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The Bitcoin (BTC) thread
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Maciano Offline
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Post: #1526
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
I suspect BTC will start rising again and reach between 2k & 4k sometime this year, it could also be bearish for a while longer. Who knows, rly? Anyway, it will get up again. That's what I believe and always have believed.

I do amusingly look at frustrated ppl who feel somehow wronged that their investment didn't immediately make them millionaires. There's nothing wrong w/ that, but it's a bit childish. You can't always win in trading, let alone short-term trading.
03-31-2014 03:10 AM
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T and A Man Offline
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Post: #1527
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(03-28-2014 04:56 AM)username Wrote:  Which got me thinking... as soon one of the big financial institutions like Citi, Chase, HSBC, etc launches a Bitcoin product this will legitimize Bitcoin and will send BTC values through the roof. My guess is that right now BTC is still easy for them to ignore and the US government is probably telling them to stay away from BTC.

It also happens to be the greatest risk to BTC.

I can see more upside to downside of what the concept of BTC is, but it's more to do with the crytpo-currency aspect of it, not so much the vendor.

Much like Netscape was the first powerful web browser.

The technology is now ubiquitious, but you didn't realise any value via Netscape.

The banks may want to bypass BTC proprietry if they feel they can get a bigger cut, or extract greater economic rents doing it themselves.
03-31-2014 03:27 AM
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username Offline
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Post: #1528
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
There is big money in cryptocurrency gambling games. Just-Dice had made 15,000 BTC ($6,800,000 USD) while Doge-Dice has made 504,743,681 DOGE ($252,000 USD). This is their profit before hosting/server cost. I'm My friend is considering throwing one together for an altcoin.
03-31-2014 02:12 PM
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brg444 Offline
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Post: #1529
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(03-31-2014 03:27 AM)T and A Man Wrote:  
(03-28-2014 04:56 AM)username Wrote:  Which got me thinking... as soon one of the big financial institutions like Citi, Chase, HSBC, etc launches a Bitcoin product this will legitimize Bitcoin and will send BTC values through the roof. My guess is that right now BTC is still easy for them to ignore and the US government is probably telling them to stay away from BTC.

It also happens to be the greatest risk to BTC.

I can see more upside to downside of what the concept of BTC is, but it's more to do with the crytpo-currency aspect of it, not so much the vendor.

Much like Netscape was the first powerful web browser.

The technology is now ubiquitious, but you didn't realise any value via Netscape.

The banks may want to bypass BTC proprietry if they feel they can get a bigger cut, or extract greater economic rents doing it themselves.

but they can't
03-31-2014 02:43 PM
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JayJuanGee Offline
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Post: #1530
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(03-31-2014 02:43 PM)brg444 Wrote:  
(03-31-2014 03:27 AM)T and A Man Wrote:  
(03-28-2014 04:56 AM)username Wrote:  Which got me thinking... as soon one of the big financial institutions like Citi, Chase, HSBC, etc launches a Bitcoin product this will legitimize Bitcoin and will send BTC values through the roof. My guess is that right now BTC is still easy for them to ignore and the US government is probably telling them to stay away from BTC.

It also happens to be the greatest risk to BTC.

I can see more upside to downside of what the concept of BTC is, but it's more to do with the crytpo-currency aspect of it, not so much the vendor.

Much like Netscape was the first powerful web browser.

The technology is now ubiquitious, but you didn't realise any value via Netscape.

The banks may want to bypass BTC proprietry if they feel they can get a bigger cut, or extract greater economic rents doing it themselves.

but they can't

I think T&A is correct, at least to the extent to project that some banks are going to attempt such competition with BTC and attempt to build a name and dilute the bitcoin space... ultimately, these sponsored competitors are going to have the problem of centralization and inability to give up sufficient control over their constructed currency in order to inspire public confidence... some of them may make considerable profits with such attempted solutions... yet in the end, they are likely NOT going to succeed without adequately creating or imitating something with such decentralization as bitcoin provides... and there remains little incentive for them to do this.. except from the ground up.. which BTC has already made considerable strides in such ground up direction...

