Hintergründe zum Bitcoin-Crash bei Mt. Gox (Update zum ...

I know you guys don't like TA but the RSI on the daily BTCUSD-chart is as low as August 2015 which was the last dip before the long bullrun began and the bear market of the MtGox crash ended. Just sayin' /r/Bitcoin

I know you guys don't like TA but the RSI on the daily BTCUSD-chart is as low as August 2015 which was the last dip before the long bullrun began and the bear market of the MtGox crash ended. Just sayin' /Bitcoin submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

ETX officially announced to change the algorithm, here is a straightforward analysis about the influence

ETX officially announced to change the algorithm, here is a straightforward analysis about the influence
More dispersed computing power, which means that the coins will be further dispersed, and the value will be less controlled and influenced by a few people who controlled many coins. From the above examples of Monero and Monero Classic , we can see that changing the algorithm is a great positive signal for ordinary community users
According to the latest announcement on the official website of Ethereumx·NET (ETX), "Notice about the upcoming change of ETX algorithm and the opening of the testnet '', ETX will change the algorithm within the next 1-2 months. The reason is that the current large computing power miners pose a threat to ETX's long-term ecological planning in the future, because the large computing power mining has caused a very high concentration of chips. This can be seen through the blockchain browser. The future It may take time to balance the number of head coin holders and slowly digest with price space and time.

https://preview.redd.it/xtfbx9wbe6b51.png?width=624&format=png&auto=webp&s=386ccbcb51a658db2db07609152406df1c0927e3
Just like Bitcoin, there were only a few people digging with a computer at the beginning. Later, as the market slowly became aware, and then derived the ASIC algorithm mining machine, as the price increased, some head currency holders slowly reduced their holdings, and slowly reduced the threat they posed to Bitcoin. But even so, there are still an unsolved 200,000 bitcoins in MtGox. Some people even predict that when MtGox closes the case, it will be the crash day of Bitcoin.
It’s impossible for a new currency to go the way which Bitcoin had passed. The market competition environment today is completely different. There are endless new currencies appearing every day, so at the appropriate time to avoid the risk of expanding and taking the lead is necessary. This may be the reason why the ETX development team decided to change the algorithm.
There are many currencies that have changed the algorithm, and most of the results are relatively good. For example, Monero (XMR), Monero should be the most successful currency to resist the ASIC algorithm. In the process of fighting with ASIC repeatedly, without exception, the mining machine manufacturers were expelled from the door, ensuring many communities. But Monroe Classic has retained the ASIC-friendly algorithm because it has not changed the algorithm, and almost no one is interested today. We can get a glimpse of their straightforward price performance in the chart below.

  1. Monero with repeated algorithm changes

XMR's price with frequent algorithm changes, data source Coinmarketcap

  1. Asic algorithm-friendly (unchanged algorithm) Monero Classic

XMC’s price with no algorithm changes, data source Coinmarketcap
More decentralized computing power means that the coins are further dispersed, and the value can be less controlled and influenced by a few people. From the examples of Monroe and Monroe Classic above, we can see that changing the algorithm is a great positive signal to the ordinary community users. And the announcement on the official website mentioned that the testnet will be launched before the end of this month, and anyone who’s interested can go to have a look.
ETX developers take precautionary measures ahead of time, which is a manifestation of responsibility for all community users.
Refer to
Ethereumx·NET " Notice about the upcoming change of ETX algorithm and the opening of the testnet "
Coinmarketcap
Monero: GetMonero
*There are risks in the market, this article is not intended as investment advice
submitted by BitRay2077 to u/BitRay2077 [link] [comments]

Even If Bitcoin Was Just $1 It Would Still Function Perfectly As A Currency, Stop Worrying About The Price

Even If Bitcoin Was Just $1 It Would Still Function Perfectly As A Currency, Stop Worrying About The Price

https://preview.redd.it/fknwmx1w96221.jpg?width=890&format=pjpg&auto=webp&s=4adc81ddf527365d626431ea9da438b50ea4c60d
http://genesisblocknews.com/even-if-bitcoin-was-just-1-it-would-still-function-perfectly-as-a-currency/
Most people in the crypto space are fascinated at the price of Bitcoin and stare at the charts all day, in the same way deer are fascinated by headlights. Crypto users, and even the mainstream media, thinks that when the price of Bitcoin goes up that somehow means Bitcoin gets bettehealthier, and when the price goes down that means Bitcoin is getting weaker or about to die. Such people do not understand the point or purpose of Bitcoin, which is to be decentralized peer to peer money. People that closely watch the price of Bitcoin think the purpose of Bitcoin is to be an investment, and while it is true that Bitcoin can be an investment, that is not the purpose of Bitcoin. The idea that Bitcoin’s sole purpose is to be an investment is a contagion in the crypto space that must be eradicated.
The truth is, Bitcoin works perfectly as a decentralized form of money no matter what the price is. Bitcoin could even be $1 and the network would function perfectly fine, and people would still be able to buy goods and services instantly and securely with Bitcoin. Indeed, Bitcoin went as low as 1 cent on Mt. Gox in late 2010, and it is not like Bitcoin died; Bitcoin flourished after that point.
Even if Bitcoin was worth $1 each, it would still be better than fiat currency like the USD, since Bitcoin’s price has no relevance to its true value. The value of Bitcoin stems from its decentralization, and Bitcoin’s impregnable cryptographic security ensures that decentralization will not be infringed upon. No government or entity can control or print Bitcoin, no matter how much they want to. Bitcoin exists on every computer that runs a Bitcoin node, and cannot be destroyed unless every node is destroyed at once, an impossible task. Bitcoin can only be generated via mining, and the maximum supply of Bitcoins will never exceed 21 million. This is unlike fiat currencies which can be printed at will, and printing fiat effectively steals money from everyone else in the world that holds that fiat. Money printing and the resulting fiat devaluation is a primary reason as to why most of the people in the world cannot accumulate wealth. If Bitcoin was adopted as the primary global currency, people would be able to save money without getting robbed every day by the government printing press.
Ultimately, Bitcoin is a superior form of money, and will inevitably become the primary global currency. This is because the USD, the fiat currency which is the cornerstone of the entire global fiat system, will inevitably reach a state of critical hyperinflation due to the out of control United States debt which now exceeds USD 21 trillion. The government is stuck between a rock and a hard place. If they decrease the debt by slashing the budget, the economy will collapse. If they keep the budget the same, the debt issuance and money printing needed to sustain the budget will definitely cause the USD to exponentially devalue at some point in the not so distant future, which would collapse the economy.
If Bitcoin somehow crashes to unimaginable numbers, like $100 or $1, it would still be the currency everyone flocks to when the USD and all other fiat currencies totally become worthless. Therefore, true Bitcoiners need not worry, Bitcoin’s day will come no matter what its price is in the near future. You can stop staring at the charts now.
submitted by turtlecane to CryptoCurrency [link] [comments]

Core/Blockstream is *not* Bitcoin. In many ways, Core/Blockstream is actually similar to MtGox. Trusted & centralized... until they were totally exposed as incompetent & corrupt - and Bitcoin routed around the damage which they had caused.

Core/Blockstream can't/won't grow any more.
Bitcoin is growing - and the only way it can continue to grow is for Core/Blockstream to get out of the way.
Core/Blockstream doesn't have any solutions for the graphs below - but that's their problem, not Bitcoin's:
https://blockchain.info/charts/n-transactions?showDataPoints=false×pan=all&show_header=true&daysAverageString=7&scale=0&address=
https://tradeblock.com/bitcoin/historical/1w-f-txval_per_tot-01071-blksize_per_avg-01071
Just click on these historical blocksize graphs - all trending dangerously close to the 1 MB (1000KB) artificial limit. And then ask yourself: Would you hire a CTO / team whose Capacity Planning Roadmap from December 2015 officially stated: "The current capacity situation is no emergency" ?
https://np.reddit.com/btc/comments/3ynswc/just_click_on_these_historical_blocksize_graphs/
Core/Blockstream has no solutions to these problems - because they don't want to solve them:
Lesser known reasons why Core developers want to keep block size small, in their own words
https://np.reddit.com/btc/comments/473i0h/lesser_known_reasons_why_core_developers_want_to/
https://medium.com/@elliotolds/lesser-known-reasons-to-keep-blocks-small-in-the-words-of-bitcoin-core-developers-44861968185e
But Bitcoin does have solutions right now. For example, one solution is already installed and running on over a thousand nodes:
Be patient about Classic. It's already a "success" - in the sense that it has been tested, released, and deployed, with 1/6 nodes already accepting 2MB+ blocks. Now it can quietly wait in the wings, ready to be called into action on a moment's notice. And it probably will be - in 2016 (or 2017).
https://np.reddit.com/btc/comments/44y8ut/be_patient_about_classic_its_already_a_success_in/?ref=search_posts
So, remember to be precise in your phrasing and your thinking:
"Bitcoin" isn't dying.
"Core/Blockstream" is dying.
That's all that's happening here.
Yes it could get ugly for a while.
The death of Core/Blockstream could get as ugly as the death of MtGox.
In both cases, people trusted a centralized institution which thought that it could control Bitcoin forever.
And then that centralized institution was revealed to everybody as incompetent and corrupt and rotten to the core.
People who had placed their trust in that centralized institution got hurt bad - but the people who hadn't trusted that institution, came out fine.
If you're part of the crowd that's been complaining about Core/Blockstream for these many months - that's the same as being part of the crowd that was complaining about about MtGox for many months.
Consider yourself one of the informed. Just like the people who didn't trust MtGox, the people who don't trust Core/Blockstream will emerge unscathed after this crisis is past.
But people who trust Core/Blockstream are gonna get hurt:
The Nine Miners of China: "Core is a red herring. Miners have alternative code they can run today that will solve the problem. Choosing not to run it is their fault, and could leave them with warehouses full of expensive heating units and income paid in worthless coins." – tsontar
https://np.reddit.com/btc/comments/3xhejm/the_nine_miners_of_china_core_is_a_red_herring/
As long as people continue to trust Core/Blockstream, the network will start to get clogged, and the price could crash - or just stay flat, as Bitcoin's expected price rise due to the halving, collapsing fiat financial markets, NIRP (negative interest rate policy from governments and banks) etc. gets cancelled out by Core/Blockstream's stalling and incompetence.
3 months performance of Dow Jones, NASDAQ, S&P500, FTSE 100 (UK), DAX (Germany), Nikkei (Japan), Shangai Composite (China), Gold, and Bitcoin (cross-post from /BitcoinMarkets - original post by brg444)
https://np.reddit.com/btc/comments/45u8cf/3_months_performance_of_dow_jones_nasdaq_sp500/
Once Core/Blockstream's failure/refusal to scale causes enough damage to make the majority of people understand that Core/Blockstream is not Bitcoin - then people will wake up and reject Core/Blockstream's failure/refusal to scale.
And remember, scaling for the next few years is easy: just change a 1 to a 2 in the code. Or set it to some average or median based on the previous blocks.
BitPay's Adaptive Block Size Limit is my favorite proposal. It's easy to explain, makes it easy for the miners to see that they have ultimate control over the size (as they always have), and takes control away from the developers. – Gavin Andresen
https://np.reddit.com/btc/comments/40kmny/bitpays_adaptive_block_size_limit_is_my_favorite/
There are plenty of simple scaling solutions solutions like this available (Classic, BitPay's Adaptive Block Size Limit).
Core/Blockstream thinks it can dominate Bitcoin by throwing around money and lies while they ignore users' needs - and certain people appear to be gullible enough to actually trust them (e.g. Chinese miners signing meaningless loyalty statements at 3 AM at some roundtable in Hong Kong).
But Satoshi carefully designed the incentives of Bitcoin so that it will always route around that kind of centralization and corruption.
As an investor, you're the one in control. The miners only provide a commodity (timestamping of transactions), and the devs only provide code (which is open-source, so it can easily be modified to suit our needs).
Forkology 301: The Three Tiers of Investor Control over Bitcoin
https://np.reddit.com/btc/comments/3t4kbk/forkology_301_the_three_tiers_of_investor_control/
https://duckduckgo.com/?q=site%3Abitco.in%2Fforum+spinoff
You still have X bitcoins on the Blockchain and there isn't a damn thing Core/Blockstream or the Chinese miners can do to change that.
submitted by ydtm to btc [link] [comments]

Erowid, a non-profit drug educational organization, gives a detailed look at how they used Bitcoin as a source of donations since March 2011

