WOW!  This is nuts.   It just shot up to 111, just like that. 

 

I'm thinking 60's a good round number...just saying.  

Maybe it's just because I'm a noob but this has been one of the most insane couple of hours of trading I've ever seen.     Nothing all weekend and then pure madness. I'm physically drained.

You're going to see a run up to 110 in just a few minutes. 

True and I'm still learning to read these charts.  Was putting positive into the universe.    

I still believe in my $110.    

Ah ha!  "Group by price"...now I see!   

Hmmm.....$110.  Told ya so!  

   Certainly took longer than a few minutes though.

I was betting on it's oversold position.  I just didn't think it could stay down. It had to correct.

Best post of the hour!   

Maybe it's just me or maybe I'm missing something but...does it seem "odd" to anyone else, to knock someone for speculating, inside of the speculation forum?   

We'll peak around $114.

Ahh thats cute.  She's trying to impress you with her investment skills.  She obviously looks up to you.  

I'm sticking with $114.  I think we'll push through $110 eventually and peak in that range.

Its me...I have 1 super Bitcoin.  

I think that's 2 for 2 on the day.  $114.   

Was in at 90,  got out at 114.  Feeling bearish...let's do this.   

Good luck my friend.  Truly...no sarcasm. 

Absolutely...of course that's until you remember this is Bitcoin and Bitcoin does whatever the hell it wants. 

Ok?  What the hell?  We go from Armageddon to watching grass grow.  Sheesh! 

Let me get this straight.  2 days of low volume, at between 109-114, equals Bitcoin is stable??

I don't see stability in the market, I see fear.  This is going to get real ugly soon.  It could go up or down obviously but all indicators I see support a huge drop.  As those who are hoping for stability become more complacent, the shock of a big drop will only magnify their panic selling.  The longer this entrenched position lasts, the more severe the drop will be.  

Agreed!  The fall is coming regardless.  Just my speculations of course but some people are about to lose a fortune.  Only time will tell.  I'm good either way.

The build up from China?  Timing seems right.  I thought the price was going down but this could be a HUGE rally!!!  Congrats bulls!  

This didn't work out to well for online poker.  If major government intervention happens as you describe...SELL, SELL, SELL. 

From a trading perspective yes, but average people aren't looking to trade.  Your average person will take an even exchange rate for convenience and low transaction fees, on everyday purchases.

This is probably a very accurate statement. 

I'm happy for you bulls who guessed right coming out of this "consolidation", if that's what it was.  But let's be real, we're talking a less than 10 point jump here.  Not exactly earth shattering and certainly not enough at this point to blindly believe it wont fall right back down.  I don't see anything fundamentally different other than the bots coming back online.

Don't give up hope.  This is starting to just look like a little pent up demand to me and possibly nothing more.  This stall in the 120ish range is worth noting. Of course as soon as I say that, it will shoot to 160.  

I know man, I was there.  I felt like a part of me had died.     My thoughts are they can absolutely cripple Bitcoins growth via the banks.  Not to mention pushing away all hope of legitamate US business getting on board which will just stagnant Bitcoin altogether.  It would continue in the black markets and underground poker sites, etc. sure....but they can do major damage.  But hey that's negative talk...its' too early for that.   Let's celebrate the rise and hope for the best.  

EDIT:  I stand by my sell order should something major come along.

Money flow index has it in an over bought position.  My guess is it's coming back down.  

I hear ya.  And if Bitcoin is consistent at one thing, it's rendering all chart data useless.   

^^^This is why.  These things are inevitable and hence the allure and risk of Bitcoin trading.

5 point jump and they swear its a bull market.   

That discounts everyone who bought in at $200-$260 and are sitting on huge losses right now.  I'd assume most are looking to bail out of this market as soon as possible but have no choice but to pray for some sort of increase to at least minimize the damage.  If we should see a spike back to $160-$180, I'd expect a flood of selling at the peak as people cut their losses and run for the hills.  Don't think I need to specify what happens to the markets next...

