(01-08-2014 12:52 PM)el mechanico Wrote:  Hey Rosca.
http://www.pcworld.com/article/2085360/k...pired.html

True.

http://www.dailymail.co.uk/tvshowbiz/art...t-hit.html

This just came out today.

The bright side of this is that all of this press only makes the coin even more valuable. If this coin has controversy behind it, then it separates it from the pack of the other coins.

@JJG
It's awesome. They have loads of stupid shit out there. Sexcoin, BBQ Coin. Shit is endless. I'm just sticking with both Dogecoin and the Coinye so far.

@svenski
Like svenski said, trying to mine bitcoins is not going to be easy at all. Maybe a few years ago yeah, but now the average person's $6,000 worth of hardware equipment is not going to stand a chance to a companies $500,000-$5,000,000.

You got a rig? Shit my laptop only mines at like 7 kH/s!

GHash.io closing in on 51% of hashing power BTC network. Now at 38-40%

Cash might be smart if it keeps rising & passes 45%, if it gets higher you can bet some people will panick.

https://blockchain.info/pools

(01-09-2014 12:12 PM)Maciano Wrote:  GHash.io closing in on 51% of hashing power BTC network. Now at 38-40%

Cash might be smart if it keeps rising & passes 45%, if it gets higher you can bet some people will panick.

https://blockchain.info/pools

Thanks for that link b/c in the past several hours, I had seen several news reports about this 51% threat, but I had NOT seen from where they were getting their information about hashing power percentages.

What is curious about the graph provided in the link is that about 17% of the network is unknown, but the website still explains that the unknown hashing power sources are NOT a threat to the network - to suggest that the unknown would NOT be able to team up with GHash IO.

Quote: large portion of Unknown blocks does not mean an attack on the network, it simply means we have been unable to determine the origin.

It may be good if some systems could be put in place in order that NO entity can have hashing power of more than 33% or some lower number, so that NONE can ever get near the 51% feared amount.


EDIT: By the way, I would NOT get into dollars b/c of this GHash io situation b/c it is NOT certain to cause a crash, yet there is a possibility that there could be a drop in BTC price b/c of this.

Looks like miners are leaving Gash.io in order not to give it 51% attack power. The problem is solving itself:

http://www.coindesk.com/bitcoin-miners-d...51-attack/

JJG & TP,

I've been daytrading quite a bit last month and I noticed;
- The Chinese still drive the price: Huobi or BTCChina lead
- The Chinese trade emotionally, not intelligently -- up & down, easily +/-50$ daily.
- MtGox is mostly bots trading, it only tells you what the exchange owners want the price to do for a quick buck.
- Before 0:00 CET, there's usually a small spike Euros anticipating a China dump.
- From 2:30 CET price tends to trend up, so get out of cash.

(01-09-2014 02:38 PM)Maciano Wrote:  JJG & TP,

I've been daytrading quite a bit last month and I noticed;
- The Chinese still drive the price: Huobi or BTCChina lead
- The Chinese trade emotionally, not intelligently -- up & down, easily +/-50$ daily.
- MtGox is mostly bots trading, it only tells you what the exchange owners want the price to do for a quick buck.
- Before 0:00 CET, there's usually a small spike Euros anticipating a China dump.
- From 2:30 CET price tends to trend up, so get out of cash.

My hats go off to anybody who can successfully day trade. If you have found a pattern that works for you (at least for the time being), that is great.

Day trading is definitely NOT my forte - even with your pointers, I am sure that I would screw up day trading, if i were to attempt it.

(01-09-2014 02:51 PM)JayJuanGee Wrote:  

(01-09-2014 02:38 PM)Maciano Wrote:  JJG & TP,

I've been daytrading quite a bit last month and I noticed;
- The Chinese still drive the price: Huobi or BTCChina lead
- The Chinese trade emotionally, not intelligently -- up & down, easily +/-50$ daily.
- MtGox is mostly bots trading, it only tells you what the exchange owners want the price to do for a quick buck.
- Before 0:00 CET, there's usually a small spike Euros anticipating a China dump.
- From 2:30 CET price tends to trend up, so get out of cash.

