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The Bitcoin (BTC) thread
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JayJuanGee Offline
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Post: #1126
RE: Bitcoins up 60% in less than a month
(01-29-2014 02:41 AM)friheten Wrote:  
(01-26-2014 09:53 AM)Maciano Wrote:  It can.

The focus of bitcoin devs is now on fully finishing product, it's still beta (heh). If you're rly interested, check out Jeff garzik, Andreas Antonopoulos, Mike heard, gavin andresen. They talk abt bitcoin development. Vitalik bruterin did create Ethereum, a blockchain based altcoin, that can do a lot more than bitcoin at this point.

I think bitcoin will (as Marc Andreessen argued) will grow to dominance through network effect. The analogy is w/ dotcom domain names and dotnet, dotinfo or dottv. These top level DNS names are all perfectly valid and usable, but they'll never be premium like dotcom. There will be altcoins w/ a function; Litecoin as 2nd tier, some coin for tipping like Doge (LOL), some local country or specific purpose stuff, but only one will grow to real dominance. Whatever function blockchains will cover, like Ethereum, when it comes to currency/value/banking/stocks bitcoin will be number #1.
Didn´t know about Ethereum project.. Are you planning on investing into it Maciano? I´ve been reading about it and decided not to put any money into it. For several reasons but the baseline is that I don´t think it will gain any major value the way it´s built.

Anyhow it is very interesting, it´s now five of this projects.. Mastercoins, Nxt, eMunie, Ethereum and Protoshares...

All of them is trying to take bitcoins to the next level. Maybe the big raise in value for bitcoins is over and one of this next second generation will be the next one to skyrocket in price. The advantage of bitcoins is already very clear and as a store of value I´m sure it will, maybe not always, but at least for a long time ahead.

I´m feeling rather safe with my Mastercoin investment even though the price just droped down to 0.11MSC/BTC and my average buying point is 0.17. But as soon as this decentralized exchange is up I´m sure to price will go up, maybe to around 1MSC/BTC.

Is anyone else informed about this coins? All coins on cryptocoincap is actually playing their role.


Friheten:

I found an article that elaborates on a lot of the points that you were making in your previous post (above)... This article is very well written, makes a lot of good/useful points, and focuses somewhat on Ethereum as Bitcoin 2.0.

http://bitcoinmagazine.com/9671/ethereum...-platform/

You may already know a lot of the information outlined in the article; however, this article may be helpful for other forum guys to see. I don't claim to understand all of the ideas of the article, but I do understand enough to recognize that a lot of good/useful information is contained therein.
01-31-2014 01:58 PM
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Maciano Offline
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Post: #1127
RE: Bitcoins up 60% in less than a month
Haha I understand the sentiment of discontent w/ techno-ignorants. I reinstalled Windows 3x for my uncle, yet he never gets it to work. Amazing.

Anyway if someone's got a blockchain wallet they can DM their address I'll donate some small amount of btc, worth of <1$

Beauty of btc is that size of amount can be miniscule yet for testing/experience it doesn't matter.
01-31-2014 05:06 PM
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JayJuanGee Offline
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Post: #1128
RE: Bitcoins up 60% in less than a month
(01-31-2014 05:06 PM)Maciano Wrote:  Haha I understand the sentiment of discontent w/ techno-ignorants. I reinstalled Windows 3x for my uncle, yet he never gets it to work. Amazing.

Anyway if someone's got a blockchain wallet they can DM their address I'll donate some small amount of btc, worth of <1$

Beauty of btc is that size of amount can be miniscule yet for testing/experience it doesn't matter.

This could be good.

Let's say, you, Maciano, were to create an RVF member incentive (which you may have already created) in which you were to donate the BTC equivalent of 50 cents for every RVF member that is new to BTC (the guy would have to swear on a stack of fiat currency that he is new to BTC??). Limited to the first ????? # of members.

