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1242
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: October 09, 2014, 05:38:16 AM
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Do you really think Andreas is just a shill? I haven't read everything he's written about bitcoin, but my past impression of him was that he was earnestly trying to educate people about Bitcoin technology. I never got the impression that he was trying to mislead anyone.
I give him credit for leaving the Shrem Karpelès & Friends Foundation (he did not go back, did he?). But his name reminds me of a slide predicting 1 BTC = 1 gazillion USD, way back in January or earlier, by the scarcity/demand formula. Is he still standing for that? |
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1245
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: October 08, 2014, 01:51:19 PM
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I mean im paying form my phone for my diner , how big possibility there is that i will double spend that  . Someone must write a phone app for that: will send out a tx to move the coins to another address, with slightly higher priority, just a second before sending out the tx that pays the bill from the emptied account... (Glad to know that Bitcoin has finally abandoned that "trustless" nonsense.   ) |
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1246
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Other / Off-topic / Re: Answer the question above with a question.
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on: October 08, 2014, 01:25:39 PM
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Why is your question even lamer than that? Why didn't you include unicorns in it?
Could unicorns, miraculously, cure the lameness of a question? Are miracles really needed to replace rigorous, scientific studies of 'lameness'? Could it be that lameness, like beauty in the eye, is in the leg of the beholder? |
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1248
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Alternate cryptocurrencies / Altcoin Discussion / Re: The Monero Free For All Thread
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on: October 08, 2014, 12:48:48 PM
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Also by Zoid announcing the decision to retain the Boolberry name, it is possible that he might have caused those who invested in the new name choices to sell.
Boolberrium, Auroolberry, Boolberrius. Compromise. . That should get that Keiser guy's attention, I suppose. |
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1249
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Bitcoin / Hardware / Re: BFL fucked us over again
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on: October 08, 2014, 11:01:32 AM
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DECLARATION OF S. JOHNSTON PURSUANT TO 28 U.S.C. § 174614. At times, we would have machines burning in for two days before shipment, in order to generate additional bitcoins. If we reached the end of the day without additional machines ready to replace them, we held back shipment to keep them burning in all night, and then would ship them the next day. When production was high, the machines were burned in for shorter periods of time.
So you all got your machines only two days late, perhaps two days and one night? What are you complaining about? |
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1254
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Other / Off-topic / Re: Answer the question above with a question.
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on: October 07, 2014, 05:37:33 AM
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Lol wut
Weren't you confused when you saw two questions asked? To check whether a phrase is grammatical one should replace a word by another with same gramatical category, and if it continues to make no sense at all then one knows for sure that the answer is, "what the hell am I doing?" You're making no sense, how does that make you feel? For example, suppose we substituted "rock" for "buffalo" in the above sentence; what would we learn from that experiment? What's the purpose of this experiment? Haven't anyone told you that we are working on a secret mission? On which mission? Do you have the need to know? Why would he not have the right to know? In what book does need = right? How to answer all these the Questions? Do you know all the answers? Isn't there a dude with all the answers, but he has opted to work at BFL to augment his Navy pension, thus treating said employment as a hobby? Given that we all know the answer to that question, why do you ask? Yet why do we bother to ask rhetorical questions? Do you really expect an answer, or was that just a rhetorical question? |
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1255
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: October 07, 2014, 04:46:42 AM
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Didn't he first put the wall up at $280, take it down for an hour or two, then put it back at $320? And it was getting nibbled at $320 too. Then it disappeared and came back at $300, where it was obviously got eaten until gone. I really don't understand why he moved it from $320 to $300 given that it was getting action at $320...*iff* he was (even poorly) rationally trying to price-maximize.
Obviously tossing up a single 30k wall doesn't make too much sense for someone who's primary objective was rationally selling that stash. But I can maybe buy the theory of an irrational/undisciplined/freaked-out holder *except* for the move from $320 to $300, since there was indeed stable action at $320.
The only fully rational motivation I can see is if he was trying to achieve a low but stable price for a period of hours during which to secure an OTC deal in the other direction. He tried $280, but it was unstably crashing the price, so he tried $320. He got good interest there with a stable price, so he decided to see if he could do better and keep things stable at $300. Price pegged right up against the wall without crashing, so he stuck with it, and priced a bigger buy deal on OTC based on a stable price of $300. ...
Who knows... Not all players are rational, so it could be anything. Whatever; even the big trades are insignificant noise in the long run.
What about this: he was afraid that the price would just keep falling if he waited too long, and decided he had to sell in a few hours at most. He asked 280, saw that there was enough demand, tried at 320, saw that it was going to take a long while, so moved to 300, and it worked well enough for his purposes. |
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1257
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Bitcoin / Hardware / Re: BFL fucked us over again
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on: October 07, 2014, 12:30:18 AM
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Does anyone want to bet that the receiver forced BFL to sell all those coins off into this purge so that they would have monies available?
Markets appear to reflect that theory. I would guess that is what happened. The receiver is still gathering BFL's bitcoins. According to the official papers, some of them were already moved to addresses that he controls. Part of his mission is to prevent the company from doing any business that could harm its chances of refunding the customers -- including the hurried sale of its assets. If the company does not have enough cash to pay all refunds (and I suppose it doesn't), then I suppose that the receiver will auction its other assets, including bitcoins. The liquidation of MtGOX is in a similar state, it seems. It is not clear whether the creditors (clients/investors) can or should be refunded in BTC, even if they would prefer it that way. With the current price swings, of 10% or more per day, clients that get paid in bitcoin may end up receiving more or less than what they were due. The standard procedure in bankruptcy liquidations seems to be: sell all non-currency assets at public auctions, and pay out in national currency only. BFL is not yet being liquidated, but I suppose that the same legal logic that guides liquidations should apply to it. |
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1258
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: October 06, 2014, 11:56:29 PM
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I agree this is true, it turned out that this was no manipulator but a mere fool who wasn't patient or experienced enough to split his selling upon multiple markets and over time, in addition to selling into a short-term highly depressed price.
We cannot say that he was a fool. The option to spread his sale over a longer period (by multiple separate offers or by posting a higher price) carried the risk of the price falling even lower. The price may be "depressed", but may also be "still overinflated". In any case, at this point, it seems that a more complicated and lengthy sell plan would have given him only 10% more than what he got. He could have netted 24 M $ by selling in January, or nearly 20 M $ by selling in June. At this point, one could say that he was a fool for not doing that. If he bought at 20$/BTC or less, he netted nearly 9 M $, with little effort and investment. He would have to be very greedy, or addicted to gambling, to feel unhappy with that result. Let's see how his buyers will fare now. |
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1260
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Other / Off-topic / Re: Answer the question above with a question.
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on: October 06, 2014, 08:02:00 PM
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Lol wut
Weren't you confused when you saw two questions asked? To check whether a phrase is grammatical one should replace a word by another with same gramatical category, and if it continues to make no sense at all then one knows for sure that the answer is, "what the hell am I doing?" You're making no sense, how does that make you feel? For example, suppose we substituted "rock" for "buffalo" in the above sentence; what would we learn from that experiment? What's the purpose of this experiment? Haven't anyone told you that we are working on a secret mission? On which mission? Do you have the need to know? Why would he not have the right to know? In what book does need = right? How to answer all these the Questions? Do you know all the answers? Isn't there a dude with all the answers, but he has opted to work at BFL to augment his Navy pension, thus treating said employment as a hobby? Given that we all know the answer to that question, why do you ask? |
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