This is the most natural thing a multi-currency exchange should do. Of course if they take too high fees, others can do arbitrage for cheaper. Basically if the fee is 1%, an actual $$ wall should be 1% stronger than the auto-arbitrage-€-wall. A "buy 1000Ƀ@$120" would be a "buy 1000Ƀ@$119.8" in all other currencies. If you can exchange $$ for €€ cheaper, you can squeeze your offer in between.

I am 100% back in fiat awaiting further collapse of the bubble.

Maybe it was 2011, I am pulling numbers from my memory. My point was though that registration date is not everything.

Bottom hit?


( chart from: http://bitcoin.stoto.net/ )

I sold a big amount (approx. 40% of my holdings) for the ASIC's. That happened on Monday at $118ish. Today I sold a similar chunk, and this is for speculation. Yeah, you are right that I always preach about not selling the precious coins. But still, this is one of those occasions were I cannot miss the opportunity for cheaper coins. One thing is to speculate to catch the bottom of the weekly dip, which I don't do, and a very different one is to hold on all your coins desperately during a bubble deflation.

Still, I a have paper wallet I'll never touch. I cannot be 100% out of BTC, I'm not mentally prepared for that

I mean crash to the floor so greedy me can buy cheaply and assume that bubble is over.

All fiat, I have them proportionally spread out in 30-60 area.

85$ bottom for this fall!
Any other predictions? 

If I predict for the WHOLE weekend then it can easily be down to 60$.
But I was talking for the next 12h at max...
But who knows?  

If ...
If ...
If ...


If I were rich, I would be rich.
Nice, but who cares?


Bitcoin will never ever be close to be used as much as gold is used now.
Come back in real life plz.

This might explain it better ... dated today

https://mtgox.com/press_release_20130620.html

Another boring weekend for BTC.. there are more action at the LTC market now.

It's simple, MtGox says they will accept Litecoin soon, the price rises 1-2 dollars. They fail to deliver, it drops 1-2 dollars.  Once it finally is on MtGox, it will do the same.

Yes, but the recent rise is definitely due to MtGox's press release.  Same with the last few rises.  I wouldn't be surprised if Gox picks up a bunch of Litecoins over on BTC-e before they release the press.

Here, the basic premise is this:
BTC is not locked in to any cryptographic (or other) standard. It is open source decided upon by the community. If Scrypt is the way to go, then we will use Scrypt. Miners wouldn't like that but if it meant survival then all they lose is the hardware, NOT their bitcoins. (I'm sure they would prefer losing rigs rather than rigs AND coins.) But that is an extreme scenario, doing smaller things like changing confirmation times and such, would be done if it benefits us. We are in the early stages, seeing what is best and as we learn more we will just change the code accordingly.

I think it is good to have LTC around, just in case. But BTC can adapt to be most anything we need it to be.

IAS

Yeah, what would be better than a big war where every bank stops dealing with Bitcoin and makes it near impossible to get money in and out of the exchanges. Can't wait for that.

Seriously, you don't understand what you're wishing for. Get out of fantasy land man.
The governments and banks could destroy Bitcoin for breakfast if they wanted to.

Banks shutting down anything Bitcoin isn't good news. Really, it isn't.
If only one can survive, it won't be Bitcoin. Anyone living in reality can see that.

We are all here

Judging from this thread, I think many people here are buying high.



The forums supply must be pretty good.

I like big buds.

Well its pretty clear that around $80ish we will have some real support. Expect a bounce around that level, but be careful with catching falling knives. Sooner or later we will fall below $80ish, the big question is "when" and after "how many bounces". Two months and a half passed after the April, 10th crash, and it looks very much like that the decline will be in fact longer than the 5-months bear we had in 2011. Honestly, I hope BrightAnarchist is not right predicting a multi-year bear market, that would be disheartening, and BTC is so small that just a few big players' moves can reverse the trend.

Yeah, the YEARS part has me wondering if I should withdraw the fiat I have on Gox while I wait for the entry point I'm looking for. I'm just not very comfortable having it there for too long. I expected the bottom to be reached during the summer, thus having the fiat on Gox for two/three months didn't bother me, but seeing this bear my be much longer than I expected I have to confess my "withdraw" finger is starting to itch hard. Very hard.

Mmmm... Yeah.


My bet is that it will stay sub $100 for many months. It staid below $32 (or below $16, to actually correlate $100 to a 2011 bubble level) for more than a year and a half. That could be "very long" or "very short" depending on your timescale. For me that is "very short" from an investment point of view, but "very long" for an active trading point of view.

I only like raping those who deserve it - so I exclusively rape republicans.

Smallish withdrawals took 7/10 days to arrive to my account pre-bubble, whie now it looks like the bigger the withdrawals I request, the quicker they arrive to my account. Funny.

Anyhow, Gox is shitty for trading and its management is amateurish, but I have to say in their defense that they never crapped on me regarding withdrawals. I have no complain in that sense.

