I'm still sticking with Litecoin. I hope I'm right about it. I may be wrong, and everything just goes to Bitcoin.
:(
Litecoin is still almost double from where I purchased it at least.
Printable View
I'm still sticking with Litecoin. I hope I'm right about it. I may be wrong, and everything just goes to Bitcoin.
:(
Litecoin is still almost double from where I purchased it at least.
Hmmm hedge funds for bitcoins, sounds like a fractional reserve paper market getting started, recommended by Max Keiserstein... 10:1 ratio? Not a bad deal for them. Selling fake bitcoins for $250, to the public, crashing the market with a coordinated smack down and media campaign. They will make a killing!Quote:
Originally Posted by vacuum
That sounds a bit scary?Quote:
They aren't ballsy enough to risk doing it themselves because if you miss-type a single character of your bitcoin address you permanently lose everything.
This isn't as scary as it sounds:Quote:
Originally Posted by Neuro
from https://en.bitcoin.it/wiki/AddressQuote:
Most Bitcoin addresses are 34 characters. They consist of random digits and uppercase and lowercase letters, with the exception that the uppercase letter "O", uppercase letter "I", lowercase letter "l", and the number "0" are never used to prevent visual ambiguity.
Some Bitcoin addresses can be shorter than 34 characters (as few as 27 in theory) and still be valid. A significant percentage of Bitcoin addresses are only 33 characters, and some addresses may be even shorter. Every Bitcoin address stands for a number - somewhat like an account number. These shorter addresses are valid simply because they stand for numbers that happen to start with zeroes, and when the zeroes are omitted, the encoded address gets shorter.
Several of the characters inside a Bitcoin address are used as a checksum so that typographical errors can be automatically found and rejected. The checksum also allows Bitcoin software to confirm that a 33-character (or shorter) address is in fact valid and isn't simply an address with a missing character.
Or the market could turn them into Beanie Babies. Why one bitcoin could windup carrying the value of all U.S. Debt.Quote:
Originally Posted by vacuum
bitcoin: now with improved leverage and day trading-
http://www.zerohedge.com/news/2013-0...-time-leverage
edit: osab beat me to it!
:DQuote:
Originally Posted by chad
extra characters
$225 and dropping!
Good, it needs to stabilize. Where, is the question?Quote:
Originally Posted by vacuum
New and improved with leverage.Quote:
Originally Posted by vacuum
$190
Yep, this is the crash officially now. Wonder how low it goes.
My Litecoin theory isn't holding up, since that's crashing with Bitcoin.... yet.
On BTC-e the price of BTC just went from 240 to 135 back to 190 (to match the Mt Gox price.)
Quote:
Originally Posted by madfranks
You call this price action stability? You are one hardass investor, kudos.
$120 and dropping
I think holding silver for a few years does that to you.Quote:
Originally Posted by mamboni
On Gox the price keeps hovering up/down around $150. That was my guestimated price target of a crash. I hope it holds there.
It looks closer to $100 to me.Quote:
Originally Posted by Shami-Amourae
edit: nvm, there are trades at $105 and others at $150. It's oscillating like crazy.
No, which is why I said it needs to stabilize. Because what we're seeing is not stable. I think it's bitcoin price discovery time. The question is, what exactly is an anonymous decentralized currency worth to the world? And this probably isn't the last time we'll see crazy moves. It will probably take years for bitcoins to establish themselves; these are the birth pangs.Quote:
Originally Posted by mamboni
Look at the volatility
Attachment 4685
You should see BTC-e. It's crazier there. I won't trade at Gox anymore.
I still think $150 is the price to be discovered. But my opinion could change in 5 minutes at this rate.
:p
Part of the issue is that Mt Gox is experiencing continual DDoS attacks as I understand it.
Also, bitcoin only supports 7 transactions per second currently!
So when should I push the fire button, Shami?Quote:
Originally Posted by Horn
It was already pressed.Quote:
Originally Posted by Horn
http://techcrunch.com/2013/04/10/bitcoin-crash/
Bitcoin is undergoing a classic correction after quintupling in price over the past 30 days. The currency, which was trading as high as $265 earlier today on Mt. Gox, plummeted and is now trading at around $150.
