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TinyUrl.com/About BITCOINS : DATA, Trading and Price Dynamics

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QUARKs, a crypto-currency suggested by Bill Still have been the big winners in the virtual currency world

 

ujzp.png

 

Want to make 100X your money??

 

IN A WEEK ?? !!

 

Well, follow Bill Still !
See HOW he did it : http://www.greenenergyinvestors.com/index.php?showtopic=18581

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FAKE or Not fake : Quarks ? -- (duplicate post)

 

 

From Clif High

http://halfpasthuman.com/

Now watch out....TPTB may be creating 'fake crypto' currencies to have something that they can still control. i personally find quarkcoin very suspicious in its growth patterns to its very large market cap with virtually NO linguistics behind it. Caveat emptor?

 

Yeah.

Bill Still is either knowingly, or unknowingly, assisting in a pump and dump.

Don't be fooled by the "low" price, and remember, nothing backs them.

 

I collected some research and links, here:

http://www.greenenergyinvestors.com/index.php?showtopic=18581

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For the RECORD here:

 

Some pretty negative comments on QuarkCoins - on the Bitcoin Channel

 

Bitcoin Report Volume 63 (Economic Dinosaurs)

 

== http://www.youtube.com/watch?v=0313StQ_SQU ==

 

The People he quotes do not like:

 

+ The QuarkCoin is already 98% pre-mined

 

+ The insiders may be inclined to dump as the comments become negative

 

+ One writer claimed: "Bill Still got a load of Bitcoins"... to promote it

 

He also talks about Peter Schiff;s interview with "VoorHees"

 

Brother John F sees BTC's "intrinsic value" is in the payment network.

"What's the intrinsic value of gold?" he asks.

 

He also explains why he thinks Bitcoin is not a ponzi scheme: "there's no promoter" (as a hub)

 

(I disagree: There's a group of happy holders promoting it - a Novo Ponzi scheme?)

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Indeed.

But his arguments make sense.

 

SEE:

QUARKCOIN Maths

===========

250 Million Coins Possible
245 Million already mined (98%!)
x 0.25 = $61.25 Million
====
A high percentage are already held by early adopters
The insiders have been very patient so far - How long will they hold on?
When their TRIGGER is hit, we shall see a fast drop IMHO
They have $60 Million of notional value to try to protect at 25 cents

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Looks like $918 - I'd be out from being long from the $500 level as mentioned earlier in the thread. It would have been a nice profit.

 

No"early mania" phase just yet I guess.

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That double top looks tradeable in hindsight.

 

It could be back below $500 reasonably soon

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This is text book stuff - if there was one. Well maybe I'll write a text book.

 

$666!

 

I always felt that the 1000 area was a "potential pivotal point" and it could be shorted at each round number (800, 700 etc) that it crossed!

 

As they say, the bull climbs the stairs, and the bear jumps out of the window!

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This is text book stuff - if there was one. Well maybe I'll write a text book.

 

$666!

 

I always felt that the 1000 area was a "potential pivotal point" and it could be shorted at each round number (800, 700 etc) that it crossed!

 

As they say, the bull climbs the stairs, and the bear jumps out of the window!

 

 

That top just above $1200 was such an obvious trade - a classic parabola - see my post http://www.greenenergyinvestors.com/post 144 - coyote denotes the top

 

It's really a shame there's no decent way of shorting Bitcoins with leverage. I'd have had a field day had there been an ETF out by now.

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IS THIS THE NEWS that will burst the bubble ??

 

 

 

 

My post back on 19th April outlined this as a scenario (during a post regarding the flaws of bitcoin);

 

Another way to look at it is this - let's say the flaw did not exist, and that instead of a centralised exchanged you had to go and seek a buyer or seller if you wanted to trade Bitcoins, you might need to meet someone on a forum, or through online chat or something like that. In that scenario a bubble would be slower to form since trade would occur at a slower rate, short term speculators would be less keen to become active in the market since there would arguably be more uncertainty over the liquidity of the market at any one time. It's possible that over a longer timeframe another bubble could form and then price would rise to a sufficient level such that an alternative flaw would seem to become manifest at the top - government intervention.