It will probably keep going up until Gox adds it and as atlantis grows.

Oh yes, we still might bounce off of 82 but we also might just hit 70 first and violently come back up.
I don't have the where with all to trade this...

Of course you are. 

Here, may this help you :

Exactly, if it is a "floor" with no buys coming through then I am not impressed. It seems like just another silence before the storm.
But again, we are on levels where we could bounce violently. But I don't feel like gambling...

I sold all my trading coins (100 BTC) @ average 101.97 USD/BTC. I think I'll buy back @ 80-85 USD/BTC.

Keep in mind that there are ETF's and BTC lenders now.
So, Bitcoins can be borrowed and sold short in a numerous ways.
And...
It is a currency according to FinCEN.... so...
The Federal Reserve is within its charter to manipulate it, and with a tiny fraction of one day's money creation, put the price wherever it wants, 50, 5, 500, 50,000.  Whatever suits them, at will, whenever they like.  And they can do it with their reserve banking partners, with as many billions of fiat as they need.

Enter the leviathan, whales beware.

So why dump your 7k coins at 83 and not at 100 some days ago?? doesn't make sense imho

fuck that BS i'm buying!

Working through this thread cos I went to sleep with a (small) buy order at $71.11 - it filled of course, and I sold back out at $77.  Not sure why people on this thread aren't paying more attention to you and IAS?  I'm as bullish as anyone about Bitcoin as a disruptive technology, but paying too much for it doesn't help it *at all*

yeah.. like i always do    sell low.. buy higher
goddamit.. sold at 72  .. drove to work..    its 78 - 79 !

every fucking time!!! i'm on the way to or from work ..   Think 'm going to quit my job..

Shorting essentially is just the opposite of buying. If you think the price will go down then short, if you think the price will go up then go long. In a bear market, shorting is usually safer than buying. Then again, I wouldn't recommend trading at all, unless you know how to trade well and safely.

I myself usually profit more from shorting than going long. People often get in the mentality where they're afraid to not hold BTC, let alone to short it, which is silly. No one should sleep holding bitcoin at this point, unless one has some credible certainty that the price will rise.

I'm shorting now.

1. You don't need to try and catch every upward rise, while you risk catching every downward fall. At this point, the falls go further down than the rises go up. A missed profit is not a loss, but if the market moves against you, it is a loss. Protect your fiat in times like these.

2. High risk is only for high gains. If you don't expect the price to move in a direction significantly, and the risk is high, then don't trade it.

3. Trading is different than investing. Investors can wait the longest time, holding through every up and down for the price to finally go where they want it. Trading takes more day to day risk management.

Have some patience, and don't be foolish. We're in a bear market.

The ETF may or may not happen. They filed the paperwork. It will be months before we know. It could help add exposure to BTC though and that is great. In and of itself it is not much.

The MtGox release is NOT good news. They are essentially saying "We almost got our problem resolved. Things will still be slow for a while until we catch up." It is not good news to just function as expected.
Good news will be in a few weeks when they have the new trade engine. But LTC is being released around then (perhaps) so we'll see the effect.

Not to be a downer but just calling it like it is.

I'm all in on BTC and would love to short here but the bull pressure is not relentless but annoyingly persistent.

27k BTC over at bitstamp, higher than the 21k I've seen the highest so far.

What's most fundamentally significant is of course that as I and many other non-tinfoils suspected, MtGox is just fine and withdrawals are re-enabled, meaning that The Great Dollar Extraction can freely play out now.

You think this is panic? We've seen nothing yet.

See that's the thing. $1500 isn't profit. BTC is profit. Any fool can make $ in this market, but to increase your share of the limited supply of bitcoin is what will really matter in the end.

all of the coins that you guys sold have been bought up.  this wall at 80 is holding the price down so bitcoin can be bought at a low price.  look behind the wall and this will give an indercation of the availability of bitcoins.  when that wall is pulled or sold there won't be many coins available.

The walls were large enough that it looked like it was likely it would have been the hammer, but they only stayed up for a few minutes before being pulled, so no.

You may not know it, but your (subconscious) biases are showing through in your TA.  Why select some volume movements as "flat" (when they are going marginally up), but "down" (when they are going marginally down). See, I can draw lines to illustrate a point too:



Of course, my lines and arrows prove nothing -- other than showing that your lines and arrows prove nothing too.

In terms of volume -- in the short term, people are waiting and seeing right now. If the wall at 80 comes down, there will be a bigger buy-in, and the next volume bar will be bigger. The longer it takes, the bigger it will potentially be. Things are a bit confuised right now as the market has been put off by dumpers/manipulators all along.

I think that this makes sense for day trading (if sufficient daily volatility)



And of course, daily traders he must know: where the support and resistance is too.

That's that that this is

I can't believe I didn't take the opportunity to buy back in at $68.