I'm in the same exact boat.  I have some Bitcoins now at ~90 and I thought that was high.  I've got fiat on standby but I absolutely refuse to buy at these prices.  And if it continues to rise, then Bitcoin is not for me (as far as trading goes) and I'll simply move to another crypto.  I would guess this is a good portion of the sentiment of those on the sidelines.  It's just getting to a price point where average traders are getting priced out.

I've seen all the $500, $1000 and even $300k coin statements.  I truly hope that happens for people but if that's the case, who are these people paying $500-$300k per coin?  Because I know who it's not going to be.   

This is a statement made on emotion and not facts.  I agree with this:


I'm not saying it's impossible.  Like I said I own bitcoins, far fewer than most I'm sure but still...a $100k+ coins would be more lovely than what KillaMarci just posted.  (Which is awesome BTW)  

Now if you'll excuse me, I have to go and warn granny.  You know how many socks she could knit for $300k.   

Seems something like Ripple could really help Bitcoin.  It's easy to get into and you can trade XRPs for Bitcoins.  Lot's of kinks to work out in crypto...despite some pessimism...crypto is here to stay and I love the thoughts of the future.

Wouldn't the markets have to make this transition in trading.  Kind of like a stock split to switch over to mBits or how would this work?  Oh and congrats on your continued success.

I didn't say this was the biggest risk to the market, I said your comments don't take this into account.  No, it is not sound financial planning but I'd say those who bought in at $260, were not making a wise financial decision to begin with.  Unless of course they are planning to go long, which at this point in time, no one knows if it will be the greatest decision of all time or a flop.  But let's not pretend there isn't plenty of money that saw the huge rise and jumped in on pure greed, hoping to not miss the train and will look to cut their losses if they can.  That was my only point.

Don't get me wrong, the potential is definatly there.  We all get that.  But ALOT has to go right and almost nothing can go majorly wrong for this to be true.  These are of course my opinions and I'll be PROUD to eat crow if $100k coins becomes a reality.

   

It's funny, I worked pretty hard convincing the wife and as I've started to pull back a bit, the same conversations are happening.  I literally laughed out loud when I read your post.  Now the pressure is coming from her instead of the other way around.

I hope you're right because I see everyone here as early adopters and then there are the prehistoric adopters.     I don't want ANYONE to lose.  This whole convo is simply a glimpse of the sentiment of some not buying or waiting for lower prices.

Yeah well I have my doubts about the legitimate effect of bitcointalk forum posts on the markets.  But if that's how people are making their buying and selling decisions, I guess more power to em.  We're just off topic because we're bored.     I'm going to the beach...must..get...away!

Reading many of these comments just reminds me of the blind, ideological and delusional thinking of the Napster cults.  Faith is necessary I get that but some of this stuff is just craziness.  The more I read these forums, the shorter Bitcoins lifespan becomes to me.  I''m currently at 2 years tops.  That's not because Bitcoin is not awesome, it's simply that too many people behind it are irrational and lack common sense and logic.  

I plan to make as much as I can off of it while I can, but my sights are already set on the "iTunes" of crypto.

Not sure, but my eyes are open.  

You missed my point...Bitcoin is a GREAT idea and can absolutely work.  Unfortunately it's dominated by ideological nuts who ignore all logic and thus will do nothing to deal with the problems of the currency and will almost always flame anyone who even attempts to speak against the almighty Bitcoin.  It's just as easy for someone to pickup the idea and do it better.  Hence the Napster, iTunes reference.  Like I said crypto is awesome.  That can be Bitcoin or not.  Don't care as long as it's right and ready for the long run.  

I'm one of the new users you'd think you'd want on board but after ~ 2 months, I've gone from "what is this Bitcoin?", to "This is awesome honey, we've got to get involved!", to "I'm not even sure if Bitcoin will be alive in 2 years."  That has nothing to do with Bitcoin, it has to due with many of the "cult" like followers who poison the brand.

+1

"...But we hate banking and governmental corruption, that's why we love Bitcoin."  

Free fall...

Somebody better call Al-Assad and see if he wants to invest.  

