drbubb Posted December 20, 2013 Author Report Share Posted December 20, 2013 yep - but it is bouncing back now ... update - though on fading volume... It will slide again, I reckon Link to comment Share on other sites More sharing options...
Philder Posted December 22, 2013 Report Share Posted December 22, 2013 Interesting discussion about Bitcoin :- Finextra interview with IBM architect Richard G Brown about Bitcoin https://www.youtube.com/watch?v=gERNbqUNMm4 Think there are some interesting ideas in there, and it's nice to see a discussion that isn't planting a flag for a cause. In the meantime, I'm up and running with the Litecoin and Feathercoin clients. Nothing in them as yet, but going to use them as an experiment. Link to comment Share on other sites More sharing options...
Perishabull Posted December 24, 2013 Report Share Posted December 24, 2013 I was searching through Martin Armstrong's website (Armstrong Economics) to see what he has to say on Bitcoin. Here are a selection of quotes from different posts of his; 4th October 2013 - "The government is after Bitcoin and focus on concerns about criminal activity to justify taking down what they see as avoiding taxes. In August, New York regulators subpoenaed 22 companies active in the Bitcoin economy, including well-known venture-capital firms like Google Ventures and Andreessen Horowitz, seeking to uncover possible illegality.I have stated before. I do not see where the government will sit on its hands when the G20 is already agreeing to hunting down money everywhere. They think if they can collect taxes, then they will retain power. That will fail." 19th November 2013 - "On Monday, Congress held its first congressional hearing on virtual currencies focusing on bitcoin. As Congress discussed bitcoin, the price of one bitcoin soared to more than $750 apiece. Overlooked was the concern focused on anonymity and lack of regulation.Personally, it is hard to imagine a world where they will allow bitcoin to survive when they are doing everything in their power to hunt down money. Canada is already looking at taxing it and the concerns expressed by Congress clearly place this within the legal definition of what they call money laundering. What once was real washing of illegal money for legal use like the mob buying old 1930s roadside motels and pretending they were fully booked every night to get illegal cash into the system, is now applied to even storing gold or cash in a safe deposit box. Having an account outside the USA is money laundering hiding untaxed money from the government. So bitcoin can fit into that category and what federal judge would rule against the government? NONE!" 17th December 2013 - "I have stated before that the government was allowing Bitcoin to open the door for the coming virtual digital money. Of course, they will shut down Bitcoin once it has served its purpose. They have drawn the line in the sand and now the world’s largest manufacturer of physical Bitcoin coins will no longer accept orders since the U.S. authorities have imposed regulations that cannot be circumvented. The whole thing will center on alleged “money laundering” and what they really mean by that is hiding money from the tax man." Link to comment Share on other sites More sharing options...
drbubb Posted December 25, 2013 Author Report Share Posted December 25, 2013 Interesting. Armstrong believes the Govt is USING bitcoin "to open the door for virtual currency" - but they may eventually kill it, in their chase for funds, and desire to hold onto power. Clif High seems to think that Bitcoins will triumph over the Dollar and the Fed in 2014: RECENT WUJO Podcasts from Clif High E71 - December 18, 2013 BotApp, BTC, Fed, Data clifs wujo December 18, 2013 E70 - December 16, 2013 Quarkcoin & piss'em off monday. clifs wujo December 16, 2013 E69 - December 12, 2013 Bitcoin for old phartes clifs wujo December 12, 2013 E68 -December 8, 2013 Terra, site, BTC/btc clifs wujo December 8, 2013 Link to comment Share on other sites More sharing options...
drbubb Posted December 26, 2013 Author Report Share Posted December 26, 2013 Chinese have few decent options on where to store their wealth. They can buy: + Property, or + Invest in Shadow banking OR bank deposits at very low rates. SO: Wealth has been "leaking" out of the country, They recently discovered bitcoins a few weeks ago, thanks to some documentaries on Chinese TV. And money flowed in. Soon many Chinese caught the "speculative bugs" on Cryptos, and new Chinese money flowed in Cryptos at a very fast rate, driving Bitcoins over $1,000. And other coins went up in sympathy. The Chinese government became concerned, and had to shut the door. Hence, the recent slide off the highs for Bitcoin prices. But Chinese banking stress is not over, and more attempts to diversify away from the Yuan are likely. So the Chinese may find a way to go on investing in Cryptos. Link to comment Share on other sites More sharing options...