Oh come on, 4 out of 5 ain't bad. Plus I put a "?"  

Wouldn't that be ~96?

If they ever fill, you won't want them anymore.  

Are you in Germany by any chance?

Nothing in life is easy it takes commitment and dedication.

You have two choices:

• You work for the money
• Money works for you

A new high above the recent one of 104 will be made.

It is possible that prior to making a new high Mrs Market will decide to dive to 86 though.

+420

Gotcha. What you referred to as inflation, I see as increase in supply.

I tend to think of inflation as a function of value, as in how much of a currency is required to buy something.

With fiat currencies, inflation is usually measured by indices covering everything from wages to fuel prices. It takes more USD each year to buy a gallon of gas or hire a laborer for an hour.  Bitcoin is referred to as deflationary because it takes fewer and fewer coins each year to buy something, be it an ASIC miner, an American dollar or shitloads of herbs.

I'm starting to think you are mentally challenged or something.
You already looked like a complete fool twice over the past 2 weeks and you just go on like nothing happened. Just like that other delusional tool Rampion. What is wrong with you people? Don't you have any shame?
Don't you see you were wrong twice already? Do you just ignore it or what?
I'm just totally amazed by your behaviour. You really don't seem sane.

Still doesn't mean much if people are simply buying, holding and waiting for better price to sell. There is no reason to sell for current prices. I am buying actually more as soon as i can.

What is "Trotter indicator", I have never heared of it? It seems to make amazingly precise predictions because these are exactly the price levels we are going to see.

tschatsching!

words of wisdom award!

Is this a variant of the 1% controlling 40% of the wealth argument?  In that case, money = money.  After the initial reshuffling of the deck, the same disparities will begin to emerge if the rules of the game don't change.  Bitcoin already has its millionaires & paupers, and even in this microcosm the spread between the haves & have nots is pretty big.

You don't think there were tycoons & beggars with gold standard?  We had the silly thing in US 'til the seventies!  As far as lending with Bitcoin, i can talk you through many interesting lending schemes where the total number of bitcoins in circulation is not the ceiling (hint:  when you borrow a million dollars from a bank, do you take it home in a trunk?)

What point are you trying to make?

The "evidence" the bears have been pointing to unisono is the pattern one can see on the 3 month chart. 3 x lower highs and 2 x lower lows. The idea is that this pattern will continue and next we'll see a lower low (<$67). One can even find similarities within the patterns and the predictive method used is extrapolation of the pattern.

I'm not ruling out a lower low. One would probably put it at $50 and incidentally we would then have reached the post-bubble low for a second time putting in a double bottom with extremely high volume and huge probability of a bounce there.

There would then (during the bounce back up) be talk of both reversal and bull trap / dead cat bounces.

If we subsequently break $50 after that, there will be the long-awaited capitulation. Bulls will be broken and people who didn't sell substantially post-bubble would start considering it and some will. People will leave the forums pissed off at this scam that is bitcoin and media will start some negative talk. There would be long squeezes of leveraged bulls who fell for the trap and downward accelleration. Raw irrational panic. People who were waiting for cheap coins will still be waiting, infected by the fear and panic and shocked their bearish dreams came true. They would not buy until things turn around substantially. Many coins would change hands at the real bottom, however, and this is when real money is made and lost.

I hope the bears are happy about me describing this fantasy. Again: I don't rule it out, but neither should the bears rule out the possibility we won't put in a new low below $67 and just sneak slowly sideways/up helped by good fundamentals.

There's no "evidence staring us in the eye". Noone knows, everyone believes.

It's not, and it shouldn't.

It is closed-source, centralized, has a currency called XRP that is 100% premined and in the hands of the creators, and the whole thing is owned by a for-profit company.

Uhmm... so... we gonna retest 99-100?

Yeah. I'm a cool kid.

That depends on the time period. If mtgox goes down the way it's feared it would things can go very quickly. But I do think you should be able to get out in time when that happens. (If you are on bitstamp)

I think of it this way: Whatever the reason for mtgox unable to provide liquidity, be it problems with the FEDs, bankrupcy or banking partners setting them up, it should not affect the other exchanges immediately, either because they are not at all affected or didn't generate enough attention. They might be affected by the wake of mtgox but I think it would take at least a week for that to happen, during which you should be able to get your money out.

The safest exchange right now is virwox imo since they have a long history with SLL and even if something really weird happens they should remain in operation even in the worst scenario. And they are the only exchange which provides paypal.

this is either extremely crazy good stuff or a very well-executed scam.

Perhaps a bit separate a topic, but worth noting:

Where I see Pay Pal ruling is if they became an entry point into BTC. If they became the new Gox then the government would probably get it's regulations followed. I'm not saying I want that, but Pay Pal has the infrastructure and such to get BTC rolling. It would help BTC's growth and accepted immensely. Perhaps we'd then see that killer app. It would cost Pay Pal some of their business (and eventually maybe a lot of their business) but they would also have a foothold in a new economy (but for how long? e.g. - decentralized exchanges, etc.)