So in that sense.. they cant... like brg444 asserted...
(This post was last modified: 03-31-2014 03:00 PM by JayJuanGee.)
03-31-2014 02:57 PM
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pants Offline
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Post: #1531
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
As long as the governments keeps printing fiat, there will be plenty of ways into btc when there is a btc-atm on every corner...

bah i want in for 5kUSD at bottom, but where is it?!?
03-31-2014 03:04 PM
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brg444 Offline
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Post: #1532
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(03-31-2014 02:57 PM)JayJuanGee Wrote:  
(03-31-2014 02:43 PM)brg444 Wrote:  
(03-31-2014 03:27 AM)T and A Man Wrote:  
(03-28-2014 04:56 AM)username Wrote:  Which got me thinking... as soon one of the big financial institutions like Citi, Chase, HSBC, etc launches a Bitcoin product this will legitimize Bitcoin and will send BTC values through the roof. My guess is that right now BTC is still easy for them to ignore and the US government is probably telling them to stay away from BTC.

It also happens to be the greatest risk to BTC.

I can see more upside to downside of what the concept of BTC is, but it's more to do with the crytpo-currency aspect of it, not so much the vendor.

Much like Netscape was the first powerful web browser.

The technology is now ubiquitious, but you didn't realise any value via Netscape.

The banks may want to bypass BTC proprietry if they feel they can get a bigger cut, or extract greater economic rents doing it themselves.

but they can't

I think T&A is correct, at least to the extent to project that some banks are going to attempt such competition with BTC and attempt to build a name and dilute the bitcoin space... ultimately, these sponsored competitors are going to have the problem of centralization and inability to give up sufficient control over their constructed currency in order to inspire public confidence... some of them may make considerable profits with such attempted solutions... yet in the end, they are likely NOT going to succeed without adequately creating or imitating something with such decentralization as bitcoin provides... and there remains little incentive for them to do this.. except from the ground up.. which BTC has already made considerable strides in such ground up direction...

So in that sense.. they cant... like brg444 asserted...

the number 1 reason why they can't IMO is security.

the BTC blockchain is robust and secure because of the scale of its network which the banks will NEVER be able to replicate
03-31-2014 03:11 PM
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FrenchCanadian Offline
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Post: #1533
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(03-31-2014 02:12 PM)username Wrote:  There is big money in cryptocurrency gambling games. Just-Dice had made 15,000 BTC ($6,800,000 USD) while Doge-Dice has made 504,743,681 DOGE ($252,000 USD). This is their profit before hosting/server cost. I'm My friend is considering throwing one together for an altcoin.

as an old poker pro who got fucked by black friday, I might be biased and mad but I feel there's guaranteed incoming harassment + regulations for these guys, if it hasn't already started yet... the live casino fuckers/moguls are pushing hard to ban all online gambling. Personally I wouldn't venture there.
(This post was last modified: 03-31-2014 03:31 PM by FrenchCanadian.)
03-31-2014 03:31 PM
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JJ Roberts Offline
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Post: #1534
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
Just bought some more today at $442
03-31-2014 03:38 PM
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el mechanico Offline
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Post: #1535
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(03-31-2014 03:38 PM)JJ Roberts Wrote:  Just bought some more today at $442
Nice!
03-31-2014 04:01 PM
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JayJuanGee Offline
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Post: #1536
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(03-31-2014 03:11 PM)brg444 Wrote:  
(03-31-2014 02:57 PM)JayJuanGee Wrote:  
(03-31-2014 02:43 PM)brg444 Wrote:  
(03-31-2014 03:27 AM)T and A Man Wrote:  
(03-28-2014 04:56 AM)username Wrote:  Which got me thinking... as soon one of the big financial institutions like Citi, Chase, HSBC, etc launches a Bitcoin product this will legitimize Bitcoin and will send BTC values through the roof. My guess is that right now BTC is still easy for them to ignore and the US government is probably telling them to stay away from BTC.