I wonder how long it will take for you to contribute $50? Probably, you would NOT get 100 PMs from guys b/c the less than a $1 incentive is NOT high enough? If you were to receive 100 PMs, you would have to update to a RVF gold membership, just to be able to accept all the PMs.
01-31-2014 05:31 PM
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Post: #1129
RE: Bitcoins up 60% in less than a month
(01-31-2014 01:58 PM)JayJuanGee Wrote:  Friheten:

I found an article that elaborates on a lot of the points that you were making in your previous post (above)... This article is very well written, makes a lot of good/useful points, and focuses somewhat on Ethereum as Bitcoin 2.0.

http://bitcoinmagazine.com/9671/ethereum...-platform/

You may already know a lot of the information outlined in the article; however, this article may be helpful for other forum guys to see. I don't claim to understand all of the ideas of the article, but I do understand enough to recognize that a lot of good/useful information is contained therein.

I've been reading that article. And you are right it's lots of good information in there. The Ethereum project is interesting, however It seems to be no more than a few weeks or months old. Comparing to Mastercoin which have been developing for several years. There might not be a one and only Bitcoin 2.0. I don't think so atleast. That article says that Mastercoins using the Bitcoin blockchain it's a disadvantage.. I do not believe so. I think it's really smart. The bitcoin network is really strong and to develop a protocol working on top of the network good. Also I guess it will be pretty easy to exchange Mastercoins for Ethereum when both of them get some more work done. The Disturbed Mastercoin exchange is set to open at the 15 of March. Se this link http://www.reddit.com/r/mastercoin/comme..._exchange/


By then the Ethereum fundraising would not even be over. Might not even have started who knows. I might put a small abount of BTC into Ethereum with the hope that it will make a jump in price once the fundraising is over and the coins created. However the fundraising will be for two months and early investor will get a 2x bonus.. Ethereum coins will also be able mined so the chance of major increase in price is lower imo.

eMunie fundraising will be in the last two weeks of this month.. From my previous research I decided to stay out of it, however I might do some more reading and maybe but a small amount of money into it as well in case the price rush after the fundraising is over.

The bitcoin market price have been stable for a while now https://blockchain.info/sv/charts/market-price

The mining contracts I was writing about before I'm about 81% BTC back. However today I only got about 4.5% of the money I put in back. First week that was 12%. Depending on the difficulty I might not get all the BTC back. Not sure. They are still selling the contracts, the only difference is that they got a small discount. They are most likely not to get the money back. This is the 11:th week for me. Mining is starting to become really unprofitable. I think this is another advantage of Mastercoin, there will be more transactions on the blockchain making mining more profitable and a stronger network possible..

Edit: eMunie is starting open beta today before fundraising starts on the 15:th
this is why I didn't go deep on it earlier: https://bitcointalk.org/index.php?topic=411366.0
(This post was last modified: 02-01-2014 06:50 AM by Satoshi.)
02-01-2014 05:53 AM
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JayJuanGee Offline
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Post: #1130
RE: Bitcoins up 60% in less than a month
Friheten:

I largely agree with your comments and feedback concerning the article and your discussion of the various alt crypto currencies (systems) that are discussed in the article. Of course, each of us has differing experiences, knowledge and perspectives, so it can be very useful to hear varying takes on these bitcoin related topics.

Certainly, you seem to be a little more bullish than me regarding Mastercoin, but I do NOT consider that to be any kind of big deal that guys may come to varying conclusions because a lot of these various cryptocurrencies are risky in their own ways and they each seem to have differing levels of risk that guys may come to differing conclusions about why to bet in a certain way… Certainly, you seem to have a faily solid reasoning (theory) as to why you believe Mastercoins may be a decent bet at this time and with the information that you have about it.




(02-01-2014 05:53 AM)friheten Wrote:  The bitcoin market price have been stable for a while now https://blockchain.info/sv/charts/market-price
Yes, an irony for right after you posted, the price spurted up, and then came back down. Anyhow, for about the past six days, BTC prices (bitstamp) have been floating between $780 and $810. We are currently floating around $825. If I were 100% certain that the price would shoot up, I would buy a little more right now, but NONE of these price predictions really seem certain. My current buy point (in the next 24 hours) is at $760, if the BTC price were to go there (which currently I am pretty relaxed in thinking that BTC prices are NOT going to go there… but Never say never.