This is a pretty good point.  The money flow index has been the only thing I've seen (not saying there aren't others) that has been pretty consistent in predicting a rise or fall.  Everything outside of 2 days says the same thing...we're oversold.  If I remove bias for cheap coins, and just predict as I did recently on the 110 and 114 peaks, I'd have to say this thing should correct around 120-125.  After that we'd be moving seriously back into an over bought position.

Still, I just don't see how we aren't going to retest our lows.  Anything is possible of course but it just doesn't seem logical to me.  Then again, this is Bitcoin.   

Well I'm definitely not taking anything out.  When I put it in I said it's basically gone so either Bitcoin collapses and I go broke or I do very well.  But you're right about the charts.  This low volume, no movement is just puzzling.  Can't figure what to make of it.  Up or down...who knows?

I'm sure they said something similar to people about the Titanic.  

ahhh...it's the libertarian morning show in the Wall Observer.  I'm gonna need more coffee...and tin foil.  

Bitcoin is up because people saw the media attention and saw a way to get rich quick.  Nothing more, nothing less.

I didn't say anything about people walking away.  Although if markets tank it's almost certain you will see people move out of risky investments and into safer things like gold.

My point, while apparently not clearly spelled out, was that the recent rise in bitcoin is simply from all the media attention.  Yes, die hard bit coiners view Bitcoin as a store of wealth but the rest of real world market investors do not.  They view it as a purely speculative and very high risk investment.  Nothing more.  Simply put, people are not going to run in masses to stash money in Bitcoin because people do not trust Bitcoin.  That time may certainly come, but that time is not today.

Always open for discussion.  Hell, anything is better than watching paint dry on these recent Bitcoin markets.  

Exactly, Bitcoin is just starting.  You are confusing diehard bitcoiners views about Bitcoin, with the views of the rest of the investing world.  The rest of the world does not yet view Bitcoin the way you've described.  That's my only point as descibed above.  They view it as highly speculative and very high risk.  Traditionally, with market collapses or huge downswings, people pull money out of high risk investments and into things they perceive to be safe.  Again gold is a traditional avenue.  Bitcoin is not...at least not yet.

It very well could.  Exposure brings people into learning about Bitcoin.  As they learn more, they can either begin to embrace some of the principles or reject them.  Either way, they move from simply looking for a huge ROI by taking a risk in something speculative and into a deeper connection to what Bitcoin really is.  When this happens, it will be possible for Bitcoin to be viewed as a safe, store of value possibly even regarded safer than gold.  It's all possible but there is still a loooong ways to go.

So as not to get lost of the original point, I don't believe current world market conditions have much affect on Bitcoin at this time and thus is not a good indicator on whether Bitcoin prices rise or fall.

I'm definitely excited about the possibilities and from what I've been seeing, it seems VC's are dumping a lot of money into Bitcoin ventures and I'm sure that trend will continue.  There is lots for people to soak in and it will take time to really become that trusted house hold name.

This is the point where the fear of stashing a decentralized currency in a centralized entity like Gox, make me worry.   

Yes, extreme load from all that volume.   

I believe this very thing.  This will be one of those deciding moments for Bitcoin.  Will they exit the market entirely or will they buy in at higher prices?  This will tell a lot about investors long term commitment to Bitcoin.

We're in a severely overbought position.  Odds say, it's coming back down.  The longer it stays here, the harder that fall could be.

For August maybe.   

Someone with a brain.  Becoming rarer these days.   

What's that?  Sorry I couldn't hear you from all the sell...BING, BING, BINGS, coming through my speakers.  Guess even the cat couldn't make your emotional rant, hold water huh?  Next time, less talking and more listening and learning.  Or at minimum...try not to be such a dick.  BTC addy below to pay for this lesson.  

Great news for Bitcoin because Ripple is good for Bitcoin. 

WEEEEEEEeeeeeeeeeeeEEEEEeeeeeeeeee!!!!!!!!!!  

These are just limit orders propping up the fall.  People who don't know this is happening and couldn't pull there orders in time.  When they get home from work, they might need suicide watch.  

Add to that a couple of big wigs risking their chips to try to stop it.  Good luck.

Classic post!   

Funny to see how quickly that tough guy, libertarian talk goes out the window once the feds actually show up.  Thank God Ripple is on the way to save Bitcoin from ruin.  And just in time too.  Somehow I told ya so, just doesn't quite say it.