I did insert my username and password correctly, but I did not get into my account. Then it said "You're blocked for 24 hours, too many attempts". I did write to support, what else can I do than just wait for 24 h and try to again recover my password or if they reply to my message? I have OTP so I don't think possible hacker can withdraw my money, but I can't trade myself either and I did though that I would buy and now I can't...

Can't you just go to another internet connection - public wifi - to prove or disprove the ip block excuse?

Yeah, have to try that next. I go to near library to test this. Luckily the trend is down so I'm not going to buy now =)

I tried to recover password in another network, but it still says my ip is blocked. So this means this ip explanation is bs?

"Sorry I just looked in to your ticket and it looks like our developers are still working on this and they haven't got a way out still.

however they are putting in their best efforts to have this sorted out and we are expecting to have positive responce soon

Sorry at this point we do not have access to this information however looks like they are working hard to have this sorted out soon."

This is their typical support desk answer.

The volume on bitstamp is a joke.

I find it easier to fulfill an order on btc-e tbh.

https://bitcointalk.org/index.php?topic=272454.0

There are two more complaints in the main withdrawal delays thread: someone claims he has not been able to take coins out since July 29 and someone else claims that he always gets an error message saying his IP was banned due to too many attempts - even if he tries to connect with another computer and different IP.

http://www.reddit.com/r/Bitcoin/comments/1k9jhv/congress_appropriations_bill_directs_fbi_to/

a lot of shit is gonna go down soon
i'm happy to be part of the bitcoin world, always exciting news 

Wall at 112 eaten, price going down, possible panic sale.

Oh yes, bid sum dropped like a rock, price should follow.

eheheh, good one.

The one screen name that is the prescription you need. How ironic 
But I recommend you do it supervised... And no wimpy dosages. 5g dried

I had already promised not to make any more BTCUSD calls. Even Shroomskit criticized me for posting them 

If you were in my shoes would you post any calls after having being criticized by him?

But I will be watching BTCUSD with great interest.

I am a harmless being. I don't want to cause any headaches on his end nor want to increase his mushroom intake

Yes 

It seems that way, I suspect that the owner of the $125 wall is getting people to bid in front of him, then when there's a lot of asks he's buying them all up.  I've noticed that those big buys always seem to go up to his wall but never buy into it, which also makes me think it's the same person.  I'd expect that if others start buying into his wall or getting too close to it that he'll take it away and the price will go above $125

I think there will soon be good trading opportunities with LTC.

What am I looking at?

you taunted him, well done!

502 Bad Gateway
nginx/1.2.1

Not Accessible?

Based on the number of triangles in the last month I've wondered if the whales artificially control the creation of triangles using methods like what you are describing. Create the triangle and then punch through it causing a surge of others to join in and help push things up as they follow. I've ponded this before during others times in the market.

For those wondering where the 136 wall went, chartbuddy IS your friend.

Looks like this is the end of this particular whale's cash. Unless he knew something, and we are going to rocket up in these coming days... its time to go back down. No one is buying at these prices, all cashing out. Bid depth? None.

Hope I'm wrong, still holding on to my $146 coins.

damn how do you read these things?
Could somebody explain?

When I got the voicemail that was my first concern. I assumed this was a follow up to the locking oft PayPal account and funds being held. I called my friend who introduced me to PayPal in late 2011. I told him that I didn't know if I felt comfortable with making a call like this to discuss a matter that had been settled. He said a call wouldn't hurt.

When I called back Mike was very nice. He stated that I have sold a lot of Bitcoin on eBay and wanted to know my experience with it and was it positive. I told him that it was a very good experience up until the PayPal incident. I let him know that I thought eBay was one of the quickest and easiest methods for people to acquire bitcoin because they already have accounts and funds attached so purchasing was easy an instant and most people don't want to wait when they want something. We laughed about living in a world where everything has to be "right now". He mentioned that they were considering policy changes to allow it to be sold but he stated that "we can't ask our user to register with Fincen" I agreed its too costly. We then discussed that campbx only makes you register your KYC and AML info if it is above $1,000 per day per person so maybe there is a level of sales they could permit without being a MSB? He said that was a good question and believes it may be a $1,000 threshold. Then we spoke about PayPal already being a MSB so when I sell something to someone abroad and they pay in Euros I don't receive Euros I receive USD so why couldn't PayPal convert the currency a user paid with to BTC and transfer me BTC for BTC? If I sold a bitcoin/Casascius coin for $200 and BTC was $100 at the time of payment they convert it and send me 2BTC instead of USD. Or instead of making that complicated since the payment was being made to PayPal who is a MSB and then transferred to me wouldn't that mean only Paypal had to be the MSB? We spoke a little more about it and he said they are just trying to wrap themselves around it and stay out front.