It also happens to be the greatest risk to BTC.

I can see more upside to downside of what the concept of BTC is, but it's more to do with the crytpo-currency aspect of it, not so much the vendor.

Much like Netscape was the first powerful web browser.

The technology is now ubiquitious, but you didn't realise any value via Netscape.

The banks may want to bypass BTC proprietry if they feel they can get a bigger cut, or extract greater economic rents doing it themselves.

but they can't

I think T&A is correct, at least to the extent to project that some banks are going to attempt such competition with BTC and attempt to build a name and dilute the bitcoin space... ultimately, these sponsored competitors are going to have the problem of centralization and inability to give up sufficient control over their constructed currency in order to inspire public confidence... some of them may make considerable profits with such attempted solutions... yet in the end, they are likely NOT going to succeed without adequately creating or imitating something with such decentralization as bitcoin provides... and there remains little incentive for them to do this.. except from the ground up.. which BTC has already made considerable strides in such ground up direction...

So in that sense.. they cant... like brg444 asserted...

the number 1 reason why they can't IMO is security.

the BTC blockchain is robust and secure because of the scale of its network which the banks will NEVER be able to replicate


Personally, I believe that various kinds of sponsored alt cryptos can and will provide security and they will even provide money back guarantees to people to insure their user's from a large variety of losses. So, in the security and safety of investment realm, they are going to comfort and coo their potential customers.

ON the other hand, they are NOT going to comfort and coo their customers in terms of confidence that the company will NOT be skimming profits and self-dealing and inflating the currency to line their pockets. That is where bitcoin or some other non-centralized currency is going to inspire greater confidence in the long run.


Anyhow, we will see how these kinds of alt currencies and sponsored alt currencies will play out b/c it is certainly a longer term game to employ such mechanisms that is somewhat speculative at this point.

(03-31-2014 03:31 PM)FrenchCanadian Wrote:  
(03-31-2014 02:12 PM)username Wrote:  There is big money in cryptocurrency gambling games. Just-Dice had made 15,000 BTC ($6,800,000 USD) while Doge-Dice has made 504,743,681 DOGE ($252,000 USD). This is their profit before hosting/server cost. I'm My friend is considering throwing one together for an altcoin.

as an old poker pro who got fucked by black friday, I might be biased and mad but I feel there's guaranteed incoming harassment + regulations for these guys, if it hasn't already started yet... the live casino fuckers/moguls are pushing hard to ban all online gambling. Personally I wouldn't venture there.


REgarding poker. I believe that there remains a lot of potential for this in the crypto currency space - in spite of various government regulators who are going to continue to have trouble controlling this and these kinds of activities may become greater and greater excuses to attempt to squelch various crypto currencies, including bitcoin.


(03-31-2014 04:01 PM)el mechanico Wrote:  
(03-31-2014 03:38 PM)JJ Roberts Wrote:  Just bought some more today at $442
Nice!

Welcome back to the BTC thread. I hope you are well rested from your time away. Blush
03-31-2014 08:57 PM
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JayJuanGee Offline
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Post: #1537
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
During my large quantity of free time, I have been working out some speculation concerning the incentives that the wealthy BTC investors have to manipulate BTC prices downward on the BTC exchanges and then to profit from such price manipulation.

I think that the assumption here is that since the GOX situation, large amounts of capital has moved off of various exchanges out of fear that money will be lost or stolen, so that makes it easier for large institutions to manipulate prices on exchanges. They may likely NOT perform their large investments through exchanges; however, the exchange price affects how much they are going to pay per BTC when they agree off-line to acquire BTC from various sources.

