Topic: Gold collapsing. Bitcoin UP. - page 551. (Read 2032289 times)

as peter todd already said:


i.e. tx volume metric alone means nothing

Looks to me like the transactions start 5 days ago:
https://blockchain.info/address/3MXxfNZoifLYdS8wJTpvfeDNPt9ZWuMAaN?sort=1




But what's the problem with introducing people to bitcoin via gaming microtransactions anyway?

So this is where the increase in number of tx/day comes from? Not very good indeed.

Sarutobi is ramping the volumes....    

30,000 transactions in one day!

https://blockchain.info/address/3MXxfNZoifLYdS8wJTpvfeDNPt9ZWuMAaN

Not exactly what is needed.

Edit:  the 30k is over 5 days.

No seriously. It's a brand thing. Corporations change names all the time. We can just say we are using different "apps" on the Satoshi Blockchain, but they are compatible with the 'old' Bitcoin that people used to use. You can do this overtly and then yes, you can say your client has more features, like counterparty, colored cloins, etc. Side Chains sold separately.

If you liked Bitcoin you'll love Blockcoin.  New & Improved with 100% more cryptolicious SideChains^TM!!!

Let's just stop calling it Bitcoin and really cause some cognitive dissonance.

Geezuz, they still can't get it right. No wonder there is so much confusion. Just like the Blockstream folks. Alot of people are going to keep losing alot of money;

http://www.brookings.edu/blogs/techtank/posts/2015/01/13-blockchain-innovation-kaushal

The last thing I'm doing now at these prices is coughing up BTC.  I might have finished off my early 2014 sales plan at that last $600 spikelett, but I didn't want to have my bank account shut down again.  I'm not buying, but that's mainly because I still have as many in my stash(es) as I need.  I'd consider buying again if not, but only after seeing some strong evidence that sidechains are on the way and that the Bitcoin Foundation bloatchain fork fails to materialize.  I thought the fork was looking like it might happen a year ago and it was a big factor in my deciding to sell in the quantity that I did since it is likely to permanently damage Bitcoin.

This video will give you some idea how much work has been done:

https://www.youtube.com/watch?v=NFFyMmiOSi8

to the SC proponents who insist that the 2wp will equalize fiat exchange prices across SC's thru arbitrage.

just look at the $16ish spread btwn Bitfinex and the Chinese exchanges.  and this is with open, relatively equally liquid exchanges that DON'T have a 2 day lock up.  just imagine how volatile and disparate an illiquid, insecure SC can get with manipulation.

... they're already here, they've been here since July last year. Nobody wants to hear it, Silbert was right they arrived 3-6 months after he said ... it's just that no-one likes the immediate result.

this is your problem right here.  you crave admiration which is NOT forthcoming.

I never call tops, bottoms, or prices.  The few times I've come close, I always qualify it by stating that it's just a total guess.  I said that my guesstimate of this recent bottom would be in the $250-ish range and I doubted seriously a selling opportunity very soon and hoped to get one in 2015 if we are lucky.

Some people try to call prices with idiot wave analysis and other snake oil, and plenty of others are fooled by these types.  This is no different than shamanism and witchcraft in some cultures...half the people in a society are below average after all, and it really does seem that Libertarians who are rife in this ecosystem are very primitive in their economic and strategic thought patterns and prone to be punked.  For a year now cypherdoc has been saying it's a good time to get rid of whatever one has (especially gold) and buy more BTC.  What a clown. 

I have only been active in buying or selling at two times in the last 4.5 years.  Both times I've made mention of what I am doing and why.  Many other times I have mentioned what I did and why.  I was buying in the last half of 2011 and said at the time that I was going to double-down once more at $1.60-ish if we get there IIRC.  Maybe it was $140-ish.  We didn't get there and the only exchange I had some confidence in (Tradehill) closed it's doors (and made me whole in both BTC and USD when they did.)  I was selling a not insignificant portion of my position at the end of 2013 and start of 2014.  At all other times I've been sitting on my hands.

I'm a strategic system analysis type of person.  Since I think that trading is stupid unless one is a pro (which very few people here are, and certainly not cypherdoc) I don't take very many actions and simply play my macro level system analysis.  I've been gracious enough to share my insights over the last 4.5 years.

We are at a critical juncture in Bitcoin-land where it either survives by understanding it's true potential value as a reserve currency or continues down the dead-end road to it's doom trying to be an exchange currency.  What I do with the remainder of my hoard and when depends a lot on this struggle.  The formation of Blockstream is one of the most significant things to happen in the time I've been involved with Bitcoin and it gives me a lot of hope.

The Winkelvoss COIN ETF is only a request to the SEC so far.  Approval is by no means guaranteed.

The syndicates for the USMS auctions grouped small investors who could not afford to buy 2000 BTC by themselves.  That is not Wall Street.

Pantera is a venture capital firm, that provides investments on the order of 10 million dollars to startup firms that may or may not prosper.

SecondMarket is a financial firm that specializes in non-standard instruments, such as pre-IPO equities.  Its only involvements with bitcoins were the organization of syndicates for the USMS auctions (it collected 1% fee from the second one) and the BIT fund.

SecondMarket's BIT fund is an investment fund backed by bitcoins, that is not openly traded; clients buy shares from the BIT management company (a subsidiary of SecondMarket), and can withdraw only by selling those shares back to the company.  It owns ~135'000 BTC that are in theory deposited by its clients  It has collected maybe 60 million dollars of since Sep/2013, but since the nominal price of its shares is tied to that of BTC, its assets are now worth only ~25 million USD.  Since Oct/2104 it has suspended redemptions (withdrawals).

Pantera has a similar bitcoin fund, PBP, but I don't know its numbers.  There are a few other bitcoin funds out there.  I doubt that they together got as much investment as SMBIT.

Tim Draper bought ~30'000 coins at ~600 USD/BTC, and another 2000 at ~350 USD/BTC, total ~19 million USD. 

All those amounts are small change by Wall Street standards.  One million dollars is the price of a median house in many US or European cities. 

warning for Bitcoin Bears. 

Gold looks to be weakening and is threatening to roll over:



silver has really gone nowhere and can't even get up to resistance:



if they do roll here Bears, look the hell out.

i agree

Yes, if it did not become clear, all my non-crypto assets are for sale at a discount, and they will be converted to BTC if trades happen. Or buy directly for BTC. This seems like the rational thing to do, "portfolio balancing" since the share of BTC has gone down a lot, at the same time its EV can be seen even better than before.

The last few times bitcoin wasn't profitable to mine on standard mining gear of that era @ electric cost of 0.10 USD/Kwh.  hmm  bottoms or tops?

Its starting to feel like $2 in late 2011 or $10ish in late 2012..

Back up the Truck at anything under $150.

That's fine, but it isn't what I'm talking about. Gox already proved that.