 

 

from http://www.greenenergyinvestors.com/index.php?showtopic=16736&page=3&do=findComment&comment=273206 (Soros General Theory of Reflexivity thread)

 

It's the flaw that creates the top by resolving the contradiction between the price rising and lack of awareness in the market. Suddenly everyone sees the flaw.

 

 

 

Bank of America's recent 5th December report on Bitcoins;

 

"Conclusions

We believe Bitcoin could become a major means of payment for e-commerce and

may emerge as a serious competitor to traditional money-transfer providers. As a

medium of exchange, Bitcoin has clear potential for growth, in our view.

There is much speculation that Bitcoin may help avoid high taxes, capital

controls, and confiscation. The correlation between CNY's share of volume of all

Bitcoin exchanges and price of Bitcoin is rising. That said, the fact that all Bitcoin

transactions are publically available and that every Bitcoin has a unique

transaction history that cannot be altered may ultimately limit its use in the black

market/underworld.

Bitcoin’s role as a store of value can compromise its viability as a medium of

exchange. Its high volatility, a result of speculative activities, is hindering its

general acceptance as a means of payments for on-line commerce.

Is Bitcoin a bubble? Assuming Bitcoin becomes (1) a major player in both ecommerce

and money transfer and (2) a significant store of value with a

reputation close to silver, our fair value analysis implies a maximum market

capitalization of Bitcoin of $15bn (1BTC = 1300 USD). This suggests that the 100

fold increase in Bitcoin prices this year is at risk of running ahead of its

fundamentals."

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An Ugly 24 hours for the Coin - down over 50% ... update

 

kf9d.png

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UK TAX ISSUES NOW

 

Back in November, UK tax authority HM Revenue and Customs (HMRC) announced they intended to classify bitcoins as vouchers, meaning there would be an applicable VAT on bitcoin.

Now, after a meeting between HMRC and UK proponents of bitcoin it appears there has been a shift in thinking and intentions.

Tom Robinson of BitPrice took to reddit to announce the news:

BitPrice just had a very positive meeting with HMRC regarding VAT and Bitcoin… We explained in detail what Bitcoin is and how it is used, following which they agreed that their categorisation of Bitcoin as: “a face-value voucher… likely ‘face value vouchers’” is inaccurate. They will be rescinding this advice.

The idea of bitcoins as a voucher would mean that VAT on bitcoin would be applied to the sale of bitcoins, creating a hindrance on viability, and this reassessment means that bitcoin markets have suddenly become much more certainly viable in the UK.

This does not imply that no taxes will be due with regards to any bitcoin transactions, rather:

HMRC are to take legal advice on exactly how Bitcoin should be treated with regards to VAT, but the meeting was very positive and I would expect further good news in the new year.
> http://americankabuki.blogspot.no/2013/12/vat-on-bitcoin-uk-tax-authority-hmrc.html

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That top just above $1200 was such an obvious trade - a classic parabola - see my post http://www.greenenergyinvestors.com/post 144 - coyote denotes the top

 

It's really a shame there's no decent way of shorting Bitcoins with leverage. I'd have had a field day had there been an ETF out by now.

 

 

Good post, I remember!

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More than just "money transfer"...

A thorough comment on BTC's value from Stefan Molyneux

 

The True Value of Bitcoin: What You Really Need To Know

 

 

"Eliminates (many of banking function)... so 8-10% of the economy can go back into the hands of the people."

 

Published on Nov 30, 2013

Stefan Molyneux, MA, host of Freedomain Radio, brings over 15 years of software and business entrepreneurial experience to the question: What is the true value of Bitcoin?

The Truth About Bitcoin
http://www.youtube.com/watch?v=w4HGVJ...

Bitcoin vs. Gold: The Future of Money - Peter Schiff Debates Stefan Molyneux
http://www.youtube.com/watch?v=mFcTJA...

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FAKE or Not fake : Quarks ? -- (duplicate post)

 

 

Yeah.

Bill Still is either knowingly, or unknowingly, assisting in a pump and dump.

Don't be fooled by the "low" price, and remember, nothing backs them.

