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Topic: The rally is over (Read 3841 times)

legendary
Activity: 1106
Merit: 1001
March 14, 2013, 11:35:02 AM
#32
I think we're headed to $60+ in the near future myself.

Sounds good. Where do you speculate the $2.5+ million to do this will come from?

The same people hopping on the bandwagon again or a new influx of users?
There seems to be a pretty constant stream of new users coming from a variety of sources.  So, I think it'll come from a continuous influx of users.  Wink

There's already around 8 mil on the Gox order book.
legendary
Activity: 1400
Merit: 1005
March 14, 2013, 11:33:14 AM
#31
I think we're headed to $60+ in the near future myself.

Sounds good. Where do you speculate the $2.5+ million to do this will come from?

The same people hopping on the bandwagon again or a new influx of users?
There seems to be a pretty constant stream of new users coming from a variety of sources.  So, I think it'll come from a continuous influx of users.  Wink
sr. member
Activity: 405
Merit: 255
@_vjy
March 14, 2013, 04:42:41 AM
#30
I think, 50 USD is resistance now.
If crosses, then 40 EUR, and then 60 USD and then 50 EUR will also be kind of resistance levels..  Roll Eyes
full member
Activity: 238
Merit: 100
RMBTB.com: The secure BTC:CNY exchange. 0% fee!
March 14, 2013, 04:29:13 AM
#29
I did, very recently.

And will continue to do so if my speculation is borne out.
sr. member
Activity: 353
Merit: 250
March 14, 2013, 04:25:00 AM
#28
Got to agree that the rally is over. Was fun while it lasted but things are going to die down for a couple of months now.

We'll break $50 by next Monday, followed almost immediately with $60 by the 22nd, followed by another mini-correction back to just under $50. That's when I'll buy more.

Why don't you just buy more "under 50$" right now?
full member
Activity: 238
Merit: 100
RMBTB.com: The secure BTC:CNY exchange. 0% fee!
March 14, 2013, 03:40:51 AM
#27
Exactly... after a week with the most horrible news imaginable, the market is flirting with $48 today. And rock stable. China is back over $50 (CNY312).
legendary
Activity: 3108
Merit: 1531
yes
March 14, 2013, 03:34:24 AM
#26
This thing is unstoppable  Shocked
full member
Activity: 238
Merit: 100
RMBTB.com: The secure BTC:CNY exchange. 0% fee!
March 14, 2013, 03:26:17 AM
#25
Got to agree that the rally is over. Was fun while it lasted but things are going to die down for a couple of months now.

We'll break $50 by next Monday, followed almost immediately with $60 by the 22nd, followed by another mini-correction back to just under $50. That's when I'll buy more.
legendary
Activity: 1078
Merit: 1002
Bitcoin is new, makes sense to hodl.
March 13, 2013, 10:45:26 PM
#24
THE RALLY IS NOT OVER UNTIL I SAY IT'S OVER
legendary
Activity: 1904
Merit: 1002
March 13, 2013, 10:30:01 PM
#23
I think we're headed to $60+ in the near future myself.

Sounds good. Where do you speculate the $2.5+ million to do this will come from?

The same people hopping on the bandwagon again or a new influx of users?

Etoro
hero member
Activity: 700
Merit: 500
March 13, 2013, 08:24:17 PM
#22
I think we're headed to $60+ in the near future myself.

Sounds good. Where do you speculate the $2.5+ million to do this will come from?

The same people hopping on the bandwagon again or a new influx of users?
legendary
Activity: 1400
Merit: 1005
March 13, 2013, 05:45:16 PM
#21
I think we're headed to $60+ in the near future myself.
member
Activity: 84
Merit: 10
March 13, 2013, 05:34:28 PM
#20
Got to agree that the rally is over. Was fun while it lasted but things are going to die down for a couple of months now.

Don't think so...

I'm pretty convinced that there won't be a weekend dip.  I think the people who typically sell into the weekend's low liquidity (never could figure that one out...) already sold into the fork.  And now there's all that cash floating around at Gox.

If it goes up on the weekend, next week should be stellar.  And if next week turns out like I think it might, the fork will be forgotten by Wednesday.