I recently sent Erowid a question about their Bitcoin donations (the quoted parts) and I got an extremely detailed reply about their history with Bitcoin donations. Thought I would share.
But first, here is a link for donating with a wide range of crypto-currencies.
I'm a regular user of Erowid and have donated some in the past and just some today: https://blockchain.info/tx/5fb862085e0803458d9e9e6ad97eebbc50c90132b161316913382249702dce46
Thanks! We really appreciate it. Bitcoin is one of the most useful and interesting new payment systems since zero-fee paypal in 1999, which has ended up nothing at all like it started. It's now a very useful email-address-based gateway to the giant international VISA/MC conglomerate. It's a handy system, but that whole transaction skimming conspiracy is a little disturbing, costly, and monopolistic.
I was looking at your address and see that it is only a month old, yet you have been accepting Bitcoin since Mar 2011. In the spirit of openness I'm curious about why you changed addresses and
Many Bitcoin advocates and technologists state that a new address for every transaction is actually the right way to improve privacy and to firewall tracking of payments and transactions. I believe that viewpoint is kind of the opposite of openness, it is based on trying to keep people's transactions more private, despite the entire BTC blockchain database being fully public and exposed.
I spent some time a couple years ago trying to get a server-based wallet set up that would generate a new address for each transaction and it wound up being a lot harder than I could get working reliably. The more unique addresses, the less erowid donors are tied together, thus a little more privacy. We will try again at some point.
Currently, we keep a local bitcoin wallet and backups and rotate the BTC addresses every month or three, depending on a variety of factors.
and how much you received on your previous ones. Also I would like to know if you hold a fraction of Bitcoin or convert all to fiat directly.
At the moment, I can give you a rough outline of how we choose when to sell bitcoins. It different than people who are on the buying end. We have always conceived of BTC as 'micro donations', but some number of people over the years (let's say 30) have asked directly to pay for a membership with BTC instead of other methods. In order for that to make sense as an organization, we need to convert those bitcoins around the time of the donation so that the donation in bitcoin results in the amount near the dollar value that the donor was offering.
So, for a t-shirt that might be a $45 donation. If/when that happens, we transfer the appropriate number of bitcoins out on or near that day to convert BTC into USD. Then we can enter that person's donation into our donation system and the accounting matches up: person gets a $45 membership, we get $45 into our bank account. Accounting is fun! :\
Further, because we are entirely a donation-based non-profit, we are always in the position of trying to have BTC donations be of non-zero USD value to the organization. That means selling them at some point. The question of when to sell them is obviously complicated.
One can view BTC as a deflating currency or an investment or a security or maybe a commodity.
We are generally conservative about them and have mostly sold the BTC we've received within a few months of their donation in order to generate USD for the organization. So, say we got 1 bitcoin 2 years ago when they were worth $30 each. If it wasn't tied directly to getting a sweatshirt or otherwise needed to wind up as a row in our banking records, I would hold onto to the coin and wait for a time when the value of BTC was going upwards and sell that bitcoin for more than it was worth when we received it. But I did not hold onto them for years, since that defeats the purpose of supporting the organization and it locks up the bitcoin trading market if everyone holds and never sells.
However, the goal is always to wind up with money in the bank sooner rather than later, since we run a business.
As far as previous addresses go, I believe that the reasoning behind the privacy concept is NOT to give out previous addresses, though obviously it's a tiny figleaf.
We sold 1 BTC last week when the value hit $500 and another this week when the value hit $600 and will probably sell again if the price continues to rise. If I had a completely configurable trading system, I would likely set a sell order for 1BTC at $675 OR sell 0.5 BTC in 14 days if the price is >= $600. My reality is that I have to make the sales manually, because I don't have a reliable trading site that delivers to my US bank.
The vast majority of total bitcoins we've sold were sold for under $30 a piece. When we opened our first bitcoin address to check out the system, The Faucet gave me 1 BTC just to help get the ball rolling. Obviously such things no longer exist and we're in a period where bitcoins are both volatile AND valuable.
We had one donor give us some bitcoin back in early December and requested we wait to sell it until it hit $1200, but ALSO required that we open a separate account at a bitcoin trading company that took two weeks to complete as the company confirmed our banking information and identity, etc. By the time we'd gotten the new account set up, we were well into the price crash and so we are holding onto that bitcoin for some future price that is closer to what the person donated it at.
On the other hand, we received several BTC last september when they were in the 100-200$ range and we sold all of those at between $800 and $1200 each in late november and early december as the price was running up. That was actually during the fall of MtGox who was our only trade location until October, 2013. I had initiated a sale of two bitcoins in early September and six weeks later, MtGox had not deposited the money in our account and had no estimate for when they would do it. Happily, they credited my account the USD, I bought BTC, and moved them back to an offline wallet.
I'm not sure how to be both transparent AND private, but I can tell you the current address is typical of better months from the last year. We currently get a few hundred dollars a month in BTC, unless we're doing a big fundraising push, in which case we get double or triple that.
With the price increase in the last 14 days, May was a good month.
Happy to answer more questions and chat about how we manage bitcoin, but the main concepts to keep in mind are : trying to limit the exposure of blockchains for privacy reasons, trying to optimize for USD coming into our budget, generally being conservative so we will choose to sell rather than hold bitcoins, and having a rule of never selling all our bitcoins but selling off parts of what we receive over time to reduce risks and exposure.
We currently use coinbase and bitpay, after having gone through 10 or so different BTC->USD systems. What we need is reliable and stable and most of the others have run afoul of the federal money cops in the US and have been shut down or had their banking connection shut down.
I'm always interested in recommendations for other trading / sales sites, but we need one that can deposit into a US bank for it to be useful for erowid center. And we need one that is stable, represents a real business, and is unlikely to poof into a cloud of oily smoke.
I see today we got a .01 and a .05 bitcoin donation to the current address, bringing our total for the last month up to .654 ish, which is great! With the price heading upwards (rather than hovering at $400), that's actually a useful amount of money. Thanks!
Looking at the charts today, it seems like a lot of people decided to start selling as the price hit 650+ and so the price had a small crash today while I wasn't paying attention.
Anyway, hope some of that is useful. Erowid Center's budget (income and expenditures) are all public information, but our list of donors is not and we do what we can to protect the privacy of the people who choose to support our controversial project.
Thanks again for your contribution! Hurray that you didn't have to pay VISA 0.35 + 2% to do it.
earth
submitted by cybrbeast to Bitcoin [link] [comments]

LTC is fine and Jihan Wu will get what he deserves one day!

It's time to stop looking at the charts for a while and come back in a few weeks!
It's important to see the positives: -BTC is currently over 1200$ and holding strong. (probably getting ready for another huge bullrun)
-LTC hast close to 4 Million $ buy orders on Btc-e. (Yes it's 3.6 to be precise)
-LTC/BTC has 600 BTC buy support compared to 100 a few weeks ago... (Keep in mind these values change but it's def. looking good.
-Anyone who is comparing this to the crash from 8$ a Year ago to 4$ is tripping hard. LTC is a very different spot today and if you think it will crash back down to 4$ think again.
-Half of the Bitcoin community wants to see Segwit on LTC (maybe more than half). If you just go to Bitcoin you will see that there are a lot of discussions regarding segwit and Litecoin.
-Anyone who has been around since 2012-2013 knows something is going on. The signs are all there. So stop looking at the charts and just relax.
Sigwit is going to happen sooner or later. Remember folks, the miners have been around since 2013 for the most part... They know its probably a good idea to scoop up as MANY cheap LTC as possible. (Remember back in the day when mtgox got ddodsed so that the BTC price would fall? Well look where we are now...Jihan can't stop Segwit on LTC, all he can do is delay it and scoop up more coins)
-Relax and enjoy the rollercoaster. Shit is probably going to go nuts. To the m00n :)
submitted by solarcoiner to litecoin [link] [comments]

/r/bitcoin in full meltdown.

Backstory: Recently, one of the largest Bitcoin exchanges said they weren't letting people withdraw Bitcoins due to technical issues (a process called "transaction malleability," which I can't really explain but has been known for awhile). This caused much consternation and a precipitous drop in the value of BTCs. This exchange also released a statement blaming Greg Maxwell, one of the original Bitcoin developers for the "technical issues" they were having.
This has caused much drama.
Keep calm, transaction malleability is not double spending. One of the big "selling points" of Bitcoin is that you can't double spend. As the name suggests, double spending is when you spend the same money twice. It's bad for business and good for thieves.
So Gox decided to take the Bitcoin ship down with them blaming their shortcomings on well known and documented protocol limitations. Shame!
so gox can buy cheat coins to make up for the loss.
That's right, folks, this exchange is crippling their business and reputation...so they can sink the cost of Bitcoins so they can buy them more on the cheap.
Mt Gox's incompetence once again puts BTC on sale? I'm not complaining.
Yep, my buttcoins just dropped in value 20%, but IDGAF because I'm gonna buy more.
You make it sound a lot less apocalyptic than the MT Gox press release did. To the top with you!
TO THE MOON!
Wow, fuck Mt Gox
They just purposefully spread FUD throughout the bitcoin world for the sole purpose of diverting attention while they fix their shit. This transaction malleability thing has been known for a long time and has plenty of easy ways to work around it, like just look and see if there's a double spend attempt on outputs before auto-crediting your internal books. The fact that Gox's shitty coding didn't do that is entirely their fault, and instead of owning up to it, they're trying to cause an earthquake of FUD to divert attention and buy themselves time. That's not just sneaky, that's truly evil. Fuck them. Fuck them so much.
/rant
FUCK THEM THIS PR MOVE IS LITERALLY EVIL. Now, I tend to save concepts of "good" and "evil" for actions that have a considerable moral weight, like when some piece of shit steals my parking spot, but this takes the cake. I speculated invested in a volatile commodity and my speculation investment has tanked, so I'm totes raging about it on Reddit.
Tin foil hat time.
What if a bunch of BTC got stolen and MtGox knows this. So they make FUD that blames bitcoin protocol knowing it will crash the price. They then take USD and buy up cheap bitcoin to cover the BTC that got stolen. What if this new USD will actually drive the price to new HIGHS!
What the hell. I couldn't even satirize this properly. (TO THE MOON)
What the f$#% is the BTC Foundation doing? Kick Mark Kerpopples off the board. Mark Karpeles is the CEO of Mt. Gox.
If your going to claim to be the representative entity for Bitcoin then act like it. Otherwise you are just as big of a joke as that incompitent twit Mr Krabapple bouncing around on his blue ball. I mean, Jesus H. tap dancing on a crispy truiscuit Christ, do something, anything, or gtfo.
*Edit: Help us Obi-Wan Antonopoulos, you're our only hope.
He's literally tanking Bitcoin! Let's take a rash action in response to a rash action!
Karppoopels is on the BTC foundation board? fuuuuuuck thats bad.
Karppoopels. Heh.
Anyone else from The Bitcoin Foundation want to shit on Bitcoin some with more negative PR?. Drugs, money laundering, "bugs"…c'mon guys…gun running could be next? or something worse?????. I'm sure you've got plenty more from where Shrem and Krapeles came from.
Krapeles. Lmao!
Oh, btw, turns out that you should do a little background check on anyone you're doing business with before you do business with him.
Andreas: Unanticipated bugs don’t come with year-old wiki pages fully documenting them. Gox is full of shit. Some guy tweets a thing.
Andreas keeping it real, as always.
Bravo, sir!
And:
I fucking love Andreas.
And now to the conspiracy:
Perfectly timed manipulation on the part of MTGox, this news comes as the 3 day MACD happens, (exponential average crosses the average bitcoin price), it hadn't crossed since early 2013, so big movement was to be expected.
You can see it on the 3day chart on bitcoinwisdom, the blue line and brown line crossing, this is a BIG sign for automated trading bots to make a move, in this case the exponential average (indicating the latest movement trend) went below the average, this means the trend is downwards.
So MTgox preps up their sells, sets a weekend climate of "some big news is about to come out on monday, everyone keep an eye on your coins"
Then DROPS the bad news, and BOOM goes the dynamite. we have an epic crash.
Meanwhile MTgox sets up its orders on BTC-E around 200.
Yep, makes perfect sense. Destroying your credibility as a business so you can get them sweet, sweet Bitcoins.
MtGox - Your new cold storage solution
Setup:
>Create MtGox account >Enable 2FA >Send BTC to MtGox 
And you are finished, no one will able to get to your coins, they are perfectly safe. /s
Haha, get it, because you can't withdraw your coins? And this is front page material.
At this point you can even call it cryogenic storage
So cold it's frozen.
Ho-ho, such wit, much funny.
The Bitcoin Foundation, Coinbase, Bitstamp and Blockchain.info need to issue a statement debunking Gox's "bitcoin bug" argument
Most people trust MtGox. It's the oldest exchange, was the most mentioned in the media. Their press release is pure bullshit but it's a subject that's way too technical anyway for most people to grasp. We need other big players to step up and reassure people, or this could be the death of Bitcoin.
And what will happen now?
Go on, sell your bitcoin, and bang your head into the wall when the price goes back up.
In the mean time, I'm enjoying the cheap coins.
Hmmm. If one were a Gox insider, today would've been a good day to buy bitcoins. Either for a personal account or for the company's, in order to cover past fuckups.
Are you concerned about the price of your holdings? I appreciate that we just got cheap coins.
Plus the general hatejerk:
How I look forward to the day bitcoin won't be goxed anymore.
Even those outside of gox managed to get goxxed today.
Gox has done the greatest service & disservice to Bitcoin.
Sounds like Mark is trying to raise more fear. He needs to step down from the Bitcoin Foundation.
I guess most of the other players fear legal problems if they say anything bad about Gox...
And the final jerk:
I'm fed up with Gox's incompetence and purposely damaging language to the Bitcoin community: I'm saying it here, I'm willing to invest $50,000 in a legit U.S. in exchange for 5% of the business. Somebody get ahold of me!
This press release from Gox was incredibly shady and deceitful. The majority of Bitcoin market crashes are because of them. We need to step up. I'm willing to step up. Get ahold of me on here!
I'm willing to invest $50,000 in a LEGIT U.S. Bitcoin exchange for 5% of the business.
We can't stand for this, people. We can't let lies like this affect the Bitcoin community this much
submitted by Slutlord-Fascist to circlebroke [link] [comments]

New peak on Bitcoin Days Destroyed

https://blockchain.info/charts/bitcoin-days-destroyed
Last time this happened, there was speculation about bitstamp moving his cold wallet. Today this may be related to MtGox moving his cold wallet to his hot wallet to solve the insolvency problem with their bitcoin withdraws (or at least that's my best guess).
On the other hand, last time this happened, there was also speculation about a incoming price crash due to the owner of the bitcoins selling them on the market, so i guess this HIGHLY SPECULATIVE post may be useful here.
submitted by T62A to BitcoinMarkets [link] [comments]

11-23 05:03 - 'Congratulations!' (self.Bitcoin) by /u/penguingspe removed from /r/Bitcoin within 1069-1079min

'''
I've been on /bitcoin since bitcoin was under $1. I started watching at $4 and started buying at $32 (it went up 8x in the amount of time it took to fund my coinbase account via ACH). Back then this community was awesome. One of the best, I thought "how could I have missed this great reddit community all these years?!".

