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1801  Other / Off-topic / Re: Answer the question above with a question. on: August 23, 2014, 08:43:26 PM
Maybe on Toad Road, by the Liver River, just past Mill Hill?
Just past Mill Hill there is a small cabin with a large man who fills his water glass too full:
When the water is slightly over the top, but not dripping out he wonders why the water isn't spilling.
What holds the water in when it is really slightly over the top over the glass?
There is a scientific term for this, what is it?
Are you talking about Hygrophorus camarophyllus?
Is that a mushroom or a hush room?
1802  Alternate cryptocurrencies / Altcoin Discussion / Re: rpietila Altcoin Observer on: August 23, 2014, 07:59:31 PM
Satoshi realized from the beginning that full-nodes and mining would converge to industrial-scale entities. [ ... ] it doesn't destroy the value of such a system (since it will likely NOT centralize into a monopoly or oligopoly).
Why is that certain? Didin't it almost happen already with Bitcoin?
1803  Economy / Economics / Re: How profitable are exchanges? on: August 23, 2014, 07:42:43 PM
http://www.forbes.com/sites/kashmirhill/2014/06/26/bitcoin-bitstamp/

Quote
Charging trading fees ranging from .5% to .2%, Bitstamp’s founders make clear in their steady, confident way that they are making bank. Their monthly revenue at current trading volume — which is lower than usual — is between $700,000 and $900,000 USD. “We’re not the richest people in Slovenia, but we may be the richest 20-year-olds,” says Merlak.

Kind of make me wonder why there are so few exchanges spring up to compete with them if the profit is so high.

If some 20-year-olds kids can do it, surely some experience people will be able to do it too.
Good question.

Actually there are many small exchanges that are not listed on the popular charts (and many more that have folded). 

One barrier is that it takes a lot of investment, programming, and paperwork to set up an exchange with the quality and features that clients now expect.  This initial expense doe snot depend on how much volume the exchange has.  So a new exchange starts out in the red and remains so for months.

Exchanges serving the same market compete on the basis of features, quality, fees, client service, etc.  Larger exchanges can afford more staff so they can improve faster.

Finally, given a  choice between a small and a large exchange, clients will prefer the larger one, since it has more liquidity.  That is, a largish buy or sell will get a better price on the larger exchange, even if the market price starts out the same on on both.  Thus the larger exchange will tend to grow, while the smaller one will shrink.

1804  Bitcoin / Bitcoin Discussion / Re: what is the first question you would ask, if you met Satoshi Nakamoto? on: August 23, 2014, 07:28:09 PM
"Where did you get that T-shirt with such a cute Shiba puppy on it?"
1805  Other / Off-topic / Re: Answer the question above with a question. on: August 23, 2014, 07:24:40 PM
Was that a question?
Did you know that the anagram for 'a question' is 'Equations'?
Holy Moly, ain't that so!?
What's so Holy about Moly?
Isn't she is the high priestess of the Church of the Silly Rhyme?
Where's the Church of the Silly Rhyme?

Maybe on Toad Road, by the Liver River, just past Mill Hill?
1806  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 23, 2014, 07:16:11 PM
Didn't they say something about introducing fees in order to stop HFT in their joint statement? I guess they haven't come around to it yet  Smiley
As far as i know BTCCHina were the only chinese exchange that had fees in the last months, which would explain the drastic difference in volume between them and the other exchanges.
However they don´t have any fees right now (https://vip.btcchina.com/page/fee), which would explain their massive increase in volume about 10 days ago. Maybe JorgeStolfi can take over from here, he´s THE man for this topic.
Thans, but I am not vey up-to-date on that either.  The last news I recall is an interview of Jun/25 with Bobby Lee, in Chinese, where he seems to rail against leverage trading and accuses Huobi and OKCoin of having restarted HFT, backtracking on that resolution: 