Like I said I would love to have any hero member call today and verify it to be a truthful conversation. It's pretty simple call him up and say "My acquaintance Adam Graham said that you reached out to him regarding Bitcoin and possibly allowing some use of it on eBay and PayPal and he suggested I give you a call, he felt I would be better equipped to handle some of your questions regarding it as I have been involved with bitcoin for quite sometime" and see where the conversation goes.

I think we will see a policy update in the near future allowing virtual currency sales in small amounts that don't violate Fincen guidelines and possibly BTC integrated into the PayPal system. BTC could easily be integrated into PayPal because you would still need a physical currency funding source attached to your account and if a claim was filed against you and they paid you $200 USD worth of BTC at the time of sale they would simply take $200 USD out of your fiat account. It's not that difficult if you think about it. User pays $200 USD PayPal sends $200 BTC, user files claim and wins, PayPal deducts $200 from your fiat account.

So who is going to call and verify I am telling the truth that I received a call regarding this?

Listen, last thing I'm going to say regarding the validity of the phone call. For those who doubt me I am more than willing to have the phone call verified by any trustworthy hero member.

To be honest I was so taken back by the call I didn't even get to ask the questions like, how likely is this, how close are you, etc.

Haha. I want to really really bad! I think I might. I'm just going to say I was so taken back by the call I didn't get to ask the important questions. I want a hero member conferenced in and recording to verify!

amazing lol 

you have discovered a new formation in TA - the...dog lol. Is this bullish or bearish?

That's a bit of a wall (first time walls have been mentioned in here in a fair few pages, it seems!) on 135.
Hammertime? or just propping up?

I believe it will rise much higher than 266 over the next year... Still waiting for a suitable entry point to go all-in.

Okay then, within a few seconds of me selling at $129 that whale bought his 5000BTC and then walled off the bid side at $135, just as if he'd been waiting for me to do that. (do whales have spy cameras everywhere?).  Then I ended up buying in a few cents above his wall, compounding my mistake.

Fortunately, as I've said before, because I only have a few BTC this is annoying, not a disaster and I will make it back again.  Had I been trading a few thousand BTC I'd be flipping out about that right now!  However, I think I can survive losing 0.15BTC, the lesson is worth the price.

Oh well, mistakes are there to be learnt from

Interesting BTC is dropping, while Peercoin is starting to gain volume on exchanges like Crypto-Trade.com just released trading PPC 2 days ago.
PPC is starting to make gains to catch up on BTC now. It will be the curreny Bitcoiners switch over in the event Bitcoin ever suffers a 51% attack since it's compatible with ASICs and uses the same hashing algorithm, I guess it's just a hedge for fear of 51% attack.

... and then comes big buy when most people on the forums expecting something like this.

Bitcoinwisdom is showing a wall of 2500BTC @$135, ClarkMoody doesn't show it at all yet sales are going through at that price

Below is my hypothesis / speculation (nothing more than a speculation of an old man) from yesterday of what I though MIGHT be possible today / tomorrow. I put my buy order aggressively low.

We'll see what happens if Gox's feed works again

The frequency of the buys have been the same some time, but now bullets seem to be running out?

even worst, my friend 5 hours earlier needed cash to buy something,  I told him that he can sell me some BTC, I took all 17.5BTC he had at 126.88$ , called me later to tell that he feels sorry , I asked he feels sorry about what then he just replied the price just drooped for 8$, when I went to my PC it was already at 116$ .... just checked the SR news ... and my brain was on sell mode .... my wife told me to calm down and I was like this is my chance this my chance to make some profit....


I would stick to the 8BTC that i could make at 85$, I am so mad at my self now.

By the way: what is "Activity: 420" supposed to mean?

lol

I'll hold my short for a few more seconds

this crash is going to be....horrendous

Anyone day trade there and get lucky? Those were turbulent waves, and amazingly profitable if you rode them skillfully.

Are you sure you are reading that chart correctly?

Maybe this guy plans a moderate crash. If he set a 10k ask wall at $170 and removes most of his bids (he has probably 70% of bids from $170) we are near $150 without much of others help. 

hey guys.

Im new at this and today logged on my bitstamp account. Is there a decent way to read the order book to figure out what kinda price trend is ocming up next?

Risk management might suffer from faulty logic.

What is the riskiest?

An investment with average risk of loss and high potential reward (buy and hold btc),
or an investment with low risk of loss and average potential reward (sell btc as it goes up and lock in profit)?

It depends, risk of losing money is the highest in first, but risk of missing out on a rare opportunity to become a billionaire is highest in second.

My idea exactly. I think we might be at the top. Or near it.

It's also possible everyone who wanted to learn about bitcoin already did that back in april, and when it does hit the media those people will be like "meh, again? I'm not falling for this again!".