Fast forward to today. It seems after the mtgox crash shit changed. I don't know if it was bitcoin getting all the media attention or what, but when Gavin stepped down it basically went to shit. He was keeping afloat the dingy that satoshi had left us.

Back then we had soft forks and the community was still small enough where we could recover from fatal errors. Today, I feel as though I am completely lost, as soon as the wallets get good enough for the layman to use, there's another contentious fork and then we're all left waiting for 6 months to find out where we stand.

And this is coming from a guy who had $600k+ worth of btc at the top last december, only to have it stolen last June. I still gots me 33 BCH though, and now all the charts are dead. I don't give a fuck anymore. The original 33 btc I paid $4k for back in 2012 is now only worth $130k. That's less than a year's salary for me, even though its a lot of money, its not even enough to buy a house in the bay area.

I've decided to stop giving a fuck. I started consulting for crypto companies the past 6 months to get a better read on where things were headed since this place is worse than The_Donald now.

All the tokens I got paid and held are in the shitter, which is my own fault, I know I took the risk, but I'm done throwing away money. I'm running out of monopoly money.

Hopefully 2019 brings us something new, but with APH closing their DEX due to regulations I feel this is only going to continue unless we go with privacy coins which are untraceable.

And before one of you hooligans shouts "Oh yeah sure, 2 month old account" I use tor and create new accounts every 6 months to remain anonymous. But I've been on reddit for 13 years and first heard about bitcoin from /libertarian. Back then I thought for sure it was a scam, because all the websites were built with Netscape Gold seemingly.

Anyway, piece out! or peace out. Get a cooler full of something cold and enjoy life, I've lost years due to this nonsense.

Happy Thanksgiving!
'''
Congratulations!
Go1dfish undelete link
unreddit undelete link
Author: penguingspe
submitted by removalbot to removalbot [link] [comments]

Amid a deafening market bubble implosion and repeated exchange crashes, u/smurfmaster over at r/bitcoin suggests adding suicide hotline info to the sidebar

smurfmaster's suggestion for a hotline
Background
After going parabolic for three months, the Bitcoin cryptocurrency speculation bubble worth almost $2 billion popped at $265 Wednesday going as low as $65 ($55 dip this morning) on some exchanges amid extreme volatility. MTGOX, the online exchange handling 80% of transactions (which also claims to have been adding 20,000 accounts a day recently) crashed yesterday due to the huge trading load, was abruptly turned off for 12 hours today to let the market cool down. It again appears to be crashing repeatedly as it tries to reopen. Conspiracies and anger fly as users alternately blame the MTGOX's incompetence, trade volume, DDoS, and occasionally the community itself 1 2 Despite all this, bitcoinbillionaire has pranced about the community, sprinkling btc on unsuspecting users.
According to stattit, the subreddit is the 20th most active in terms of online users (as a comparison, trees is 19th), and was at least 16th most active during the crisis yesterday. Its subscriber rate has also gone parabolic as of late.
Market chart for the last 60 days
Wednesday's crash initially, illustrated
Several of the more extreme speculators 1 2
Previously on SRD
submitted by limitcycle to SubredditDrama [link] [comments]

Subreddit Stats: Bitcoin top posts from 2017-10-15 to 2018-10-14 18:01 PDT

Period: 364.20 days
Submissions Comments
Total 1000 265073
Rate (per day) 2.75 722.33
Unique Redditors 812 63529
Combined Score 3662639 3145604