 

I collected some research and links, here:

http://www.greenenergyinvestors.com/index.php?showtopic=18581

 

 

This post made me wonder what the purpose of the BBC news story a few weeks ago was really all about. Think it made the 6 o;clock edition too.

 

Some guy in South Wales had thrown his computer away, without backing it up and it was now buried in the local mega tip in Swansea with several hundred bitcoins that he'd bought at a low digit number :o

 

Made me wonder at the time, was it a scare story or was it to encourage purchases?

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This post made me wonder what the purpose of the BBC news story a few weeks ago was really all about. Think it made the 6 o;clock edition too.

 

Some guy in South Wales had thrown his computer away, without backing it up and it was now buried in the local mega tip in Swansea with several hundred bitcoins that he'd bought at a low digit number :o

 

Made me wonder at the time, was it a scare story or was it to encourage purchases?

 

Not just a scare story.

Over time, a great deal of this "money" will be lost in various ways.

And maybe at some stage, the Bitcoins "lost" every year will exceed the new ones mines.

 

A Solar Flare might wipe out many

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The force in Bitcoins is strong. It looks like a correction rather than a "bear market" in bitcoins. Look for all time new highs. I am neutral on bitcoins right now as posted on this video: http://www.greenenergyinvestors.com/index.php?showtopic=9343&page=22&do=findComment&comment=285273

 

 

You could be right - the Selling Volume, is LESS, much less, than in the last drop.

So says this commentary

 

Bitcoin Report Volume 65 (Bitcoin Volume) :

 

 

Crypto-Currency Market Capitalisations : http://coinmarketcap.com/

Below $9 Billion - for all Cryptos
QuarkCoin has fallen down the rankings
+ 98% of the coins were pre-mined
== ==
Total Market Cap: $ 12,492,515,118
Total Market Cap: 13,395,075 BTC

All prices based on BTC/USD exchange rate.

Last updated: Dec 10, 2013 2:27 AM UTC

 

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LISTEN to these two debates

Ultimate Bitcoin Showdown: Schiff vs. Voorhees

 

= http://www.youtube.com/watch?v=7mUn-d8R98k =

 

I think Peter Schiff makes most of the best points in this discussion

 

What is a "good payment mechanism" worth, when it can be so easily copied??

 

 

Market Caps of the Top 5 Cryptos :
# : Name of Coin : Market Cap : $ Price : Total Supply : % Chg. (24hr)
1 : Bitcoin-------: $ 11,209 Mn : $926.11 : 12,103,550 : + 5.20%
2 : Litecoind---- : $ 792.24 Mn : $ 33.28 : 23,808,742 : + 6.27%
3 : Peercoin --- : $ 110.12 Mn : $ 05.27 : 20,897,818 : +12.90%
4 : QuarkCoin- : $ 057.28 Mn : $ 00.23 : 246.1 Million: +44.76%
5 : NameCoin-- : $ 056.26 Mn : $ 07.50 : 07,500,150 : + 4.43%
====
6-10 : WorldCoin, MegaCoin, ProtoShares. PrimeCoin, ZetaCoin
====
> Coin MktCaps :: http://coinmarketcap.com/
====

 

An earlier Debate:

 

Bitcoin vs. Gold: The Future of Money - Peter Schiff Debates Stefan Molyneux

 

=

=

 

"The Bitcoin transfer cost is close to Zero," or is it?

 

Schiff's point: Most people will not want to hold Bitcoins, given the volatility

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IS THIS THE NEWS that will burst the bubble ??

 

 

 

 

 

BBC

"China bans banks from handling Bitcoin trade

 

China has banned its banks from handling transactions involving the Bitcoin virtual currency.

 

The ban came in a notice issued by the People's Bank of China, financial watchdogs and the nation's IT ministry.

 

Bitcoins were a "virtual good", had no legal status and should not be used as a currency, it said.

 

The decision comes after bitcoins' rapid rise in value was called a "bubble" by Alan Greenspan, former US Federal Reserve chairman.

Continue reading the main story

How Bitcoin works

 

Bitcoin is often referred to as a new kind of currency.

 

But it may be best to think of its units being virtual tokens rather than physical coins or notes.

 

However, like all currencies its value is determined by how much people are willing to exchange it for.