Accordingly, maybe it is the paranoia in me, but I believe that BTC price manipulation is taking place on exchanges, even though I may NOT be able to clearly articulate the mechanics of how it is done, exactly.. or how much profits and or losses take place through such BTC price manipulations.....

For example, if an institutional investor into BTC can manipulate BTC prices downward on the exchanges, and it costs that institutional investor, let's say for argument sake $1 million to manipulate the BTC prices downward.. Thereafter, the institutional investor is able to acquire, 20,000 BTC for average of $500 per BTC rather than average of $650 per BTC, then that institutional investor has just saved $2 million, which is $3million saved from purchase of the BTC at lower price at $1million cost to manipulate the BTC market price downward = $2 million profits overall.

Surely the numbers work out differently with different quantities of BTC purchases. If an institutional investor wants to acquire 200,000 BTC, then multiply each of the categories of numbers by 10, and you get $30 million in savings from the downward manipulation and the institutional investor may be willing to take large losses on exchanges to keep the BTC prices down and to save and to get 200,000 BTC at $500 average rather than $650 average.
03-31-2014 09:16 PM
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JJ Roberts Offline
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Post: #1538
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(03-31-2014 08:57 PM)JayJuanGee Wrote:  and greater excuses to attempt to squelch various crypto currencies, including bitcoin.

But that's the point. Bitcoin is not "squishable"
03-31-2014 09:22 PM
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JJ Roberts Offline
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RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(03-31-2014 09:16 PM)JayJuanGee Wrote:  For example, if an institutional investor into BTC can manipulate BTC prices downward on the exchanges, and it costs that institutional investor, let's say for argument sake $1 million to manipulate the BTC prices downward.. Thereafter, the institutional investor is able to acquire, 20,000 BTC for average of $500 per BTC rather than average of $650 per BTC, then that institutional investor has just saved $2 million, which is $3million saved from purchase of the BTC at lower price at $1million cost to manipulate the BTC market price downward = $2 million profits overall.

This is not 'manipulation' it's called FX trading.

This is exactly what foreign currency traders in investment banks do for a living every single day.

I have a friend who used to do this for a living.
03-31-2014 09:25 PM
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JayJuanGee Offline
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Post: #1540
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(03-31-2014 09:25 PM)JJ Roberts Wrote:  
(03-31-2014 09:16 PM)JayJuanGee Wrote:  For example, if an institutional investor into BTC can manipulate BTC prices downward on the exchanges, and it costs that institutional investor, let's say for argument sake $1 million to manipulate the BTC prices downward.. Thereafter, the institutional investor is able to acquire, 20,000 BTC for average of $500 per BTC rather than average of $650 per BTC, then that institutional investor has just saved $2 million, which is $3million saved from purchase of the BTC at lower price at $1million cost to manipulate the BTC market price downward = $2 million profits overall.

This is not 'manipulation' it's called FX trading.

This is exactly what foreign currency traders in investment banks do for a living every single day.

I have a friend who used to do this for a living.

Whether we call it manipulation or "a living," my point, in part, is that it is much easier to accomplish this kind of downward price manipulation with bitcoin and with a lot less capital than with various currencies or other commodities. Yes we know that silver tends to be more manipulated than gold b/c the market cap is smaller... - and even easier to accomplish this kind of price manipulation on the BTC exchanges since a lot of money seems to have moved off of the exchanges after some of the GOX fear factor(s) in recent months.

Accordingly, it takes much less money to manipulate BTC prices downwards... but it takes a hell of a lot more money to manipulate than what I can imagine having as an individual with my 45 BTC.... I think to accomplish really effective manipulation, a guy would need to have several million in fiat... maybe in the $20 million range (40,000 BTC)... and that money would be used for manipulation, possibly on a few of the exchanges.. and some of that money may be purposefully lost on the exchanges in order to earn the money back outside of the exchanges.