https://bitcointalk.org/index.php?topic=178336.msg7510644#msg7510644
1807  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 23, 2014, 04:47:22 PM
The lack of news about Brock Pierce's Realcoin is deafening. What is he cooking?
1808  Other / Off-topic / Re: Answer the question above with a question. on: August 23, 2014, 03:04:39 PM
Was that a question?
Did you know that the anagram for 'a question' is 'Equations'?
Holy Moly, ain't that so!?
What's so Holy about Moly?
Isn't she is the high priestess of the Church of the Silly Rhyme?
1809  Other / Off-topic / Re: Answer the question above with a question. on: August 23, 2014, 12:36:59 AM
Was that a question?
Did you know that the anagram for 'a question' is 'Equations'?
Holy Moly, ain't that so!?
1810  Economy / Service Discussion / Re: MtGox withdrawal delays [Gathering] on: August 22, 2014, 11:06:55 PM
Serious question - why is Mark still alive?
Because we are not murderers.
Ah, right, you are the guys who got bullied at school and never fought back, hoping they will just get bored and "go away".
You are spineless, that's what you are.
I thought that most of MtGOX's  former clients were not particularly attracted to the idea of spending a couple decades in prison.  But there are exceptions, it seems.  Grin
1811  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 22, 2014, 09:42:58 PM
Does anyone actually believe that FUD on the Wall Observer thread can actually impact the market? 
Well, the poll counts show that there are almost 100 people reading this thread with some frequency.  If each of them were to dump 100'000 BTC, all at the same time, the prce would probably drop a bit.
1812  Economy / Service Discussion / Re: Bitstamp: No withdrawals for Bitcoin related companies on: August 22, 2014, 12:57:30 PM
Here is a Memo from Bitstamps intermediary (basically Bitcoin hate mail): http://www.reddit.com/r/Bitcoin/comments/22i768/raiffeisen_bank_international_internal_memo/
The warnings (first paragraph) are standard and all perfectly true, and the advice to stay away from bitcoin (last bullet) is good advice.   Bitcoin is a risky investment, mining is lucrative only for well-planed operations, and even experts find it difficult to protect their coins from theft.  People who do not know how computers work should not be pushed into it.

As for the ban on bitcoin-related transactions, it is an abuse of their power, but what did bitcoiners expect?  "Hi, we are your friendly bank, I understand that you want to destroy us, what can we do to help you?"
1813  Other / Off-topic / Re: Answer the question above with a question. on: August 22, 2014, 12:33:19 PM
Why do you think we needed a restart?
Why are you legendary?
His profile says he's 76 years old, isn't that enough to be legendary?
Maybe because he was the lone survivor of an epidemic of a virus that turned people into sun-sensitive zombies?
Could I say that you very creative to ask questions like this one?
Thanks, but not really, haven't you noticed that loss of habitat and pollution have nearly wiped out all species of movie monsters, except zombies and vampires?
Why weren't the zombies and vampires wiped out?
You mean to say that zombies and vampires exist?
why would anyone doubt the existence of vampires and zombies?
If zombies didn't exist, how would you explain my feeling that half of my brain is missing this morning?
Have you looked under the bed?
And why not look in the closet?
I found it at the bottom of a cup of coffee, would you believe it?
1814  Other / Off-topic / Re: Answer the question above with a question. on: August 22, 2014, 11:35:09 AM
Why do you think we needed a restart?
Why are you legendary?
His profile says he's 76 years old, isn't that enough to be legendary?
Maybe because he was the lone survivor of an epidemic of a virus that turned people into sun-sensitive zombies?
Could I say that you very creative to ask questions like this one?
Thanks, but not really, haven't you noticed that loss of habitat and pollution have nearly wiped out all species of movie monsters, except zombies and vampires?
Why weren't the zombies and vampires wiped out?
You mean to say that zombies and vampires exist?
why would anyone doubt the existence of vampires and zombies?
If zombies didn't exist, how would you explain my feeling that half of my brain is missing this morning?
1815  Other / Off-topic / Re: Answer the question above with a question. on: August 22, 2014, 10:24:36 AM
Why do you think we needed a restart?
Why are you legendary?
His profile says he's 76 years old, isn't that enough to be legendary?
Maybe because he was the lone survivor of an epidemic of a virus that turned people into sun-sensitive zombies?
Could I say that you very creative to ask questions like this one?
Thanks, but not really, haven't you noticed that loss of habitat and pollution have nearly wiped out all species of movie monsters, except zombies and vampires?
1816  Other / Off-topic / Re: Answer the question above with a question. on: August 22, 2014, 10:14:22 AM
Why do you think we needed a restart?
Why are you legendary?
His profile says he's 76 years old, isn't that enough to be legendary?
Maybe because he was the lone survivor of an epidemic of a virus that turned people into sun-sensitive zombies?
1817  Economy / Speculation / Re: Bitcoin will plummet to $10 by first half of 2014 on: August 22, 2014, 09:58:55 AM
you also shouldn't forget where gold had started its rally to 1800$/oz. If I'm not mistaken, it began climbing to the top from as low as $400 per troy ounce (or even below).
Yes.  Even at 1200$/oz, the price of gold is still unsupported by its demand for actual use.  Maybe even at 400$/oz.

