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1881
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: January 11, 2015, 06:07:39 PM
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Ultimately I think the only way to stop the constant crashing is if the international buyers find enough interest in bitcoin to buy a large chunk of the coins back from China.
Independently of whether the Chinese exchanges are solvent or fake or whatever, I still believe that lots of coins (at least 500 000 BTC, perhaps a couple million) went from "Western" hand to Chinese hands last November. And I also believe that those coins have been coming back to the West since then (via arbitragers), as the Chinese are gradually losing interest in "bitcoin gambling". But the Chinese day-traders still have enough coins in the exchanges to set the price. And I believe that the price has been generally dropping since then (apart from the two mini-bubbles I mentioned earlier) because there aren't enough people in the West willing to buy those coins that the Chinese want to sell -- plus the 3600 coins that are mined each day, plus the unknow number of old cheap coins that early adopters may be cashing out. This chart shows that each day about 4 million bitcoin-days are destroyed, considering only coins that have not moved in the past year. That could man people moving 11'000 coins that were not moved for 1 year, or 5500 coins that were not moved by 2 years, etc. It is hard to interpret these numbers, because "coins moving" does not mean "coins changing hands". Even so, it seems quite possible that early adopters are cashing out 1000 BTC/day. In that case, the people who are starting or increasing their BTC holdings would have to give 270'000 US$/day to those early adopters, in addition to the 1 M US$/day they must give to the miners, in order to maintain the price. |
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1882
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Other / Off-topic / Re: Answer the question above with a question.
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on: January 11, 2015, 05:22:32 PM
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will this thread be endless ?  Why would it be? Is it possible to stop the human attitude to question everything? Do you realize that this is the only thread in this forum where posters admit that they do not know everything? You mean that they know nothing ? Do you realize that in this thread only few of us are constantly active here?  Would Heraclitus say that, each time you post in it, this thread is a different thread? Who is heraclitus ? She does sounds dirty to me  Isn't Heraclitus he, not she?  Since he/she/it is no more, can we say that he/she/it still is something? |
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1884
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Other / Off-topic / Re: Answer the question above with a question.
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on: January 11, 2015, 03:10:08 PM
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will this thread be endless ? Why would it be? Is it possible to stop the human attitude to question everything? Do you realize that this is the only thread in this forum where posters admit that they do not know everything? You mean that they know nothing ? Do you realize that in this thread only few of us are constantly active here? Would Heraclitus say that, each time you post in it, this thread is a different thread? |
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1887
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: January 11, 2015, 01:19:36 PM
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showing a gif where a mans head is ripped off with the innards showing
The man in that gif was obviously willing to undergo the procedure. He was probably an undergrad student who volunteered for the test of a new cure for hangover. I am sure that he signed all the proper authorization forms. Those 25 bucks must have came in handy. |
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1888
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Other / Off-topic / Re: Answer the question above with a question.
