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Showing 12 of 12 results by xeretix
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Re: Gold collapsing. Bitcoin UP.
by
xeretix
on 17/08/2015, 23:24:28 UTC
....
Are we getting played and strung along by people even more hideous than we can imagine? ...

Matilda Briggs was not the name of a young woman, Watson, ...
It was a ship which is associated with the giant rat of Sumatra, a story for which the world is not yet prepared.
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
xeretix
on 17/08/2015, 20:16:59 UTC

My toilet is from 1927 although I have only been using it for 22 years during which time it has never clogged. 

Ah, from the days when men were men & toilets had pull chains?  Before pesky regulators started legislatin' just how many gallons we freedom lovers could use to flush down their worthless fiat?
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
xeretix
on 17/08/2015, 19:50:57 UTC
so it appears this noob (*redditards*) FUD is casting down pressure on bitcoin's price when the rest of global economy is on the edge..

those whining little titty crawlers have managed to cripple bitcoin's inalienable agility with this forking BS.

so imma say it out loud for once and for all: fuck you USGavin and GOOGLHearn!  Angry

They've disrupted our antifragile black swan past her tipping point?

i tried and i must say not so much excitement and adrenalin, and in the end you cant even call yourself trader Sad

i could try with a higher amount but seems i wouldnt be able to flush the toilet anymore ...

Take a lesson from the professional traders in this thread and keep trying!  Again and again and again and again, until your money is all gone.  At that moment, you will achieve enlightenment.
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Re: My twisted pleasure...
by
xeretix
on 17/08/2015, 17:03:09 UTC
...drop by to read all those "the end is near" prophets at this section, every time btc to usd drop a couple of bucks.  Grin

actually it's more then that and it does seems like it's the end indeed , atleast the end for the price if not for the coin it self
as you can see a lot of shit going ON on reddit these days and the censorship of moderators on /r/Bitcoin and developpers facing one against the other weither we should fork or not so yes we are not on the best situations

Check https://www.reddit.com/r/bitcoin_uncensored/ , https://www.reddit.com/r/bitcoin_uncensored/comments/3haocj/a_few_of_the_posts_deleted_on_rbitcoin_yesterday/ in particular.
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Re: If bitcoin forks to XT, the price will start declining
by
xeretix
on 17/08/2015, 16:21:46 UTC
Bitcoin already forked once.

Remember what happened to the price?

if you're talking about the 2013 fork, nothign really happened, there was a minor dump after the 230 peak, but it started before the fork so it's not sure if it was cause by the fork or what

Yep, lasted about half a day then rose quickly after that.

And that was an unexpected fork. Imagine how easy the transition will be when we can pretty much watch it happen down to the hour.

No one was against the last hard fork.  This one's gonna be different.
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Re: Block size
by
xeretix
on 17/08/2015, 13:06:30 UTC
i think they will keep it till early 2016 but it caused so much drama that some people even think it will damage bitcoin for good.

It wont damage bitcoin for good unless everyone or almost everyone changes over to xt, but it will cause panic and uncertainty which is not what we want.

Already 8% Undecided
https://getaddr.bitnodes.io/nodes/?q=/Bitcoin%20XT:0.11.0/
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Re: Only $360mio of inflow needed to keep current price and reach next halving!
by
xeretix
on 16/08/2015, 20:57:49 UTC
I'm sure someone better qualified can come up with that answer. I just post dick jokes.

This social experiment can sure use them Smiley

Quote from: Kurt Vonnegut Jr
...The name of the book was The Big Board. It was about an Earthling man and woman who were kidnapped by extraterrestrials. They were put on display in a zoo on a planet called Zircon-212.

These fictitious people in the zoo had a big board supposedly showing stock market quotations and commodity prices along one wall of their habitat, and a news ticker, and a telephone that was supposedly connected to a brokerage on Earth. The creatures on Zircon-212 told their captives that they had invested a million dollars for them back on Earth, and that it was up to the captives to manage it so that they would be fabulously wealthy when they were returned to Earth.

The telephone and the big board and the ticker were all fakes, of course. They were simply stimulants to make the Earthlings perform vividly for the crowds at the zoo—to make them jump up and down and cheer, or gloat, or sulk, or tear their hair, to be scared shitless or to feel as contented as babies in their mothers' arms.

The Earthlings did very well on paper. That was part of the rigging, of course. And religion got mixed up in it, too. The news ticker reminded them that the President of the United States had declared National Prayer Week, and that everybody should pray. The Earthlings had had a bad week on the market before that. They had lost a small fortune in olive oil futures. So they gave praying a whirl. It worked. Olive oil went up.
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Re: Only $360mio of inflow needed to keep current price and reach next halving!
by
xeretix
on 16/08/2015, 20:00:39 UTC

Well, I'd be very intrigued to see what happened if that did come about. It would certainly be spectacular if nothing else.

