chinese metric ounce is equal to 0.5 Dutch metric ounces, and the English Tower ounce is equal to 0.5832 Chinese metric ounces, how many international troy ounces is one apothecaries ounce?
|
|
|
343
|
Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
|
on: December 27, 2014, 12:13:24 PM
|
Coming from Russia I won't believe it until they have some real laws about that, not just words. Personally I don't buy it, but here you have the news. "Yes to bitcoin! Russian ministry says quasi-money ban may endanger banks, retailers" http://rt.com/news/218019-bill-ban-bitcoin-russia/I did not see any "Yes to bitcoin" in the Minister's objections. He complains that "the proposed definition lacks precision", namely it would apply also to merchant points and the like, besides its intended targets. He did not call for the bill to be rejected, but wants the ban to be limited to other things. Guess whether bitcoin would be one of those other things. Besides, the bill was requested by Putin Almighty, so it probably was motivated by security issues, not economic ones. In that case, bitcoin would surely be a target.
|
|
|
344
|
Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
|
on: December 27, 2014, 10:44:53 AM
|
What kind of business model dumps large amounts at market?
* Owner needed some money quickly * Bitcoiners made many purchases through Bitpay when price was 318$; Bitpay sees that price is 327$, sells the coins before it drops back to 318$ and below. * Private investor bought a bunch off-exchange for 320$; ditto. Probably many more...
|
|
|
349
|
Other / Off-topic / Re: Answer the question above with a question.
|
on: December 27, 2014, 02:34:08 AM
|
What is this ? is this a guy with a dice hows about to cheat ?? The guy holding the broken RNG seems vaguely familiar, who is he? and why there are no numbers on the dice ?? Perhaps because dice usually have spots on them, not numbers?
|
|
|
350
|
Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
|
on: December 27, 2014, 02:11:22 AM
|
Someone as been putting up huge bids on OKCoin - 3500 BTC each, 10 kBTC or more total - and playing around with them.
... and the Phantom Bearwhale is gone ... Perhaps some wealthy OKCoin client living in the US got excited about the BitcoinBowl commercials... but then pulled back when he realized no one was following? Oops, he still seems to be around -- but with smaller bids, 1000 BTC or so. About 7000 BTC were traded in the last 15 minutes, so he cannot have bought too much. EDIT: back with a 4000 BTC bid... EDIT2: then he puts a 3000 BTC sell order, some 20 CNY above the previous buy orders. At least he knows the basic "buy low, sell high" rule.
|
|
|
352
|
Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
|
on: December 26, 2014, 11:45:55 PM
|
Good. Fewer miners means fewer coins on the market which means higher prices.
As others observed, the miners get 25 BTC per block, irrespective of difficulty and hashrate. If hashrate drops suddenly, the block rate will fall in proportion at first, so there will be fewer blocks mined per day. However, every two weeks or so the difficulty is automaticallly adjusted so as to restore the ideal block rate of 1 every 10 minutes. At that point, the miners will start to receive ~3600 BTC per day, again. However, even after the adjustment, each of those surviving miners will get a larger share of those rewards; whereas their recurring expenses (electricity, staff, etc.) will be the same. So, if the miners are also hoarders, they may hoard a larger proportion of those 3600 coins. On the other hand, if the price keeps falling, the recurring expenses will increase when expressed in BTC. Then, even the hoarding miners will be forced to sell more of the mined BTC. TL;DR: If some miners have to close, the amount of new coins sold daily on the open market may increase, decrease, or stay about the same.
|
|
|
353
|
Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
|
on: December 26, 2014, 11:30:33 PM
|
Of special interest were predictions by Sam Cole from KnCMiner who said:
“Large financial players are entering the market this year. I am talking to some of them. If they are to become involved they need the coin to be valued at around US$2,000 to US$3,000… So I am predicting around US$2,000 to US$3,000.” Interestingly, Dr. Marco Krohn from Genesis Mining suggested the same figure of US$2,000 to US$3,000. What is it that miners know that the rest of us don’t?
Methinks that they knew what they had to say to investors, with the straightest face possible, in order to convince them to invest...
|
|
|
357
|
Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
|
on: December 26, 2014, 05:35:12 PM
|
A rational agent should take profit, no matter how trivial, when no risk is involved. So yeah, it cost [ Microsoft ] nothing & they make money.
Nothing? It cost them resources & time that could theoretically be used for more profitable ventures That would be the case if they actually accepted bitcoin. (The tax reporting and auditing hassles alone would not make it worth the trouble.) On the other hand, in order to accept dollars through Bitpay, they basically have to open a merchant's account with Bitpay, and insert some extra HTML (provided by BitPay) in their payment page. For accounting purposes, dolalrs received from BitPay are not different than any other dollar payments, and can just be added together with them. Surely you're not thinking they're making any significant profit with Bitcoin as it is right now They figured that bitcoiners are more likely than average people to spend money on video game points, so providing that option will make them more likely to do so. The maximum amount of extra sales that they could get that way is 5 billion dollars, assuming that every bitcoiner will spend all his bitcoins on MS products, and the price does not crash. Needless to say, those 5 billion dollars would actually come from the pockets of those who buy those bitcoins at the exchanges. Actually there is no limit, since those coin buyers can use those same coins to buy XBox points too, and so on. Of course not all bitcoiners will spend all their coins with MS. But even if only 1 of every 1000 coins out there is used once in 2015, that would be 5 million dollars of extra sales per year -- with practically zero investment.
|
|
|
358
|
Other / Meta / Re: Reused R values again
|
on: December 26, 2014, 04:51:51 PM
|
That risk could have been eliminated by converting every uploaded image to TIFF (say) and then to PNG. Or to PNG then to GIF. This simple solution would also have the advantage of disallowing those irritating animated avatars. EDIT: or just prohibit GIF images, why not? You haven't looked at it carefully, PNGs & JPEGs & BMPs are also affected. Not sure about TIFF. I have read more carefully now. The hack seems to be entirely dependent on the HTML page using a <script...></script> tag with the image file named as the script source. Why would the forum pages do that? If the avatar image is used only inside <img ...></img> tags, any javascript embedded in the file will never be executed. Isn't it so? The risk described there seems to be a malicious site using that trick to send javascript to the browser without using a file with ".js" extension. In that case, an investigator who is watching the files being fetched, looking for javascript code, may fail to recognize that one. In any case, image converters like ImageMagick will ignore any javascript in the hacked header (or will choke on it), and convert the pixels to a different bit encoding; so that a doubly-converted image will be safe.
|
|
|
359
|
Other / Meta / Re: Reused R values again
|
on: December 26, 2014, 12:33:18 PM
|
That risk could have been eliminated by converting every uploaded image to TIFF (say) and then to PNG. Or to PNG then to GIF. This simple solution would also have the advantage of disallowing those irritating animated avatars. EDIT: or just prohibit GIF images, why not?
|
|
|
360
|
Other / Off-topic / Re: Answer the question above with a question.
|
on: December 26, 2014, 08:43:02 AM
|
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? Is that why you so very skeptical of bitcorn longterm success. Why, isn't a new ice age supposed to be good for bitcoin?
|
|
|
|