I am NOT suggesting that I am coming up with any novel theory... but sometimes people newer to BTC may wonder why BTC prices move downward the way that they do... and sometimes manipulators will have nearly impossible difficulties manipulating BTC prices when volume and momentum picks up and then they have to go with the flow of the volume and the new price direction,, before they can begin to manipulate the prices again.


(03-31-2014 09:22 PM)JJ Roberts Wrote:  
(03-31-2014 08:57 PM)JayJuanGee Wrote:  and greater excuses to attempt to squelch various crypto currencies, including bitcoin.

But that's the point. Bitcoin is not "squishable"

Agreed... NOT squishable.. but we are still going to see various kinds of tactics in the coming years to control it and to regulate it in various ways and maybe divide and conquer and sometimes prosecute people through ambiguities... I would prefer NOT to be a target... look what they are doing to Schrem... and if you have ever heard him speak, he is a fairly young and naive BTC idealist, who got caught in the let's make an example out of him target group.
(This post was last modified: 03-31-2014 10:09 PM by JayJuanGee.)
03-31-2014 10:05 PM
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brg444 Offline
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Post: #1541
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
I posted this in the other thread but this truly belong here.

I have a theory that the next bubble is sort of the point of no return.

I am expecting unseen momentum upward.

It feels like everyone on the institutional and corporate side is standing on the sideline waiting to see who is going to make the first big move.

When this kind of money start investing, no one is gonna want the other to have an edge. Thus, most are gonna want to have more token in the system than the other, more bitcoins in the balance.


Quote:The bitcoin is the only thing where the complete definition of ownership is the entry on the ledger. It has to be a native and new currency because the definition of the object is the ledger entry. That doesn’t correspond to a dollar or a piece of gold or something else. It is what it is. The entry on a ledger of a bitcoin is a fundamental unit whose value can be moved electronically through the security protocol.

Quote:One way to think about the transaction volume and the intrinsic value is that, at any moment in time, there’s a fixed number of bitcoins, and suppose you want to run half a billion dollars-worth of transactions through the system in a day.

There’s a fixed number of bitcoins, and a dollar value of transactions that needs to be supported on them, and each bitcoin can only be used once in a day, then the market cap of the bitcoins would have to rise to support the dollar value of transactions. There’s a market price for access to the bitcoins.

http://www.coindesk.com/professor-susan-...sic-value/

Quote:There’s a market price for access to the bitcoins.
This is a quote that resonates a lot with me. Once people have gotten a grasp of the power of the technology, they are often lead to wonder how is it we can quantify and store value in the system. With bitcoins. This is what they are : unit, entries, tokens for the ledger.

As more people realize this, they are gonna want to hold as many as possible. Especially the banks.

I see a correlation with the "hundredth monkey effect".

Quote:The hundredth monkey effect is a studied phenomenon[1] in which a new behavior or idea is claimed to spread rapidly by unexplained, even supernatural, means from one group to all related groups once a critical number of members of one group exhibit the new behavior or acknowledge the new idea.
(This post was last modified: 04-02-2014 10:27 AM by brg444.)
04-02-2014 10:25 AM
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Emancipator Offline
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Post: #1542
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
The CEO of BMO came out positive of bitcoin, first major NA bank to come out and do so.

I agree with brg444, the last bubble was done by China, the next one will be Wall St.

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04-02-2014 12:34 PM
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JayJuanGee Offline
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RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(04-02-2014 10:25 AM)brg444 Wrote:  I posted this in the other thread but this truly belong here.

I have a theory that the next bubble is sort of the point of no return.

I am expecting unseen momentum upward.

It feels like everyone on the institutional and corporate side is standing on the sideline waiting to see who is going to make the first big move.

When this kind of money start investing, no one is gonna want the other to have an edge. Thus, most are gonna want to have more token in the system than the other, more bitcoins in the balance.