(02-01-2014 05:53 AM)friheten Wrote:  The mining contracts I was writing about before I'm about 81% BTC back. However today I only got about 4.5% of the money I put in back. First week that was 12%. Depending on the difficulty I might not get all the BTC back. Not sure. They are still selling the contracts, the only difference is that they got a small discount. They are most likely not to get the money back. This is the 11:th week for me. Mining is starting to become really unprofitable. I think this is another advantage of Mastercoin, there will be more transactions on the blockchain making mining more profitable and a stronger network possible..

Certainly, it does seem that the guys who have their own mining equipment have the bigger potential upside from mining – but there is a certain burden of getting, setting up and maintaining the mining equipment – and then also learning how to potentially use the equipment for a guy’s best advantage in mining other coins, besides BTC.

These mining contracts seem to be riskier .. and maybe even losing investments.. .. because of the increased middlemen taking a cut..


Friheten, if you get settled down in Thailand, you could set up a big space with crypto currency mining equipment, but you may get executed by the govt or whoever takes over, over there.. Lots of chaos, and in recent times, Thailand has NOT seemed to have been too receptive to BTC…

Maybe in the end (in Thailand) you would have girls in your harem trying to cut off your penis, taxi drivers trying to machete you to death over $1 taxi fares and the govt trying to confiscate your BTC… lots of drama… but still interesting Smile
02-01-2014 03:14 PM
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Satoshi Offline
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Post: #1131
RE: Bitcoins up 60% in less than a month
(02-01-2014 03:14 PM)JayJuanGee Wrote:  Certainly, it does seem that the guys who have their own mining equipment have the bigger potential upside from mining – but there is a certain burden of getting, setting up and maintaining the mining equipment – and then also learning how to potentially use the equipment for a guy’s best advantage in mining other coins, besides BTC.

These mining contracts seem to be riskier .. and maybe even losing investments.. .. because of the increased middlemen taking a cut..


Friheten, if you get settled down in Thailand, you could set up a big space with crypto currency mining equipment, but you may get executed by the govt or whoever takes over, over there.. Lots of chaos, and in recent times, Thailand has NOT seemed to have been too receptive to BTC…

Maybe in the end (in Thailand) you would have girls in your harem trying to cut off your penis, taxi drivers trying to machete you to death over $1 taxi fares and the govt trying to confiscate your BTC… lots of drama… but still interesting Smile

However even buying your own mining equipment is risky at this time. The KnCminer Neptunus might not even go break even even though it's sold for $13.000.

Regarding the laws in Thailand, they've said it's illegal until any further is said.. Since they have not yet information to make a decision, they make it illegal on paper.. Just to cover their asses in case they were to ban it.. Mostly the taxi drivers here are very friendly and the girls are treating my dick good.
02-02-2014 02:54 AM
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strengthstudent Offline
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Post: #1132
RE: Bitcoins up 60% in less than a month
I will invest probably 0.5 bc for Ethereum just to get 1000 ethers. They are fundraising max 30 000 bitcoins... that's 24 000 000 $, seems like a good way to make founders rich. They won't probably get all of that but I think the public interest has been fairly good. The more they get, the better they should be able improve and market Ethereum, which is good for investors.
02-02-2014 03:28 AM
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Satoshi Offline
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Post: #1133
RE: Bitcoins up 60% in less than a month
(02-02-2014 03:28 AM)strengthstudent Wrote:  I will invest probably 0.5 bc for Ethereum just to get 1000 ethers. They are fundraising max 30 000 bitcoins... that's 24 000 000 $, seems like a good way to make founders rich. They won't probably get all of that but I think the public interest has been fairly good. The more they get, the better they should be able improve and market Ethereum, which is good for investors.

That would put them on 10:th place on http://coinmarketcap.com/ right after Quark coin...