Top Submitters' Top Submissions

  1. 74796 points, 2 submissions: Tricky_Troll
    1. The last 3 months in 47 seconds. (48474 points, 790 comments)
    2. Bitcoin Doesn't Give a Fuck. (26322 points, 1505 comments)
  2. 50907 points, 3 submissions: LeeWallis
    1. It's official! 1 Bitcoin = $10,000 USD (48506 points, 4587 comments)
    2. It's official! 1 Bitcoin = $10,000 USD (again) (1233 points, 123 comments)
    3. Bitcoin just reached $7,000 USD on GDAX! (1168 points, 359 comments)
  3. 49298 points, 2 submissions: chronic_nervosa
    1. Working Hard or Hardly Working? (25721 points, 326 comments)
    2. Investing Tips from a Pro (23577 points, 598 comments)
  4. 44144 points, 2 submissions: wolfwolfz
    1. It's over 9000!!! (42429 points, 3170 comments)
    2. Mtgox caused 2013 and 2018 crash (1715 points, 425 comments)
  5. 42048 points, 1 submission: buttockpain
    1. Everyone who's trading BTC right now (42048 points, 804 comments)
  6. 41614 points, 3 submissions: PineappleFund
    1. I'm donating 5057 BTC to charitable causes! Introducing The Pineapple Fund (20020 points, 2927 comments)
    2. Farewell from the Pineapple Fund (10944 points, 610 comments)
    3. 🍍 $4mil will fund MDMA trials for PTSD; marked 'Breakthrough Therapy' by FDA. Pineapple Fund is matching MAPS donations 1:1. Reddit, let's make history by crowdfunding an incredible treatment for PTSD, in bitcoin! (10650 points, 558 comments)
  7. 41269 points, 4 submissions: Xtreme110
    1. Bitcoin.. The King (28328 points, 1178 comments)
    2. So here's what actually happened Today. (8542 points, 301 comments)
    3. So Yeah This Happened .. (2330 points, 215 comments)
    4. Did someone Asked for Support levels... (2069 points, 224 comments)
  8. 29323 points, 1 submission: KINNAHZ
    1. I hope James is doing well (29323 points, 1242 comments)
  9. 29123 points, 1 submission: trance929
    1. Weeeeeeee! (29123 points, 1530 comments)
  10. 28063 points, 1 submission: benjaminikuta
    1. Nothing can increase by that much and still be a good investment. (28063 points, 1318 comments)
  11. 27600 points, 5 submissions: Suberg
    1. Rabobank Fined $369M for Money Laundering After Calling Bitcoin a Risk for Money Laundering (14264 points, 312 comments)
    2. Ellen DeGeneres Just Introduced Bitcoin to Her 3 Million US Viewers (7893 points, 619 comments)
    3. Evidence Emerges of CNBC Collusion with Roger Ver, BCash (2665 points, 526 comments)
    4. Reminder: Encrypt and store your bitcoin offline - U.S. Congress Quietly Passes CLOUD Act to Increase Gov't Access to Online Info (1688 points, 277 comments)
    5. 600+ Bitcoin Users Seek Lawsuit Against Bitcoin.com & CEO Roger Ver for Fraud (1090 points, 298 comments)
  12. 26949 points, 1 submission: Kittstar123
    1. This is why I want bitcoin to hit $10,000 (26949 points, 918 comments)
  13. 24897 points, 2 submissions: sunilross
    1. What he would be wishing now? 😂 (22418 points, 954 comments)
    2. Just a few months ago Bitcoin going to $10,000 was a huge celebration Now Bitcoin is at $10,000 and its like the end of the world. What an irony!! (2479 points, 1016 comments)
  14. 24555 points, 8 submissions: TheGreatMuffin
    1. This Bitcoin chart is insane! Oh, wait… that’s actually a chart of US dollar money printing. (8202 points, 1165 comments)
    2. Coinbase Hit With Class Action Claiming Insiders Benefited From 'Bitcoin Cash' Launch (5370 points, 493 comments)
    3. "Anonymous bitcoin donor rains $56 million on stunned nonprofits" (story about The Pinapple Fund) (3331 points, 199 comments)
    4. Odds of winning Powerball (Lottery) vs guessing one bitcoin private key (by @Coinguybri) (2008 points, 260 comments)
    5. Andreas Antonopoulos' depiction of the day he became aware of the donations that made him a millionaire (1878 points, 214 comments)
    6. McAfee doubles down on his promise: "I now predict Bitcoin at $1 million by the end of 2020. I will still eat my dick if wrong." (1387 points, 329 comments)
    7. Federal courts now accepting cryptocurrency for bail (1288 points, 62 comments)
    8. The first Stable version of BTCPay is out: BTCPayServer 1.0.1.1 and NBXplorer 1.0.1.3. Next stable version will include Lightning Network. (by Nicolas Dorier) (1091 points, 103 comments)
  15. 23962 points, 6 submissions: Mobilenewsflash
    1. Difference between New and Experienced Trader (11900 points, 181 comments)
    2. Did you know? I didn't. (4127 points, 294 comments)
    3. Altcoin Master (3555 points, 145 comments)
    4. All we need is this kind of bull run! (2125 points, 122 comments)
    5. Bitcoin isn't the bubble, it's the pin (1199 points, 310 comments)
    6. Simple answer, the right one (1056 points, 230 comments)
  16. 23651 points, 3 submissions: UniqueUsername642
    1. Cheers! (17238 points, 510 comments)
    2. This is Cryptocurrency (5072 points, 371 comments)
    3. Bitcoin Investors be like (1341 points, 335 comments)
  17. 23082 points, 1 submission: jrs0080
    1. Whoever put this up deserves a medal (23082 points, 319 comments)
  18. 23066 points, 1 submission: vindico_silenti
    1. BTC dropping due to lack of quality 11k memes. Closest support line is at 9k Vegeta memes. (23066 points, 820 comments)
  19. 22856 points, 1 submission: danielwilson666
    1. Bitcoin today (22856 points, 1940 comments)
  20. 22657 points, 1 submission: byte_coder
    1. 2018: lets run for office (22657 points, 991 comments)
  21. 22193 points, 1 submission: Hync
    1. Lily Allen turned down 200K in Bitcoins for a gig in 2009 which is worth $1,426,199,000 as of this writing (22193 points, 1293 comments)
  22. 21505 points, 1 submission: paperraincoat
    1. Eleven! (21505 points, 575 comments)
  23. 21044 points, 1 submission: SotakuKun
    1. How To Invest In Bitcoin (21044 points, 634 comments)
  24. 20817 points, 1 submission: MichKOG
    1. Almost everyone now is an Investor (20817 points, 554 comments)
  25. 20647 points, 10 submissions: Bastiat
    1. Day 2: I will repost this guide daily until available solutions like Segwit & order batching are adopted, the mempool is empty once again, and transaction fees are low. You can help. Take action today (5145 points, 766 comments)
    2. Pierre Rochard: "Until your altcoin successfully defeats a coordinated attack like NYA/S2X, with 90% of the hashrate and major businesses trying to force a hard fork, its immutability is untested and its monetary policy is suspect. Bitcoin has earned its keep, its immutability is beyond question" (2249 points, 345 comments)
    3. Day 9: I will post this guide regularly until available solutions like SegWit, order batching, and Lightning payment channels are mass adopted, the mempool is empty once again, and tx fees are low. Have you done your part? (2070 points, 190 comments)
    4. Day 5: I will post this guide regularly until available solutions like SegWit & order batching are mass adopted, the mempool is empty once again, and transaction fees are low. User demand from this community can help lead to some big changes. Have you joined the /Bitcoin SegWit effort? (2017 points, 268 comments)
    5. Day 7: I will post this guide regularly until available solutions like SegWit & order batching are mass adopted, the mempool is empty once again, and tx fees are low. Do you want low tx fees, because this is how you get low tx fees (1959 points, 166 comments)
    6. Day 3: I will repost this guide daily until available solutions like SegWit & order batching are mass adopted, the mempool is empty once again, and transaction fees are low. ARE YOU PART OF THE SOLUTION? News: Unconfirmed TX's @ 274K, more exchanges adding SegWit, Core prioritizes SegWit GUI (1758 points, 220 comments)
    7. Coinbase's short-sighted money grab is @Gemini.com's gain. Trust is the number one concern for new adopters and nobody can trust CONBASE after today (1689 points, 383 comments)
    8. Day 8: I will post this guide regularly until available solutions like SegWit, order batching, and Lightning payment channels are mass adopted, the mempool is empty once again, and tx fees are low. BTC Core SegWit GUI coming May 1, Coinbase incompetence exposed, more exchanges deploy SegWit (1454 points, 177 comments)
    9. Day 6: I will post this guide regularly until available solutions like SegWit & order batching are mass adopted, the mempool is empty once again, and tx fees are low. Refer a friend to SegWit today. There's no $10 referral offer, but you'll both get lower fees and help strengthen the BTC protocol (1193 points, 99 comments)
    10. If every Bitcoin tx was a SegWit tx today, we'd have 8,000 tx blocks & the tx backlog would disappear. Tx fees would be almost non-existent once again. THE NEXT BITCOIN TX YOU MAKE, MAKE IT A SEGWIT TX. DOWNLOAD A SEGWIT COMPATIBLE WALLET AND OPEN A SEGWIT COMPATIBLE EXCHANGE ACCOUNT RIGHT NOW (1113 points, 228 comments)
  26. 20159 points, 1 submission: swahlgren
    1. Danish Bitcoin billionaire new sponsor of professional Danish ice hockey team. Stadium to be renamed "Bitcoin Arena" and get a huge Bitcoin logo in the middle of the ice! (20159 points, 1018 comments)
  27. 20119 points, 4 submissions: bitchari
    1. Value is always in the eyes of the beholder (10999 points, 542 comments)
    2. We did it!! BTC ✌️ (4335 points, 333 comments)
    3. Uncomfortable truths!! (3228 points, 451 comments)
    4. "rat poison" returns!! (1557 points, 234 comments)
  28. 19767 points, 1 submission: Active2017
    1. $7,900+!! (am i doing this right?) (19767 points, 493 comments)
  29. 18709 points, 1 submission: JonathanMauri
    1. Sold some bitcoin to buy my new best bud 🤗 (18709 points, 1752 comments)
  30. 17979 points, 1 submission: crlxzzz
    1. Localbitcoins.com is illegally holding my 9.3 bitcoin on "escrow" since may 2015 (17979 points, 802 comments)
  31. 17806 points, 6 submissions: domelane
    1. FORBES: "South Korea Is Not Banning Bitcoin Trade, Financial Regulators Clarify". (8349 points, 245 comments)
    2. Banks vs Bitcoin (2370 points, 311 comments)
    3. Arizona Senate Votes to Accept Tax Payments in Bitcoin (2363 points, 134 comments)
    4. Visa confirms Coinbase wasn’t at fault for overcharging users (1854 points, 92 comments)
    5. Finally! Coinbase: "Our engineering team has finished testing of SegWit for Bitcoin on Coinbase. We will be starting a phased launch to customers over the next few days and are targeting a 100% launch to all customers by mid next week". (1501 points, 112 comments)
    6. For all the newbies posting: "Bitcoin will crash on Monday! Wall Street is buying to short it to hell!", watch Andreas (Member of the Oversight Board of the CME Futures) to calm your tits. (1369 points, 322 comments)
  32. 17749 points, 2 submissions: BluntLord
    1. possibly the worst thing about this crash... (11631 points, 2540 comments)
    2. Reasons why these price increases are NOT a good thing. no FUD, all facts. (6118 points, 394 comments)
  33. 17228 points, 1 submission: ma_Name_Is_Jefffff
    1. To the new guys, let's see how tough you really are (17228 points, 1371 comments)
  34. 17117 points, 4 submissions: ayanamirs
    1. Don't be this guy (11774 points, 728 comments)
    2. Satoshi Nakamoto about bitcoin.com (2337 points, 313 comments)
    3. SegWit transactions are now 30.71%! (1892 points, 198 comments)
    4. SegWit, Lightning Network, and Schnorr are way more important than the current price. (1114 points, 166 comments)
  35. 16889 points, 1 submission: bitnext
    1. There are 180 different scenarios where bitcoin go. If any one thing happens remember me i am the first one to predict this (16889 points, 452 comments)
  36. 16350 points, 1 submission: YetAnotherCryptoFan
    1. Warren Buffet: (16350 points, 990 comments)
  37. 16128 points, 1 submission: lewjc
    1. Quick analysis of the markets this month (16128 points, 349 comments)
  38. 15721 points, 1 submission: bitiegg
    1. Guys... I'm out... (15721 points, 814 comments)
  39. 15216 points, 1 submission: CryptoCurrencyFreak
    1. The Free Software Foundation has received a 91.45 Bitcoin donation from the Pineapple Fund. Valued at $1 Million USD. (15216 points, 423 comments)
  40. 15144 points, 4 submissions: StoneHammers
    1. exceedingly efficient (7954 points, 205 comments)
    2. Behold my 20 Bitcoin lawnmower bought mid 2012 (4214 points, 289 comments)
    3. This could change everything (1900 points, 68 comments)
    4. Bitcoin today (1076 points, 114 comments)
  41. 14847 points, 1 submission: cryptograffiti
    1. Upvote to get this to the top search result for "Bitcoin CEO." (14847 points, 265 comments)
  42. 14823 points, 6 submissions: Bitzone4
    1. Mood Currently. (6084 points, 448 comments)
    2. Hodlers currently (2882 points, 314 comments)
    3. Lets goooo yes bitcoin (2362 points, 280 comments)
    4. Holders Power (1444 points, 160 comments)
    5. Meanwhile when there's blood in the street. (1032 points, 106 comments)
    6. Who else took the discount opportunity? (1019 points, 209 comments)
  43. 14808 points, 1 submission: ltc-
    1. What a time to be alive! (14808 points, 467 comments)
  44. 14807 points, 1 submission: nrckprth
    1. When you are trying to buy the dip (14807 points, 660 comments)
  45. 14761 points, 2 submissions: zackwong97
    1. Quick grab the offer! (12316 points, 835 comments)
    2. 100 years has past and a new currency was discovered. I believe cryptocurrency can save the world. (2445 points, 221 comments)
  46. 14624 points, 1 submission: lawmaster99
    1. Microsoft joins Steam and stops accepting Bitcoin payments (14624 points, 2163 comments)
  47. 14236 points, 1 submission: kixxaxxas
    1. Yeah! Bitcoin! (14236 points, 496 comments)
  48. 13950 points, 1 submission: EaFaer
    1. Us Senate Bill S.1241 to criminalize concealed ownership of Bitcoin (13950 points, 1621 comments)
  49. 13929 points, 7 submissions: finalhedge
    1. Apple co-founder Steve Wozniak: “Bitcoin is mathematical. I am a mathematician. There are only 21 million. It is more legitimate than other systems” (3984 points, 487 comments)
    2. Mum knows best (2474 points, 149 comments)
    3. Wall Street Journal has gone from worrying that Bitcoin is a bubble that will crash, to worrying that it's not (2432 points, 440 comments)
    4. Hedge Fund Manager Mark Yusko: "Only gamble was whether Bitcoin would make if from $0 to $100-- that was the real miracle. Going from $4,000 to $400,000 is easy" (1755 points, 272 comments)
    5. Those who scoffed at the thought of $1,000 BTC are scoffing at $10,000 BTC and will scoff at $100,000 BTC (1163 points, 342 comments)
    6. Barry Silbert could make Bitcoin soar to $7,000+ & his own Assets Under Management to $1.5B+ with 1 tweet: call off SegWit2X & uncertainty will be out of the market. (1074 points, 189 comments)
    7. Google gets it. (1047 points, 46 comments)
  50. 13912 points, 4 submissions: readish
    1. Bitcoin is going to do to banks what email did the post office and Amazon did to retail. (7194 points, 1137 comments)
    2. ... hey, Coinbase... (3293 points, 492 comments)
    3. Yes, please! (2342 points, 325 comments)
    4. Calling Bitcoin Cash the "real" Bitcoin is straightforward fraud, and will financially wreck many new investors entering the ecosystem by buying a fake coin. So, exposing frauds is a nice thing to do for other people to prevent them from falling for those scams. (1083 points, 400 comments)
  51. 13876 points, 1 submission: theymos
    1. Don't invest recklessly (13876 points, 1972 comments)
  52. 13839 points, 1 submission: virtualwoman0
    1. Thank you Coinbase!! For taking sooo long to validate my identity, my account, and my bank transfers...your endless delays prevented me from investing in the crypto market before the crash! (13839 points, 556 comments)
  53. 13817 points, 2 submissions: xcryptogurux
    1. Don't be like Greg (9887 points, 370 comments)
    2. Lesson - History of Bitcoin crashes (3930 points, 1676 comments)
  54. 13546 points, 2 submissions: D3M0Sthenes
    1. Can you feel the Pumpening? (12469 points, 436 comments)
    2. There's always that guy at the party (1077 points, 61 comments)
  55. 13507 points, 2 submissions: pc_to_mac_user
    1. Keeping Coinbase on their toes - Robinhood adds no-fee crypto trading! (12040 points, 909 comments)
    2. Coinbase CEO: In the next 3–5 years, you will see countries going into economic crisis and could see the organic adoption of cryptocurrencies (1467 points, 363 comments)
  56. 13489 points, 3 submissions: Godfreee
    1. It was a sad day when we had to retire this meme from our wall after 3.5 years. Next one will have an added zero! (10196 points, 237 comments)
    2. Back in 2013, a single subway sandwich shop accepting Bitcoin got airtime on CNBC, and we were all jumping for joy. Nowadays we get full TV features about Bitcoin and people are like " yawn, could be better". (2020 points, 110 comments)
    3. This magazine cover came out exactly 30 years ago - same day Bitcoin was released 9 years ago. Was Satoshi that meta? 2018 is gonna be a helluva ride. (1273 points, 301 comments)
  57. 13293 points, 2 submissions: ccjunkiemonkey
    1. Sixty free lectures from Princeton on bitcoin and cryptocurrencies. Total time 13hr 20min. Links in post. (12259 points, 206 comments)
    2. Don't panic, just learn. Sixty free lectures from Princeton on bitcoin and cryptocurrencies. Total time 13hr 20min. Links in post. (1034 points, 97 comments)
  58. 12875 points, 1 submission: DebtFreeMFers
    1. Guys, I am out (12875 points, 1572 comments)
  59. 12651 points, 1 submission: lriccardo
    1. I spent 3 months building one of the best apps to track cryptocurrencies. Exchanges API sync, wallet tracking and many other features. I am not 16 but I invested a lot of time into this, can I get some attention anyway or am I going to get randomly downvoted as always? The app is also free. (12651 points, 1563 comments)
  60. 12558 points, 3 submissions: agent9747
    1. How to transfer Bitcoin from Coinbase for free! (10322 points, 809 comments)
    2. Stop hating on Coinbase (1210 points, 563 comments)
    3. My Cryptocurrency app is starting to look good :D It will be available soon-ish (1026 points, 193 comments)
  61. 12489 points, 1 submission: tune_down
    1. Insider tip: BTC is going to skyrocket in the next 48 hours (12489 points, 741 comments)
  62. 12328 points, 1 submission: i_mash_shoryuken
    1. This month in Bitcoin. (12328 points, 371 comments)
  63. 12069 points, 1 submission: Ev1lyv35
    1. This hurts me in a different level. (12069 points, 593 comments)
  64. 11898 points, 4 submissions: tinaclark90
    1. I've made some free Bitcoin Icons (4747 points, 246 comments)
    2. Thought I might share this in here. No way Bitcoin is going to survive folks... (4657 points, 824 comments)
    3. New Free Bitcoin Icons (1285 points, 71 comments)
    4. Bitcoin Icons (100% Free) (1209 points, 64 comments)
  65. 11618 points, 1 submission: timbroddin
    1. 9 years ago block 0 was mined. Happy birthday Bitcoin! (11618 points, 455 comments)
  66. 11429 points, 1 submission: tomerux
    1. We waited for that... (11429 points, 186 comments)
  67. 11381 points, 1 submission: sykhlo
    1. And that's why we need limited supply. (11381 points, 803 comments)
  68. 11357 points, 2 submissions: sbrdx
    1. Bitcoiners be like 😂 (9418 points, 413 comments)
    2. When you HODL through a bear market (1939 points, 108 comments)
  69. 11339 points, 1 submission: CosmosKing98
    1. This is governments trying to regulate bitcoin. (11339 points, 549 comments)
  70. 11198 points, 1 submission: Ryamgram
    1. <---- Number of Hodlers with Strong Hands (11198 points, 1127 comments)
  71. 11079 points, 2 submissions: ForeverDutch92
    1. Dutch national newspaper urges people to sell all their Bitcoins as it undermines the government, could destabilise the economy and reduces the power of central banks. Sounds like a reason to buy to me 🤔 (9843 points, 986 comments)
    2. We really need to start pushing for SegWit support. Stop waiting for the Lightning Network to fix everything. (1236 points, 318 comments)
  72. 11063 points, 5 submissions: amorpisseur
    1. South Korean gov't "shocked" at the number of citizens requesting the removal of Justice Minister and Finance Minister for market manipulation (4015 points, 236 comments)
    2. BREAKING: TD Ameritrade to allow bitcoin futures trading Monday (2571 points, 234 comments)
    3. "Microsoft and Starbucks signed on to use the new platform for payments and accept BTC" (2190 points, 330 comments)
    4. We found who's spamming the mempool (1162 points, 207 comments)
    5. Lightning Network progress: 72 out of 75 tests pass! (1125 points, 562 comments)
  73. 11010 points, 1 submission: Sam767679
    1. Legendary story by John McAfee (11010 points, 472 comments)
  74. 10959 points, 1 submission: InteractiveLedger
    1. This is NOT OK. Upvote for visibility (10959 points, 1505 comments)
  75. 10750 points, 1 submission: singularityissonear
    1. Time to invest! (10750 points, 329 comments)
  76. 10749 points, 1 submission: broscientologist
    1. I made a decision tree for everyone panic selling. (10749 points, 896 comments)
  77. 10688 points, 1 submission: K_owar_D
    1. They never told me that buying the lambo would be the easy part... (10688 points, 495 comments)
  78. 10626 points, 1 submission: bigbenxx
    1. Checking the Bitcoin price at work: (10626 points, 328 comments)
  79. 10419 points, 1 submission: EMC2_trooper
    1. I see it every day. (10419 points, 289 comments)
  80. 10330 points, 1 submission: LAH92
    1. The latecomer’s BTC journey (10330 points, 271 comments)
  81. 10324 points, 1 submission: old-man-blorp
    1. It would be so easy then (10324 points, 222 comments)
  82. 10187 points, 1 submission: mrtambourineman89
    1. BTC Grandpa already doubled his profit. (10187 points, 597 comments)
  83. 10027 points, 2 submissions: David3692
    1. Looking at the price when you invested only what you can afford to lose (7560 points, 744 comments)
    2. Trying to explain to the wife why we should buy more now (2467 points, 260 comments)