Exactly, but doing chart-analysis helps to have at least a hint when buy/sell

Well yeah, but its like when rmbtb CNY went to 1500 the other day.. no other exchanges gave a fuck. Because they arent significant. Significance comes in the form of volume and trust.

Bitstamp is #1 in that I think. Followed by Gox.

Then maybe BTC-China and BTC-E.

Where? I see only 1240.

220 wall pulled or eaten?

Pulled my sell order at 265... Convinced we are in for a shock in the next couple of hours.

Crash at 280. Until then "choo choo" "

for sure we are going to retest the previous highs (it actually had hit 300 on btchina in april)

it kind of amazes me how much fiat was sitting around at gox this whole time  (it is not as if people are wiring funds to gox when price is way cheaper on a few exchanges), and the fact that this money just watched BTC go so low a few times and then just sat there for months until the most expensive time to start buying

ONE CANNOT WITHDRAW! WHY SO LOYAL?

Hey, we have a nice symmetrical triangle, that's bullish, isn't it?

EDIT: I just realized what is my post number, well now it's bullish for sure

oops

You'll see 150$ tomorrow. Don't fall asleep.

As far as I've seen, most people accept already that silk road was an important driver of the demand for bitcoins (outside of speculative bubbles), and so the price, the surprise is just how tight the relationship appears to be.

C'mon, you know it's true really....

Spidey sense is tingling

This triangle?

I approve of this tangent. I am pretty much convinced that the choice of a society about which drugs to ban and which drugs to openly endorse gives away its intentions very well. Also the drugs the society uses are directly correlated to the value-systems of said society. Not sure if as a cause, or an effect, though.

Endorsed drugs today include caffeine and sugar (to keep you energized and productive at work), nicotine (to help you cope with the stress-levels induced by being high on sugar and caffeine all the time) and alcohol (to help you release the pent up tension from work and help you forget how shitty your life is). Banned drugs include Cocaine (more profitable to traffic it when it's illegal), Marijuana (which threatens a lot of established cartels in pharmacology and medicine. It also makes you less likely to work very hard, especially when also realizing that the work is not worth doing) and hallucinogens like LSD, mushrooms etc. (which dissolve ordinary social conditioning and support values antagonistic to the establishment).

A pretty good book about human history in terms of which culture has been using which drugs and what it meant for that culture is "Food of the Gods" by Terence McKenna. Recommended!

Yeah, the times are back..

Bitstamp-only as far as I know, might affect other exchanges (Mt. Gox. users not affected!).

https://www.bitstamp.net/article/upcoming-bank-holidays-oct-31st-and-nov-1st/

fine by me. There's the bitstamp wall observer thread, but I think we can easily have a general one.

Just need to get used to quote prices along with exchange.

Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

i like to keep it long, for google searches

yeah, check your wallet, you should have half as many "newbits" in there

Yeah, screw this terrible investment if we can't even do 10% on a daily basis!

I'm on stamp but stampers stare at the gox ticker

can anyone recommend a good btc price alarm which I could use to report btcchina price changes?

Cheers

Would someome pay $1,000 for a currency he cannot practically use for the next few years? I think this runup may be somewhat limited this time. It gets harder for BTC to continue annual multipliers of 10-20x.

I was interested in the pattern  

In March, we went +55% in 4 days from 47$ to 73$ :
http://bitcoincharts.com/charts/mtgoxUSD#rg60zczsg2013-03-18zeg2013-03-21ztgSzm1g10zm2g25zvzp

In the last 4 days, we went +59% from 169€ to 269€.

Wow, you may be right, maybe this bubble WON'T pop! (right now) I should have checked previous bitcoin increases more thoroughly...

Well, I guess in that case I'll just diversify into gold and silver with those "useless" € I just got trying to sell at the top...

Yeah, but that rebound could be so fast you would miss it (you know : at work, or asleep...), or it could be barely higher than before the increase, like this april...

Because I guess that's would just be admitting defeat. And if I sold at 15$ or lower after buying at 28$ in 2011 I think I would have been so burned that I wouldn't have bought back in at 4$.

So I guess I'm going to stop trying to trade and just hold (and sell once in a while)... Investing additional funds at this point is too risky in the big picture, since with these price increases I now already have 90%+ of my assets in bitcoins...

yeah, about that second dip: it's not happening (except it has a little in china, but not below the first low). should've happened by now (usually 20-40 minutes after first move down), so I think it wont.

didn't mean to criticize your plan. I had the same one, just bought back in (trading with max 2% here myself, btw)

it's still possible to dip down now... who knows, this is bitcoin.

Went from 348 -> 300 in stamp so i sold 1/6 of my coins in first rebound at 330. I had 100% of all my wealth in coins (i don't have any loan). Lets see what happens next.

Truth.

Really don't know what to make of it myself. Been holding fiat since $152. I really can't compare the April crash as I wasn't active during it, but can anyone else who was give opinion? Was the recovery as quick and strong when the price dropped ~Ł40 during mini dumps etc? I just can't see how this current price could be reversed hard as there is so much money waiting to purchase on every dip.....