Mastercoin did raise 4700BTC but that was in September before the bubble so they had a different value in USD then.

But Ethereum is not build to gain value? I did see some chart.. Because of mining later on.. And will then buy in the beginning or end of the fundraising?? Since the people buying during the first week or so get double of what the people in the last week get. Maybe will the price go somewhere in between them?? Once released. I would like to know how far they are in their work.. It's hard to find information older than one month about it. However if I could follow the fundraising and buy in the last weeks would probable be the smartest. Depending on how many BTC they collected already.


JJG Sexcoin is dead?? What happen

According to mining calculators I will be break even in 30days.. When I started the calculator told me I would be money back in 45+75 days.. So it's going down.
(This post was last modified: 02-02-2014 12:35 PM by Satoshi.)
02-02-2014 12:02 PM
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Post: #1134
RE: Bitcoins up 60% in less than a month
(02-02-2014 12:02 PM)friheten Wrote:  JJG Sexcoin is dead?? What happen

I had noticed with coinmarket cap that from time to time coins get listed at the bottom of the chart (currently nearly 90 coins) when there is NO current data regarding the coins' performance. I have seen teracoin at the bottom and off the list too.. And, I believe even novacoin was at the bottom, at some point.

I believe sexcoin will be back into the coinmarket cap charts as soon as coinmarket cap receives some sexcoin data. In recent weeks, Sexcoin has been pretty low on the coinmarket cap charts, but I expect that it is NOT going to go down without a bit of a fight.
02-02-2014 12:30 PM
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JayJuanGee Offline
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Post: #1135
RE: Bitcoins up 60% in less than a month
(01-05-2014 02:03 PM)friheten Wrote:  Every time we had this pattern before it has ended in a bubble. The previous times the price has rocket after we passed the last ATH. And then crash down to about the double ATH. If there is another bubble I will try to sell on the top. Not all my BTC but a some. Also the time between thr bubbles has been shorter and shorter. First two years then 8months so an other bubble at this moment might be right. Also it got so much attention since breaking $1000. Last year at this point there was almost no media attention and very few people know about it. Most of them to use silk road. And bitcoins itself was mostly related to silk.road. Not anymore. It's mainstream. Yes I'm super bullish



I was reminded of Friheten's earlier (above) post when I read the Washington post article in the below link.

Washington post article:
http://www.washingtonpost.com/blogs/the-...he-future/

Additional Res-edit Comments on the WP article:
http://www.reddit.com/r/Bitcoin/comments...coin_will/


The washington post article seems to make a lot of similar points that Friheten was making in his above RVF post, yet in more detail (and with four charts).

Please NOTE that the author of the washington post article (Timothy Lee) cautions that past BTC market results cannot ensure future BTC performance.

The WP article is a decent read with a long-term bullish expectation.

At the moment, I would venture to assert that the bitstamp charts show us that BTC prices have been nearly flat line for nearly a month at about the lower $800s level, which may be causing some of us to get bored with the lack of movement in BTC prices.
(This post was last modified: 02-03-2014 04:00 PM by JayJuanGee.)
02-03-2014 03:49 PM
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Post: #1136
RE: Bitcoins up 60% in less than a month
My rich mommy just gave me a luxury sedan, how many bitcoins can I buy with it?
02-04-2014 09:22 AM
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Satoshi Offline
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Post: #1137
RE: Bitcoins up 60% in less than a month
(02-04-2014 09:22 AM)Aliblahba Wrote:  My rich mommy just gave me a luxury sedan, how many bitcoins can I buy with it?
I googled that if it's the car you mean I offer you 0.5BTC just bring the car to me ASAP and I will transfer your BTC once I drive it. Better hurry since 24 hours from I will only give you only 0.4BTC.
02-04-2014 11:41 AM
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JayJuanGee Offline
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Post: #1138
RE: Bitcoins up 60% in less than a month
(02-04-2014 11:41 AM)friheten Wrote:  
(02-04-2014 09:22 AM)Aliblahba Wrote:  My rich mommy just gave me a luxury sedan, how many bitcoins can I buy with it?
I googled that if it's the car you mean I offer you 0.5BTC just bring the car to me ASAP and I will transfer your BTC once I drive it. Better hurry since 24 hours from I will only give you only 0.4BTC.