Quote:The bitcoin is the only thing where the complete definition of ownership is the entry on the ledger. It has to be a native and new currency because the definition of the object is the ledger entry. That doesn’t correspond to a dollar or a piece of gold or something else. It is what it is. The entry on a ledger of a bitcoin is a fundamental unit whose value can be moved electronically through the security protocol.

Quote:One way to think about the transaction volume and the intrinsic value is that, at any moment in time, there’s a fixed number of bitcoins, and suppose you want to run half a billion dollars-worth of transactions through the system in a day.

There’s a fixed number of bitcoins, and a dollar value of transactions that needs to be supported on them, and each bitcoin can only be used once in a day, then the market cap of the bitcoins would have to rise to support the dollar value of transactions. There’s a market price for access to the bitcoins.

http://www.coindesk.com/professor-susan-...sic-value/

Quote:There’s a market price for access to the bitcoins.
This is a quote that resonates a lot with me. Once people have gotten a grasp of the power of the technology, they are often lead to wonder how is it we can quantify and store value in the system. With bitcoins. This is what they are : unit, entries, tokens for the ledger.

As more people realize this, they are gonna want to hold as many as possible. Especially the banks.

I see a correlation with the "hundredth monkey effect".

Quote:The hundredth monkey effect is a studied phenomenon[1] in which a new behavior or idea is claimed to spread rapidly by unexplained, even supernatural, means from one group to all related groups once a critical number of members of one group exhibit the new behavior or acknowledge the new idea.

BRG444:

I agree with everything that you are saying in the above post, and in my thinking as well, there seems a fairly good likelihood that something like this exponential growth is going to happen - even from our current standpoint... and even going much beyond the all time high. ...

Accordingly, we have NOT yet seen that amazing exponential growth.. even though we have seen several incredible upswings in BTC prices and even though several bitcoin naysayers continue to assert that bitcoin prices are in a bubble or overvalued...etc etc....

Part of the reason that I had some confidence to begin to invest my fiat into BTC at $1200 per btw was because I recognized that exponential potential in bitcoin in November 2013... and I have become even more confident in my about 4 months study of bitcoin and other cryptos that some exponential value phenomenon like you explain is going to occur in the very near future b/c more and more big wigs are getting acquainted with the btc concept... and probably during 2014 we are going to see this jumping onboard snowballing b/c once the jumping on the bandwagon starts to happen, there will likely be a sort of rippling effect on an upward trajectory - likely to take us much past $10,000 per BTC...

Before we get there though... we will have to get through a few of these various manipulations from governments, etc... whether real news or NOT... that cause negative price trajectories... like we are currently in.


There are two parts of your post that I would like to point out:

1st the easy one is that the link that you provided regarding professor susan does not work.

Second: I am NOT really clear about your reference that a bit coin can only be used once in a day. I know that there are some issues with confirmations taking some time; however, I did NOT know about any issues in spending bitcoins more than once in a day. On the contrary. I thought that as soon as there are confirmations, possibly six confirmations that the transaction has taken place, then a guy would be free to spend (or transfer) that bitcoin again. Can you explain or point out your source regarding the only once in a day theory, regarding the spending/transferring of a bitcoin?
04-02-2014 12:42 PM
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pants Offline
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Post: #1544
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
Hahah!


Anyone seen the latest max keiser show?







Skip to 15 minutes
04-02-2014 12:43 PM
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rottenapple Offline
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RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
Just bought my first bitcoin, partly due to the info here on the forum for which I thank all of you and with help from my brother who is a bitcoin fan since early times (and who lost 37 BTC with Mount Gox.. OUCH). At my young age, it is also my first investment sort of so I am eager to see how this will play out. I am already tempted to buy more to be honest.
04-02-2014 05:10 PM
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NY Digital Offline
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RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
Great site for sleep timing:

http://sleepyti.me/
04-02-2014 05:31 PM
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RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(04-02-2014 05:10 PM)rottenapple Wrote:  Just bought my first bitcoin, partly due to the info here on the forum for which I thank all of you and with help from my brother who is a bitcoin fan since early times (and who lost 37 BTC with Mount Gox.. OUCH). At my young age, it is also my first investment sort of so I am eager to see how this will play out. I am already tempted to buy more to be honest.