Top Commenters

  1. viper2097 (11931 points, 7 comments)
  2. TarAldarion (6814 points, 3 comments)
  3. gonzobon (6174 points, 95 comments)
  4. cxr303 (5782 points, 29 comments)
  5. Annu_Naki (5537 points, 1 comment)
  6. nightspy1309 (5501 points, 1 comment)
  7. stevoli (5476 points, 4 comments)
  8. PineappleFund (5450 points, 45 comments)
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  10. gkikoria (5353 points, 1 comment)
  11. StarfighterF104gv2 (5320 points, 2 comments)
  12. devonthed00d (5228 points, 47 comments)
  13. typtyphus (5186 points, 174 comments)
  14. LeeWallis (4989 points, 19 comments)
  15. Graphesium (4956 points, 1 comment)
  16. SirBastian (4640 points, 2 comments)
  17. zomgitsduke (4617 points, 176 comments)
  18. bluethunder1985 (4586 points, 133 comments)
  19. anumoshsad (4494 points, 3 comments)
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  23. domelane (4157 points, 44 comments)
  24. walloon5 (4143 points, 307 comments)
  25. prelsidente (4088 points, 91 comments)
  26. gozaamaya (4029 points, 5 comments)
  27. maaku7 (3976 points, 63 comments)
  28. basmith7 (3950 points, 1 comment)
  29. Agastopia (3869 points, 6 comments)
  30. toxonaut (3756 points, 1 comment)
  31. Speaking-of-segues (3707 points, 117 comments)
  32. PuckFoloniex (3701 points, 37 comments)
  33. isoldmywifeonEbay (3676 points, 100 comments)
  34. mpbh (3558 points, 14 comments)
  35. tranceology3 (3513 points, 252 comments)
  36. Opfailicon (3493 points, 2 comments)
  37. hallizh (3448 points, 3 comments)
  38. 1Bitcoinco (3446 points, 22 comments)
  39. overtoke (3446 points, 14 comments)
  40. coinx-ltc (3401 points, 3 comments)
  41. Shmeh-Shmeh (3365 points, 3 comments)
  42. SternerCrow (3301 points, 22 comments)
  43. Active2017 (3263 points, 35 comments)
  44. mr_li_jr (3204 points, 29 comments)
  45. abolishpmo (3050 points, 19 comments)
  46. Redcrux (3042 points, 10 comments)
  47. lucky_rabbit_foot (3035 points, 41 comments)
  48. FDisk80 (3027 points, 10 comments)
  49. TheGreatMuffin (3009 points, 189 comments)
  50. HazyPeanut (3000 points, 3 comments)
  51. LegendsRoom (2992 points, 58 comments)
  52. 2Panik (2964 points, 5 comments)
  53. fellesh (2952 points, 3 comments)
  54. GenghisKhanSpermShot (2933 points, 171 comments)
  55. suninabox (2929 points, 466 comments)
  56. BlatantConservative (2896 points, 28 comments)
  57. tyrael98 (2891 points, 2 comments)
  58. mbrochh (2890 points, 100 comments)
  59. hungry4donutz (2866 points, 3 comments)
  60. WhoNeedsFacts (2809 points, 2 comments)
  61. greatbawlsofire (2792 points, 2 comments)
  62. pg3crypto (2791 points, 67 comments)
  63. Anon7216 (2791 points, 13 comments)
  64. togetherwem0m0 (2789 points, 64 comments)
  65. StrictlyOffTheRecord (2787 points, 4 comments)
  66. jonivaio (2777 points, 3 comments)
  67. BTCChampion (2752 points, 11 comments)
  68. yung_yas (2752 points, 3 comments)
  69. Chowdahhhh (2744 points, 4 comments)
  70. ADustedEwok (2723 points, 8 comments)
  71. CONTROLurKEYS (2715 points, 303 comments)
  72. strange_fate (2671 points, 36 comments)
  73. Downvotesohoy (2664 points, 6 comments)
  74. daghanerdonmez (2646 points, 5 comments)
  75. Saschb2b (2633 points, 1 comment)
  76. ebaley (2627 points, 1008 comments)
  77. catVdog123 (2619 points, 67 comments)
  78. ducksauce88 (2593 points, 280 comments)
  79. leroyyrogers (2593 points, 39 comments)
  80. PM_UR_UGLY_SWEATERS (2582 points, 9 comments)
  81. Cryptolution (2575 points, 310 comments)
  82. CryptoBobs (2530 points, 3 comments)
  83. Beckneard (2527 points, 39 comments)
  84. gbitg (2515 points, 85 comments)
  85. Kooriki (2511 points, 220 comments)
  86. ILikeToSayHi (2475 points, 24 comments)
  87. SPOKANARCHY (2472 points, 1 comment)
  88. letterboxmind (2469 points, 102 comments)
  89. lawmaster99 (2447 points, 30 comments)
  90. Reverend_James (2445 points, 74 comments)
  91. time_wasted504 (2439 points, 88 comments)
  92. TheBoyChris (2432 points, 4 comments)
  93. Frogolocalypse (2409 points, 518 comments)
  94. lriccardo (2388 points, 119 comments)
  95. __Vet__ (2372 points, 53 comments)
  96. ep1939 (2358 points, 133 comments)
  97. BBA935 (2339 points, 22 comments)
  98. Marcion_Sinope (2333 points, 210 comments)
  99. beamybeams (2323 points, 12 comments)
  100. Sawyeee (2309 points, 2 comments)

Top Submissions

  1. It's official! 1 Bitcoin = $10,000 USD by LeeWallis (48506 points, 4587 comments)
  2. The last 3 months in 47 seconds. by Tricky_Troll (48474 points, 790 comments)
  3. It's over 9000!!! by wolfwolfz (42429 points, 3170 comments)
  4. Everyone who's trading BTC right now by buttockpain (42048 points, 804 comments)
  5. I hope James is doing well by KINNAHZ (29323 points, 1242 comments)
  6. Weeeeeeee! by trance929 (29123 points, 1530 comments)
  7. Bitcoin.. The King by Xtreme110 (28328 points, 1178 comments)
  8. Nothing can increase by that much and still be a good investment. by benjaminikuta (28063 points, 1318 comments)
  9. This is why I want bitcoin to hit $10,000 by Kittstar123 (26949 points, 918 comments)
  10. Bitcoin Doesn't Give a Fuck. by Tricky_Troll (26322 points, 1505 comments)

Top Comments

  1. 11914 points: viper2097's comment in I hope James is doing well
  2. 9195 points: deleted's comment in possibly the worst thing about this crash...
  3. 6799 points: TarAldarion's comment in It's official! 1 Bitcoin = $10,000 USD
  4. 6589 points: deleted's comment in Nothing can increase by that much and still be a good investment.
  5. 6158 points: deleted's comment in My brother killed himself because of BTC
  6. 5537 points: Annu_Naki's comment in What he would be wishing now? 😂
  7. 5501 points: nightspy1309's comment in BTC dropping due to lack of quality 11k memes. Closest support line is at 9k Vegeta memes.
  8. 5410 points: stevoli's comment in Insider tip: BTC is going to skyrocket in the next 48 hours
  9. 5353 points: gkikoria's comment in Weeeeeeee!
  10. 5325 points: cxr303's comment in Guys, I am out
Generated with BBoe's Subreddit Stats
submitted by subreddit_stats to subreddit_stats [link] [comments]

Chart of the major Bitcoin events

So I have this chart on which I've been tracking all major news that seemed to have any effect (or surprisingly small effect) on the Bitcoin price. I tried to stay away from any kind of technical analysis and focus on the news alone, with the exception of upward channel first identified by AF Bitcoins since I like how it's been spot-on for almost four months.
Anyway, here's the chart. Use it, abuse it, copy it and make it yours if you will.
Is there any event I missed that moved the price? And looking at 2013 and further back, what's your takeaway, how much does the Bitcoin rise and fall by the news?
EDIT: Some highlights:
submitted by domchi to BitcoinMarkets [link] [comments]

Bitcoin Price Explodes to $7,500 as Tether Loses USD Peg

Bitcoin Price Explodes to $7,500 as Tether Loses USD Peg
Bitcoin price surged 9 percent within hours as Tether started losing its grip on the USD-peg.
The BTC/USD pair closed yesterday on a modest 2 percent gain in pennant formation action following the recent drop. Nevertheless, the couple started picking momentum during the early Asian trading session and jumped to as high as 7800-fiat from its previous low near 6300-fiat.

https://preview.redd.it/lkp04k2u5bs11.png?width=751&format=png&auto=webp&s=c73509931138d2af8433931e596ae75291f9c359

At the same time, Tether’s USDT/USD pair lost came crashing down below 0.95-fiat at the beginning of the Asian session. It eventually formed lower lows towards 0.85-fiat, before correcting higher towards 0.90-fiat. The pair, however, continues to be far from its $1-peg that is creating a negative sentiment about its future in the crypto space.

Bank Insolvency, FUD

Tether is closely tied to BitFinex, a global crypto exchange which lately has dropped Noble Bank as its banking partner. The amount of US dollars required to back the Tether’s USDT token supply were reportedly deposited in the same bank, which caused the stablecoin temporary hassles. Later, reports started to surface that Tether had no money to back its total supply, with many of them calling the stablecoin project a scam. They also found a strong connection between the chiefs of BitFinex, Tether and Noble Bank, especially at the time when the Noble bank became a strong point of concern for the Puerto Rican regulators. Reportedly, the authorities issued a warning to the firm, the details of which couldn’t make to the press.
The needle then points to one thing: whether Tether has funds to support its USDT supply or not? It can only be found out with a clear and transparent audit. But, even on that front, the project has not come reasonably well. Against the promises made in their original whitepaper, the Tether team has not conducted a proper financial audit. It had however hired a legal firm, which already had a business relationship with Tether and Noble Bank, to perform an inspection.
All stories collectively have created a negative community sentiment for USDT. Retail investors are already exchanging their Tether holdings for Bitcoin and other top coins, which have also seen an impressive rally in the past 24 hours.
“There is no guarantee that you can redeem your tethers. There should be a way for Tether to repurchase them from you for 1 dollar. There is not. For me, this whole thing smells very like when mtGox went belly up. You want to hold your bags, will that is your decision. It is not why I am in crypto.” – one of the crypto users commented on Reddit.
Tether social media handles posted nothing during the crash.
Featured Image from Shutterstock. Charts from TradingView.

https://www.ccn.com/bitcoin-price-explodes-to-7500-as-tether-loses-usd-peg/

submitted by smathium to u/smathium [link] [comments]

Subreddit Stats: Buttcoin top posts from 2014-02-28 to 2019-01-15 01:31 PDT

Period: 1781.72 days
Submissions Comments
Total 1000 66504
Rate (per day) 0.56 37.31
Unique Redditors 546 7216
Combined Score 190256 613696

