Topic: deleted - page 90. (Read 227358 times)

Quiet here, but there are much action in poloniex . We are over 3000!

Alright, too quiet around here

Doesn't affect me... but it affects a ton of people! +1

Bump...

I don’t say that I figured out what drives the price, I was at work just curious if there were some positive news that cause the Bitcoin to rise..
Bitcoins value is about ask and selling. The value is determined by perception. Instead of the trust of some government entity being evaluated to determine the value of Bitcoin, other factors (the technology, widespread acceptance, understanding of e-money, etc.) are taken into consideration. When magazines and online entities write intriguing articles about Bitcoin, people take interest in it, the demand goes up and so does its value v. government-back currencies. When people get nervous,  cause China banned the Bitcoin there will be drops in BTC's value.

These events can drive the price up:
•   Investor speculation (e.g. Hedge funds, Winklvii ETF)
•   US government announces reasonable regulations
•   Adoption by many small and medium merchants (e.g. Newegg, Starbucks, Netflix, Chicago Sun-Times) or by one major merchant (e.g. Google, Amazon, Target, Walmart, Ebay)
•   Bank advertises bitcoin support (e.g. Circle, Wells Fargo)
•   Financial crisis (e.g. Argentina, Spain, Italy, Greece)
•   Emerging bitcoin market buyup (e.g. China in November 2013)
•   China eases regulations

These events can drive the price down:
•   Governments announce strict regulations (eg US restricting fungibility, Russian ban)
•   Liquidity issues (e.g. Mt. Gox failure)
•   Illegal activities by 0.000001% of Bitcoiners followed by media smearing Bitcoin
•   51% attack (Knock it off ghash.io!)
•   Bug or flaw discovered in the Bitcoin protocol
•   Stubborn minors keep the average transaction limit at 7 transaction/sec, many transactions are left unprocessed
•   Altcoin takeover (e.g. Dogecoin charms the world)

China said they would close bankaccount, and that’s not happened…

Maybe this news did it:
http://fredw-catharsisours.blogspot.nl/2014/04/bitcoin-updates-april-16-2014-price-of.html
Or this:
http://au.ibtimes.com/articles/548311/20140416/bitcoin-atm-australia-sydney.htm#.U06tw02KCJA
Or this:
http://techstockbull.com/articles/bitcoin-breakout-alert-all-eyes-on-520-technical-resistance/
Or this:
http://dealbook.nytimes.com/2014/04/16/former-bitcoin-exchange-mt-gox-set-to-liquidate-in-absence-of-revival-plan/

And there is someone who wants to buy Mt. Gox:
http://www.coindesk.com/potential-mt-gox-buyer-exchange-important-role-bitcoins-future/

Greetz

the exchange is coinpod, will open soon.

yeah, you can see XCP！

you send pawn to a address that nobody can access this address, just like you burn your pawncoin.

but after that, you will get some epawn.

could you explain "Proof of Burn unique Algorithm" ?

If i have understood right, so its beta phase for exchange at this week end.

3: this friday
4: next friday

Phase 3: Exchange Platform == > when ? URL ?
Phase 4: Online Pawnshop == > when ? URL ?

How to easily set a fixed bottom of the price (and yes, 1$, even 5$ is possible!)

It's quite easy - tie it to something with stable price.
Poloniex recently created their own GOLD coin. With this coin you can buy real gold and it is fixed rate, 1 GOLD = 1/10 try ounce.
As you may suggest, the price is absolutely stable and is tied to GOLDs price.

How can we implement this in PAWN? We will have a pawnshop with physical goods. Devs can set a price for trading goods on the PAWNshop on fixed rate. For exmple:
Someone wants to get a loan for its TV. The TV is worth around 100 USD.
Then the pawnshop will give him 100 PAWN. On the other side, if the guy with the TV miss the deadline for returning the loan and the TV becomes property of the pawnshop, then the pawnshop will list it for sale for 100 PAWNs as well. Then, as people know they can buy a TV worth 100 USDs for 100 PAWNs, they will easily trade 1 PAWN for 1 USD on exchanges, because they know this is the real value of this currency. The market will adapt to the pawn rate as the currency is backed by a physical actives. If on the shop there is a set fixed rate on the exchnage it simply can not be different as this will create arbitrage, and arbitrages never last longer as the market adapts to a state where it deltes arbitrages value or puts it down to a minimum. This is what is doing swiss bank as well with their CHF, 40% of them are real backed by EUR or USD. So there is a bottom of the price which can not be broken.

This is the idea in brief. However, there are few things to consider to implement it in reality properly.

1. A way for the price to go up may be still present.
Pawnshop should state: it is accepting PAWNs on fixed X rate OR exchange rate, whatever is higher.

2. All that needs to be done not rapid, but gradially.
If the price goes up 100x in one day due to a fixed rate set by the exchange, all people will be happy with it and will dump their coins on the exchnage. Then they will collapse the price and it may not recover if the liquidity of the exchange is higher than the liquidity (volume of goods traded) on the pawnshop. Liquidity of the Pawnshop will be growing slowly as price should be. Look at Blackcoin. They made a clever way of pumping the price with the pool. However, after the huge pump, all traders sold their coins and even then the price collapsed. Why? Because the coin owners and the price insane fast rise were bigger than the willingness of people to use the pool. Same will happen here if the Pawnshop sets the price from the begining to insane highs. It should go this way:
- When pawnshop opens, the price on exchanges is let's say, 0.1 USD. Pawnshop set it to 0.15 or  higher rate on exchange. On the first week there are let's say 100 items traded on the pawnshop.
- On the second week, the volume of the pawnshop has grown to 300 items, and the price on exchanges has become 0.2. Then Pawnshop can set a new fixed bottom rate of 0.3 USD. And so on...
- As devs said target price is 1$ to 5$ they can set it for a target and of course all of us wants it. But remember, it just needs to be done gradually so the market can load these changes. It is principle of economic. In fact, I talked to a friend economist and shared to him my idea and he told me it is nice and it will really rise the price, but to work it should be done this way.
Also this way folks who pawn their things in the begining will be happy, because they will know they will be getting money, which will be worth much in future. In return, this will stimulate the initial demand to the pawnshop and build up fast its liquidity.

That site is difference thing than this Pawncoin. Its rival who never have launched his coin.

http://signup.pawncoin.com/

why it is not mentioned here?

Where is update SSL source?
Some folks such as me are using Linux...