Gold collapsing. Bitcoin UP.

[cypherdoc]

institutional investors coming in:

[doublepost=1446653486][/doublepost]let's get this party rolling:

 

[cypherdoc]

I understand the desire to be conservative, and to test at the limits of whatever the protocol allows. One of the criticisms of the BIP101 proposal I’ve heard from some people is “you haven’t tested the network with gigabyte blocks.” I wonder if the IP designers had colleagues who complained “we haven’t tested the network with a billion computers” – and I wonder what protocol we’d be using on the Internet today if the designers of the IP protocol hadn’t been so forward-looking.

http://gavinandresen.ninja/designing-for-success

 

[cypherdoc]

here we go again with the same 'ol tired already debunked hypocritical comments from idiots like Todd:

 

[rocks]

Things are going to get ugly when the artificial limit kills this rally. We're already at the limit with the increased traffic. I myself have started to move coins for the first time in awhile, I'm sure others are as well...

 

[cypherdoc]

[doublepost=1446658244][/doublepost]oh, and here's a cheery thought. i told you she was lying:

• YELLEN SAYS IF OUTLOOK WORSENED FED MIGHT WEIGH NEGATIVE RATES
• YELLEN SAYS NEGATIVE RATES COULD HELP ENCOURAGE BANKS TO LEND

http://www.zerohedge.com/news/2015-11-04/yellen-says-negative-rates-table-if-outlook-worsened
[doublepost=1446658541][/doublepost]you don't say? would you trust this guy?:

http://www.marketwatch.com/story/fannie-freddie-may-need-to-tap-treasury-fhfa-director-says-2015-11-03?mod=mw_share_twitter

[doublepost=1446658915,1446658109][/doublepost]getting close:

 

[Melbustus]

institutional investors coming in:

Look at $GBTC, the only public-market bitcoin security. 9 days ago, it was trading at $27 (ten shares of GBTC = 1 bitcoin), which was about 10% *below* the underlying value at the time. Right now, it's at $56, roughly 10% *above* the underlying...

Granted, it's a thinly traded asset, but what's that tell you about recent public-market/institutional demand?

 

[cypherdoc]

lol, listen to Carol Massar at 5:15 after Fred Ehrsam explains in detail why blockchains by themselves won't work. i may have underestimated the stupidity of the masses somewhere along here :

http://media.giphy.com/media/YbniyzLEgaJGM/giphy.gif
[doublepost=1446671009][/doublepost]ok, just closed out ZSL @110.42 for, what is that, a 12% gain? not bad for a few days work!

 

[rocks]

From $500 to $400 in a matter of hours, that is the bitcoin I remember. Edit: I have no idea how anyone could price a bid for the auction, will be interesting to see who wins and what price.

 

[MonadTran]

Mein Gott! The spread, the volume, the drama.

 

[cypherdoc]

 

[megadeth]

Jamie Dimon goes on defense for this one. Definitely ruffled some feathers. Proof that the banksters do consider it a threat and are building a position... just in case.
http://fortune.com/video/2015/11/04/jamie-dimon-youre-wasting-your-time-with-bitcoin/

 

[MonadTran]

Meanwhile on Reddit:
https://www.reddit.com/r/haskell/comments/3re0kp/jpmorgan_haskell_team_is_hiring/
The New Product Development group at J.P. Morgan is seeking Haskell engineers ... focused on solutions in blockchain ...

 

[cypherdoc]

Jamie Dimon goes on defense for this one. Definitely ruffled some feathers. Proof that the banksters do consider it a threat and are building a position... just in case.
http://fortune.com/video/2015/11/04/jamie-dimon-youre-wasting-your-time-with-bitcoin/

yeah, what an idiot.

what do you expect the perhaps single most dependent individual on the planet of the Federal Reserve to say?

this is what disruption can do to entrenched players. SV vs. Wall St, a theme i've parroted since the San Jose conference. i know who i'm gonna pick to win.

 

[JVWVU]

Its time to raise the block limit, we are hitting the peak with new Bitcoiners entering the market.

This needs to happen at halving - I support Peter Rs basis but for now and ease

"Make it great, Make it 8 (MB)"

 

[Justus Ranvier]

yeah, what an idiot.

I'm actually impressed that he accurately perceives the threat and admits that Bitcoin is an existential threat to the US Dollar (and all other central bank currencies), and that a Bitcoin world is incompatible with the existence of governments in their present form.

 

[cypherdoc]

i found out what started the selloff:

http://www.11alive.com/story/news/local/2015/11/04/thieves-steal-bitcoin-atm-atlanta-store/75166874/

 

[cypherdoc]

decent article and perspective by Jeffrey Tucker:

http://fee.org/anythingpeaceful/everyone-is-talking-about-bitcoin-again/
[doublepost=1446691886][/doublepost]go Roger:

 

[rocks]

Thermos now threatening to ban coinbase from /r/bitcoin. I hope he does it will make the farce complete.

 

[Zangelbert Bingledack]

Adam Back and Mark Friedenbach are out there making the same old arguments on reddit today. Time to bang:

He very clearly laid out the free market vs. centralized control argument, and why the free market path is always the better option.

This is a great way to position BU IMHO, as the free market alternative. BU will not cause large blocks, instead it will allow miners and users to determine the appropriate balance between fees and size through open market mechanisms, which are always better than a small group of controllers.

The small block sizers are arguing for centralized decision making over letting the market make decisions. This is the basic truth of the situation that is against bitcoin's principles, and the argument to keep banging them with. All of the technical arguments are just methods to side track and confuse the issue.

Edit: If this run keeps going we are going to run out of transaction space sooner than people realize, it would be great to have BU as a standing and ready alternative for when that day happens.

 

[Zarathustra]

Adam ...

[doublepost=1446718055,1446717369][/doublepost]Adam ...
Cherry picking a timespan that represents the 2 year correction phase.