Top Submitters' Top Submissions

  1. 4165 points, 23 submissions: Tomatoshi
    1. Cryptocurrency Euthanasia Coaster (489 points, 127 comments)
    2. Mark Karpeles states Bitcoin has failed and is useless. (273 points, 95 comments)
    3. Vergin comedy gold leaks ahead of announcement (241 points, 159 comments)
    4. Incredibly "organic" pump minutes before Tether prints $300 million (237 points, 82 comments)
    5. In today's Creepto News : McAfee's Underground King of ICO analysts apparently a pedo (230 points, 99 comments)
    6. Dying Butter attempts to dox imaginary assassin. Gives him an imaginary name and non-existent address. (215 points, 70 comments)
    7. Back under 8K. Shall I get rid of my fiat? (210 points, 86 comments)
    8. President Maduro's computer hacked. Exit scam image discovered. (205 points, 12 comments)
    9. Come all ye faithful and get rekt margin trading (185 points, 59 comments)
    10. Lightning Network upgraded - super efficient diagram of super efficient payment channels running on top of super efficient blockchain (183 points, 73 comments)
  2. 2691 points, 10 submissions: Orbalisks
    1. Debating Bitcoin (747 points, 114 comments)
    2. 1 Bitcoin transaction uses over four times as much energy as 100,000 VISA transactions (492 points, 150 comments)
    3. Remember that model that the Bitcoin crowd constantly mocked? Turns out it was pretty much spot on... (346 points, 90 comments)
    4. MRW I see butters describing how they lost 40% on Verge so they went all in on Tron but lost another 30% so they went back to Bitcoin but are down 25% (216 points, 38 comments)
    5. The Parable of the Bagholder (201 points, 14 comments)
    6. Then they came for me (161 points, 18 comments)
    7. First. Global. Currency. (148 points, 55 comments)
    8. Verge creator desperately (and unsuccessfully) trying to cash out into USD on Coinbase; notes that "taxes are due"--an observation that conspicuously coincides with Verge's enigmatic crowdfunding campaign (143 points, 34 comments)
    9. Butter shares comical chart suggesting that Bitcoin is destined for 100% adoption, despite the fact that the chart both misrepresents how long Bitcoin has been around for and already shows that it is not being adopted as quickly as other technologies (120 points, 76 comments)
    10. First you pump, then you dump (117 points, 25 comments)
  3. 2556 points, 15 submissions: dgerard
    1. The OKEx margin trading disaster — how crypto margin trading goes wrong, and how the eye-watering margin leverage on crypto exchanges works in practice (306 points, 212 comments)
    2. "Attack of the 50 Foot Blockchain" is OUT NOW! (284 points, 98 comments)
    3. Reuters on OTC markets: "Less romantically, traders sometimes say 'butt' to mean bitcoin." we did it lads, be proud (268 points, 17 comments)
    4. How does Brave's "Basic Attention Token" work? By blatant fraud, of course! Twitter thread from one creator whose name and photo Brave is misusing (192 points, 173 comments)
    5. bullish on USD. it is clear USD is increasingly popular with past hodlers of the deprecated bit-Coin. USD has gone up hugely in just the past day against the b.t.C!! in the future it is posible with enough imagination that the US economy could run on USD ! in conclusion you should get into currency (186 points, 26 comments)
    6. Twitter thread of Bitcoin price predictions (164 points, 30 comments)
    7. "Kodak board members conveniently grant themselves shares the day before the announcement, a stock promoter with a checkered past is engaged for PR, and a group of German copyright trolls reinvent themselves as blockchain-enabled image platform managers." A scathing hedge-fund report on KodakCoin. (157 points, 44 comments)
    8. MERL Tech: Blockchain for International Development. "We documented 43 blockchain use-cases ... no documentation or evidence of the results blockchain was purported to have achieved in these claims ... Not one was willing to share data on program results." (143 points, 44 comments)
    9. Bitcoin’s stupendous power waste is green, apparently — bad excuses for Proof-of-Work [by me] (133 points, 112 comments)
    10. Bitcoin continues to be awesome for renewable energy! - "Bitcoin backlash as ‘miners’ suck up electricity, stress power grids in Central Washington" (130 points, 39 comments)
  4. 2541 points, 10 submissions: borderpatrol
    1. Buttcoin Foundation ROCKED as founder exposed to be PAID SHILL for Butterfly Labs (1269 points, 553 comments)
    2. Stop with the political and racist garbage (177 points, 119 comments)
    3. To the person who reports every single chart posted in this sub as "not a fucking log chart" (167 points, 40 comments)
    4. WE DID IT REDDIT! (166 points, 55 comments)
    5. Someone finally said "Buttcoin". And it's William Shatner (156 points, 39 comments)
    6. My new Bitcoin commercial idea. (140 points, 21 comments)
    7. Let's welcome /Buttcoin's newest honorary member of the mod/shill team, Peter Todd! (125 points, 54 comments)
    8. Satoshi Nakamoto is an anagram of "So a man took a shit." (118 points, 16 comments)
    9. Guess which convicted felon just fucked over another Bitcoin business? (112 points, 31 comments)
    10. You guys are the best (111 points, 81 comments)
  5. 2509 points, 12 submissions: JihanButt
    1. Hot (404 points, 19 comments)
    2. Made me check (and kek) (398 points, 49 comments)
    3. Mass adoption is here (257 points, 60 comments)
    4. New record for the fastest exit scam in human history (245 points, 23 comments)
    5. Meanwhile on 4chan bizbutt (210 points, 88 comments)
    6. TIL: Binance can exit scam at any given time and no one would be able to locate CZ or the Binance offices. Not even MtGOX was this shady. (200 points, 65 comments)
    7. Quality (172 points, 53 comments)
    8. Normies are shorting (137 points, 44 comments)
    9. CEO (lol) of shitcoin Titanium BUTT, high on cocaine during AMA (136 points, 16 comments)
    10. It begins... The biggest transfer of comedy gold in human history (122 points, 17 comments)
  6. 2470 points, 12 submissions: unitedstatian
    1. I can't tell why but this ICO doesn't look trustworthy to me (369 points, 47 comments)
    2. Cryptocurrency (332 points, 26 comments)
    3. Has crypto become a giant joke? (311 points, 60 comments)
    4. A Buttcoiner going shopping (248 points, 37 comments)
    5. There is only a 1% chance of successfully routing a $67 payment on the lightning network (229 points, 71 comments)
    6. Comedy gold over at bitcoin (179 points, 54 comments)
    7. The Four Commandments (148 points, 65 comments)
    8. Behold LN in it's full glory as two users fail to send a meager 100 Sats through a high liquidity hub (Bitrefill) due to poor route computation. (146 points, 76 comments)
    9. Jimmy Song giving advice on how to use Bitcoin as a method of payment lol! (143 points, 57 comments)
    10. This is my new favorite ICO. (130 points, 94 comments)
  7. 2037 points, 11 submissions: dyzo-blue
    1. Butter informs his tribe that he has decided to leave. Tribe kindly wishes him good luck and a happy new year. (510 points, 81 comments)
    2. STORE OF VALUE. (184 points, 32 comments)
    3. TIL: Apparently butters are mostly models who have meet-ups on boats. (167 points, 43 comments)
    4. Bitcoiner asked me if I was in the "crypto game" (165 points, 140 comments)
    5. Bitcoin’s energy consumption is growing at 20% per month and is effectively erasing decades of progress on renewable energy (160 points, 93 comments)
    6. Steve Bannon is creating a cryptocurrency to fund global fascist movements (155 points, 175 comments)
    7. Firesale! Firesale! All I see are CHEAP COINZ. (154 points, 130 comments)
    8. The electricity required for a single Bitcoin trade could power a house for a whole month (147 points, 81 comments)
    9. Who sees this pop-up and thinks, "Hmm, seems legit"? (146 points, 40 comments)
    10. From California's Governor Primary Ballot (126 points, 28 comments)
  8. 2035 points, 13 submissions: 18_points
    1. BitGrail insolvency due to people editing client-side javascript and withdrawing free NANO! (279 points, 115 comments)
    2. Butter rushes to exchange his iMac for a MacBook hours before return policy expires, doesn't copy his wallet seed. $170K SFYL, mass adoption imminent. (205 points, 102 comments)
    3. LA Times: The only currency worse than bitcoin is Venezuela’s (176 points, 78 comments)
    4. Butter makes $1.2mm, quits his job, proceeds to lose 80% (175 points, 76 comments)
    5. Bitcoin.com openly admits Tethers are backed by nothing (158 points, 99 comments)
    6. Tether CFO: "Tether may no longer continue to use the US dollar anchor in the future." (152 points, 80 comments)
    7. Aaaand it's gone.... Stablecoin basis closes shup after raising $133 million (151 points, 61 comments)
    8. Guy travels abroad paying with bitcoin. Just kidding, he couldn't pay with bitcoin - best he could do after 2 days trying was trade bitcoin for cash 20% below spot. (138 points, 62 comments)
    9. Because this chart never gets old ... (126 points, 46 comments)
    10. Tether crashing on Kraken, down to $0.98 (125 points, 69 comments)
  9. 1985 points, 6 submissions: cool_playa
    1. a shitcoin startup called Prodeum just exitscammed with millions of investor dollars and left them the following message on their site (1111 points, 170 comments)
    2. Cryptocurrencies: Last Week Tonight with John Oliver (HBO) (256 points, 72 comments)
    3. Charlie Lee gets put in his place (185 points, 29 comments)
    4. Vitalik rethinks his stance as a Libertarian due to the current cryptocurrency ecosystem. Regulations are actually good he says. LMAO. (180 points, 86 comments)
    5. Twitter CEO says Bitcoin is the future / Twitter bans cryptocurrencies from advertising on their platform. (129 points, 11 comments)
    6. Bubble, Bubble, Fraud and Trouble - New York Times article (124 points, 81 comments)
  10. 1916 points, 10 submissions: Cthulhooo
    1. Ladies and Gentlemen I have an innovative idea that will change the landscape of cryptospace forever. I present you the infinite reverse Ponzi scheme. (355 points, 237 comments)
    2. ETH is now officially a 2 digit shitcoin! (258 points, 110 comments)
    3. So this is how blood in the streets looks like... (215 points, 91 comments)
    4. Missed us? (211 points, 44 comments)
    5. The new paradigm (of spam) has arrived. (171 points, 45 comments)
    6. Attention all personnel. (168 points, 62 comments)
    7. Not only bloomberg or CNBC. Even national media all over the world are screaming about tether manipulation. This is good for buttcoin. (168 points, 42 comments)
    8. The biggest bagholders on the planet are actually institutions. Bought bitcoin for $40k (142 points, 44 comments)
    9. Millions of dollars stuck forever in a buttchain thanks to an international community effort to establish the largest comedy gold black hole up to date. (116 points, 28 comments)
    10. Smart ponzi FOMO3D round 1 ends way too early with a creative twist (112 points, 98 comments)

Top Commenters

  1. SnapshillBot (15642 points, 683 comments)
  2. Cthulhooo (11080 points, 1057 comments)
  3. Tomatoshi (10485 points, 577 comments)
  4. newprofile15 (7365 points, 477 comments)
  5. jstolfi (7325 points, 766 comments)
  6. JeanneDOrc (6318 points, 827 comments)
  7. friosc (5326 points, 244 comments)
  8. Woolbrick (5088 points, 318 comments)
  9. Crypto_To_The_Core (4838 points, 678 comments)
  10. HopeFox (4673 points, 331 comments)

Top Submissions

  1. I'm having an orgasm watching the prices dropping - upvote if you're a sick a degenerate like me by deleted (1456 points, 340 comments)
  2. Buttcoin Foundation ROCKED as founder exposed to be PAID SHILL for Butterfly Labs by borderpatrol (1269 points, 553 comments)
  3. a shitcoin startup called Prodeum just exitscammed with millions of investor dollars and left them the following message on their site by cool_playa (1111 points, 170 comments)
  4. And the returns have already begun. One person and a known reseller we get regularly. by cloud3514 (907 points, 278 comments)
  5. c o m p u t e r s c i e n c e by brokenAmmonite (856 points, 125 comments)
  6. U.S. Launches Criminal Probe into Bitcoin Price Manipulation by BitcoinTrolling101 (761 points, 218 comments)
  7. Debating Bitcoin by Orbalisks (747 points, 114 comments)
  8. TIL bitcoin is called the currency of the future because all currency transactions are confirmed in the distant future. by Thief_1 (720 points, 37 comments)
  9. M A T H E M A T I C A L L Y I M P O S S I B LE by NORATHEDESTROYER (693 points, 86 comments)
  10. This is the best take of crypto-currency that I've ever seen. by deleted (689 points, 137 comments)

Top Comments

  1. 1874 points: AlbertRammstein's comment in The OKEx margin trading disaster — how crypto margin trading goes wrong, and how the eye-watering margin leverage on crypto exchanges works in practice
  2. 1263 points: Mike_Prowe's comment in Buttcoin Foundation ROCKED as founder exposed to be PAID SHILL for Butterfly Labs
  3. 820 points: Slayer706's comment in Buttcoin Foundation ROCKED as founder exposed to be PAID SHILL for Butterfly Labs
  4. 577 points: deleted's comment in The OKEx margin trading disaster — how crypto margin trading goes wrong, and how the eye-watering margin leverage on crypto exchanges works in practice
  5. 571 points: cloud3514's comment in And the returns have already begun. One person and a known reseller we get regularly.
  6. 496 points: SnapshillBot's comment in a shitcoin startup called Prodeum just exitscammed with millions of investor dollars and left them the following message on their site
  7. 382 points: vytah's comment in Holy Satoshi! Butter pays 85Btc transaction fees for a 16Btc transaction. Is this the largest fee ever paid?
  8. 380 points: Tomatoshi's comment in It's already happening. GPU market is about to get really hot.
  9. 361 points: ShiteFlaps's comment in Why are you guys such salty fks?
  10. 331 points: -charlie-kelly-'s comment in a shitcoin startup called Prodeum just exitscammed with millions of investor dollars and left them the following message on their site
Generated with BBoe's Subreddit Stats (Donate)
submitted by subreddit_stats to subreddit_stats [link] [comments]

Estimating DPR's income after expenses & exchange rate

The FBI indictment states that SDPR earned ฿614,305 in commissions. It's been suggested that the expense of running SR, and the large changes in the exchange rate, may substantially reduce how many bitcoins DPR actually could have saved up, possibly to as low as ฿"150-200k". (The logic here is that if SR earns commissions of ฿100 in 2011 but needs to pay $100 of hosting bills, it needs to sell all ฿100 but in 2013, it would need to sell only ฿1.)
DPR surely spent some of the commissions on running SR & himself, but running a website isn't that expensive, and how badly the exchange rate bites will depend on details like how it fluctuated over time, how sales grew over time, and how big the expenses really are. The reduction could be tiny, or it could be huge. It's hard to tell based just on a gut estimate.
So: below, I take estimates of SR growth from Christin 2013's crawl and the FBI indictment, infer linear growth of SR sales, estimate daily expenses, and combine it with historical Bitcoin exchange rates to show that DPR probably has most of his bitcoins and 200k or lower is right out.

