Wall Observer - MtGoxUSD wall movement tracker - page 666.

dooglus

legendary

Activity: 2940

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Quote from: Savior on February 14, 2013, 03:23:55 PM

Your bitcoins are safe even if someone gets control off 90% off the network (You would need to wait a long time before you knew the bitcoins someone just sent you were for real thought)

I think his point is the following: What if someone has been secretly building their own blockchain in parallel for the last N months. When they publish the chain some of the coins in your wallet right now would disappear, since according to the new longer (hence better) blockchain they were never mined at all.

Regular checkpoints in the reference client help avoid this being a real problem however. For instance version 0.8rc1 of the reference client has block 216116's hash hardcoded into it. So any parallel blockchain forked earlier than that block (11th Jan 2013) will never be accepted.

Hawkix

hero member

Activity: 531

Merit: 505

Reddit starts to accept BITCOIN ! .. Woooooooo Hoooooooooo ...

https://bitcointalksearch.org/topic/reddit-adds-a-bitcoin-payment-option-for-reddit-gold-144086

http://blog.reddit.com/2013/02/new-gold-payment-options-bitcoin-and.html

adamstgBit

legendary

Activity: 1904

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Trusted Bitcoiner

Quote from: ?? on ??

All i know is that ive made money in the last few days not lost it Wink

easy come easy go.

robocoin

sr. member

Activity: 252

Merit: 250

Piper67

legendary

Activity: 1106

Merit: 1001

Quote from: adamstgBit on February 14, 2013, 03:37:58 PM

Quote from: ajk on February 14, 2013, 03:35:15 PM

Quote from: mccorvic on February 14, 2013, 03:33:38 PM

Quote from: ?? on ??

its gana blow.... no doubt about it... question is how many suckers will sell their coins when the market takes a slight dip Cool

Fixed this for you btw

lololol didnt you also mention you sold on both bear traps

also my charts on almost all timeframes are pointing up, we are almost overbought in the RSI but still think we have few more before we even touch the red there

my confusion has turned to madness...

But there's method to it, Adam

adamstgBit

legendary

Activity: 1904

Merit: 1037

Trusted Bitcoiner

Quote from: ajk on February 14, 2013, 03:35:15 PM

Quote from: mccorvic on February 14, 2013, 03:33:38 PM

Quote from: ?? on ??

its gana blow.... no doubt about it... question is how many suckers will sell their coins when the market takes a slight dip Cool

Fixed this for you btw

lololol didnt you also mention you sold on both bear traps

my confusion has turned to madness...

Murderous_wabbit

newbie

Activity: 39

Merit: 0

Thanks everyone for insight. I was not so much interested in the last couple weeks rise as in the long term prognostications. I also understand that bitcoin is less than 1/2%-1/4% adoption rate with Internet users.

It does make sense to me that adoption rate would be tied to price increases and that can satisfy my "need to know why" craving for some of the very high price guesstimations.

ajk

donator

Activity: 447

Merit: 250

Quote from: mccorvic on February 14, 2013, 03:33:38 PM

Quote from: ?? on ??

its gana blow.... no doubt about it... question is how many suckers will sell their coins when the market takes a slight dip Cool

Fixed this for you btw

lololol didnt you also mention you sold on both bear traps

also my charts on almost all timeframes are pointing up, we are almost overbought in the RSI but still think we have few more before we even touch the red there

mccorvic

hero member

Activity: 518

Merit: 500

Quote from: ?? on ??

its gana blow.... no doubt about it... question is how many suckers will sell their coins when the market takes a slight dip Cool

Fixed this for you btw

ineededausername

hero member

Activity: 784

Merit: 1000

bitcoin hundred-aire

reddit hops on the bandwagon
https://bitcointalk.org/index.php?topic=144086.msg1527893;boardseen#new

Chalkbot

legendary

Activity: 896

Merit: 1001

adamstgBit

legendary

Activity: 1904

Merit: 1037

Trusted Bitcoiner

Fall BACK my bothers! lol!

humanitee

hero member

Activity: 1302

Merit: 502

Quote from: labestiol on February 14, 2013, 03:26:04 PM

New all time high in 24h volume in USD north of 3.2M$ and counting ....
Other good news, you can now buy reddit gold with bitcoins.

Finally!