Even though bitcoin seems to be at a real good price right now, you may want to consider buying BTC in increments as your budget permits.... I personally believe that prices are NOT going to become much cheaper..... Maybe we might get into the upper $300s, but who really knows?

Also, depending through whom you buy can affect your buying incentive. I buy through coinbase, so the entry fee is 1% plus 15 cents per transaction.. .so there is a pretty decent incentive to buy in small increments.

I do NOT know your buy options b/c coinbase is only in the united states, to my understanding.
04-02-2014 05:43 PM
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rottenapple Offline
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Post: #1548
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(04-02-2014 05:43 PM)JayJuanGee Wrote:  
(04-02-2014 05:10 PM)rottenapple Wrote:  Just bought my first bitcoin, partly due to the info here on the forum for which I thank all of you and with help from my brother who is a bitcoin fan since early times (and who lost 37 BTC with Mount Gox.. OUCH). At my young age, it is also my first investment sort of so I am eager to see how this will play out. I am already tempted to buy more to be honest.

Even though bitcoin seems to be at a real good price right now, you may want to consider buying BTC in increments as your budget permits.... I personally believe that prices are NOT going to become much cheaper..... Maybe we might get into the upper $300s, but who really knows?

Also, depending through whom you buy can affect your buying incentive. I buy through coinbase, so the entry fee is 1% plus 15 cents per transaction.. .so there is a pretty decent incentive to buy in small increments.

I do NOT know your buy options b/c coinbase is only in the united states, to my understanding.

I used Bitcoin Central this time, which suited me well. I agree on the price, I don't think it will get much lower. The question then is, what percentage of my personal capital am I willing to risk on this? Not an easy question to answer.
04-02-2014 05:58 PM
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JayJuanGee Offline
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Post: #1549
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(04-02-2014 05:58 PM)rottenapple Wrote:  I used Bitcoin Central this time, which suited me well. I agree on the price, I don't think it will get much lower. The question then is, what percentage of my personal capital am I willing to risk on this? Not an easy question to answer.

Yeah, that tends to be a very personal question that depends on a variety of factors including age, risk tolerance, income, how diversified you are in other investments. People often say don't bet more than you are willing to lose; however, we know that sometimes people will leverage their investment.. which is really betting the farm on their investment, which could cause you to become very rich if you bet correct or potentially live a life of poverty if you lose....

I tend to make sure that I am diversified in my investments, including my BTC investment, but as you may have noticed, there are other philosophies and perspectives that have contributed to this thread.
04-02-2014 06:22 PM
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Post: #1550
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(04-02-2014 06:22 PM)JayJuanGee Wrote:  
(04-02-2014 05:58 PM)rottenapple Wrote:  I used Bitcoin Central this time, which suited me well. I agree on the price, I don't think it will get much lower. The question then is, what percentage of my personal capital am I willing to risk on this? Not an easy question to answer.

Yeah, that tends to be a very personal question that depends on a variety of factors including age, risk tolerance, income, how diversified you are in other investments. People often say don't bet more than you are willing to lose; however, we know that sometimes people will leverage their investment.. which is really betting the farm on their investment, which could cause you to become very rich if you bet correct or potentially live a life of poverty if you lose....

I tend to make sure that I am diversified in my investments, including my BTC investment, but as you may have noticed, there are other philosophies and perspectives that have contributed to this thread.

here is the link

http://www.coindesk.com/professor-susan-...sic-value/

in regard to the one bitcoin a day thing. I was as surprised as you were reading that and I'm not certain of the validity of this information. in that sense, I tend to agree with you.
04-02-2014 08:23 PM
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