Model

My strategy is to model Silk Road's growth as linear in dollar amounts, but with different amounts of bitcoins each day depending on the exchange rate, subtract a daily operating cost, and then sum the commissions.
So say that on 1 January 2012, SR did $10k of business, and the exchange rate was 1:100, so ฿100 in turnover, and SR gets an average commission of 7.4%, so it would get ฿7.4.
To do this, I need to estimate the revenue each day, the expenses each day, the commission each day, and the exchange rate each day. Then I can multiply revenue by commission, subtract the expense, and sum the left overs to get an estimate of the total bitcoins available to DPR which he could (or could not) have spent.

Expenses

  1. Employees: we know that Libertas and one or two others were employed at salaries of $1-2k per week. I'll assume there were 2 others, and each was paid the max of $2k per week, which means total daily employee expenses is (2 * 2000) / 7 = $571 per day. (Unfortunately, the indictment doesn't give any clear indication of their numbers, just referring to them as 'they'.)
    This is a conservative estimate since I'm pretty sure that SR was a one-man operation until probably in 2012.
  2. The servers: we know there were at least 2 servers (the main site, and the forums). The task of hosting the sites does not seem to be too bandwidth or disk-space intensive, and servers are extremely cheap these days. The use of DataClub.biz and GigaTux suggest DPR was using cheap VPSes. I'll estimate a monthly expense of $500 ($250 a piece) which per day is $16.
    This is also very conservative.
  3. DPR: his rent of $1000/month has been widely bruited about, and in general he reportedly spent little. Makes sense to me, I've met and seen the rooms of a few well-paid geeks in SF like DPR, and I would believe them if they said they didn't spend much money on anything but rent & food. I'll bump this up by $1000 for food and all expenses, since he apparently didn't even eat out very much. So $2000/31=$65.
    Doubling his rent for total expenses is probably also conservative; for most people, rent is not >50% of income, but SF is incredibly expensive to live in.
This gives a daily expense of $652 (or a monthly total of $19.1k in expenses). As you can see, the employees are by far the most expensive part of running SR in my estimate, which makes me wonder if maybe Libertas was the only employee.

Hitmen

Assuming the details about DPR hiring hitmen in the indictments are reasonably accurate, we can throw in two large expenses:
  1. an $80k expenditure for killing his Maryland employee. The first payment of $40k was made on 4 February 2013 and the second/final payment of $40k was made on 1 March 2013 (pg9). If we use the exchange rate of those two days, then the hit cost DPR (40000 / 20.42) + (40000 / 34.24) = ฿3127
  2. the second hit was priced in bitcoins (pg23):
    Through further messages exchanged on March 31, 2013, DPR and redandwhite agreed upon a price of 1,670 Bitcoins
So the hits cost DPR somewhere around ฿4797. An extremely large and painful amount, by most standards, but still nowhere near ฿10k - much less higher.

Revenue over time: first and last days

Christin:
Table 3 provides a breakdown of the feedback ratings from 184,804 feedback instances we collected...In Figure 12, we plot an estimate of the daily commissions collected by Silk Road operators as a function of time. We simply reuse the previous estimates, and apply both the fixed 6.23% rate, and the schedule of Table 4 to each item. We find that the new schedule turns out to yield on average a commission corresponding to approximately 7.4% of the item price.
The FBI:
From February 6, 2011 to July 23, 2013 there were approximately 1,229,465 transactions completed on the site...$79.8 million (USD) in commissions.
According to Bitcoin Charts, on 23 July 2013, the MtGox price was $91. (As the most famous exchange, any FBI estimate almost certainly used it.) So that implies $79,800,000/91=฿876,923. Or to put it the other way, at $79.8m in transactions, then using Christin's 7.4% estimate, total sales were $1,078,000,000 or ฿10,780,000.
Wikipedia says "These transactions involved 146,946 unique buyer accounts, and 3,877 unique vendor accounts.", and "The total revenue generated from transactions was 9,519,664 bitcoins. Commissions collected from the sales by Silk Road amounted to 614,305 bitcoins."
(So the numbers aren't too different: 614k vs 876k and 10.8m vs 9.5m.)
We'll set 6 February 2011 to $10 in sales (probably not too far from the truth). But what about 23 July 2013? pg20 of the indictment says:
For example, on July 21, 2013 alone, DPR received approximately 3,237 separate transfers of Bitcoins into his account, totaling approximately $19,459. Virtually all of these transactions are labeled "commission".
19459 / 0.074 = $262,959 that day. $20k in commissions is extremely impressive, since Christin estimates only $4k/day commissions as late as the end of July 2012 - so SR must have grown by 500% from 2012 to 2013. We use this revenue estimate as our endpoint and interpolate from $10 to $262,959 over the ~900 days SR existed. This is a conservative way of modeling SR, since the graphs in Christin indicate that SR saw sigmoid growth in 2012, and 2013 would've seen even more growth (to be consistent with the 2013 July commission datapoint being 5x the 2012 July commission datapoint).

Exchange rate

I grab weighted price for each day between 6 February 2011 & 23 July 2013, and stuff it in a CSV.

Analysis

R> sr <- read.csv("http://dl.dropboxusercontent.com182368464/dpr-exchangerate.csv") R> sr$Sales <- c(10, rep(NA, 890), 262959, NA, NA) R> # revenue increased by $300 a day: R> l <- lm(Sales ~ as.numeric(Date), data=sr); l Coefficients: (Intercept) as.numeric(Date) -285 295 R> sr$Sales <- predict(l, newdata=sr) R> sum(with(sr, (Sales * 0.074 - 652) / ExchangeRate)) [1] 803397 
Or we can run the estimate the other way: if DPR had to spend $652 a day and converted at that day's exchange rate, and we took into account the hitmen, how many bitcoins would he have spent in total?
R> sum(with(sr, 652 / ExchangeRate)) [1] 127154 R> (614305 - 127154) - 4797 [1] 482354 

Conclusion

Obviously ฿803k > ฿614k, which implies that the linear model overestimates sales in the early life of SR; but going the other direction and estimating just from costs & hitmen & total commission, we still wind up with nearly ฿500k (and that was after making a bunch of highly conservative assumptions). The fewer sales (and commissions) early on, the less of a fixed number of bitcoins will be sold. So, while it may initially sound plausible that DPR could have been forced to part with say ฿400k to pay for SR and sundry expenses, the distribution of sales and fluctuations of Bitcoin value mean that this simply does not seem to be the case.
Unless there are some abandoned yachts floating around the SF Bay Area, DPRoss Ulbricht probably has ฿500k-614k.
submitted by gwern to SilkRoad [link] [comments]

A reasuring selection of my favourite charts and data

A friend of mine invested big near the high point recently, I created a bunch of info to help him feel reassured, thought I'd share it with all ya'll - would like to know what you think
Chart 1:
This shows 2 years of bitcoin price on a log scale with a moving average, plus a Stoch RSI indicator.
http://bitcoincharts.com/charts/mtgoxUSD#rg730ztgSza1gSMAzm1g500zm2g25zi1gStochRSIzcvzl
This shows we're still in an upward trend, despite recent very bad news, and also that the market looks due for an upwards correction soon - as it's so rare for the Stoch RSI to stay low for so long. Compare with previous major crash.
Thing 2:
http://sourceforge.net/projects/bitcoin/files/stats/map?dates=2013-12-09%20to%202013-12-17
This shows by-country download statistics for the official bitcoin client - it can be used as a crude indicator of adoption I guess. It's pretty clear from this that many major world population zones are still asleep to the entire idea, India and South Korea look set for rapid adoption soon.
Chart 3:
http://coinsight.org/graphs/reddit_flairs_weighted_30d.png
This guy shows both the number of bulls and bears on the bitcoin subreddit.
Both are increasing, so more people are gathering more info about trading, together with a huge weight towards the side of a price increase. These guys know far more about market analysis then I do.
Chart 4:
https://blockchain.info/charts/n-transactions?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=
This guy shows the number of bitcoin transactions happening since the beginning of time. It gives a good indication of how many people are actually using bitcoin as a currency, rather than as magical gold bars of speculation. The higher this goes the better it is.
submitted by DonkeyScience to BitcoinMarkets [link] [comments]

Technical analysis of post-950 crash, 440 bottom, and where we're headed next(?)

Destination
Just my naive, simple analysis of what's happened so far.
Warning I am insanely new to this, like, virgin-grade new. Like, two weeks ago I knew zero about trading, but over the past two weeks I've been talking to trading friends and digesting a ton of information. As a result of this, my analysis is going to be A) incredibly basic, and B) prone to incredible error, and C) possibly incredibly ignorant. I'd love to read any generated discussion and any feedback/criticisms you have of any of the analysis so far.
I came into possession of ~.92 BTC around the 9th of December. I'd briefly followed the BTC charts in the past, but never with extreme interests as I was never holding. Since I came into possession of the .92 BTC I'd decided I'd have fun trying to gamble with it in the mtgox exchange, and here's my findings/analysis/progress/etc...over the past couple of weeks.
So where are we now?
I think from that point on I was trying to figure out where the next major resistance would be, but we moved so much volume and we dropped so much that it's hard to tell. As of right at this very moment, the market -appears- to be trending upward, depending on the formation of this next peak, and my current sell order is at 780. I know it's a bit optimistic, and I might change my sell order based on how these next few peaks look, but surviving the bounce back at 475 was important (in my uneducated!! opinion) and I feel like it's possible we could trend back up there, as our drop from 720->480 was incredibly sharp, with a few large dumps on the way there.
Do you think there's any merit to this form of analysis in this market? Do you think any of the trades I made were ill-advised, and do you think my current hope/prediction(I use this term LIGHTLY) will hold true? If yes, why, if not, why, etc...etc...
I know some people don't like to share specific numbers, but this money is just fun money for me so I don't mind - I began with .92BTC and am currently holding a little over 1.6BTC on mtgox. My starting USD in this exchange was around $820, and if I'm able to dump at 771 (current sell order) I will have $1233.71. My current BTC worth is ~$992
For beginners/newbies looking for easy "buy now/sell now" guides: I am 2 for 2 on trades so far so it might be tempting to simply dump 100% of your holdings into the analysis I'm using, but my sample size for successful trading is far, far too low to be something you should base you own investments on. It's very possible that I am trading incredibly EV- and simply got lucky in my first few trades.
Would love any criticism/suggestion/feedback on this analysis so far! Reading materials etc...are all welcome.
submitted by NeoDestiny to BitcoinMarkets [link] [comments]