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on: January 11, 2015, 01:08:30 PM
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will this thread be endless ? Why would it be? is it possible to stop the human attitude to question everything? Do you realize that this is the only thread in this forum where posters admit that they do not know everything? |
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1890
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: January 11, 2015, 05:36:21 AM
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None especially at the moment, but Paycoin seems interesting, perhaps it will be even more interesting than Neo & Bee. I had great hopes for Brock Pierce's RealCoin, but I have never heard of it again. I wonder if Autumn Radtke was working on one. Perhaps Sergei Mavrodi will launch something, now that he is in the Bitcoin Foundation? |
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1893
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: January 11, 2015, 04:56:29 AM
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That was a rhetorical quesiton, right? he was CEO of SecondMarket and still is CEO (or whatever) of SecondMarket's BIT fund. The frauds and crimes are the features of this "industry" that I find most entertaining. Danny Brewster story, for example, would be too ridiculously unbelievable if it was a a work of fiction. I have been following closely MtGOX, AMT miners, BFL, GAWminers, BitcoinRain, ... SecondMarket is the only bitcoin fund for which we have day-by-day investment data, thanks to the user who monitors it and maintains the thread devoted to it. Too bad that we don't have similar threads for PBP and the other funds. I don't even know how much investment PBP got. Nor GABI, Exante, ... As you may know, SM BIT has suspended withdrawals (redemptions, liquidations) since last October. With a good excuse, of course. EDIT: And I am not invested in any fund or venture related to any cryptocoin either. |
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1895
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: January 11, 2015, 02:52:29 AM
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Also if credit card and banks were so paranoid about security it would avoid many headaches for most of his customers and for themselves too
Seriously, someone explained why @theymos disabled avatars: because of a post out there showing that one can hide javascript in headers of image files. However, he must have misread that post. It said that the hacker can post an HTML page containing a tag <script src="logo.gif"></script> and put malicious javascript inside the gif file. When victims download that page,the javascript obviously gets executed. But the only bad thing about that is: if an admin is trying to analyze a malicious webpage and is looking at the javascript files it downloads, he may miss that one, because its name ends in ".gif" instead of ".js", and it can even be displayed as an image (for instance, in a previous <img src="logo.gif"/> tag). However, that risk does not exist for this forum. The forum's HTML pages are not served by the hacker, only by the bitcointalk server; and they will not have <script> tags with avatars in them, only <img> tags. To be doubly sure, the forum server could just pipe every uploaded image through a format conversion (e.g. GIF to PNG). That conversion would mangle any javascript hidden in the header, so that it would not work even if used in a <script> tag. |
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1897
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: January 11, 2015, 01:36:41 AM
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Offtopic question,
How do I chose avatar picture on this forum? I tried to put Kodrić, Karpeles or Jeff Robinson on my profile picture but it doesn't work, how do I do it?
You can't. That is one of the outstanding unsolved technical problems of bitcoin. It is one of the reasons why I am skeptical about its future. If those so-called bitcoin experts cannot even fix that…  |
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1899
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Other / Off-topic / Re: Answer the question above with a question.
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on: January 11, 2015, 01:30:58 AM
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Do i need to mine turtles to get iron ?
And how many turtles would I need per bitcoin? Should we develop turtlecoin to find out? Proof of Crawl -- do we have a winning idea there? Anyone else think this idea could swim? Do I have to come outta my shell to question the question? If sea turtles swim with their shell on, why should you do that? I thought shells were the new in style for 2015 aren't they? Should we all buy shells to wear and then protest anti-turtle Russians? VIVA LA RESISTANCE! Weren't these turtles French? Do you like turtles? It depends, do they have artillery shells? Knowing what they are up against, wouldn't you? Should we commence war on the infidels, Mr. Turtle? do we need atomic bombs in this war ? In which war? I don't know, was it about shelling peas, or shelling enemy turtles to blow them to pieces and restore peace? What type of glue will me need to peace the turtle shell back together? Why are you interested in gluing turtle's shell? maybe because he high on glue ? Is this shell game still going on? Are turtles technically 'game', like deer? |
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1900
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Other / Off-topic / Re: Answer the question above with a question.
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on: January 10, 2015, 10:21:01 PM
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Do i need to mine turtles to get iron ?
And how many turtles would I need per bitcoin? Should we develop turtlecoin to find out? Proof of Crawl -- do we have a winning idea there? Anyone else think this idea could swim? Do I have to come outta my shell to question the question? If sea turtles swim with their shell on, why should you do that? I thought shells were the new in style for 2015 aren't they? Should we all buy shells to wear and then protest anti-turtle Russians? VIVA LA RESISTANCE! Weren't these turtles French? Do you like turtles? It depends, do they have artillery shells? Knowing what they are up against, wouldn't you? Should we commence war on the infidels, Mr. Turtle? do we need atomic bombs in this war ? In which war? I don't know, was it about shelling peas, or shelling enemy turtles to blow them to pieces and restore peace? |
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