I'm certainly not and Ripple won't be centralized so...

This is a STATEMENT from the US Government to Bitcoin.  My advice being a US citizen and knowing the reach of the USG...Sell NOW or forever hold your piece.  This is going to get worse as the news reaches mainstream media.  By then, it will be too late.  I'm taking my profit and I'll watch from the sidelines. I'll buy back when the dust settles.  Good luck to all.

You think it's a movement, I think it's a virtual currency and I've been tell ya'll this was going to happen but you're blinded by ideology and somehow through, I don't know....magic thought that Bitcoin was immunize to governmental intervention.  You don't just stickup your middle finger to the US government and think they'll just say, "Yeah, that's fine.  Please continue to avoid taxes and send money to anonymous recipients."

The biggest piece most of you fail to see and even I didn't see this coming, was they used Homeland security, NOT, the Justice Dept.  Homeland security has all kinds of freedoms to do whatever they want in the name of "fighting terror."  This is really bad...but Bitcoin can survive this if the Bitcoin community is ready to start talking realistically about its future inclusion into everyday society.  This libertarian crap...well...welcome to its reality.  You reap what you sow.  

    You're too much bro!

You'll see sub 100 in the next couple hours or so.  Maybe less.  Especially as people who don't sit and watch this forum or the markets get home and realize they are losing big $$$ and are caught in a firestorm.  I feel bad for those who aren't aware yet and have limit orders setup.    

Yes I do, speculating of course...I think you're only going to see this panic sell gain momentum.  Those walls are going to come right down.  There's really no way to know where the bottom is and when the CNN's and others start running the story, there's just no way to know where this thing will stop.  I still believe the core of Bitcoin is around the $50 or $60 mark, if it's any consolation.  Retesting the lows was expected and if they breakthrough that...it's a whole new ballgame.  All bets are off.

Bitcoin has survived crashes before...Bitcoin can survive this too.

110 wall gobbled up like cake at a fat camp.  

105 wall is nothing.  Momentum is too strong.  Double digits...here we come.  Buckle up!

This is the truth...amazing how many people keep ignoring the facts.  110 and 105 walls came down like wet tissue.

^^^This.  Using Homeland Secuity, also means the U.S. could theoretically have a drone hovering over MtGox by morning.   .

Definitely not over.  It's just beginning.  Interesting to see how many coins the manipulators, who are trying to prop things up, are willing to lose.  

It's made it to Mashable...true mainstream media will be next.

http://mashable.com/2013/05/14/dwolla-homeland-security/?utm_medium=feed&utm_source=rss

That won't stop the US from imposing economic sanctions against that country.  

It's a pretty fair question.  10k coins between 101 and 100.  If it was like the 110 and 105 earlier, I'm guessing they'll move out of the way once the train starts coming through.  We're going double digits...get your snacks and beverages ready.  It's gonna be a long night.

I saved myself from getting killed.  Penny saved is a penny earned, right?  

...and welcome to the New York Post.  


http://www.nypost.com/p/news/business/crackdown_on_bitcoin_exchange_jdjp9NaLCdypnhcu6JBQLN

Ripple/Google news on same day??  I'm not one for tin foil but hey, it's not outside of the realm of possibility.  I just feel like this is a warning shot, designed to show who's boss and to force compliance.  In a matter of hours, it seems to be working and the party is just getting started.

Woke up from a nap and I'm like...huh??    Shouldn't we be sub 100 right now??  Is someone just pumping this up to dump it in a few?? 

/scratches head

I guess we'll see.  I certainly can't go back to sleep now, that's for sure.   

Except in the Bitcoin version, when you jump off the cliff, you float higher.   

These micro buys are killing me. 

What?  Me waking up and saying the same thing you did which is, "huh?", is some how a negative?    This night just gets weirder and weirder.  

Oh for sure.  If they go after Gox directly...that's 80% of the market, frozen.  These prices may make no sense to me at the moment but there is no way, I'd be keeping anything at Gox right now.  You're just asking to lose it all.  And nothing says they have to give it back either.  