/r/bitcoin in full on meltdown mode

Backstory: Recently, one of the largest Bitcoin exchanges said they weren't letting people withdraw Bitcoins due to technical issues (a process called "transaction malleability," which I can't really explain but has been known for awhile). This caused much consternation and a precipitous drop in the value of BTCs. This exchange also released a statement blaming Greg Maxwell, one of the original Bitcoin developers for the "technical issues" they were having.
This has caused much drama.
Keep calm, transaction malleability is not double spending. One of the big "selling points" of Bitcoin is that you can't double spend. As the name suggests, double spending is when you spend the same money twice. It's bad for business and good for thieves.
So Gox decided to take the Bitcoin ship down with them blaming their shortcomings on well known and documented protocol limitations. Shame!
so gox can buy cheat coins to make up for the loss.
That's right, folks, this exchange is crippling their business and reputation...so they can sink the cost of Bitcoins so they can buy them more on the cheap.
Mt Gox's incompetence once again puts BTC on sale? I'm not complaining.
Yep, my buttcoins just dropped in value 20%, but IDGAF because I'm gonna buy more.
You make it sound a lot less apocalyptic than the MT Gox press release did. To the top with you!
TO THE MOON!
Wow, fuck Mt Gox
They just purposefully spread FUD throughout the bitcoin world for the sole purpose of diverting attention while they fix their shit. This transaction malleability thing has been known for a long time and has plenty of easy ways to work around it, like just look and see if there's a double spend attempt on outputs before auto-crediting your internal books. The fact that Gox's shitty coding didn't do that is entirely their fault, and instead of owning up to it, they're trying to cause an earthquake of FUD to divert attention and buy themselves time. That's not just sneaky, that's truly evil. Fuck them. Fuck them so much.
/rant
FUCK THEM THIS PR MOVE IS LITERALLY EVIL. Now, I tend to save concepts of "good" and "evil" for actions that have a considerable moral weight, like when some piece of shit steals my parking spot, but this takes the cake. I speculated invested in a volatile commodity and my speculation investment has tanked, so I'm totes raging about it on Reddit.
Tin foil hat time.
What if a bunch of BTC got stolen and MtGox knows this. So they make FUD that blames bitcoin protocol knowing it will crash the price. They then take USD and buy up cheap bitcoin to cover the BTC that got stolen. What if this new USD will actually drive the price to new HIGHS!
What the hell. I couldn't even satirize this properly. (TO THE MOON)
What the f$#% is the BTC Foundation doing? Kick Mark Kerpopples off the board. Mark Karpeles is the CEO of Mt. Gox.
If your going to claim to be the representative entity for Bitcoin then act like it. Otherwise you are just as big of a joke as that incompitent twit Mr Krabapple bouncing around on his blue ball. I mean, Jesus H. tap dancing on a crispy truiscuit Christ, do something, anything, or gtfo.
*Edit: Help us Obi-Wan Antonopoulos, you're our only hope.
He's literally tanking Bitcoin! Let's take a rash action in response to a rash action!
Karppoopels is on the BTC foundation board? fuuuuuuck thats bad.
Karppoopels. Heh.
Anyone else from The Bitcoin Foundation want to shit on Bitcoin some with more negative PR?. Drugs, money laundering, "bugs"…c'mon guys…gun running could be next? or something worse?????. I'm sure you've got plenty more from where Shrem and Krapeles came from.
Krapeles. Lmao!
Oh, btw, turns out that you should do a little background check on anyone you're doing business with before you do business with him.
Andreas: Unanticipated bugs don’t come with year-old wiki pages fully documenting them. Gox is full of shit. Some guy tweets a thing.
Andreas keeping it real, as always.
Bravo, sir!
And:
I fucking love Andreas.
And now to the conspiracy:
Perfectly timed manipulation on the part of MTGox, this news comes as the 3 day MACD happens, (exponential average crosses the average bitcoin price), it hadn't crossed since early 2013, so big movement was to be expected.
You can see it on the 3day chart on bitcoinwisdom, the blue line and brown line crossing, this is a BIG sign for automated trading bots to make a move, in this case the exponential average (indicating the latest movement trend) went below the average, this means the trend is downwards.
So MTgox preps up their sells, sets a weekend climate of "some big news is about to come out on monday, everyone keep an eye on your coins"
Then DROPS the bad news, and BOOM goes the dynamite. we have an epic crash.
Meanwhile MTgox sets up its orders on BTC-E around 200.
Yep, makes perfect sense. Destroying your credibility as a business so you can get them sweet, sweet Bitcoins.
MtGox - Your new cold storage solution
Setup:
>Create MtGox account >Enable 2FA >Send BTC to MtGox 
And you are finished, no one will able to get to your coins, they are perfectly safe. /s
Haha, get it, because you can't withdraw your coins? And this is front page material.
At this point you can even call it cryogenic storage
So cold it's frozen.
Ho-ho, such wit, much funny.
The Bitcoin Foundation, Coinbase, Bitstamp and Blockchain.info need to issue a statement debunking Gox's "bitcoin bug" argument
Most people trust MtGox. It's the oldest exchange, was the most mentioned in the media. Their press release is pure bullshit but it's a subject that's way too technical anyway for most people to grasp. We need other big players to step up and reassure people, or this could be the death of Bitcoin.
And what will happen now?
Go on, sell your bitcoin, and bang your head into the wall when the price goes back up.
In the mean time, I'm enjoying the cheap coins.
Hmmm. If one were a Gox insider, today would've been a good day to buy bitcoins. Either for a personal account or for the company's, in order to cover past fuckups.
Are you concerned about the price of your holdings? I appreciate that we just got cheap coins.
Plus the general hatejerk:
How I look forward to the day bitcoin won't be goxed anymore.
Even those outside of gox managed to get goxxed today.
Gox has done the greatest service & disservice to Bitcoin.
Sounds like Mark is trying to raise more fear. He needs to step down from the Bitcoin Foundation.
I guess most of the other players fear legal problems if they say anything bad about Gox...
And the final jerk:
I'm fed up with Gox's incompetence and purposely damaging language to the Bitcoin community: I'm saying it here, I'm willing to invest $50,000 in a legit U.S. in exchange for 5% of the business. Somebody get ahold of me!
This press release from Gox was incredibly shady and deceitful. The majority of Bitcoin market crashes are because of them. We need to step up. I'm willing to step up. Get ahold of me on here!
I'm willing to invest $50,000 in a LEGIT U.S. Bitcoin exchange for 5% of the business.
We can't stand for this, people. We can't let lies like this affect the Bitcoin community this much
submitted by Creep_The_Night to ThePopcornStand [link] [comments]

Comparing Bubbles

The "are we in a bubble?" question seems to be popping up a lot. I have no idea. You don't usually know these things until they end do ya.
However, I thought I'd post the chart below comparing the first Bitcoin bubble to the move into the current high using a little bit of Elliott Wave notation for the sake of comparison.
http://imgur.com/ZeQxsBv
The first chart shows the first 4 waves (of 5) of price action from the launch of MtGox (around $0.1) into the build up to the first Bitcoin bubble in spring 2011. Wave 5 in that case was extreme and parabolic and could be genuinely classed as a bubble. It then gave back most of it's gains which has been commonly seen in previous asset bubbles - the dotcom boom being just one example http://uk.finance.yahoo.com/echarts?s=%5EIXIC#symbol=%5EIXIC;range=my
The rise here from start to peak was a 319 fold increase. The rise from the end of wave 4 to peak was a 39 fold increase.
From the post bubble crash low at $2.04 the price action into the end of the 4th wave (of 5) advance that ended at around $11 in the first week of November 2012 is rather analogous with first 4 waves of the 2011 advance albeit at a greater order of magnitude that reflects the far greater awareness of Bitcoin this time round.
However, by comparison, the move from the $2.04 low to the current high of $31 is a 15 fold increase and the move from the end of wave 4 to the current price is a 2.8 fold increase.
I am not offering advice as to where this current move may end, nor am I predicting that we are about to enter a similar rate of increase. Just wanted to point out the similarities and differences.
You're all big boys and girls - I'll let you decide for yourself whether we are currently in a bubble or not.
Happy trading
submitted by bangers89 to Bitcoin [link] [comments]

[uncensored-r/BitcoinMarkets] Bitfinex daily today...

The following post by mrredditor79 is being replicated because the post has been silently removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ BitcoinMarkets/comments/7j20jo
The original post's content was as follows:
Chart here... http://i66.tinypic.com/2363k1.jpg
Looks a lot like MtGox almost exactly four years ago before the price crashed... http://i67.tinypic.com/al4zdv.jpg
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

Can We Contact Media Sources And Ask Them To Stop Using MTGox Charts?

I'm not intending to circlejerk about how much I hate mtgox, I just say this because it is a serious issue that misleads the public. As of right now, nearly every television station uses MTGox's information when displaying graphics regarding Bitcoin's value.
Mtgox for the past year or so has never been a good indicator of Bitcoin's value, as its prices are always higher due to it being it extremely difficult to get fiat currency out of the exchange. Just recently, they halted Bitcoin withdrawals, which had the opposite effect- Bitcoin is now worth significantly less on that exchange than others.
When news sources use MTGox charts in displaying Bitcoin's price, it makes the crash seem much worse than it really is. Bitcoin's price appears to drop from $900 to $300 through MTGox(66% drop), but its real value and purchasing power really only dropped from about $800 to $600(25% drop).
Can everyone please contact their local media sources and request that they use other charts such as Bitstamp or BTC-e? it provides a much more accurate representation of Bitcoin's value than MTGox, and many news reporters are not aware of this.
I really hope this change can be made. I'm a bit worried that they wont be willing to since MTGox values make their reports far more interesting, but hopefully some will prefer to be honest and use a more accurate graphic.
submitted by skilliard4 to Bitcoin [link] [comments]

Finally, Bitcoiners are right about something!

Bitcoiners are pointing out that volume is falling, and this is the reason the price isn't changing.
This is correct!
But I suspect they do not understand why this is happening or of what consequence it is.
Volume is low not because of HODLers - who wouldn't sell at $1000? - it's because there are no buyers.
The HODLers don't want to sell for less, but no buyers are buying at higher prices, and very few are buying even at the current price.
The price has actually been trending slightly up, but on very low volume. History shows that this when this happens, a crash with high volume always follows.
Why? Because eventually the HODLers have to cave in because there certainly ain't going to be any new buyers in these times (I.e. Mtgox, Neo&Bee, falling price, etc.), and usually the breaking point is something psychologically important like hitting the 50-day or 200-day MA.
Look at this chart and you'll see what I mean: http://i.imgur.com/AUyoOTD.gif
This downtrend has a loooooong way to go folks. As the price continues to fall, volatility will decrease over time until it settles down into a gentle lull at a low price for months on end (or even years!). This happens because you need to get the bagholders to go mad before they'll sell, and that takes a lot of built-up pressure indeed considering the strong feelings the bagholders/HODLers have as their formative conviction.
submitted by DannyBrewster to Bitcoin [link] [comments]

Bitcoin Mt. Gox FLASH CRASH! Bitcoins at $0.01 Each - YouTube MtGox Bitcoins to BTC Bitcoins in 50 seconds Mt Gox CRASHES Bitcoin and Cryptocurrency Market! ($500m Selloff) BITCOIN CRASH: TECHNICAL ANALYSIS AND GEORGE SOROS BUYING BITCOIN?! #315 Mt Gox Bitcoin Preis Crash

Since the current crash is the 2nd largest one in bitcoin history behind Mt. Gox. there is no better comparison to the current situation than Mt. Gox. It would be quite bizarre for all of this to suddenly come to an end after bouncing from 6400 Just as it was in Mt. Gox crash, I expect bitcoin to hit the true bottom and move sideways for a long time before gradually going up. Olaf Carlson-Wee Rode the Bitcoin Boom to Silicon Valley Riches. A mtgox bitcoin crash chart indicating the dates when Bitcoin and Bitcoin Cash was sold by the Mt Gox trustee and the effect it had on the Bitcoin market.Cryptocurrency market in meltdown bitcoin litecoin namecoin as value continues to drop The Independent. Gox bitcoin exchange CEO Karpeles lands new job. Edit:old Dollar mtgox ... Bitcoin is a distributed, worldwide, decentralized digital money … Press J to jump to the feed. Press question mark to learn the rest of the keyboard shortcuts. r/Bitcoin. log in sign up. User account menu. 4. BTC crash coming? Thanks MtGox. Close. 4. Posted by. u/gaog. 5 years ago. Archived. BTC crash coming? Thanks MtGox. The media still doesn't know about the mtgox issues. Granted, it is ... As of the time of writing, Bitcoin is currently trading at $4,043. Given that its all-time high was almost $20,000, it means this is an 80 percent drop. It’s a hard drop but still not Bitcoins worst in terms of percentage and by looking at the above chart displaying the Bitcoin price history. First major crash according to Bitcoin price history Im Laufe des heutigen Abends brach bei Mt. Gox, dem größten virtuellen Börsenplatz für Bitcoins, der Kurs für einen Bitcoin aufgrund eines Hacks von gut 17 auf 0.01$ ein. Binnen Sekunden. Wenige Minuten später stand der Kurs wieder bei gut 14$. Ein Chart des Absturzes (inklusive der Visualisierung des

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Bitcoin Mt. Gox FLASH CRASH! Bitcoins at $0.01 Each - YouTube

Mt Gox CRASHES Bitcoin and Cryptocurrency Market! ($500m Selloff) - Hello everyone, todays video is about the March 7 Bitcoin Crash. The cryptocurrency market has gone through quite a crash today ... Close. This video is unavailable. Try TRADE HILL instead: http://www.tradehill.com/?r=TH-R1323 Price crashes from $17.5 to $0.01. That i not a typo. ONE CENT. Here is the official statement f... Mt Gox BTC selloff / crash after BTC transferred to exchange. How to track Mt. Gox BTC wallets to predict the next Mt. Gox BTC crash. Chart / Wallet Tracker ... BITCOIN PRICE TECHNICAL ANALYSIS. Bitcoin price to 2000, Bitcoin is going to crash. Disclosure: Anything I say is not intended as Financial Advice. This is merely for educational purposes only and ...

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