We’ve reached out to one of the biggest exchanges, Mt. Gox, to see what happened. But another San Francisco-based exchange called TradeHill is saying that the crypto-currency is falling because of apparent distributed denial of service attacks on Mt. Gox and Bitstamp. A denial of service attack happens when an attacker overwhelms a target with external requests, so that it can’t honor regular requests from legitimate users.
This also happened last week when Mt. Gox when Bitcoin reached $142 and hackers attacked the exchange. At that point, Mt. Gox said it had suffered ”its worst trading lag ever.”
The Tokyo-based exchange said last week that hackers are engaging in a strategy to manipulate the price of the currency: “Attackers wait until the price of Bitcoins reaches a certain value, sell, destabilize the exchange, wait for everybody to panic-sell their Bitcoins, wait for the price to drop to a certain amount, then stop the attack and start buying as much as they can. Repeat this two or three times like we saw over the past few days and they profit.”
It looks like this may be happening again. Aside from that, any kind of 400% increase over 30 days is probably unsustainable from a technical point of view. A correction at this point would be healthy and natural.
If my $150 price holds this will be very healthy and things will resume.
Expect Chris Duane to claim victory as Silver has gone down in value over the same time period as Bitcoin as still gone up by multiples.
"Your investment may be up, and my investment may be down, but you're all wrong! I told you so!"
http://www.zerohedge.com/sites/defau...C%20crashy.pngQuote:
Originally Posted by vacuum
Closing at $135.
Losing HALF your investment in six hours is not a "classic correction".
:D
Nothing is "normal" with a Bitcoin market. None of us are used to unmanipulated markets. The same crap would happen if Silver wasn't manipulated, it would just happen in slower motion.
This perfectly defines the classic pump and dump. And it's completely anonymous.Quote:
The Tokyo-based exchange said last week that hackers are engaging in a strategy to manipulate the price of the currency: “Attackers wait until the price of Bitcoins reaches a certain value, sell, destabilize the exchange, wait for everybody to panic-sell their Bitcoins, wait for the price to drop to a certain amount, then stop the attack and start buying as much as they can. Repeat this two or three times like we saw over the past few days and they profit.”
Quote:
Originally Posted by Shami-Amourae
Unmanipulated market?Quote:
The Tokyo-based exchange said last week that hackers are engaging in a strategy to manipulate the price of the currency:
Once people catch on that this is what's happening, they'll be like 'meh' even if entire exchanges are taken down. It's actually healthy over the long run because that makes everyone's confidence much less vulnerable when a state starts confiscating or shutting down exchanges.Quote:
Originally Posted by Santa
http://www.thefiscaltimes.com/App_Da...et_article.jpgQuote:
Originally Posted by Shami-Amourae
No....No...Mr. Chump. This is great news. This is now a wonderful BUYING OPPORTUNITY !!!
:D
Quote:
Originally Posted by Santa
If it goes to $20 or below, I'll agree with you.
If it stays at $150, it's a correction.
We all agree this was a bubble, but was the bubble at $20 when this mania started, or $150, which is half of the top, like my example I showed last night:
If the market acts like this, the bubble was at $150, and this was a successful rally, meaning it only overshot with the rally.
http://www.telco2research.com/custom...feb%202011.png
Are you planning on being interviewed by King World News soon?Quote:
Originally Posted by Jewboo
http://abcnews.go.com/images/Technol..._090327_mn.jpgQuote:
Originally Posted by Shami-Amourae
Cramer and the lesbian jewess will soon be promoting Bitcoin.
:)
Why do that when Facebook stock is a STEAL now.Quote:
Originally Posted by Jewboo
BUY BUY BUY!
Vacuum sounds like a Silver guy.Quote:
Originally Posted by vacuum
NO! It's crashing all the way up to $180!
Fucking chickens!!
http://www.youtube.com/watch?v=zZ9dtZ8lYww
https://lh3.ggpht.com/-TWdYWRC63Rc/T.../gemini_02.jpg
Bitcoin vs. Litecoin Pricing Mechanism
Race to the bottom...lol.
:)