My hats go off to anybody who can successfully day trade. If you have found a pattern that works for you (at least for the time being), that is great.

Day trading is definitely NOT my forte - even with your pointers, I am sure that I would screw up day trading, if i were to attempt it.

Hey man, see it as game & overcoming approach anxiety.

You can start small, learn by doing & pretty soon you'll be better & better. The first time I tried, I felt like I was throwing money away, but now I just trade easily.

I can still lose, but I gain more. Even if I lose, I learn, so I win.

(01-09-2014 03:41 PM)Maciano Wrote:  

(01-09-2014 02:51 PM)JayJuanGee Wrote:  

(01-09-2014 02:38 PM)Maciano Wrote:  JJG & TP,

I've been daytrading quite a bit last month and I noticed;
- The Chinese still drive the price: Huobi or BTCChina lead
- The Chinese trade emotionally, not intelligently -- up & down, easily +/-50$ daily.
- MtGox is mostly bots trading, it only tells you what the exchange owners want the price to do for a quick buck.
- Before 0:00 CET, there's usually a small spike Euros anticipating a China dump.
- From 2:30 CET price tends to trend up, so get out of cash.

My hats go off to anybody who can successfully day trade. If you have found a pattern that works for you (at least for the time being), that is great.

Day trading is definitely NOT my forte - even with your pointers, I am sure that I would screw up day trading, if i were to attempt it.

Hey man, see it as game & overcoming approach anxiety.

You can start small, learn by doing & pretty soon you'll be better & better. The first time I tried, I felt like I was throwing money away, but now I just trade easily.

I can still lose, but I gain more. Even if I lose, I learn, so I win.

Just as each of us employs variations on the gaming of girls, each of us have different tolerances for investment styles that may suit our skills, personalities and preferences.

I dabbled sufficiently enough into day trading to know that I would prefer to spend my time in other ways - even though, since i started investing in BTC (6 weeks ago), I have been watching these particular BTC and/or crypto-currencies markets a lot more than I had been watching any other market(s) in the past. I still consider that in my BTC investments I am employing a form of dollar cost averaging (that contain some hybrid elements of timing), which, at this time, largely seems to add up to a building up of my BTC holdings strategy.

Surely, there are ways for a guy to be efficient with his time in day trading, and still make money. And, bonus to you, if you find pleasure and reward engaging in day trading activities - NOT This cat... at least, NOT at this time in my life. I may revisit this later in life, but at this point, I get much better and guaranteed income and satisfaction from employing my time and skills in other ways.

I got back in @ high sevens today. I was bored.

Maciano, good work!

It seems that the Overstock news from today is gonna be big for bitcoin. See how this one plays out, but overstock is now live and accepting bitcoin.

(01-09-2014 06:15 PM)JayJuanGee Wrote:  It seems that the Overstock news from today is gonna be big for bitcoin. See how this one plays out, but overstock is now live and accepting bitcoin.

That's why I jumped in temporary though

I agree that it may NOT play out long term, but it is certainly big positive short term news.

My real hope is that as more online retailers accept bitcoin, there will be increasing pressure for Amazon.com to accept bitcoin.

Once Amazon accept bitcoin, shit...you could live off bitcoin since you will be able to buy food, clothing, electronics, etc with bitcoin. It will also allow another way to "cash out" in bitcoin: when the price of bitcoin rises, there will be a rush to buy stuff with the increased purchasing power.

I dropped out at 860 last night with a sell order I didn't think would go. How are you guys doing?

I'm waiting for a crash now maybe get into NMC again.

(01-11-2014 06:40 PM)el mechanico Wrote:  I dropped out at 860 last night with a sell order I didn't think would go. How are you guys doing?

I'm waiting for a crash now maybe get into NMC again.

Surely, I hope that you are correct about an upcoming BTC crash because I keep wanting to buy more BTC – and BTC prices just keeps going up... and all day long has been floating around 900 (and currently). To me, BTC seems to be continuing on an upward trajectory…..