The difference between April and November is China. 

There's also the fact that China seem to have been leading this rally and it's the middle of the night over there now

We maybe have a small break now because fiat doesn't move on weekends (maybe huans?). Speculators maybe start to buy in sunday morning, before the monday money. Price might go little bit lower during the break.

If this is all that the bears can achieve on a SUnday, I could say our hope of buying more at a cheaper price is pretty dim.

At this point, instead of acceptable or not, I wonder about INTENTIONAL or not.

At this moment there is to much volatility, the price can go anywhere. I'm bearish right now so my opinion is biased, but I think it's a very risky moment to buy bitcoins. I would wait three days more.

I don't understand your edit, what do you mean? bitstamp already break'd 300..

Bought some extra coins at 221€
C'mon bulls, help me turn this trend around

I think we can go low for a day or two, there is still room to go down, we are a little overbought:



But anyway, this is Bitcoin and i found that the correction has been enought so my count is:



We almost touched the hourly MA support and bounced from it, we can test it again and bounce stronger from about $285, this will be a great opportunity to go long.

Toughts?

So few coins in Gox that I am sure a 5000 BTC wallmaker could churn out some profit today...

The Bitstamp price is quite irrelevant.

think its not a good time to short isnt it ?

He isn't stating that he's the one taking advantage of this .

First negative statement from Chinese government and it will be raining cheap coins. This 'china rally' looks good, feels like bitcoins going somewhere but the slightest sniff of the Chinese people feeling any sort of financial 'freedom' and the rug will be pulled from under them. In the long run this will probably be bad. Price will plummit, hobby investors who bought in at 300+ will see their investments dissapear. Not good for bitcoin.

Take us back to a pre-China steady incline, we will go
slower but stronger in the long run.

Damn that sounds a bit depressing.

I have more stuff in you-know-what-logscale thread. We are actually already doing overspeed. This month's trendtarget was revised down to $296. The big retracement of Apr 10 started when we were 3.9x trendtarget.

That could actually be worth it.

I just got locked out of my gox account, it's asking me for a yubikey and stating Invalid code sent when i hit enter, I dont have a yubikey.

Now i was blocked for too many requests from my IP for 24 hours AND i can't log in, worked fine 2 hours ago.  They still havent responded to my support request.

Goxxed. Thats what I get for giving them a second chance.

Seems like you are wanting to discuss semantics to intentionally miss the point.

The point is actually pretty simple: If the USD were to go down tomorrow, China's economy and CNY would be among the most affected, if not the most.

Remember also that they thrive on exports. Unless you count the 28 countries in the EU as a whole, the US is their biggest buyer.

The depreciation of the USD is not in their best interest right now.

You can not sustain an economic strategy completely oriented to being a cheap exporter when you're suddenly not cheap anymore.

Very long-term might be different, as I said above, they seem to be starting to shift their US bond holding to bitcoins.

I did just before it took off from $200 because I didn't want to send ID to anyone else and thought it would take longer too.. I'd have bought from other sources but they all seemed to be out when I checked.

Might have to roll one tonight in celebration..

Then nothin' but good times ahead.

I've been feeling that way for the last three days. Tons of media hype. Skyrocketing prices. Large drops and rises. I feel like $445-450 is the new $266 an the bottom is about to fall out any second now.

Bitstamp just made an alltime high.

DING DING DING DING $6-10 insta jump on stamp...

china closing in on all time high while getting high at 3 AM in the morning!

To be perfectly honest I'm fairly sure a simple trend/momentum strategy will work better here than any of this fibo/elliot shiz.

i prefer the greenlisted coins myself!   weeee

its really somthing handing somone 450$ for a bitcoin
i gave a few away to friends and family back in the 5-20$ days
they hand me the coin ( its one of my brass physical coin wallet ) and count the green in-front of them, its impressive!  

why is bitstamp almost $60 behind gox?

Sure thing boss  .

Sure, but the increase/day was so damn high last time. We didnt see this yet, so no reason to crash anyway. But if we see that increase again, it won't matter if you have 5 exchangers or 1. People will panic the fuck out of it, for human reasons, not for shitgox-lags.

The spread between Gox and Stamp is getting ridiculous. Even in % terms.

So here is a silly bear statement for all the bulls.

What happens when Bitcoin is accepted as a form of currency by the US Government and they begin to institute regulations, tracking etc.
1. Anonymity is gone.
2. The true unregulated, decentralized currency is now regulated an will become far from decentralized. If/when they realize they can't control it, tax it, etc. they will cut all funding sources just like they did with Gox.
3. All online gambling associated with BTC falls victim to current US online gaming rules. Meaning US citizens can and will be prosecuted for partaking in such activities. They will go after exchanges, and gaming sites for funding/accepting "payment" from US citizens.