Hopefully, I am NOT stating the obvious, here.

Personally, I believe that it is easier (and potentially less conflictual) to deal in the value of a widely used fiat currency, such as the dollar.

Accordingly, if I make an offer to buy or sell some item with bitcoin, I tell people that I will give/receive the equivalent dollar value in bitcoin at the time that the deal is finalized.

Here, it appears that Friheten is offering Ali in the neighborhood of $400-ish for the car but is allowing his offer to remain open for 24 hours.... As we have seen, 24 hours can be a lifetime in BTC values. On the other hand, Friheten has made so many onerous and amorphous terms in his offer that it is likely that Ali, if he were inclined to accept such offer, will either NOT be able to figure out the offer or to comply with the terms within 24 hours.

Anyhow, until either the value of BTC becomes less volatile or BTC becomes more widely adopted, I believe that it remains less conflictual to agree to the terms of exchange in the value of a widely utilized fiat currency, such as the dollar (in its current fairly stable status).
02-04-2014 12:34 PM
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JayJuanGee Offline
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Post: #1139
RE: Bitcoins up 60% in less than a month
We've been getting quite a bit of negative BTC news in the past few days... including the Mt Gox concerns of liquidity which is seeming to cause the downward price pressures on BTC. Also, news about Apple taking additional harsh measures towards IOS apps related to using bitcoin. Further the trading volume in China seems to be somewhat lower, in recent days. The volume spikes in China are lower - and this may affect BTC prices to some extent... .

Right now and in recent days, BTC has been dipping into the $750s and $760s, and I am considering buying more... however, I am thinking that BTC may go down even lower - possibly, into the mid-$600s?

Certainly, I would prefer to buy BTC at a lower price if this downward momentum continues.... but currently, I am NOT considering selling BTC, b/c I do NOT have any solid news, at this point, that would cause me to believe that there is a certain and continued downward adjustment in BTC prices.

Guys have any predictions of BTC prices, based on current events?

Also, had some guys bought back into BTC around late January and early February - anticipating increases in BTC prices? We are still waiting and hoping for that upward boom.. no?
(This post was last modified: 02-06-2014 08:42 PM by JayJuanGee.)
02-06-2014 08:40 PM
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Post: #1140
RE: Bitcoins up 60% in less than a month
(02-06-2014 08:40 PM)JayJuanGee Wrote:  Guys have any predictions of BTC prices, based on current events?

Also, had some guys bought back into BTC around late January and early February - anticipating increases in BTC prices? We are still waiting and hoping for that upward boom.. no?

Prediction is difficult, especially about the future Wink But as I said earlier in the thread, with the proliferation of numerous alt coins over recent weeks, there is no now no reason for the price of Bitcoin to keep rising, as the rivals coins suck out the capital.

Bitcoin is an innovative payment system, but most are not using it for that purpose, instead most of the demand was fuelled by speculators trying to make a quick buck. If you took out all the speculators and just looked at demand based on real business usage, the price would fall to about $US 200, there's no rational basis for the price to be any higher than that right now. So my guess is for a crash to that level.
02-06-2014 09:44 PM
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Post: #1141
RE: Bitcoins up 60% in less than a month
I don't know. When I first read about Bitcoin all I could think about were tulips.
02-06-2014 09:46 PM
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Maciano Offline
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Post: #1142
RE: Bitcoins up 60% in less than a month
Bitcoin's dilemma:

If it rises, ppl feel they want in, but "not for this price"

If it crashes, ppl feel bitcoin is a tuliponzibubble.

If it stabilizes, ppl feel they can't make money.
(This post was last modified: 02-07-2014 05:59 AM by Maciano.)
02-07-2014 05:59 AM
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RE: Bitcoins up 60% in less than a month
(02-06-2014 09:44 PM)zarzuelazen Wrote:  [quote='JayJuanGee' pid='647742' dateline='1391737219']


Guys have any predictions of BTC prices, based on current events?

