Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 27607. (Read 26712942 times)

So basically, each time, (1) an account was created, (2) the account spent some very exact amount of USD to market-buy coins ($2,500,000 was most common), (3) a new account was created very shortly after. Repeat. In total, a staggering ~$112 million was spent to buy close to 270,000 BTC – the bulk of which was bought in November. So if you were wondering how Bitcoin suddenly appreciated in value by a factor of 10 within the span of one month, well, this is why. Not Chinese investors, not the Silkroad bust – these events may have contributed, but they certainly were not the main reason. But more on that later.

I am sure you wanted to add "without a specific controlling authority".

I think you were the one getting offended.  

I'm fully aware of LTC and bought in March 13 but times change; I was trying to share info about goings on on another exchange. You could have said, 'thanks' and left it at that rather than giving me a lecture on why your opinion is superior, no?

And?

The guy airdropped them to members of the Icelandic public (who immediately sold them)...not a great strategy but as I said a bold experiment.  Who knows the impact it will have made on cryptos overall profile.

At least the dev was doing something positive and ingenious.

Remember, knit one, pearl one.

We are slowly going up again.  Lets see if we can break 585.

Hey, you were the one who brought up the subject of volatility and making profits...comparing a new coin with CanineCoin proves nothing really.  

I'm not spruiking any alt coin simply making the point there's more volatility and bigger profits elsewhere.  

Yeah but its hard to sift through thousands of posts just a small collection with some of the best, could help you if you end up writing a master thesis of how right you were

I am holding my 1k ripples just in case mah 87 is a prophet.

I am holding my 1k ripples just in case mah 87 is a prophet.

yes, remind me about it in few weeks ok ?

AUR opened at about 0.1BTC in March and went steadily down, it was an ambitious experiment that failed.

Do you guys ever actually look at what is going on elsewhere (sometimes I think this thread is the crypto equivalent of a knitting circle)

I am sure you wanted to add "without a specific controlling authority".  For those three qualities you listed, one does not need the complexity and expense of the bitcoin protocol.  (Is that what Ripple is/was about?)

With "ownerless" thrown in, it is certainly an exciting concept.  Let's see whether it (a) can remain ownerless and (b) widely accessible without advanced hacker tricks.  Those are two of the things that I am very skeptical about.

By some accounts, paranoid maybe, Brock Pierce may be planning to "own" bitcoin, as  he practically owned the real-money market for virtual game money with his previous company (IGE). AFAIK, Bitcoin is now efectively run by a few industrial miners (not sure that is what Satoshi had in mind), and one of them (KnC) seems to have close ties to him.   In any case, the formation of a mining cartel or even a monopoly seems to be a non-negligible risk.

I don't know of any country that has banned bitcoin outright (er, what did Russia and India do, exactly?), but China and several others have banned its use in commerce and finance, and severely restricted its speculative trade.  Even the US, that otherwise seems to be bitcoin-friendly, has put many restrictions for its use in their own soil.  (A telegraphic tinfoil-hat interpretation of the US stance could be: the CIA wanted it, the NSA designed it, the FBI loved it, the IRS promptly taxed it, and the SEC said 'OK, fine, as long as American citizens are not induced to invest in it'.  ;))