See you later bears. May your little bear bodies rest in peace.

labestiol

sr. member

Activity: 434

Merit: 251

New all time high for 24h volume in USD north of 3.2M$ and counting ....
Other good news, you can now buy reddit gold with bitcoins.

Piper67

legendary

Activity: 1106

Merit: 1001

Quote from: humanitee on February 14, 2013, 03:24:18 PM

Can I get a wall pic?

a wall pic? what do you think this is, the wall tracker thread?

humanitee

hero member

Activity: 1302

Merit: 502

Can I get a wall pic?

Savior

full member

Activity: 176

Merit: 100

Quote from: adamstgBit on February 14, 2013, 02:42:59 PM

I'm saying bitcoin is more risky then people think, WAY more risky! The price right now is not reflecting the risk. because they hear people say that the protocol is more safe then banks... as long as you know how to keep your bitcoin safe you'll be fine... More then fine! which is simply not true, because of 51% attack ( which doesn't need 51% at all to work, 51% means it will work ALL the time ) as asci comes online and GPUs drop out, its the prefect conditions for the perfect storm.

This is not true at all. Maybe learn how bitcoin works before saying stuff like that, unless that is the purpose to spread fear.
Your bitcoins are safe even if someone gets control off 90% off the network (You would need to wait a long time before you knew the bitcoins someone just sent you were for real thought)

Chalkbot

legendary

Activity: 896

Merit: 1001

Quote from: Murderous_wabbit on February 14, 2013, 03:14:14 PM

Quote from: Chalkbot on February 14, 2013, 03:00:25 PM

Quote from: Murderous_wabbit on February 14, 2013, 02:48:31 PM

What makes bitcoin useful to the point that it is equated to Apple? I am confused as to why people keep putting high valuations. I can understand bitcoin price rising due to supply and demand. However, some of the numbers seem impossible to my little monkey mind. I would love for bitcoin to run up to some of the numbers suggested as I am saving some bitcoins as a store of wealth.

The usefulness is in the ability to store and transfer wealth with ease. The value of that becomes greater with a higher "market cap" as people with larger balances can take advantage of what bitcoin provides.

For example, with bitcoin at $1, it is not very useful to someone looking to store or transfer $1m, because that kind of volume would drive the price crazy high upon purchasing, and slam it into the ground upon selling, making it risky and not very practical. Someone looking to move $100 in that market would likely have no troubles whatsoever.

So, the higher the price of bitcoin goes, the more useful it becomes to more people. When you hear someone talking about $1000+ bitcoins, it is because they've made this realization and done the math to figure out what kind of bitcoin prices would HAVE to be in place to accomodate even a small percentage of trade within a major marketplace. That is not guaranteed to happen by any means, but a lot a people around here believe that's the path bitcoin is on.

Sorry if I am being obtuse, but it sounds like you are saying the price will rise because it NEEDS to rise to be more useful, which sounds like a catch 22. So what is the driving factor for the price increase? Is it just the ever increasing adoption and acceptance?

Oh, I don't mind talking about bitcoin, by all means. No, I was only trying to illustrate how the value of a bitcoin was directly linked to it's usefulness. It is not uncommon for new adopters to find talk of bitcoin being worth $1000 some day completely absurd and unfounded. Asking me why I think the value is going up RIGHT NOW is a totally different question, in my opinion. At every stage of it's growth there is going to be a different primary reason for that, right now it's probably exposure and new user adoption, but the fact that new highs (in terms of market cap) are always increasing it's value and utility remains true as well. This means a good chunk of it's growth will always be from investors, when bitcoin has reached a point where they can invest without too much market disruption.

molecular

donator

Activity: 2772

Merit: 1019

Quote from: adamstgBit on February 14, 2013, 03:10:55 PM

I'm saying bitcoin is more risky then people think, WAY more risky! The price right now is not reflecting the risk. because they hear people say that the protocol is more safe then banks... as long as you know how to keep your bitcoin safe you'll be fine... More then fine! which is simply not true, because of 51% attack ( which doesn't need 51% at all to work, 51% means it will work ALL the time ) as asci comes online and GPUs drop out, its the prefect conditions for the perfect storm.

the ASCI?


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creativex

sr. member

Activity: 434

Merit: 250

limited supply + increasing demand = price increase

Supply = 3600 BTC/day regardless of the $$$ chasing them. The math is actually rather simple.

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