On a side note:  This stuff is really fascinating.  What a unique time in history.  

Buying BTC to transfer out makes sense but holding a devaluing currency is just silly when one can convert to fiat somewhere else and rebuy low.  Unless you're going long. I'm looking for cheap coins and the dollar is certainly more stable than BTC.  

No, a warrant from homeland security and a possible shutdown of the largest exchange (80%), is devaluing the currency. Don't blame me for being a bear and I still think we're going to double digits and probably retesting our 50-60 lows.  I hope DHS rains fire in the morning.  Cheap coins for all!  Hopefully me saying it does fulfill it.  Happy now?

Ahh...yes.  They were in hiding just hours ago and now here they come on the hopes the storm has passed.  Come on out of your bunkers...all is fine.  Please...buy, buy, buy.   

Yes because we should all blindly believe that Bitcoin is immune to crashing. You can't "route" around anything without centralized exchanges. Are you serious with this stuff?  Were you even paying attention yesterday?  It's only worth what people say it's worth.  The moment it becomes impossible to get any money out of the system (back into fiat) that's the moment it becomes near worthless.  But that's the gamble right?  Everyone can't be bulls.

There is if you don't like losing money as BTC prices fall and you want to buy low. Fiat is fine inside of Dwolla, for the moment.  There is nothing illegal about Dwolla.  They are in compliance of US regulations.  (Or so it seems)  But this series of recent comments is really two different conversations.  One of those who want to stash BTC in wallets and go long.  Totally fine and those who want to make money buying in low.  Also fine.  Apples and oranges really.

Additionally, they don't have to "seize" BTC's.  All they have to do is block the flow of fiat in and out, and BTC's becomes worthless.  How some people are waking up trying to hold on to these delusions is simply amazing.  I call it denial.  Bitcoin is only as strong as the fiat it can be converted into.  

This assumes you have mass adoption, which Bitcoin does not.  It has a black market for buying goods which hardly gives it tremendous value.  There is a reason businesses, especially US businesses are not excepting Bitcoin.  They know by the laws on the books already, that Bitcoin is illegal.  No mass adoption, no value.  So the only value you have, is what you can drum up in the black market.

The only reason the prices have reached +100...is because of speculative greed.  Nothing more, nothing less.

As the US goes, so goes the rest of the world.  Sorry.  And no, Dwolla is not illegal, where as Bitcoin is in violation of the laws of nearly every country.  Now I agree, this will make Bitcoin stronger which is why I want cheap coins.  If I thought this was going to kill Bitcoin, I'd just walk away.  No, this and the steps to come will bring Bitcoin into compliance of regulations and taxes.  Then business will be free to accept it and mass adoption will take off like a wildfire, shooting BTC prices into the stratosphere.  

EDIT:  "You forget there's a lot of people who is not into BTC to get fiat profits." I didn't forget, I believe that base of users tops out around the $50-$60 mark.  And they are in it for fiat, they just don't need it today.  Those who have this dream of a world of BTC only and fiat will be dead...are even fewer than that.  Probably the $10 mark and below.

Nice!  Yes you are right.  Why am I aiming so low.  Shame on me.   

Im not a law expert so grant me that.  But in most developed countries, sending anonymous payments to anonymous users, tax free, and/or using an alternate currency within those borders is absolutely a violation of law.  It is in the US for sure.

When you trade one good for another, by law you owe taxes on that transaction.  Even if I were to trade say $100 TV for a $100 car stereo on Craigslist, by law, I'm supposed to pay taxes on that transaction.  That's called tax evasion here in the US, if you don't pay.  That's a crime, thus against the law.

I think we have all this grey area because of the advent of the internet which is why it is no coincidence the online tax bill is making it swiftly through congress.  They are setting up their chess pieces.

Put that way, that's a good point however that means you have to define BTC as an actual currency and using an alternate currency is against the law in the US.

This may very well have been overstated.  Just my understanding but certainly not fact as it relates to the countries listed.  Point taken.   

If you're not paying taxes on those transactions, it's illegal.  That's cut and dry.  By US policy anyway.  I will confine my statements to the US for now.  Again, I think there is too much grey area and that's exactly why they are moving on this online tax bill.  Which only hits major retailers now but is just the platform to go after everyone else.