Member100 Posted December 28, 2013 Report Share Posted December 28, 2013 A Discussion from YouTube - "Bitcoins have no backing" Bitcoins are for Idiots = http://www.youtube.com/watch?v=3SHwhoqxBU0 = ( 1 ) Jacob Tyler : The fact remains that bitcoin is backed by nothing. There is a huge computer network to TRACK and FOLLOW every bitcoin... it's almost as if the NSA created this "currency". If others want to use it, fine, but I want everyone to know that ALL FORMS OF CURRENCY NEED TO BE LEGALIZED. Not just bitcoin.It seems like everyone harping about bitcoin just desperately wants a system different from government currency, and that's great. Just don't blindly follow the flow where bitcoin will be legalized while still outlawing other currencies like gold and silver (or anything else people within transactions would choose to trade with). The government likes bitcoin because it is 100% trackable, it is the "one world currency" they would love to have... no way to avoid paying taxes on it when it's 100% trackable over the internet (which the government 100% controls, if you don't know that from the recent NSA scandals, you are blind).. ( 2 ) - GuyFox55555 : Some good thoughts here. Some think that the US govt is allowing Bitcoins to grow in use because they know they can kill it at any time, and replace it with the NWO's own virtual currency. I like cash. And I like "currencies" like Gold and Silver, which are no one else's liability. The volatility of the price of Bitcoins should be a warning sign of the danger in using them. People are closing their minds to the huge downside, because they think they are making money. Link to comment Share on other sites More sharing options...
Member100 Posted December 28, 2013 Report Share Posted December 28, 2013 Q&A on RippleCoin: XRP's huge-supply design has created a ripple: J. i. : How is your look on Ripplecoin? It's market cap is huge and Google has an investment in it. G.F: Ripple has a crazy amount of Supply: 99,999,998,252 XRP That compares with Bitcoin Supply of-----: 12,183,925 BTC : 8,210x times as many XRP as BTC ! === This means that a small move in the price of individual XRP, can bring a huge jump or fall in the Coin's MktCap. Thought this is a clever marketing gimmick (especially for Pump-and-Dump operators), it is not a good sign for the seriousness of the Coin. XRP is now #2 in Coin MktCap, but it lags down at #8/of the Top-10, in terms of Daily Volume ($130k per day in the last 24 hours, vs. $42.3 Million for Bitcoins.) === > From : BitcoinChannel-71: Alt-Trading : When the RippleCoin operators are ready to sell, it will be "look out below" ! : : TOP 10 CRYPTO Currencies- BY VOLUME # Name ------- : Market Cap------- : Price---- : Total Supply---------- : Volume (24h): % Chg. 1 Bitcoin ------ : $ 8,919,851,493 : $732.10 : 12,183,925 BTC----- : $ 42,255,714 : - 0.46 % 2 Litecoin ----- : -- $ 556,360,952 : $ 22.86 : 24,334,042 LTC------ : $ 23,955,418 : +1.36 % 3 Namecoin --- : --- $ 36,755,680 : $ 04.83 : 7,606,942 NMC-------- : -$ 1,260,866 : - 1.14 % 4 Peercoin ---- : --- $ 83,841,148 : $ 04.00 : 20,974,623 PPC------ : --- $ 822,155 : +7.82 % 5 Nxt ----------- : --- $ 69,753,615 : $ 0.070 : 999,997,986 NXT----- : --- $ 481,201 : +0.19 % =========== Top 5 Coins--- : $ 9,666,562,888 : ====== : ================= : $ 68,775,354 6 MasterCoin- : -- $ 103,072,791 : $183.03 : 563,162 MSC--------- : --- $ 231,863 :+15.49 % 7 WorldCoin-- : --- $ 18,012,486 : $ 0.480 : 37,391,885 WDC----- : ---- $ 144,192 : +0.21 % 8 Ripple ------ : $ 2,756,127,746 : $ 0.028 : 99,999,998,252 XRP : ---- $ 130,775 : +7.89 % 9 Quark -------- : --- $ 27,310,771 : $ 0.110 : 246,854,817 QRK---- : ---- $ 91,795 : - 2.58 % 2,904,523,794 10 ProtoShares : --- $ 24,356,864 : $ 20.15 : 1,208,929 PTS-------- : --- $ 43,669 : +3.58 % =========== Top 5 Coins--- : $ 9,666,562,888 : ====== : ================= : $ 68,775,354 Next 5 Coins -- : $ 2,928,880,658 : ====== : =================== : $ 642,294 Top 10 Coins- : $12,595,443,546 : ====== : ================= : $ 69,417,648 ========================== The promoters (of XRP) at work: Is Ripple XRP The Next Bitcoin? : : Pumping up people's greed response "People have laughed at --- " : Facebook, Amazon, Bitcoins... (Haha. There are many, many things that have failed that people have laughed at. So what?) Link to comment Share on other sites More sharing options...
Member100 Posted December 28, 2013 Report Share Posted December 28, 2013 SCAM COINS, and Btc-China's Possible Move to Hong Kong These are important factors to think about How to spot a "scam coin" (at 10.5 minutes in): Huge supply and Close holdings are "red flags" Bitcoin Report Volume 70 (Alt Analysis) : : A Blogger with a website to help you spot scams: CryptoLife Blog : http://cryptolife.net/ (example from there): EARTHcoin : SCAM ALERT: === Earthcoin is another one of those crapcoins with some minor tweak that tries to pass itself off as a gamechanger. In this case, a slightly fluctuating block reward, supposedly in accordance with earth’s rotation, is this coin’s ‘killer feature’. Is this really what catches the altcoin scene’s attention now? Gimmicky block reward mechanisms? A 58 page forum thread would make it appear that way. Earthcoin is being promoted heavily by a lot of sockpuppet accounts with <30 activity rating. This immediately throws up a bunch of red flags, and is always indicative of something shady going on. So, I began to search for a motive. Tucked neatly away in the the main post is this little gem: “Premined 2% for promotions, giveaway, bounties, dev and long term support.” With a total of 13,500,000,000 coins, that makes this ’2%’ premine consist of a whopping 270,000,000 coins. Earthcoin also had superblocks, making it not only massively premined, but instamined as well. What a winner of a coin! BTC-china's Move to Hong Kong (from YT comments): Troy Johnston 3 days ago Okay, You have again missed out on talking about by far the most important factor right now, which is BtcChina, They are 40+% of the entire market and they are going belly up. I'm waiting for another large correction from them. +David Jenkins That is something I hope Bobby Lee has a handle on. He hinted at something in an interview. I don't know. I can't imagine blocking China from the Bitcoin market ... in the long run. Aren't they hashing like crazy? Dominik Zynisthey are going to move to Hong Kong ... anyway their volume is overstated due to their no fee policy so you can't really say they are 40%. i can trade btc for USD all day long if there was no tx fee, and i can have my own mega-exchange with billions of btc in volume Troy Johnston You don't know what you're talking about.There fee's are a 0.3% trading commission. (Proof) https://vip.btcchina.com/page/notice20131220As for them moving to Hong Kong, there's no evidence for that. Link to comment Share on other sites More sharing options...
