BTC and LTC bubbles look like popping

capt.sparrow said:
Phiber said:
My gox does not support LTC only BTC
My gox is the main exchange in oz and this is why it is used : greater liquidity and volumes
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i thought mtgox was in Japan??
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They are, but they have an australian bank account you can deposit to I believe, and the corresponding AUD section on their market.
 
Getbitcoin.com.au charge 4.4% commission but have a good buy price. Coinjar charge less but the buy price is +100AUD to buy in but you can swap out to aussie bank accounts. Both allow entery to market via cash payments from Aussie banks.
 
goldpelican said:
Arbitrage example I just executed.

Sell at $810 AUD on one exchange.

Bought back at $610 AUD on another exchange.

$200 AUD profit per BTC. 9oz of silver added to the stack. This is a real example from this morning. DYODD, because it's only going to work if you can a) get fiat into one exchange, b) get fiat out of the other exchange.

Also easy for the market to move against you. I lost about 4 BTC when the prices went from $200 north because I could not buy back in below prices I sold at.
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That's exactly what it is, that's what I had in my mind as well. But the BTC/LTC transfer will cost as well... or cost "as hell". Some sites charge heavily. I saw one particular site selling LTC above 9 USD (if you buy for USD), but takes LTC (if you sell for USD) for just over 7 USD!

Anyway, the BTC-USD, USD-LTC pairs are a bit like the eurodollars on forex :)
 
Emanance said:
Things are starting to heat up again, perhaps. BTC just broke through it's down trend channel to the upside. Wonder how long it can maintain this.
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It's been above 630 $ when I last checked. Amazing rise.

Imagine, if you would have bought at let's say 375 $ and sold now! Immense ROI. Almost doubled...

It should go down eventually...

I don't know if it's just everyone playing around wanting to generate profits from spread-gaming or if there are serious forces behind the market.

I think there are 12 million Bitcoins out there from the 21 million that will be mined. I suppose prices will go higher and higher as we're getting closer and closer to the peak figure.
 
TreasureHunter said:
I think there are 12 million Bitcoins out there from the 21 million that will be mined. I suppose prices will go higher and higher as we're getting closer and closer to the peak figure.
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127 years to go until the last coin is mined.
 
Looks like the 'bubble bust' on Tuesday & Wednesday could become but a little bump on the western side of a bull market...hopefully :D.

Gox 1 day chart:

7081_gox_1day_221113.jpg


Gox 1 hour chart:

7081_gox_1hr_221113.jpg
 
Mr Medved said:
What at their trading rates? I can't see anything other than "as low as 0.1%". What is the rate for a small trade?
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Rate doesn't concern me coz a small jump in BTC is over 5% already. I like this exchange coz it has Chinese buyers, who directly compare the price with BTCChina... that makes my sell order very attractive.
 
asdfghjkl32 said:
Mr Medved said:
What at their trading rates? I can't see anything other than "as low as 0.1%". What is the rate for a small trade?
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Rate doesn't concern me coz a small jump in BTC is over 5% already. I like this exchange coz it has Chinese buyers, who directly compare the price with BTCChina... that makes my sell order very attractive.
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How much do you get charged for sell orders? 1%? 0.5?
 
RetardedMonkey said:
TreasureHunter said:
I think there are 12 million Bitcoins out there from the 21 million that will be mined. I suppose prices will go higher and higher as we're getting closer and closer to the peak figure.
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127 years to go until the last coin is mined.
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What will be capable of mining BTC in 127 years time? Current generation high-performance ASIC miners will be obsolete in terms of ROI by this time next year! :|
 
whinfell said:
What will be capable of mining BTC in 127 years time? Current generation high-performance ASIC miners will be obsolete in terms of ROI by this time next year! :|
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Quantum computers will probably have destroyed BTC within 10-15 years anyway... :lol:
 
pro$pector said:
Quantum computers will probably have destroyed BTC within 10-15 years anyway... :lol:
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Not possible.

The last block will always be mined in 2140.

If some supercomputer started mining, adding hundreds of PH/s (peta-hashes) and did an entire block within one second, the difficulty algorithm would scale up so that the next block would take the target amount of time to solve, and would require an absolute monster amount of hashing power.
 
RetardedMonkey said:
pro$pector said:
Quantum computers will probably have destroyed BTC within 10-15 years anyway... :lol:
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Not possible.

The last block will always be mined in 2140.

If some supercomputer started mining, adding hundreds of PH/s (peta-hashes) and did an entire block within one second, the difficulty algorithm would scale up so that the next block would take the target amount of time to solve, and would require an absolute monster amount of hashing power.
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i reckon your knowledge on bitcoins now finally make up for some of the previous stuff you've said about PMs so that you could probably drop the Retarded part of your name now ;)
 
RetardedMonkey said:
If some supercomputer started mining, adding hundreds of PH/s (peta-hashes) and did an entire block within one second, the difficulty algorithm would scale up so that the next block would take the target amount of time to solve, and would require an absolute monster amount of hashing power.
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It's not about having masses of raw hashing power, but the power to break the entire algorithm.

Even some of the most knowledgeable BTC geeks admit this is entirely possible (depends on how technology evolves), Moores Law would indicate computer power is going to be immense in 10-20 years.

Then of course there is always 51% attacks, another likely possibility.

BTC is a short term experiment until someone creates the perfect version, it is very flawed on so many levels and most programmers admit that.
 
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