Coinage Act of 1965, Section 102 states: “All coins and currencies of the United States (including Federal Reserve notes and circulating notes of Federal Reserve banks and national banking associations), regardless of when coined or issued, shall be legal tender for all debts, public and private, public charges, taxes, duties, and dues.” Only United States currencies (including Federal Reserve Notes) are currently legal tender in the US.

Keyword being LEGAL tender.  Thanks for that BTW.

Um...they'll give me some food and hand me back the change.      What am I missing?

I agree and that's where that grey area comes in.  But even flight miles are not the same as Bitcoin.  You can't exchange them for cash (to my knowledge) and are only available on products and services the airlines have paid for at discounted rates, to offer as incentives.  They pass these extra cost to their customers so really, it's just a brilliant marketing strategy and not an actual currency.  Bitcoin is a currency.  No question about it.

From my limited understanding as well (so nothing dumb about it, my friend) a business can not accept a foriegn currency.  It can only deal in US legal tender.  It's not illegal to possess them, but to spend them in the US, on US goods and services is a clear violation of US policy.

So by that thinking, and as one stated earlier, owning Bitcoins is not illegal.  Using them is or at least technically.

You know, upon rereading that, that could be a really good legal loophole as long as transactions remained private.  That still would prevent legal mass adoption by businesses I would think, as every legal business needs a business license issued by the government but that is an argument that could be made.  Nice.  

See these are all the questions no one really has answers to.  There is all this grey area because of the internet.  But if the government is not getting it's cut, they are not going to let that ride.  Crypto certainly has it's challenges ahead.  This online tax bill in congress is alot bigger than I think some people understand.  The USG is looking to remove that grey area.  I'm not saying any of this is right or fair...I'm just saying it is what it is.

Yeah it's early.  I'm going to be dead today.  Just looking at the asks vs bids would tell me this thing is headed back down but, what do I know?  I learned about Bitcoin some 6 weeks or so ago and it seems it does whatever it wants.

The transaction itself is not illegal.  I concede that point.  But not paying the taxes on the transaction is illegal.  

   Well that shouldn't be hard.

Yes actually I have conceded that point.  From the info provided I don't see the transactions being illegal but if the business were to not pay taxes on said transactions, that would be the violation.  I think that's a fair understanding up to this point. 

I'm not talking personal ideology, I'm talking grey area from a legal standpoint.  The USG is coming for their taxes.  You can bet with 100% certainty this will be the case.  But the USG will want to have solid legal footing to do so.  Because of the internet, it's requiring updated rules, regulations and policies to deal with it.  This is all new for everyone.

My apologies.  This forum has obviously made me hypersensitive.  

Same story running.  No new info released.  It's still only 8am here, 5am on the west coast.  

Awww....does it bother you that I don't blindly follow internet rhetoric.  At least I have the intelligence to be open to facts as they are presented, where most on this site are so ideologically dug in, that the only "facts" they see are the ones they have created in their own minds.

Starting with the continuing delusion that Bitcoin is immune to governmental intervention. 

And here comes the name calling.  Ah...yes.  The height of supreme intelligence.    Not sure how wanting the price to drop makes me a bad person and certainly warrants being called names.  I guess you'd prefer there was a Bull section and a Bear section so you wouldn't have to read any posts contrary to your beliefs and opinions?  Segregationist?  

Yeah, like a drop to $20.   

You know, it's funny you say that.  I made that comment to my wife that some of these people are so hateful, nasty and have views that are so anti-humanity, that I'd rather hang out with religious nuts and listen to them judge me with their twisted versions of the bible.  And that's bad.  Sadly in the US, many of these folks are one and the same.  The upside is many of them spend their money building bunkers to hide from society so that works out for the best.  Out of sight, out of mind.  

In the end I feel sorrow that such anti-social personalities need exist.  I think many just need a hug.  

Not a one of us is perfect...we all fall short, especially me.  But there is no excuse for treating people outside of how you want to be treated, so please don't try to justify it.  It's only money.

