Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 23513. (Read 26713333 times)

Many people have told me that.  But "many" may be a thousand bitcoiners, perhaps, who care for the Core Values; and they may not include any big holders.  The other 99% of the bitcoin community (including the Chinese day-traders, who may still be setting the price) probably don't understad why a change in the protocol would be a bad thing, or don't care.

Note that increasing the supply of bitcoins is bad for the price only if the demand remains the same.  If there were enough new demand, increasing the supply would not prevent the price from increasing, too.

what is really weird is that there were all those reasons why bitcoin would fail (51% attack, getting outlawed, major bug, blocksize, altcoin competition, no mainstream company would take it serious, and on and on and on...

instead we got no attack at all, government regulation, microsoft/Dell/expedia, and so forth and much more... but the price collapsed and the sentiment is as if bitcoin is going to hell.

 

I never seen any evidence that Cyprus was the reason for Bitcoin to go up even 1 dollar.
And nobody in Greece is stupid enough to put their money in a highly volatile hard to use currency that has been going down for a year.

I decided to start trading again after Christmas, after losing my job just before the holiday period, I needed to make some income.  

It was a very very very bad idea.  I got 2 margin calls as I took more and more risks.  My liquidation price started at $70 but soon reached the maintenance after my capitol declined fast.  I had 50% LTC 30% BTC and the rest in $.

The second margin call came today, I kind of thought sub $266 was not going to happen and sub $170 was impossible.  liquidation was $75  
on the second call but as I only had LTC left it halved in value and the liquidation price happened at $169.

The thing is the second margin call was unavoidable.   I tried several times to log into bitfinex but the site appeared down yesterday.  I tried to login a few times but couldn't.  I searched on the forum for anyone posting finex was down, but nothing here or reddit,  It was only after thinking to use a proxy a few hours later that I could reach the site.  

I'm not saying bitfinex temporarily blocked access to my account, but for several hours it was not accessible from my home IP address. This has never happened before.  And after I logged in through a proxy it was soo slow and huge loss anyway so closing the position would have almost been the same as liquidation anyway.  

Im out of the crytpo world now, not in a position to rebuy even half a coin at present, and to be honest I have lost trust in the finex exchange.  

I'm sure some people will want to laugh at me, or point out how funny it is.  But for me it's devastating, good luck to the rest of you, I hope you all get where you need to be and the future is bright for you.

I'm sure i'm not alone in feeling the pain this week.  

Edit:  I was going to buy NuShares 2 weeks ago too.  That's a bitter pill to swallow.  Looks like it's the only thing that came out of the crash with value intact.

 

1- offensive for a brazilian to be called argentinian: just a football rivalry joke. please travel more.

2- insult hurling greatly diminishes the value of this thread. if irked by a troll to the point of losing civility, simply put it on ignore.

3- to see long-term potential in bitcoin is to come to the conclusion, already expressed in the original paper, that it is irrational for an actor or cartel to perform a 50.1% attack on the network, as it costs more to successfully carry out the attack than what can be expected to be gained by it.

4- the exception to the above is if the attacker's goal is to undermine the network irrespective of cost. however, the entities capable of doing this do not seem, so far, to consider it to be in their interest. for example, multiple USG agencies have stated their goal not to stifle innovation that stands to benefit/provide redundancies to the US economy in the long run.

a few hundred thousand -- that's quite a few coins I think. Unless you mean a few hundred thousand on leverage, which would only require an order of magnitude less in starting capital.

Bitfinex

Bitstamp

Explanation

Hash rate back up... bring on the dumping!!

And people think Bitcoiners are nutters

Good times ahead for Iceland hosted mines and power thieves.

tinfoilhat-alarm..-

I think relatively few considering the total BTC market cap. It has always been easier to destroy than to create, and with shorting possible, the incentive is there as well. I don't think these are government people or banksters. They are simple profiteers. They combine viral campaigns, trolling and possibly insider information and stolen coins to effectively amplify their impact. It's quite impressive really from a purely amoral strategic point of view.

The short answer: only a few hundred thousand coins.

Its nothing more than a fairy tale of bitcoin cultists and their megalomania, that governments or big banks (or even both) would have any needs to attack bitcoin.

The chinese government only squinted on bitcoin and the chinese started to sell trembling and shitting their pants.

The question was merely what would be the most bullish for Bitcoin. I believe the collapse of the Greek economy would most definitely be that. I would expect some to move (some of) their money to Bitcoin but the majority movement would be speculators as it was with Cyprus.

Inside Job of course

What was it according to you?

I disagree. It would damage the reputation and hence value irreparably. But there's no way to prove either way.

Again, I think you are just describing a situation where someone creates an artificial demand to create an alt coin.  Hell, I will personally create you a Bitcoin clone with a 25 million premine if you want to buy all 25 million right now.  I don't know how you will coax miners to continue to mine (i.e. validate) your personal alt coin, though.

i feel like i am at church now.