We'll see though.
legendary
Activity: 960
Merit: 1028
Spurn wild goose chases. Seek that which endures.
March 13, 2013, 01:29:41 PM
#19
I may be missing something but it seems to me that when a new version is released, *nothing* it does should be considered valid until there is a high degree of confidence that it is performing as expected. Rollback to 0.7 should have been the default and anyone upgrading to 0.8 should have been made aware that should it generate problems, any output would be regarded as faulty and ignored. If the blockchain continues to match then each block is accepted as valid one at a time. If the blockchain agrees for a long enough amount of time and no issues show up, at some point (Though I know there is no central authority but surely consensus is possible) the new version is accepted as the default and should any discrepancies show up, it is the fork with the new version which is taken as valid and people running outdated versions who are regarded as invalid.
LukeJR was already doing something like this. Apparently Eligius runs two Bitcoin clients, and in the case of a contradiction between them goes with the more "mature" version.

Unfortunately it's hard to incorporate such logic into the client itself - miners have to do it manually right now.
legendary
Activity: 2576
Merit: 2267
1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k
March 13, 2013, 01:01:36 PM
#18
I may be missing something but it seems to me that when a new version is released, *nothing* it does should be considered valid until there is a high degree of confidence that it is performing as expected. Rollback to 0.7 should have been the default and anyone upgrading to 0.8 should have been made aware that should it generate problems, any output would be regarded as faulty and ignored. If the blockchain continues to match then each block is accepted as valid one at a time. If the blockchain agrees for a long enough amount of time and no issues show up, at some point (Though I know there is no central authority but surely consensus is possible) the new version is accepted as the default and should any discrepancies show up, it is the fork with the new version which is taken as valid and people running outdated versions who are regarded as invalid.

I'm not sure. Maybe it is too much centralization. But hopefully something like the above could apply going forward. Though for preference, maybe some kind of fork resistance could be built in to the protocol.
legendary
Activity: 960
Merit: 1028
Spurn wild goose chases. Seek that which endures.
March 13, 2013, 12:32:22 PM
#17
Bottom line is: any automated feature-based unit and integration testing is necessarily focussed on how the developer intends things to be, and thus will never be able to catch all the cases which arise from connecting things in unexpected and never intended ways.
That's why, ideally, you have an independent QA team - who has no expectations of what was in the developers' heads - doing the integration tests.

Of course, in a crowdfunded project like this (as compared to a start-up or corporate R&D project), an independent QA team may be an unaffordable extravagance, barring a community fundraising effort.
hero member
Activity: 602
Merit: 500
March 13, 2013, 12:08:34 PM
#16
No realistic amount of testing would have caught this weakness. It's how the community handled this situation that proves how strong it is.

A test case with a maximum size blocks made up of minimum size transactions would have caught this.  We certainly need a test case like that going forward, especially if we are going to raise the block size limit.

It's not that simple. If I recall correct, it was about using a huge number of inputs in a certain pattern, not the overall size, not the overall number of transactions. Plus it shows up only on some BerkelyDB library versions.

Bottom line is: any automated feature-based unit and integration testing is necessarily focussed on how the developer intends things to be, and thus will never be able to catch all the cases which arise from connecting things in unexpected and never intended ways.


Thus, well it is a good idea to increase the unit and integration test coverage, which is (as I understand it) rather just "average level" for the reference implementation. However, improving, developing and rehearsing mechanisms of crisis reaction is similarly important, if not even more important than test coverage. Since we will certainly encounter all the really interesting defects in real world usage, not in the testbed.
hero member
Activity: 1302
Merit: 502
March 13, 2013, 09:51:04 AM
#15
The market seems unphased and very mature. There has been plenty of opportunity to sell if you want to sell, bulls are in control now. The consensus about the bug seems to be that even though it was serious, it was handled in a very professional way which in itself increases confidence.

I just doubled down. Let's hope you're right.

Record amounts of fiat sloshing around Gox.

I think you made the right decision Wink
full member
Activity: 126
Merit: 100
March 13, 2013, 09:19:47 AM
#14
The market seems unphased and very mature. There has been plenty of opportunity to sell if you want to sell, bulls are in control now. The consensus about the bug seems to be that even though it was serious, it was handled in a very professional way which in itself increases confidence.

I just doubled down. Let's hope you're right.
legendary
Activity: 2184
Merit: 1056
Affordable Physical Bitcoins - Denarium.com
March 13, 2013, 09:01:54 AM
#13
The market seems unphased and very mature. There has been plenty of opportunity to sell if you want to sell, bulls are in control now. The consensus about the bug seems to be that even though it was serious, it was handled in a very professional way which in itself increases confidence.
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