 

To process Bitcoin transactions, a procedure called "mining" must take place, which involves a computer solving a difficult mathematical problem with a 64-digit solution.

 

For each problem solved, one block of bitcoins is processed. In addition the miner is rewarded with new bitcoins.

 

This provides an incentive for people to provide computer processing power to solve the problems.

 

To compensate for the growing power of computer chips, the difficulty of the puzzles is adjusted to ensure a steady stream of about 3,600 new bitcoins a day.

 

There are currently about 11 million bitcoins in existence.

 

To receive a bitcoin a user must have a Bitcoin address - a string of 27-34 letters and numbers - which acts as a kind of virtual postbox to and from which the bitcoins are sent.

 

Since there is no registry of these addresses, people can use them to protect their anonymity when making a transaction.

 

These addresses are in turn stored in Bitcoin wallets which are used to manage savings.

 

They operate like privately run bank accounts - with the proviso that if the data is lost, so are the bitcoins owned.

 

The ban was imposed because bitcoins were not backed by any nation or central authority, said the notice.

 

It added that it was planning to step up its efforts to curb the use of bitcoins to launder cash.

 

Individuals were still free to trade in bitcoins but should be aware of the risks involved, said the People's Bank of China (PBOC), adding that it planned to formalise the regulation of exchanges that dealt in the digital cash.

 

Experts told Reuters the PBOC was moved to make its decision because Chinese nationals were heavily involved in trading the virtual currency. Many believe this is because it helps them avoid controls on trade in the yuan"

 

 

From the George Soros and his General Theory of Reflexivity thread

 

Parabola-2_zpsf9b6bfaa.png

 

The price in a market rises to that moment of realisation when the flaw is suddenly forced into the consciousness of the market. The contradiction within the market is resolved and the price collapses.

 

 

 

In this scenario with Bitcoin it's status as a future currency is severely threatened so it will be interesting to see if that move by China marks the top.

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Bitcoin down to as low as $680 in recent trade.

 

9d9443c61bb79e7b892ef953489d528e_zps6575

 

This chart shows google searches for bitcoin over time. You can see the previous peak in April as well as the recent top.

 

As the price drops there should be more negativity hit the wires.

 

Seems that Estonia is the Johnny come lately of the world stage.

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Bitcoin 1 year (click to update)

 

BTC_zpsf6d96a7a.png

 

 

Look at how low the volume is now. That's got sell written all over it.

 

Other charts at https://blockchain.info/charts

 

$747 now according to mtgox.com

 

700 looks like an intermediate support level, if it gives look out below!

 

For the uptrend to re-commence, it needs to clear the 1200 level.

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Text book price action!

 

Stops are so important. Herds change direction fast, and once in one direction, they keep going that way in a stampede.

 

What a difference a day makes. The Bull climbs the stairs, and bear jumps out of the window!

 

$568 now, and 700 level gave way. Feel the power of fear!!!

 

---

 

It sliced though $600!

 

$500, $400 looks like weak support. It might even reach $300.

 

In the longer run, I still don't rule out the "early mania phase", as the banks such as JPM and spending money on this area. I don't rule out new all time highs in the future. No position on this.

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As the price drops there should be more negativity hit the wires.

 

 

 

Zerohedge;

 

"Bitcoin Crashes After China Bans New Deposits; PBOC Gets DDOSed In Retaliation

 

Yesterday it was the US Treasury's Financial Crimes Enforcement Network that tightened its grip on businesses that accept Bitcoin. Today, it is China, where the world's largest Bitcoin exchange by trading volume, BTCChina announced that he had received word from "above" that his platform would no longer be able to accept renminbi from BTC buyers. "As of right now, we have received notice from our third-party payment company that they will disallow customers from making deposits into our exchange," Bobby Lee, a former Yahoo developer who co-founded BTCChina this year, told the Financial Times. The result, not surprisingly, is an overnight crash in BTC, which crashed by 50% from $900 two days ago to just $455 hours ago."

 

 

 

That's the nail in the coffin for Bitcoin. It'll be in the history books along with Tulips and the South Sea bubble.

 

It's been down to $455 in recent trade.

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