Also, had some guys bought back into BTC around late January and early February - anticipating increases in BTC prices? We are still waiting and hoping for that upward boom.. no?

I suspect there will be a rally, but not atm. Maybe a few months from now.

I follow the news quite a bit and the infrastructure is exploding. It rly is amazing what's happening. The opponents of bitcoin are getting louder, but they have no answers: China, Russia, Apple, Krugman, etc. can only *ban* or diss it, but never fight/debate it on equal terms. That's what I call a winner.

The best approach IMO is to silently, steadily accumulate more BTC for a fixed, small amount (you can spare) per month. I think it will become more & more valuable over the years, the same way dotcom domain names are now very valuable. Dotcom PDNs are valuable because they're a digital scarcity: there's a fixed amount of short pronouncable memorable catchy PDNs available -- just like btc.

I don't recommend trading to anyone. I just do what works for me.
(This post was last modified: 02-07-2014 06:20 AM by Maciano.)
02-07-2014 06:19 AM
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Post: #1144
RE: Bitcoins up 60% in less than a month
Quote:Right now and in recent days, BTC has been dipping into the $750s and $760s, and I am considering buying more... however, I am thinking that BTC may go down even lower - possibly, into the mid-$600s?

676 this morning *yawn* it will go lower. Why should it be 800? There is no real reason other than people thinking it's a good deal really so when they lose confidence they sell off then panic buy back in when they think it's a good deal again. The only other thing is new customers and hype. The Chinese were "new customers" and they are the reason it went to 1200. Something may happen to bring it up there but for now there's too much bad news.

So, buyers just hold on or buy and convert to USD.
02-07-2014 09:34 AM
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Post: #1145
RE: Bitcoins up 60% in less than a month
Is this normal?

[Image: screen%20shot%202014-02-07%20at%205.08.12%20am.png]
02-07-2014 09:45 AM
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RE: Bitcoins up 60% in less than a month
^ Yes
02-07-2014 09:50 AM
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RE: Bitcoins up 60% in less than a month

the peer review system
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02-08-2014 03:28 PM
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Post: #1148
RE: Bitcoins up 60% in less than a month
(02-08-2014 03:28 PM)svenski7 Wrote:  R.I.P. Mt. Gox

The death or pending death of Mt. Gox has been our dilemma and ongoing saga all weekend. What to do in regard to the news about Mt. Gox?

One aspect that has really been irritating me with this recent BTC price saga is that Coinbase has NOT been allowing their BTC prices to adequately fluctuate downward with the exchange prices. Accordingly, even though Coinbase's BTC prices seemed to had been largely pegged to Bitstamp, in the last couple of days, Coinbase's BTC prices have been about 4% higher than Bitstamp. Also, higher than all the other exchanges and the general BTC market rate.

This leads me to believe that Coinbase has been taking advantage of this situation and engaging in some of its own shenanigans to skim additional profits from its customers by NOT allowing its BTC sales price to go down along with the "real" BTC price market. It gets really irritating to NOT be able to buy at the low low bargain prices that had been fluctuating downward and then quickly back upward. For example, for several hours, other exchanges such as bitstamp and btc e were exchanging BTC in the $650 to $680 range, and Coinbase's prices would NOT go below $700.

I understand that Coinbase is NOT an exchange.. but still they should be closer pegged to the overall market (as they had been, prior to this recent BTC price crash).
02-09-2014 02:10 PM
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Post: #1149
RE: Bitcoins up 60% in less than a month
we gotta a real BTC crash going on right now...
02-10-2014 06:03 AM
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Post: #1150
RE: Bitcoins up 60% in less than a month
There is a run on Mt.Gox with a possible flaw in the protocol:

http://www.coindesk.com/price-drops-mt-g...al-delays/
(This post was last modified: 02-10-2014 06:16 AM by Tex Pro.)
02-10-2014 06:15 AM
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