drbubb Posted December 29, 2013 Author Report Share Posted December 29, 2013 BITCOIN: C.I.A. Eyes FED Alternative - a 2011 Video, but still relevant on many issues = http://www.youtube.com/watch?v=Fv4q4i2Ktd0 = "The cyber-punks cracked the encryption codes... and gave us Bitcoins" = = Another classic 2011 video on Bitcoins Complete detail of how Bitcoin works = = .... OR : This-2013 Link to comment Share on other sites More sharing options...
drbubb Posted January 3, 2014 Author Report Share Posted January 3, 2014 Price Data - added to the Header... ================== BTC Year-end prices = = = = = = = = = =Year- : Price- : Change : Percent : x Start =========== =======start- :2009 : ? $.05 :7/17/10: $.05 :2010 : $ 0.29 : +$0.24? : + 480%? :2011 : $ 4.60 : +$ 4.31 : + 1486% :2012 :$13.48 : +$ 8.88 : + 193.0% :2013 :$815.0 : +$801.5 : + 5945% :=========== : End - 2013 : +/- Chg . : Percent // Mo : -2014- : mom : yoy ==========: ====== : ======== / == : ====== : === : === J . : $ 20.58 : +$ 07.10 : + 52.7 % / J . : F. : $ 32.69 : +$ 12.11 : + 58.8 % / F . : M : $ 92.70 : +$ 60.01 :+183.6 % / M . : A : $139.87 : +$ 47.17 : + 50.9 % M. : $128.15 : -$ 11.72 : - 8.38 % J . : $ 96.84 : - $ 31.31 : - 24.4 % Jl : $108.03 : +$ 11.19 : + 11.6 % A : $143.04 : +$ 35.01 : + 32.4 % S : $127.09 : - $ 15.95 : -11.15 % O : $206.34 : +$ 79.25 : + 62.3 % N : $ 1,078. : +$871.66 :+422.4 % D : $815.00 : - $263.00 : - 24.4 % ========== 12 mos. '13 : Aver. chg. : 84.9 % per month since sq.rt of 12 is 3.46, then x 84.9% = Vol. of 294% per annum? At that level, a One Year call ATM is worth: x40% = $850 x 2.94% x 40% = $$meaningless Link to comment Share on other sites More sharing options...
drbubb Posted January 4, 2014 Author Report Share Posted January 4, 2014 Robocoin, The Bitcoin ATM, Is Heading To Hong Kong And Taiwan http://techcrunch.com/2014/01/02/robocoin-the-bitcoin-atm-is-heading-to-hong-kong-and-taiwan/ 56% of Bitcoiners Believe the Bitcoin Price Will Reach $10,000 in 2014 http://www.coindesk.com/56-of-bitcoiners-believe-bitcoin-will-reach-10000-in-2014/ Link to comment Share on other sites More sharing options...
notanewmember Posted January 4, 2014 Report Share Posted January 4, 2014 56% of Bitcoiners Believe the Bitcoin Price Will Reach $10,000 in 2014 http://www.coindesk.com/56-of-bitcoiners-believe-bitcoin-will-reach-10000-in-2014/ Ha. Isn't that where gold should be now. Play the trade, but don't get emotionally involved. Link to comment Share on other sites More sharing options...
drbubb Posted January 4, 2014 Author Report Share Posted January 4, 2014 "56% of Bitcoiners Believe the Bitcoin Price Will Reach $10,000 in 2014" Ha. Isn't that where gold should be now. Play the trade, but don't get emotionally involved. Right. Especially when it lines up with the cycle It too early to get excited IMHO. The usual cycle is 6.6 months between Lows. That recent low came "too soon" for me to be confident it was an optimal buying chance. The Last 10-days ... update Be Careful - since we might get a REVERSAL in the cycle in Mid-Jan. - a high, not a low. Link to comment Share on other sites More sharing options...
drbubb Posted January 5, 2014 Author Report Share Posted January 5, 2014 Latest Bitcoin Reports :: Bitcoin Report Volume 73 (Cryptographic Disruption - Part 1) = = Part 2 : Part 3 Link to comment Share on other sites More sharing options...
