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Started By
Message
re: Will Bitcoin be built under rather than on top of?
Posted on 2/10/14 at 10:11 am to LSURussian
Posted on 2/10/14 at 10:11 am to LSURussian
quote:
I'm sure wiki is just dying to explain it to us.
Actually he usually doesn't explain shite to us because he thinks we are trolls and too stupid to understand the technical aspects of it.
1
Posted on 2/10/14 at 10:15 am to Broke
oh c'mon wiki has been a very good sport with this.
Posted on 2/10/14 at 10:28 am to C
Even zerohedge is piling on.
Bitcoin Flash Crashes, Drops By 80% In Seconds.
quote:
Now that Bitcoin exchange Mt.Gox has terminally discredited itself following the latest, and likely last, withdrawal halt announced late last week which sent the value of Bitcoin tumbling by 25%, Bitcoin traders are left with just two exchange options on which to transact: BTC-e and Bitstamp. And for those using the former to buy and sell the virtual digital currency, things went from bad to worse a few short hours ago, when Bitcoin had its very own "Waddell and Reed" moment, when the price of Bitcoin cratered by over 80% in the span of seconds, after a modest block of just under 6000 Bitcoins sent the price plunging from over $600 to $102.
quote:
And since digital currency advocates have finally realized they can't hold the electronic 1s and 0s in their hand in a worst case scenario, the biggest winner of the latest Bitcoin crash is none other than the real alternative currency (in Paul Singer's words), gold, which moments ago just hit a one month high and rising.
Bitcoin Flash Crashes, Drops By 80% In Seconds.
This post was edited on 2/10/14 at 10:42 am
Posted on 2/10/14 at 10:45 am to WikiTiger
quote:How did we misunderstand the reported low trade price of $102? What was the context that led to our misunderstanding? You quoted people who took advantage of the drop in price. It must have occurred. The explanation for why it occurred was not any of our conclusions, but the conclusions of those we have been led to believe are experts in Bitcoin matters by people such as yourself.
It's funny watching y'all flail about in your misunderstandings of everything related to bitcoin.
At least we are consistent in our arguments. It is you who have had to change yours as evidence mounts that your claims have been at the least exaggerated if not downright false.
quote:So just where does bitcoinity get its information regarding trades on BTC-e? Here is a link to another site that shows a 24 hour low price on BTC-e of $245.00. LINK Is this site also reporting false information?
FYI, BTC-e has no ability to "change" bitcoinity, and FYI bitcoinity still shows $102 as the low on BTC-e. But you go ahead and keep trying to wrap your head around things you don't understand. One day you'll get it.
Posted on 2/10/14 at 10:51 am to Poodlebrain
Someone's trade bot triggered and instantly panic sold their stash of 6000 btc all the way down to $102 on btc-e. I was awake and watched it happened very early this morning. It was $102 not even long enough for me to refresh before it went back to $500+ or wherever it was during the dip last night.
I bet that guy woke up and shite his pants though.
I bet that guy woke up and shite his pants though.
Posted on 2/10/14 at 10:53 am to ILikeLSUToo
quote:
I bet that guy woke up and shite his pants though.
But hey, one of the beauties of Bitcoin is that the error transaction can be correcte...........oh wait, yeah he's fricked. No do-overs in btc
Posted on 2/10/14 at 10:56 am to ILikeLSUToo
I saw this happen as I got off work. Wild shite. I had a friend who trades on BTC-e but unfortunately he didn't get in on the coin dump.
I actually called a friend at about 6AM to tell him that prices were down in the $500s and in the ten seconds I was on the phone they had jumped to about $620.
Fortunately they were more stable after that so I got to sleep some.
I actually called a friend at about 6AM to tell him that prices were down in the $500s and in the ten seconds I was on the phone they had jumped to about $620.
Fortunately they were more stable after that so I got to sleep some.
This post was edited on 2/10/14 at 11:02 am
Posted on 2/10/14 at 11:10 am to WikiTiger
quote:
WikiTiger
You're not going to answer my disintermediation post, are you... :sadbanana:
Posted on 2/10/14 at 12:41 pm to joshnorris14
Bill Gates in an AMA today:
Q: What are your thoughts about cryptocurrencies like Bitcoin?
