Jump to content
Sign in to follow this  
drbubb

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

Recommended Posts

yep - but it is bouncing back now ... update - though on fading volume... It will slide again, I reckon

 

uotn.png

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

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."

Share this post


Link to post
Share on other sites

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

handscan.jpg

 

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

Share this post


Link to post
Share on other sites
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.

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites
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?)


Share this post


Link to post
Share on other sites

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):

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.
cleardot.gif
cleardot.gif
+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?
cleardot.gif
Dominik Zynis
they 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
cleardot.gif
cleardot.gif
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/notice20131220

As for them moving to Hong Kong, there's no evidence for that.


Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites
Robocoin, The Bitcoin ATM, Is Heading To Hong Kong And Taiwan



56% of Bitcoiners Believe the Bitcoin Price Will Reach $10,000 in 2014


Share this post


Link to post
Share on other sites

"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

 

o7ur.png

 

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

 

v5qe.png

 

Be Careful - since we might get a REVERSAL in the cycle in Mid-Jan. - a high, not a low.

Share this post


Link to post
Share on other sites
Latest Bitcoin Reports


:: Bitcoin Report Volume 73 (Cryptographic Disruption - Part 1)

=
=



Share this post


Link to post
Share on other sites

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)

Share this post


Link to post
Share on other sites

"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

 

gyuf.png

 

+ When a price is holding, but without volume, a bubble cannot hold up for long

Share this post


Link to post
Share on other sites

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
THAT was on a 10-12% drop, it would seem.
It is still #6 :
SEE MarketCaps: http://coinmarketcap.com/

Share this post


Link to post
Share on other sites

It might also make sense to look at Volume measured in USD.

 

The picture would look very different

Share this post


Link to post
Share on other sites

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

=

Share this post


Link to post
Share on other sites

From DrB's Diary - for the historical record here

 

 

The Action is still in Falling Bitcoins !
Back down to $631, in light volume :
BTC-24HR-LG.png
Bitstamp-5day chart ... update
z4qi.png
Longer term - as of yesterday ... update
b2u1.png
=
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%
==

 

=

Share this post


Link to post
Share on other sites

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

 

1ff3.png

=

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

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 ...

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

×