I never understood why the block reward isn't adjusted gradually (each consecutive block having a slightly lower reward), rather than by halving it every X number of blocks.  Any idea?
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Re: Only $360mio of inflow needed to keep current price and reach next halving!
by
xeretix
on 16/08/2015, 19:47:11 UTC

Sure, until miners decide to point their gear to another coin.  Remember, reward halving means miners will gross half as much as they do now.  Depending on BTC price at that time, their net could become negative.


There aren't very many alternative coins that a Bitcoin ASIC could mine. And even fewer that are actually worth anything.

There's nothing worth mining now because it's hard to compete with BTC at its current block reward. This may all change next year if BTC price doesn't double by the time block reward is halved.

The whole thing kinda feeds on itself, think the kindling model. Bitcoin is strong because it's strong; because a large, expensive network of miners is behind it. Turn that network to a clone coin, and bitcoin's no longer strong, the clone coin is.
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Re: Only $360mio of inflow needed to keep current price and reach next halving!
by
xeretix
on 16/08/2015, 17:48:15 UTC
If the majority of bitcoin-exchange market supply is coming from mining, which currently seems to be the case,

Not at all.  Not even if we assume miners selling every coin they mine.
Source: blockchain.info

Quote
and that supply halves, that's a supply shock. If demand remains the same, the price must roughly double.

A fundamental misunderstanding of how the market works.
If that was really the case, GM could simply cut the number of cars manufactured in half, and double the price. Profit!

Really comparing bitcoin to cars???

If there were only 100 cars in existence and there would never be any more, then we destroyed 50 of them , yes, the price of the remaining cars would skyrocket...

err yeah, if Biitcoin was the only money in existence, or even the only crypto...

But let's work with your example: "If there were only 100 cars in existence and there would never be any more, then we destroyed 50 of them , yes, the price of the remaining cars would skyrocket..."

No, it would not.  People will learn to walk, or ride scooters, or trains, or fly.  Other car manufacturers would appear (just like other coins are appearing).

You're starting with the same misconception that Beanie Babies enthusiasts fell victim to: Limited supply guarantees value.  Of course, it doesn't.  I don't need to own a Beanie, and I certainly don't need to own a bitcoin--I can chose to simply ignore both & use my CC.
Bitcoin may not be the only coin out there but, it's the only one with a massively giant network behind it.

Sure, until miners decide to point their gear to another coin.  Remember, reward halving means miners will gross half as much as they do now.  Depending on BTC price at that time, their net could become negative.
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Re: Only $360mio of inflow needed to keep current price and reach next halving!
by
xeretix
on 16/08/2015, 16:45:41 UTC
If the majority of bitcoin-exchange market supply is coming from mining, which currently seems to be the case,

Not at all.  Not even if we assume miners selling every coin they mine.
Source: blockchain.info

Quote
and that supply halves, that's a supply shock. If demand remains the same, the price must roughly double.

A fundamental misunderstanding of how the market works.
If that was really the case, GM could simply cut the number of cars manufactured in half, and double the price. Profit!

Really comparing bitcoin to cars???

If there were only 100 cars in existence and there would never be any more, then we destroyed 50 of them , yes, the price of the remaining cars would skyrocket...

err yeah, if Biitcoin was the only money in existence, or even the only crypto...

But let's work with your example: "If there were only 100 cars in existence and there would never be any more, then we destroyed 50 of them , yes, the price of the remaining cars would skyrocket..."

No, it would not.  People will learn to walk, or ride scooters, or trains, or fly.  Other car manufacturers would appear (just like other coins are appearing).

You're starting with the same misconception that Beanie Babies enthusiasts fell victim to: Limited supply guarantees value.  Of course, it doesn't.  I don't need to own a Beanie, and I certainly don't need to own a bitcoin--I can chose to simply ignore both & use my CC.
Post
Topic
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Re: Only $360mio of inflow needed to keep current price and reach next halving!
by
xeretix
on 16/08/2015, 16:28:10 UTC
If the majority of bitcoin-exchange market supply is coming from mining, which currently seems to be the case,

Not at all.  Not even if we assume miners selling every coin they mine.
Source: blockchain.info

Quote
and that supply halves, that's a supply shock. If demand remains the same, the price must roughly double.

A fundamental misunderstanding of how the market works.
If that was really the case, GM could simply cut the number of cars manufactured in half, and double the price. Profit!