A: The foundation is involved in digital money but unlike Bitcoin it would not be anonymous digital money. In Kenya M-pesa is being used for almost half of all transactions. Digital money has low transaction costs which is great for the poor because they need to do financial transactions with small amounts of money. Over the next 5 years I think digital money will catch on in India and parts of Africa and help the poorest a lot.
Source: https://www.reddit.com/r/IAmA/comments/1xj56q/hello_reddit_im_bill_gates_cochair_of_the_bill/
Q: What are your thoughts about cryptocurrencies like Bitcoin?
A: The foundation is involved in digital money but unlike Bitcoin it would not be anonymous digital money. In Kenya M-pesa is being used for almost half of all transactions. Digital money has low transaction costs which is great for the poor because they need to do financial transactions with small amounts of money. Over the next 5 years I think digital money will catch on in India and parts of Africa and help the poorest a lot.
Source: https://www.reddit.com/r/IAmA/comments/1xj56q/hello_reddit_im_bill_gates_cochair_of_the_bill/
Posted on 2/10/14 at 12:43 pm to BennyAndTheInkJets
quote:
You're not going to answer my disintermediation post, are you... :sadbanana:
Nope. Because it'll result in our political differences being brought up and there's no point going there again. I disagreed pretty much with everything you said if it makes you feel any better though.
Posted on 2/10/14 at 12:44 pm to WikiTiger
quote:
I think digital money will catch on in India
I could see this.
quote:
parts of Africa
Won't happen in the poor areas he's referring to.
Posted on 2/10/14 at 1:31 pm to WikiTiger
I've said all along that I think digital currencies are inevitable, but they will be currencies issued and regulated by governments. His comments are definitely not anything positive about Bitcoin. In fact he touts an alternative to Bitcoin.
Posted on 2/10/14 at 1:52 pm to WikiTiger
quote:
Nope. Because it'll result in our political differences being brought up and there's no point going there again. I disagreed pretty much with everything you said if it makes you feel any better though.
If this were some question you were asking us, you would now claim our refusal to answer the question as a victory and proclaim it to anyone who would be willing to listen.
Posted on 2/10/14 at 1:53 pm to Poodlebrain
quote:
I've said all along that I think digital currencies are inevitable, but they will be currencies issued and regulated by governments. His comments are definitely not anything positive about Bitcoin. In fact he touts an alternative to Bitcoin.
I think we've all said this. And I'm sure we all agree that it will be regulated somehow.
Posted on 2/10/14 at 1:53 pm to Poodlebrain
I noticed you didn't post that through a government administered intranet.
Posted on 2/10/14 at 2:23 pm to Broke
quote:Ditto.
I've said all along that I think digital currencies are inevitable, but they will be currencies issued and regulated by governments. His comments are definitely not anything positive about Bitcoin. In fact he touts an alternative to Bitcoin.
I think we've all said this. And I'm sure we all agree that it will be regulated somehow.
Posted on 2/10/14 at 2:23 pm to WikiTiger
quote:
Nope. Because it'll result in our political differences being brought up and there's no point going there again. I disagreed pretty much with everything you said if it makes you feel any better though.
How exactly can you disagree with it? Transaction costs have gone up after the disintermediation of dealers? I'm not sure how you can look at a number that is higher than the other and say that it is not higher?
Wiki this is the portion I just cannot agree with you on. Its just like the pre and post central bank recessions. I don't know how you can look at data with the basic, understood context and say it is something different.
This post was edited on 2/10/14 at 2:29 pm
Posted on 2/10/14 at 2:24 pm to joshnorris14
quote:This is a weak response, even for you....
I noticed you didn't post that through a government administered intranet.
Posted on 2/10/14 at 2:26 pm to BennyAndTheInkJets
(no message)
This post was edited on 2/10/14 at 2:31 pm
Posted on 2/10/14 at 2:58 pm to OnTheBrink
Wiki: This is the future. It simplifies everything.
Person A: OK so tell me about X,Y,Z?
Wiki: You are too stupid to understand.
Person A: OK so tell me about X,Y,Z?
Wiki: You are too stupid to understand.
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