Also, to me, there seems to need some significant bad BTC news first in order to predict a bubble, and there isn’t really any significant bad BTC news, at the moment. I just see good news reports... more and more adoption... more and more news about expansion and acceptance.

Further, I cannot see how Namecoin could be any more special than any of the other alt crypto currencies, in terms of out performing BTC.

It seems that whenever BTC crashes, the alt currencies (the ones on BTC e) crash more than BTC.

On the other hand, some of the other alt currencies (that are NOT listed on BTC e) seem to have an inverse relationship to the price of BTC e… (such as dogecoin, or even master or ripple and various random coins) though I would NOT really claim to know about any specific or regular pattern with those other alt currencies.

I suppose that there are other exchanges that could allow a guy to move in and out of BTC and into one or more of those other alt currencies.... though at what risk? And, also probably some learning curve... but potentially very profitable, if a guy can pick the lucky one... .the coin de jure.

EDIT: BTW, currently, my next BTC buy point is 850; however, it would be even better, if BTC were to drop below 850 for me to be able to buy at a lower price.

Those alt coins may all be crap or whatever but as long as I can cash out fast I'll play with them.

Jay Juan buy your coins but transfer into USD fast and wait until the 31st or so

I have been wondering if anyone uses MtGox on this forum. The news is that MtGox is a real pain in the ass pertaining to how long it takes to get money out, but it could be worth the wait, if a guy were able to cash out at $100 more than other exchanges.




Once you set up a BTC-e account, it is really easy and quick (usually less than 30 minutes) to transfer BTC into BTC-e, and there is NO fee to transfer BTC into BTC-e. I have NOT yet tried to transfer BTC out of BTC-e, so I am NOT sure whether there is a fee to transfer BTC out of BTC-e.

Alternatively, I had looked into various means to get dollars into BTC-e, and a lot of those means seemed cumbersome and/or expensive..... accordingly, I gave up on any attempts to transfer dollars into BTC-e.

(01-11-2014 08:12 PM)el mechanico Wrote:  Those alt coins may all be crap or whatever but as long as I can cash out fast I'll play with them.

Surely, it remains easy and fairly inexpensive (.2%) to exchange any of the 7 crypto currencies on BTC-e. I just have NO clue about how a guy would choose which one and on which day. For example, if I look at a current snapshot in the last 24 hours, PPC, XPM and TRC were the only three that significantly out performed BTC. Pretty much all the others underperformed BTC; however, difficult to know ahead of time, but I suppose that anyone who is following these trends, may be able to either see a trend or to pick up on a trend while watching various news feeds.

(01-11-2014 08:12 PM)el mechanico Wrote:  Jay Juan buy your coins but transfer into USD fast and wait until the 31st or so

I do NOT understand why you continue to engage in this kind of "I told you so" conduct, in spite of numerous times that I have explained over and over and over in this public thread, that I am engaging in a variation of dollar cost averaging.

It makes NO sense that you feel this need to instruct - in order that some day, you may be correct about your prediction of a crash, and you can say that "I told you that you should have gotten out." If BTC goes down, then I am BUYING. I am NOT selling in anticipation, AS YOU ALREADY KNOW based on my repetition and even my sending you PMs on the topic.

Additionally, even though a crash could occur, there is NO clear sign that BTC is going to crash before 1/31 in order to adjust to the Chinese restrictions. And, even if it does, my strategy is to buy on the way down (and sell on the way up, if I were to sell... but I am NOT selling.. as you know). I am continuing to build my BTC portfolio (that is how dollar cost averaging works).

Further, regarding some crash before 1/31, it is possible, but it seems likely that the BTC market has already adjusted for that Chinese news... and that particular crash already took place, largely in mid-December.

MAYBE you are correct, and MAYBE we will see some drying up of BTC exchanges between NOW and January 31 - but I am NOT going to take that chance based on the current BTC news and also based on your merely making that PRICE DROP assertion over and over again. Surely, it is fairly likely, given the volatility of BTC prices, that sooner or later you are going to be correct about some downward BTC price adjustment, yet would it NOT be better to just let the TOPIC be rather than continuing over and over to bring it up, as if every guy were engaged in some kind of BTC investment methodology of attempting to time BTC prices. Surely, YOU already know, that is NOT my strategy.