notanewmember Posted January 5, 2014 Report Share Posted January 5, 2014 Bitcoin now $1,021. It looks like a correction after all? May it challenge the illusive $1200 level? The early mania phase beckons! Link to comment Share on other sites More sharing options...
drbubb Posted January 5, 2014 Author Report Share Posted January 5, 2014 There's a cycle turn (supposedly) in mid-Jan. It may have come early, or it may invert... or not work at all Sometimes, when a cycle invert, it makes a major turning point (just saying... so we can monitor) Link to comment Share on other sites More sharing options...
drbubb Posted January 14, 2014 Author Report Share Posted January 14, 2014 "Bye-bye, Bitcoin" ? ( A China perspective ) Andy Xie thinks it is the beginning of the end of the Bitcoin, because of China's crackdown. "Bitcoin is a Ponzi scheme masquerading as a futuristic currency. It was a small bubble until it found China last year," he says + Fed policy has created a plethora of colorful bubbles + China is the land of retail bubbles, thanks to the 22% average growth in China's money supply since 1978, and the shortage of alternatives to real estate investing + Savings rates are low, so "rolling the dice seems more attractive than keeping money in the bank" + Bitcoins caught fire because it attracted retail punters. With a small market cap, bitcoins were perfect for pump and dump... and it jumped 100x before China cracked down + The recent recover is just a dead cat bounce. China sees BTC as a bubble that benefits foreigners. It cannot be controlled by the Chinese govt (unlike property), so it cannot be tolerated + A Bitcoin ATM is coming to Hong Kong, but BTC is not real money. With China's support, it cannot hold up Bitcoin / BTC price ... update + When a price is holding, but without volume, a bubble cannot hold up for long Link to comment Share on other sites More sharing options...
drbubb Posted February 3, 2014 Author Report Share Posted February 3, 2014 Are big Cryptos (other that Bitcoins) going to start "biting the dust"? Here's a post from GLP: RIP dogecoin It's over. Devs screwed all of you by removing market cap. Crashing hard. It's over > source: http://www.godlikeproductions.com/forum1/message2474639/pg1 THAT was on a 10-12% drop, it would seem. It is still #6 : SEE MarketCaps: http://coinmarketcap.com/ > JOIN GEI Call next Saturday: http://www.greenenergyinvestors.com/index.php?showtopic=18757 Link to comment Share on other sites More sharing options...
Perishabull Posted February 5, 2014 Report Share Posted February 5, 2014 Bitcoin transaction volume has dropped over previous 12 months Source : Blockchain; Link to comment Share on other sites More sharing options...
drbubb Posted February 5, 2014 Author Report Share Posted February 5, 2014 It might also make sense to look at Volume measured in USD. The picture would look very different Link to comment Share on other sites More sharing options...
drbubb Posted February 7, 2014 Author Report Share Posted February 7, 2014 This is an excellent and detailed explanation BITCOIN Security, Solving blocks - and Losing Coins How Bitcoin Works Under the Hood "Like a public Locker with money in it... and two passwords, with one private." = = Bitcoin addresses can in theory be used twice, but there is a check... (to see and verify which transaction happened first) Some good explanations here: + Each transaction has a "digital signature" with Public and Private key + Nodes check both keys, without seeing the Private key (math is complex) + No records are kept of total balances - instead references are made to past transactions + All prior transactions referenced to pay, must be used up - send money back to self + All prior transactions are checked to make sure Coins have not been spent already + People will inevitable lose private keys + 'Lost' Coins cannot be used, and so are deflationary for the system + How "end of chain insecurity" is handled + To transfer money, you must refer to a previous point in the chain where you received a Bitcoin = Link to comment Share on other sites More sharing options...
