Topic: Nights Watch by Afrikoin - page 177. (Read 303310 times)

looks like a good old fashioned bitcoin triangle. Good thing we are in an uptrend.

Exactly. Double facepalmed when I read the article in the Ecocomist recently:

"Bitcoin itself may never be more than a curiosity. However blockchains have a host of other uses because they meet the need for a trustworthy record, something vital for transactions of every sort. Dozens of startups now hope to capitalise on the blockchain technology, either by doing clever things with the bitcoin blockchain or by creating new blockchains of their own (see article)."

source: http://www.economist.com/news/leaders/21677198-technology-behind-bitcoin-could-transform-how-economy-works-trust-machine

Decentralised blockchains do not persist without a proper incentive.
Blockchains that are secured by a trusted third party are not decentralised.

I do not see a separation between the blockchain (decentralised database) and its incentive (something like Bitcoin).

"" I remember an eye-opening comment on the Bitcoin dev mailing list perhaps several months ago. Someone said something like, "It's refreshing to see the BTC price mentioned in a discussion about incentive design in the software." That points to a pervasive extremely narrow view in Core dev that tends to see code in isolation, and perhaps that extends to explaining why blockchain without Bitcoin has so much superficial appeal to the uninitiated. Ignoring the economics leads to a lot of nonsense ideas. ""

https://www.reddit.com/r/Bitcoin/comments/3trnlb/bitcoin_the_currency_is_the_real_breakthrough_not/cx8pxtx

"Bit of a ramble on why I feel Bitcoin the currency is the real breakthrough, not the blockchain.

I work in the IT industry and understand data centers. One of the big challenges that leading companies in the industry face is scaling data centers. It normally takes tremendously wealthy companies such as Google and Facebook spending hundreds of millions of dollars on sophisticated ways to scale. They have had so much trouble they started the open compute project to help eachother with this problem of scaling. This relates to my point of private blockchains later on. What is crazy about Bitcoin is the currency which creates the economic incentive for someone to participate in mining. The rate at which these compute resources get distributed, scale and evolve is simply phenomenal. Whereas traditionally it took executive management planning and overseeing large custom projects to construct their data centers. Even then it is still proprietary to that company and depends on the business model of the company. (Facebook can spend 100 million on a data center in Colorado because they count on growing by billions of users, etc.) The point I am getting at is in order for a private blockchain to scale and provide the security, it takes internal resources from X company which will dramatically increase the cost of managing these compute resources. Whereas Bitcoin the currency provides a cheaper and more secure entry onto the blockchain. It is essentially outsourcing these entries more competitively when you take blockchain vs blockchain. Unless the token has value some other entity has to provide the backing of the physical infrastructure which again adds cost, is not decentralized and is less secure. Eventually these private blockchains will collapse.

One blockchain to rule them all."

https://www.reddit.com/r/Bitcoin/comments/3trnlb/bitcoin_the_currency_is_the_real_breakthrough_not/

IMF's Special Drawing Rights should go digital - China c.bank researcher

http://www.reuters.com/article/2015/11/17/china-currency-sdr-idUSL3N13C14720151117#WsyIgL2vswSsvDgq.97

I thought this article was great for bitcoin - what it implies.

After reading it, i thought to myself the probability of Bitcoin weighted into SDR basket just went up a couple of notches. These comments seem like banks talking blockchain ie warming up for a good entry at some point. same thing here.

Perhaps it is China's interest to atleast have alternative currencies thrive besides USD. Your enemy's enemy is your friend. Maybe even lobby for it to get into basket.

Sounds like he's just scared he's losing money. Eh. Alot of these startups will fail but that has nothing to do with BTC, it has to do with their crappy business models and over-anxioussness to cash in. Honey badger gives 0 fucks.

Reality Check?

Reason for a renewed downtrend bear?

Investor Terrence Yang Gives a Much-Needed Reality Check to Bitcoin Startups

http://insidebitcoins.com/news/investor-terrence-yang-gives-a-much-needed-reality-check-to-bitcoin-startups/35857

They're Coming For Your Cash

Indeed, barter of all kinds flourishes when money is scarce. It will flourish even more if governments make a serious effort to abolish cash. And of course, ending cash will only encourage the growth of digital currencies such as Bitcoin.

http://www.zerohedge.com/news/2015-11-15/theyre-coming-your-cash

OK, so this is kind of a joke of a question, but seriously, what do you think would happen if like the Shadow Government scripted for the media to headline a story with, "ISIS adopts Bitcoin as Official Currency"  

At first I thought, well that's bad press so it could go down.  But then I considered that the price might actually explode like a rocket to the upside because institutional investors would recognize the growth of economic energy that is making use of bitcoin and they would therefore pile in before the average joe figured it out for themselves!!

Bitcoin had some bad press in October of 2013 too with Silk Road.  What followed was a huge rally to $1100+
I'm thinking that the establishment was front-running the rise of Bitcoin as they probably positioned themselves into Bitcoin prior to the bust.  They could have instigated the initial flash crash to get more BTC, and then ran it up only to do the same thing in reverse.  Just a theory. It's not that I think they were responsible for the rise (as I think that's inevitable) but I think they can force it up or down earlier than it might have gone (which would distort market signals in the interim, and thus influence the price direction in the short term). Would love to hear thoughts from the community. 

Uh-Oh

 

ISIL Militants Linked To France Terrorist attacks Had A Bitcoin Address with 3 Million Dollars

http://www.newsbtc.com/2015/11/14/isil-militants-linked-to-france-terrorist-attacks-had-a-bitcoin-address-with-3-million-dollars/

from  Adam's BitMovements

https://bitcointalk.org/index.php?topic=796276.20

Traders Paradise

I underestimated the power behind the last rally, what i thought was the top turned out to be the bottom (300).  I envisioned the market taking a breath before busting above 300, but the FBI auction was only days away, market was bullish and pumpers were pumping! at about 390 I was thinking "wtf is going on?" price was really going parabolic, and so i started selling, then i found out the FBI auction was tomorrow and it all made sense, I sold more. I did pretty good! hope you did too. As i said in the "Bulls on the run" update, trading based on resistance / support lines isn't nearly as good as buy the rumor sell the news type of strategy. rumor has it the bear market is history and the bull market is in full swing.  Wink



Look at that, what a year! 300 has been strong resistance ever since the final capitulation to ~155 in Jan. now we have broken through and on high volume, record breaking volume. volume had been picking up for a few months before this breakout which i think gives validity to this move, i poked around and looked at volume on other exchanges (virtex kraken okcoin..) all of them paint a similar story in terms of volume. and the the number of TX happening on the block chain is also clearly growing ( they would be growing exponentially if it wasn't for the 1MB block limit, IMO) there can be no doubt bitcoin is doing well, of course we get Mr Manipulator taking advantage of this fact and pushing price to 500$!!! which is unsettling for some, but hey this is bitcoin, if you can't stand a free market going bananas in a state of growth, GTFO now.

I maintain my earlier speculation that trading above 300 will be relatively easy, My forecast calls for more volatile, a wider spread, and tones of confusion. I think the trading range is pretty clearly spelled out, 300 is bottom 500 is top. i see this thing bouncing around like a cheep hooker on ecstasy so all you'd have to do is be true to your trade ( whether it be buying at 390 or selling at 350+ ) and you will eventually be in profit.

Adam's prediction: >420 soon
Adam's Cheap Coins Target: 310

EMAs and MAs communicate A LOT!

Bitcoin went up to $ 504, and retraced to $ 300. Now at $ 340

Found temporary support at $ 300. Looking for upside here. Caution advised, limited upside.