BTW: I like those headlights on your new avatar.

Why? Because it's foolish. Take what you have and work it. I would never buy a bitcoin for 900 dollars with my own money. You know there will be mass panic around the end of the month, so WHY???

At this point, WE do NOT know whether there is going to be mass panic before the end of the month.

If some reliable information is presented, then I wil consider that in terms of whether I will adjust my strategy.

Your mere assertion, over and over, for about the last month is NOT adequate info for me to change my strategy.

Why suggest that it is foolish, when other strategies may be equally foolish?

If you can point to some source of info, besides your feelings or the troll box, then I may consider making some adjustments to my BTC strategy. Otherwise, it does NOT seem foolish for a guy to stay invested in BTC, either all or in part.

I also think that I mentioned to you, several times, that BTC is only a very small fraction of my total investment portfolio. Accordingly, you are NOT in a position to know what is foolish in my circumstances.

I think we call it live and let live. I am telling guys what I am doing and revealing aspects of my strategy, but I am NOT suggesting that guys are foolish, merely bc they may choose a different strategy or predict a different BTC direction.

I have no idea. If I were to guess I will assume they have no technology to know how much bitcoins anyone have right now. So they rely on honest people sharing their information.

As far as taxation, I think it´s a good thing that they will attempt to tax Bitcoin. I don´t really believe in a world without taxes. So tax on capital gains are fair. The one that makes no sense to me is the VAT tax. Dose this mean miners have to collect VAT when they sell bitcoin? Or is VAT supposed to be collected on every transaction. We still lack some information from the norwegian IRS

JJG bubbles catch people by surprise. You seem to think they are easy to pick out with negative news, they aren't and you most likely wont get a warning.

(01-12-2014 01:48 AM)Jaydublin Wrote:  JJG bubbles catch people by surprise. You seem to think they are easy to pick out with negative news, they aren't and you most likely wont get a warning.

JayDub:

The known and ongoing volatility of BTC is why I am dollar cost averaging.

Generally, my plan has been to buy more BTC when BTC prices are going down and to buy less BTC when prices are going up. I have never stated that I can predict any bubble or denied that currently we could be in a bubble or attempted to time any thing related to BTC except to buy more BTC as the prices are going down and to buy less BTC as the prices are going up.

I have fairly thoroughly explained my BTC investment methodology, which seems to be consistent with standard investment strategies that invoke dollar cost averaging and a hybrid form of dollar cost averaging (my investment strategy is hybrid b/c I began by making my investments daily - yet recently, I have moved less frequently and I am largely front loading my investment within a dollar cost averaging framework).

On the other hand, several other guys in this thread seem to be attempting to time this and suggesting to get out of BTC at times when they believe BTC prices may be going down (El Mech specifically). I have NO problem with guys choosing to get out of BTC; that remains their choice. I am NOT suggesting that any of these guys are fools b/c of their investment strategy.... b/c it seems to me that guys here should be able to make their choices about how to invest in BTC without being ridiculed for their choice and without being referred to as foolish.

What about you? Are you in BTC or NOT? And, what are you suggesting to do regarding BTC?

What's your BTC investment strategy, if any? Have you read my posts regarding my understanding of my BTC investment strategy methodology through this thread? Do you have constructive criticism about how I may consider tweaking my BTC investment strategy? I do NOT mind tweaking my investment strategy, if it makes sense to me, yet currently, I am of the believe that my investment strategy is working out pretty well.

I have been employing various forms of dollar cost averaging for more than 25 years - though this BTC investment has brought unique circumstances, especially, b/c internet monitoring and investing has caused unique tracking abilities and also a unique ability to easily engage in 24/7 investing, if desired - which such rapid and direct investing abilities were NOT readily available to me in the past.

Watch Huobi like a hawk. That places sneezes and except 100 dollar drop.

(01-12-2014 10:44 AM)el mechanico Wrote:  Watch Huobi like a hawk. That places sneezes and except 100 dollar drop.

And, how does a guy watch Huobi? Is there some kind of timely manner of accomplishing such?