drbubb Posted February 9, 2014 Author Report Share Posted February 9, 2014 From DrB's Diary - for the historical record here The Action is still in Falling Bitcoins ! Back down to $631, in light volume : Bitstamp-5day chart ... update Longer term - as of yesterday ... update = Nearly ALL the Cryptos are getting pounded again today CRYPTO== : $Price= : Mkt-Cap = : 24h.rChg / Volume== ======= 1. Bitcoin--- : $661.40 : $8,183 mn : - 3.92% / $32.41 mn 2. Ripples-- : $ 0.017- : $1,716 mn : - 3.58% / $ 49,487 3. Litecoin-- : $ 17.76 : $ 454.0 mn : - 2.74% / $ 5.64 mn 4. Peercoin- : $ 04.49 : $ 94.88 mn : - 5.13% / $775,141 5. Dogecoin : $ .0011 : $ 49.22 mn : - 2.17% / $798,094 6. NXT ------ : $ 0.046 : $ 46.23 mn : - 2.23% / $ 77,660 7. Mastercoin: $61.51 : $ 34.64 mn : - 1.52% / $ 05,285 8. Namecoin : $ 04.16 : $ 33.24 mn : - 2.81% / $624,836 9. Quarkcoin : $ 0.072 : $ 17.90 mn : - 5.69% / $ 97,363 10 Protoshs. : $ 10.21 : $ 14.74 mn : - 2.58% / $ 15,840 ========= Exceptions, trading higher: 17. YbCoin------- ($04.71: $4.81 mn) + 55.3% 22. Unobtainium ($12.23: $1.82 mn) + 48.4% 30. Particle------- ($.0016: $1.10 mn) +23.7% == > source: http://coinmarketcap.com/ = Link to comment Share on other sites More sharing options...
drbubb Posted February 10, 2014 Author Report Share Posted February 10, 2014 I bought my first (partial) Bitcoin yesterday at $700. I was ready to pull the trigger earlier, at a cheaper price, but was not set up to do so. It looks like BTS could test the support near bottom of the range (at least) one more time ... update = Link to comment Share on other sites More sharing options...
drbubb Posted February 10, 2014 Author Report Share Posted February 10, 2014 A FLASH CRASH is not the end... for Bitcoins In these just released videos from Dahboo7 and Blaine Cooper and story from Business Insider we learn that Bitcoin has just completely crashed and there is a massive sell-off in progress. With Bitcoin now going down the tubes, what’s next? Is this just another symptom of the global financial collapse that should be telling us that the ‘endgame’ is getting much closer? Bitcoin just completely fell out of bed. The chart below, via BitcoinWisdom, shows the move. The news comes as major trading exchange Mt. Gox says in a new press release that Bitcoin withdrawals remain halted. (On Friday, Mt. Gox issued a statement that amid the volume of withdrawals it was seeing, that it was suspending withdrawals until it could address a technical issue). Mt. Gox was at one point the foremost Bitcoin market site, though its volume and share of Bitcoin activity has declined considerably. Withdrawals in actual currency are working, so traders can get cash out of the site, which is good news. The bad news is that in addition to the direct matter of users not being able to withdraw Bitcoins, they say the technical issue that they’re dealing with is something that pertains to the broader Bitcoin community: The problem we have identified is not limited to MtGox, and affects all transactions where Bitcoins are being sent to a third party. We believe that the changes required for addressing this issue will be positive over the long term for the whole community == > http://beforeitsnews.com/economics-and-politics/2014/02/bitcoin-just-completely-crashed-massive-sell-off-in-progress-2461550.html Link to comment Share on other sites More sharing options...
frizzers Posted February 11, 2014 Report Share Posted February 11, 2014 With perfect timing, DF launches his latest book - on the future of money. I've called it Bitcoin - the Future of Money? . Really, I should have called it 'crypto-currencies - etc', but there is more public awareness of Bitcoin. More here. http://www.youtube.com/watch?v=S-gKmTiEXJU Any help getting it funded would be much appreciated ... Link to comment Share on other sites More sharing options...
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