The Litepresence Report on Cryptocurrency

[presence]

So my one-month subscription ended today, and I'm down slightly. Plus out the cost of CryptoTrader and the $100 for the bot for the month.

Question: should I continue the subscription? Or should I wait for a bit before starting it back up again?

Which bot are you running man?

I think Paladin has been doing well w/ Dragon Slayer B. Part A is really meant for a 'bullish bubble circumstance' It seems to me we are still bear market down.

 

[presence]

 

[presence]

Its my suggestion that disable live traders at cryptotrader.org and review this thread:
https://cryptotrader.org/topics/132352/recent-engine-update-is-this-the-new-normal

alex about 9 hours ago

ok everyone will be given a compensation after we iron all bugs out

 

[presence]

..

HOME >> LATEST NEWS[h=1]MIT Bitcoin Project aims to create a cryptocurrency ecosystem[/h]
[h=2][/h][h=3]Rob Marvin[/h]

April 29, 2014 — Two MIT students, first-year MBA student andBitcoin Club founder Dan Elitzer, and sophomore Jeremy Rubin, have raised US$500 million from MIT alumni and the Bitcoin community to launch the MIT Bitcoin Project.

The ambitious MIT initiative looks to turn the university into a digital currency ecosystem by distributing $100 in bitcoins to each of the 4,528 undergraduate students starting next school year. MIT will become the first location worldwide with widespread access to Bitcoin.

(Related: A look at a Big Data monitoring system)

“Giving students access to cryptocurrencies is analogous to providing them with Internet access at the dawn of the Internet era,” Rubin said in a statement.

There are no set regulations as of yet for how the students can spend, invest, store or sell their bitcoins, but the MIT Bitcoin Club and MIT administration will distribute and monitor the cryptocurrency. The project plans to work with local businesses on how to accept and process bitcoin payments, and a student opt-in policy is also in development. Elitzer and Rubin will collaborate with MIT’s Living Labs to commission academic studies on the bitcoin ecosystem as well.

As of this morning, the fluctuating bitcoin exchange rate shows one bitcoin to be worth approximately $448, which means $100 would amount to approximately 0.22 bitcoins for each MIT student.

 

[presence]

https://bitcoinwisdom.com/bitcoin/difficulty


Difficulty increase past hour.

 

[muh_roads]

Its my suggestion that disable live traders at cryptotrader.org and review this thread:
https://cryptotrader.org/topics/132352/recent-engine-update-is-this-the-new-normal

All 4 Red Dragons have been paused.

They did a good job buying on the way down. It wanted to sell NMC @ 2.1 after buying 1.9 but was feeling greedy and cancelled.

I heard my Reddcoin did well today. I wasn't paying attention and missed whatever happened there I think.

 

[lotsOfCake]

https://bitcoinwisdom.com/bitcoin/difficulty


Difficulty increase past hour.

Part of that (the previous increase in hash rate) is people moving out of sha256 alts and over to Bitcoin. New asics hitting the market en masse soon.

I'm always fascinated when looking at the hash rate increase... It should stop the exponential rise and go linear... I mean it will be limited by Moore's law.

 

[LibertyTeeth]

Hey presence, good to see you again. Interesting news about Whitecoin.

I was running Red Dragon A, and I'd like to continue to be involved. What would you recommend at this time?

Thanks!

 

[lotsOfCake]

heard some fud about whitecoin, better pay attention;
https://twitter.com/search?q=#Whitecoin&src=hash
its (temporarily?) unavailable on mintpal. if i was to guess, it is proof-of-stake related.

 

[lotsOfCake]

(doubleposted by mistake, see next page)

 

[lotsOfCake]

This is not a prediction. It is a way of trying to quantify the support level. It is based on the idea that "If people are pulling out of alts, they probably expect btc to tank or crash".

Note: If I was to speculate wildly, I would guess that ltcbtc has become more stable; stability fosters growth; recovery will be drastic and sudden. It might also be a "bounce off of support" like what happened between the squares in the picture. Don't panic sell, don't panic buy, proceed with rational expectations of what will happen. Sell at tops, buy at dips.

Note2: if you cant see the whole picture, go here : http://tinypic.com/view.php?pic=vyn9y&s=8

 

[FSP-Rebel]

What's up w/ Poloneix? Trading seems to have been frozen all day.

 

[amonasro]

What's up w/ Poloneix? Trading seems to have been frozen all day.

I switched over to MintPal. Much better exchange, great volume (for altcoins) although they don't trade the more obscure coins.

 

[muh_roads]

I switched over to MintPal. Much better exchange, great volume (for altcoins) although they don't trade the more obscure coins.

You might wanna give comkort a look.

I bought some PWNY there in anticipation of brony MLP fags.

 

[lotsOfCake]

My latest doodle:
http://oi58.tinypic.com/351hmhw.jpg
overlaid logarithmic historic bitcoin price, aligned by when bubble started.
source; bitcoinwisdom 1d bitstamp btc/usd

Edit: note that the 4th chart is scaled differently in Y axis since there was no 2nd bubble in that time frame, so it looks like the price is more volatile, when it isn't.

 

[muh_roads]

I'm buying LTC again between 10 & 10.30

 

[PaulConventionWV]

It's really disappointing what this thread has become.

 

[amonasro]

It's really disappointing what this thread has become.

Well, the Bitcoin market is pretty boring lately. Dragon Slayer shouldn't be used unless you're brave and want to run part B so there's not many people talking about it. Regardless of any personal opinion on alts, there is money to be made (or lost) in the altcoin markets now if you play the volatility right and have the extra time to learn how it all works. Pres is well-connected in the crypto community so his tips are usually legit. I would not recommend it to a beginner--if you ride the pumps too high (they resemble mini versions of crypto bubbles) there won't be any liquidity by the time you decide to sell, and the price gets knocked down by other traders within minutes.

I don't want to sound like an ad here, but Pres has been busy with Whitecoin and I've donated some time to promoting it as well. There is a strong community behind it getting the damn thing working and stable after the original dev abandoned it and its blockchain was attacked. These proof-of-stake coins are a bit of a challenge, it seems.

 

[muh_roads]

Grabbed a bit of profit on the Cinni pump, but not as much as I would have liked as I got greedy. Emotions are not your friend while trading.

Paladin, grabbed some LTC at .023, thanks for the tip. I was too distracted by the altcoin markets to notice

How did you do on this? I think it got to 025

 

[amonasro]

How did you do on this? I think it got to 025

Got out @ .0245