Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 26882. (Read 26728347 times)
July 16, 2014, 05:23:12 AM
I am now starting to think that for the next bubble we'll need to wait until next halving - that is 2016. The halving in 2012 resulted in the 2013 two bubble summits and that is all, the grow from 340 to 680 was just a correction on the down trend and that correction is over now. Good news seem to be drying up and people start selling - when it breaks 600 that will accelerate and then at 500 bitfinex will start margin calls.
July 16, 2014, 05:17:20 AM
1k dump on Bistamp. And yet Huobi andd OKcoin seem to be leading down.
July 16, 2014, 05:08:14 AM
For anyone who doesn't follow alts, although two days ago was better, XMR is a solid buy at the moment. Some serious money going into it.
Monero looks like great new P&D coin and you are doing here just that
Thats exactly what its not due to the emmision curve etc. Im not pumpin Im saying its a solid buy due to the general trend being reversed, someone in this thread mentioned it to me months ago and thats what got me started in it so I was grateful for that. There are lots of people in XMR who don't normally buy any alts and its one of the first coins thats not based on Bitcoin. You don't have to be interested
July 16, 2014, 05:05:40 AM
Drop should start on 19h or 20th. And when Bitfinex starts executing its new rules on 21th we will have a perfect storm.
Bitfinex on the 21st doesnt mean anything. People dont have to close their open positions, its just new ones that are affected.
Really? Name 3 better than BFX.
July 16, 2014, 05:05:31 AM
Drop should start on 19h or 20th. And when Bitfinex starts executing its new rules on 21th we will have a perfect storm.
Bitfinex on the 21st doesnt mean anything. People dont have to close their open positions, its just new ones that are affected.
Well, if it was actually going to happen (all positions closed) it would be a fairly substantial sell off, just look at the longs on fenix, so we shoudl care. The point is it doesn't matter because it doesn't effect current positions.
July 16, 2014, 05:05:01 AM
For anyone who doesn't follow alts, although two days ago was better, XMR is a solid buy at the moment. Some serious money going into it.
Monero looks like great new P&D coin and you are doing here just that
July 16, 2014, 05:04:11 AM
Drop should start on 19h or 20th. And when Bitfinex starts executing its new rules on 21th we will have a perfect storm.
Bitfinex on the 21st doesnt mean anything. People dont have to close their open positions, its just new ones that are affected.
July 16, 2014, 05:02:52 AM
Drop should start on 19h or 20th. And when Bitfinex starts executing its new rules on 21th we will have a perfect storm.
Bitfinex on the 21st doesnt mean anything. People dont have to close their open positions, its just new ones that are affected.
July 16, 2014, 05:01:36 AM
For anyone who doesn't follow alts, although two days ago was better, XMR is a solid buy at the moment. Some serious money going into it.
July 16, 2014, 05:00:17 AM
July 16, 2014, 04:57:21 AM
good. somebody will dump sooner then later.
houbi, btc-e bearish, ltc going down again. I sense a perfect dump storm.
houbi, btc-e bearish, ltc going down again. I sense a perfect dump storm.
Also low volume is big problem, all sign showing for downside.
July 16, 2014, 04:45:14 AM
good. somebody will dump sooner then later.
houbi, btc-e bearish, ltc going down again. I sense a perfect dump storm.
houbi, btc-e bearish, ltc going down again. I sense a perfect dump storm.
July 16, 2014, 04:33:02 AM
Bid side at stamp looking healthy.
July 16, 2014, 04:27:57 AM
Ooh.
This will be interesting to keep an eye on.
http://www.forexminute.com/bitcoin/rakuten-ceo-does-not-rule-out-bitcoin-acceptance-in-the-future-38563
This will be interesting to keep an eye on.
http://www.forexminute.com/bitcoin/rakuten-ceo-does-not-rule-out-bitcoin-acceptance-in-the-future-38563
July 16, 2014, 04:14:55 AM
The value is what the economy gives it, but the cost is the energy. They close because the competition between miners pushes cost to the value (and for some unlucky miners - beyond it).
Exactly. The point is that if bitcoin crashed say to 1 cent then obviously the energy expenditure for mining new bitcoins will adapt to reflect that.
You can't say bitcoin is backed by energy because throwing more energy at the system will not necessarily increase its value.
I think it is a dead end to try to argue PoW superiority through energy expenditure.
It is used because the method is extremely solid for reaching probabilistic consensus with anonymous participants.
PoW is a means to an end just like the blockchain is. It should not be seen as something magical and be worshipped. It is a solid piece of engineering for a specific problem.
July 16, 2014, 04:00:33 AM
July 16, 2014, 03:34:37 AM
Bitcoin is backed by energy. Its Proof of Work requirement is essentially a proof of expenditure of energy. You cannot spend a unit of energy more than once. You can spend it on mining Bitcoin, mining another PoW coin, or something else like running your household. Energy is a commodity that has a price, and it cannot be counterfeited.
Now Proof of Stake coins... that's another topic. There's nothing backing those. You can hold an infinite number of different PoS coins. Inflation through diversification into new PoS coins will ultimately destroy purely PoS coins.
Bitcoin is not backed by energy, rather the way the blockchain reaches consensus through PoW is. This may seem like nitpicking but it is an important difference.
Bitcoins mined at difficulty 1 are worth exactly as much as those mined now. You can subscribe to the idea that the cost of mining dictates the value of bitcoin but I won't.
The value of a bitcoin is what the economy gives it. Bitcoin works and will work once no more block rewards are given out as long as enough miners mine for tx fees.
By your logic those miners will also dictate the price of bitcoin allthough the energy expenditure will most likely be less than it is today.
July 16, 2014, 03:12:59 AM
Bitcoin is backed by energy. Its Proof of Work requirement is essentially a proof of expenditure of energy. You cannot spend a unit of energy more than once. You can spend it on mining Bitcoin, mining another PoW coin, or something else like running your household. Energy is a commodity that has a price, and it cannot be counterfeited.
Now Proof of Stake coins... that's another topic. There's nothing backing those. You can hold an infinite number of different PoS coins. Inflation through diversification into new PoS coins will ultimately destroy purely PoS coins.
Bitcoin is not backed by energy, rather the way the blockchain reaches consensus through PoW is. This may seem like nitpicking but it is an important difference.
Bitcoins mined at difficulty 1 are worth exactly as much as those mined now. You can subscribe to the idea that the cost of mining dictates the value of bitcoin but I won't.
The value of a bitcoin is what the economy gives it. Bitcoin works and will work once no more block rewards are given out as long as enough miners mine for tx fees.
By your logic those miners will also dictate the price of bitcoin allthough the energy expenditure will most likely be less than it is today.
July 16, 2014, 03:05:14 AM
What's up with that volume? We are really near 0 at bitstamp 
July 16, 2014, 03:00:17 AM
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