Topic: Wall Observer - MtGoxUSD wall movement tracker - page 166. (Read 1811564 times)
I just bought for $200 on Virtex.
Test to see what the logical action should be:
1. Is there a fundamental flaw in the Bitcoin protocol?
YES / NO
Action:
If YES then SELL.
If NO then HOLD.
2. Has there been any large and negative fundamental changes?
YES / NO
If YES then SELL.
If NO then BUY.
1. Is there a fundamental flaw in the Bitcoin protocol?
YES / NO
Action:
If YES then SELL.
If NO then HOLD.
2. Has there been any large and negative fundamental changes?
YES / NO
If YES then SELL.
If NO then BUY.
We need to go DEEPER .. (too lazy to link that INCEPTION image here) ...
Don't worry its just a correction, most likley miners offloading coins some profit takers, worried newbies the one thing we have all learnt is that dips are a buying opportunity because next week we are heading for $300-$350
Mtgox trading engine lag: 1103.79s
That's nearly 20 minutes!!!
That's nearly 20 minutes!!!
Gox is to blame for this, make no mistake
Those weak hands keep sneaking back in.
222, wtf? 
China @ $287, lol.
Just broke $230, still lagging like fuck.
Also these forums are under DDOS, shall we move this thread to /r/Bitcoin
Also these forums are under DDOS, shall we move this thread to /r/Bitcoin
The forum is barely surviving, with connection errors coming up someone trying another DDOS + manipulation?
BTW, you just lost 12% of your BTC wealth in 4 hours (+ whatever the mystery bids are from 20 minutes ago).
BTW, you just lost 12% of your BTC wealth in 4 hours (+ whatever the mystery bids are from 20 minutes ago).
I think this sums up the market and my brain at the moment.
Reminds me of:
Yeah Kandinsky is a fan of mine :p
Still 15 minutes lag 
The stable price is where the value created by bitcoin network is equal to the costs of running the whole network. And at least one of those two is dependent on bitcoin price. So just try to estimate those two numbers and compare them.
That is just not true. Search your feelings and you know it. Is the price of 100 dollar bill same as the cost of printing one? No it is not and it is same with Bitcoin.
Can you be more specific at what exactly is not true.
The cost of running the network is not dependent on the cost of creating early bitcoins. Those were very cheap. The cost is dependent on the current market price.
That myth is debunked here:
https://en.bitcoin.it/wiki/Myths#The_value_of_bitcoins_are_based_on_how_much_electricity_and_computing_power_it_takes_to_mine_them
Ah, yes, but I didn't say that.
I said that the cost of running the network is dependent on the market price. Let me draw it for you:
(electricity to generate) ---> bitcoin value NOT THIS ONE
bitcon price ---> cost of running the network THIS ONE
See, those two are not the same statements. Your link is debunking the fist one, quite correctly. I said the second one.
From the link:
"In fact the causality is the reverse of that (this applies to the labor theory of value in general). The cost to mine bitcoins is based on how much they are worth. If bitcoins go up in value, more people will mine (because mining is profitable), thus difficulty will go up, thus the cost of mining will go up. The inverse happens if bitcoins go down in value. These effects balance out to cause mining to always cost an amount proportional to the value of bitcoins it produces."
The "cost to mine" is probably a major part of cost of running the whole network.
I think this sums up the market and my brain at the moment.
Reminds me of:
I think this sums up the market and my brain at the moment.
Looks like a lucif chart
I think this sums up the market and my brain at the moment.
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