Yeah shit just got real as far as price goes, but shit is going to get a lot more real once the US Government starts trying to regulate it. Anything with a market cap this high and projected to reach 400 BILLION is something they are gonna take real serious.

I'm a bear right now because;
1. The US Government fucks everything up.
2. New money = weak hands
3. There are some very large holders of BTCE and if they decide at any point to cash in and move on it would be catastrophic and at these prices a bubble would crush BTC.
4. (I'm sure this will be highlighted by all Bulls) as everyone I would like to buy some more coins cheaper!  

1. I sold at 300

You will probably be right, but it is about reducing risk.

Imagine you are poor and have 10,000 bitcoins.

Sell 1000 now and changed your life forever and wait with 9,000 to be mega rich,
or
Wait with 10,000 to be mega rich with a small chance of it all collapsing and you will stay poor, however small that chance is, its not worth taking because the reward for the risk is negligible.

You can then scale these numbers back, along with your current financial position and each person will find acceptable values.

Sorry this isn't really in the mood of the the thread at the moment.... BUY BUY BUY, to the Moon... thats better

I don't care what you whackos think, I'm selling half today.

I'm quite optimistic right now.

C will make B look like A does to B.

It's not fake, just overblown. Don't worry, we will crash eventually.

I quit i'm done never again goodbye

So...wtf happens when the exchanges run out of coins? Any chance that will happen?

So... How long until Satoshi is the richest man on hearth?



...not a bad time to sell a little tough

Me too, i knew i was euphoric, i knew the boards were euphoric, but greed took me over. Just like april.

Days like today, they thicken my skin. Just be glad you're making money. I'm down from the 900 high (who isn't, sheesh), but doing fine too.

I am never going all in anymore. Last night when the crash started I was like:

- ok don't worry, this is merely a correction
- 800...700...600...550...
- At this point i was pulling my hair out and getting ready to panic sell

Luckily I didnt and held until it rebounded to 800. But it seriously felt like an April scenario (even though I wasn't there). It's a feeling I never want to experience anymore. Losing all my profits plus some of my original savings feels like the worst thing in the world. I was ready to cry. But lesson learnt...Don't trade on emotions (and yes I've only been introduced to the stock/bitcoin exchange thing since I discovered bitcoin back in April)

SCIENCE BITCH!

April it only rebounded to half of 266. This time it rebounded to 800, so only 100 less than the high of 900.

I don't believe they are getting ddossed, sounds more like they cheapskated themselves out of good servers.

Accidentally even some bears have become millionaires!! This is madness, err.. Bitcoin!!

Blocking everyone out. They better have a good excuse...
They forced me into a bad trade I couldn't get out of anymore...

just helped regulators clear up a misunderstanding:


(click to discuss on reddit)

lol
He wants to buy BULK at $50 per coin

Is Bitstamp fully operational again?

This garbage has happened multiple times before. Incompetence that this hasn't been fixed in all these years.

Thank God Mark put some "security" in his trading engine!

Gox is such a manipulator's heaven! LOL

not to mention inside trading. When MtGox see btc pouring into the exchange what does Mark and his team? Dump their coins ofcourse LOL

Agreed, this is not April.

This is June 2011.

We have to break at least 380 on stamp that this would become crash, otherwise we will continue to follow this trend, sooner more than later.

That trendline is faster than exponential. It is actually the tallest of three new trendlines that we have seen this year.

July trendline: Somewhat fast but reasonable continuation of march, leading to a breakout. This could be considered a hard support and representative of the actual growth happening with bitcoin.

October trendline: Once we broke out from $150, this became the new trendline, which seemed insanely fast at the time. We knew we were leading into a bubble at this point. This trendline is perhaps representative of the growth occuring with China/Bitstamp/etc, though it is pretty fast. It MIGHT become our support after this collapse and for 2014.

November trendline: Once $266 broke, the price went ballistic and started following this new trendline. It looks completely vertical on a logarithmic chart and cannot be sustained. This is the trendline in the picture you posted. We are definitely going to break it at some point. The question is is that happening now or somewhere down the line. If it holds, it will only serve to prolong the bubble further to $1400 or so before an even larger and more devestating collapse.

This is all part of the process. Its part of the human condition. You can chart the exchanges and you can chart people's emotions right along with it.

We are going lower. For 12 hours. A day. A week. A handful of months. We don't know.  But we are going lower until enough people say "this is a great price." And then we will go higher. For a while. And then we will go lower for a while after that. And then eventually we will go higher and a new upward trend will develop. And then we will go back and forth for a while and then a new bubble will start.

This all assumes that bitcoin and its eco-system remain stable and healthy.

How long all this takes to unwind is anybody's guess. If we don't have a turn around in the next 24-36 hours, I think this process will take a few months to unwind (at least).

Why are people so eager to call a bottom?

As you say, it's only been 1.5 days.