Epic bear trap this.....
That was a lot of dumping for very little gain
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 22416. (Read 26608575 times)
March 17, 2015, 05:17:47 PM
That was a lot of dumping for very little gain
March 17, 2015, 05:15:20 PM
Ive already stated that the cap is derived from the following calculation ( from main.cpp:1235)
// Subsidy is cut in half every 210,000 blocks which will occur approximately every 4 years.
nSubsidy >>= (nHeight / Params().SubsidyHalvingInterval());
Link to the file on github is
https://github.com/bitcoin/bitcoin/blob/4ad73c6b080c46808b0c53b62ab6e4074e48dc75/src/main.cpp#L1230
// Subsidy is cut in half every 210,000 blocks which will occur approximately every 4 years.
nSubsidy >>= (nHeight / Params().SubsidyHalvingInterval());
Link to the file on github is
https://github.com/bitcoin/bitcoin/blob/4ad73c6b080c46808b0c53b62ab6e4074e48dc75/src/main.cpp#L1230
There could have been no rational justification for the choice of the initial block reward and its evolution over time, nor for the maximum number of coins -- although these parameters are obviously linked. Arbitrary for arbitrary, halving the rewards at fixed intervals was chosen because it was the simplest schedule to explain and implement.
The next decision was to limit the number of atomic units (satoshis) to about 2^51 - 1 = 2'251'799'813'685'247, which is the maximum range of integers that can be safely manipulated in IEEE double-precision floating point without rouding. That would allow any bitcoin accounting to be done on an Excel spreadsheet without losing a satoshi. (Excel, and many other programs, use double-precsion floating point for all numbers, Most computer nerds would never have tought of that. They generally avoid floating-point because of its complicated rounding, and would have picked 2^63 or 2^62 instead. But Satoshi obviously was not a typical computer nerd, knew how Excel works, and knew how to use FP without rounding.)
Once fixed 2^51 a limit for the max number of satoshis in the system, Satoshi had to choose the initial block reward and the halving period. 50 BTC is not a round binary number satoshis, but it is a nice round number of BTCs. WIth that initial reward, the halving had to be every ~210'000 blocks, to keep the total number of satoshis below 2^51. It was rounded to 210'000, meaning that the total will be a little less than 21 million. If the initial reward had been set at 100 BTC/block, for example, the halving period would have had to be ~105'000 blocks, or about 2 years.
March 17, 2015, 05:14:51 PM
how's your longs doing bulls?
Farther in the green than your shorts. Much farther if you only shorted in the 290s.
you didnt lock your profits?
Some. But reloaded Friday the 13th.
It seems we are repeating a previous pattern. I'd close those shorts as close to 280 as possible if I were you. Before the weekend as well.
March 17, 2015, 05:14:10 PM
Epic bear trap this.....
March 17, 2015, 05:13:28 PM
March 17, 2015, 05:12:47 PM
how's your longs doing bulls?
Farther in the green than your shorts. Much farther if you only shorted in the 290s.
you didnt lock your profits?
good. I will make more money.
March 17, 2015, 05:11:38 PM
March 17, 2015, 05:10:30 PM
Been a rough month for the longs.
March 17, 2015, 05:09:28 PM
how's your longs doing bulls?
Farther in the green than your shorts. Much farther if you only shorted in the 290s.
March 17, 2015, 05:07:06 PM
March 17, 2015, 05:01:27 PM
It's time to bury some bulltards
March 17, 2015, 05:00:49 PM
how's your longs doing bulls?
March 17, 2015, 04:59:04 PM
March 17, 2015, 04:50:57 PM
...
Idk. Looks quite sad. He's texting to himself.
at 8:32 in the morning... Awesome!
8:20 AM? Past my bedtime.
March 17, 2015, 04:49:48 PM
I'm surprised none of the bear trolls have posted this news to try to spin it as the death blow of Bitcoin:
http://techcrunch.com/2015/03/17/facebook-pay/
So "pay" is trending I see.http://techcrunch.com/2015/03/17/facebook-pay/
Apply Pay
Facebook Pay
... what's next?
PayPalPay?
IBM Pay?
March 17, 2015, 04:48:18 PM
I'm surprised none of the bear trolls have posted this news to try to spin it as the death blow of Bitcoin:
http://techcrunch.com/2015/03/17/facebook-pay/
So "pay" is trending I see.http://techcrunch.com/2015/03/17/facebook-pay/
Apple Pay
Facebook Pay
... what's next?
PayPalPay?
IBM Pay?
March 17, 2015, 04:45:56 PM
...
Idk. Looks quite sad. He's texting to himself.
at 8:32 in the morning... Awesome!
March 17, 2015, 04:42:31 PM
http://www.otcmarkets.com/stock/GBTC/quote
I can't remember the warnings that were on the page before but it looks like it was updated a bit today and shows BIT by Greyscale and OTC Pink. I wonder when it will go live.
I can't remember the warnings that were on the page before but it looks like it was updated a bit today and shows BIT by Greyscale and OTC Pink. I wonder when it will go live.
March 17, 2015, 04:40:02 PM
...
Idk. Looks quite sad. He's texting to himself.
at 8:32 in the morning... Awesome!
March 17, 2015, 04:38:36 PM
cos that's how we all live our lives, in a perpetual state of social networked paradise...
Idk. Looks quite sad. He's texting to himself.
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