Gold and diamond are such superb materials, it is a pity that they are so expensive (and kept expensive in part by cartels).  It would be so nice if they were as cheap as iron and glass...

1818  Other / Off-topic / Re: Answer the question above with a question. on: August 22, 2014, 03:44:23 AM
I think we need a restart.  I am the greatest user of bitcointalk.
Have you noticed the title of this thread, and checked the forum stats page?
1819  Other / Off-topic / Re: Answer the question above with a question. on: August 22, 2014, 03:30:53 AM
Maybe he's the Wikipede.

Why you didn't answer with a question?
Would you agree that It's Wikipede?
If it were collecting stamps, would it be a stampede?
If not stampede,than what would it be called?
Maybe we could call him wisepede, any other suggestions?
Before going into that, shouldn't we say kilopede instead of millipede, and hectopede instead of centipede?
What's a hectopede?
You don't know what's a hectopede?
Do you think we should forget about the all these 'pede' thingy's?
What will impede us of doing so?
1820  Economy / Trading Discussion / Re: Coinorama.net - BTC markets & network charts + blockchain browser on: August 22, 2014, 02:13:46 AM
Inevitable plug for
http://www.coinorama.net/
from me Cheesy
Nice site! 

However, I was confused for a while because the color key in some plots was incomplete (In the Order Book, for example, there was no key for the blue line.)   Eventually it occurred to me that the key may be clipped off, and indeed the missing patches showed up one I widened the window to the full width of my display (1680 px).

Since some people will not have that many pixels, why not display the color key only once, vertically, on the right column?  (The colors had better be the same for all plots, anyway, to make the charts easier to read.)  It would also leave more space for the plots themselves.

You may consider also allowing the user to select which exchanges are to be plotted (if there is not such a feature already), perhaps up to a certain maximum.  I would rather look at OKCoin or Huobi rather than BTC-China.

Some people will want to see more than 1 year.

Three features that I miss in BitcoinWisdom and you may want to add to beat the competition: volume in log scale (Eg. did Huobi grow exponentially since it opened?), a trade-by trade plot, like this

and the ability to plot any past epoch with 1 minute resolution (which requires entering the start date-time with keyboard -- scrolling would be too cumbersome).  Bitcoincharts has this.

Another thing that may become very popular is a merged order book depth plot.  Namely, merge the order books from all exchanges (with proper shifts and conversion factors) and then compute the cumulative sums.  I believe this makes sense, since arbitrage effectively merges all exchanges into a single market -- so that, for example, a huge bid wall in China will block a price drop at Bitstamp.

All the best, --jorge
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