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Bitcoin - Part 2

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Damn,

I should have thought of that, the wallet IDs would be known to the company, or recoverable from the wallet software and from there they just have to pull out all the transactions from the block chain.

Hence the "uh-oh" moment.

Meanwhile, I've just bought $10 worth of bitcoins, the kind that are meaningless, shiny bits of metal. I'd been wondering where the various pictures of piles of shiny bitcoins were coming from, and it just occurred to me to check on amazon.

No idea what I'm going to do with them, but I do like shiny.

It's entirely possible, but probably unlikely, that one day they'll be worth more than what I paid for them yesterday.
 
novaphile said:
I dunno.

At least psionl0 doesn't buy things because they're shiny.
Click to expand...

I have a pile of those coins on my desk. I have several variations on the bitcoin, an etherium coin, and some other replica coins including a fake krugerand. I also have some magnets and can use them to link them all together to make a curtain of gold coins suspended from my file cabinets.
 
Ah, that sounds like fun.

Unfortunately the ones I have just ordered are a copper/aluminium mix, or perhaps copper core, plated with copper and aluminium.

(Thus no magnets).
 
Flirting with 5K today - what's going on here? I got a text from my wife saying "Bitcoin is exploding!" I'm terrified I'm about to own a Bitcoin.
 
Belz... said:
Get rid of her before it's too late!
Click to expand...

I'm too lazy to look it up now, but I read that a 'Whale' is pumping up the price.

Not sure that checks out, I've been seeing more and more positive articles, blog-posts, Tweets etc about crypto for about two months.

So there is a changing mood out there.

Maybe it works like this:
-PR and activism hype crypto, much of it well-intentioned.
-The Internet echo chamber starts to repeat the talking points
-The public starts to buy into it
-Crypto starts to rise
-Some Whales start to pump the price
-mainstream media reports about it
-Public gets hopeful and buys crypto
-Whales hang on for a while and then take profit
-Crypto slides
-Mainstream media reports it
-Crypto crashes
-Libertarian/Anarchist hopes dashed again!
-Rinse
-Repeat
 
Eddie Dane said:
Maybe it works like this:
-PR and activism hype crypto, much of it well-intentioned.
-The Internet echo chamber starts to repeat the talking points
-The public starts to buy into it
-Crypto starts to rise
-Some Whales start to pump the price
-mainstream media reports about it
-Public gets hopeful and buys crypto
-Whales hang on for a while and then take profit
-Crypto slides
-Mainstream media reports it
-Crypto crashes
-Libertarian/Anarchist hopes dashed again!
-Rinse
-Repeat
Click to expand...
I doubt it. The price would be more predictable if it kept repeating the same pattern over and over again.

All we know is that sudden price changes are usually associated with sudden trading spikes. Even then, we don't know if the spikes are due to the decision of a "whale" or a larger number of smaller BTC holders acting in unison. And there is no way to tell when such a trading spike will occur.
 
Belz... said:
Well, it does keep repeating the same pattern, roughly: go up, crash, go more up, crash, go more more up, crash...
Click to expand...
Maybe so but it is not a regular pattern and is not explained by the theory that Eddie Dane made up. So there is no predictability.
 
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