Then it was absolutely all worth it my friend.   Cheers!

Actually it became a legal discussion that only one point was proven false.  That Bitcoin itself was illegal.  That based on the info provided, was false.  Totally fine.  I conceded that.  The rest of the pages were about the other legal ramifications of Bitcoin transactions so your generalization that pages and pages was dedicated to one point, is not entirely accurate.  And Bitcoin transactions that avoid paying applicable taxes are in fact illegal.  Now, unless you have something to refute that claim, your rant is only partially relevant.

But you are right in the fact that we have been off topic for way too long so, let me go wake up DHS and get their butts in gear.  They have a Bitcoin price to crash for me.  

I've never denied the fact I want the market to fall.  And if you read my posts, I said in my "speculation" as a US citizen, this is going to be bad.  And it's going to be.  I guarantee it.  Now, you may not like to hear that.  That may frighten your bullish position but I have the right to my "speculations".  If you think its no big deal that the USG chose Homeland Security over the Dept. of Justice, then you really have no clue how things work in the US. 

So let me say this one last time for the cheap seats:  In my speculation, the value of Bitcoin is coming WAAAAAAYYYY down.  This is just the beginning.  You don't have to agree or like my view but don't call me disingenuous when I have been clear about my bearish stance. 

Additionally, this is a FREE MARKET.  Would you like to impose regulations on my opinions now because they might cause someone to sell?  Free markets are only free to those who want them to go their way?  Seems quite hypocritical.  The only thing disingenuous is your skewing of reality.  But that's your right.  I don't care what you think about me.  You don't know me.  I'm just some guy on a forum.  But the fact that I scare the hell out of you, means I must be doing something right.

Now let it go.  None of you scare me and I won't "tread lightly" because I'm not intimidated by peoples opinions.  Maybe you should search your own heart instead of trying to search mine.  And BTW-it's "suit" not "suite".  Can we get back on topic now or do you have last word syndrome too?

I can frame my speculations anyway I please.  And you're free to take them any way want, just like you're free to hit the ignore button.  Which I recently found it pretty awesome...BTW

I also can guarantee anything I want.  I'll double down on it. I GUARANTEE THIS PRICE IS GOING TO DOUBLE DIGITS!  The USG is coming for their money and control and since they've brought in DHS, they can stop money flow in nearly any country they choose, just like any other terrorist organization.  Bitcoin just became Osama Bin Laden...doubt it, laugh at it, believe it, I don't care.  That's what I believe and that's all that matters.

TL;DR



Lets try this again:

 

Now that's funny!  I needed that.  Thanks~

It's a good time for a break.  I'll leave you fine folks to it for a little while.  Cheers.

Just ...the...beginning.  

http://www.washingtonpost.com/blogs/wonkblog/wp/2013/05/15/the-coming-political-battle-over-bitcoin/

And the hits just keep on coming.  


And this is the real killer:


See ya at the bottom! 

http://arstechnica.com/tech-policy/2013/05/feds-reveal-the-search-warrant-that-seized-mt-gox-account/
 

We do have a solution, it's called Ripple.  Ripple will legitimize the BTC but not before we see double digits again.

Bingo! 

SMH. "Can Bitcoin Be Saved?"

http://nymag.com/daily/intelligencer/2013/05/can-bitcoin-be-saved.html?mid=google

The Bitcoin community is losing the image battle.  Somehow, not surprising.  

Additionally, I'm starting to have serious doubts that this is a random DDoS attack on Gox.  Hopefully it will come back up but I sure hope you didn't leave your money over there.  You might just be financing some new drones and new teams of regulators, for the USG.  

   Now there's some truth.

You overestimate the negative sentiment the masses have on financial institutions and governments.  Yes, everybody complains but most are content with what they have.  It's certainly not so drastic that people will go through the incredibly difficult processes of setting up wallets, getting money into the system, buying BTC and then finding a way to spend them, which we know are far and few between. 

Not to mention, Bitcoin is becoming a bad word associated with all things criminal much faster than it's becoming some "beacon of light" as it relates to currency.  It's highly volatile, it's clunky, difficult and confusing and it's absolutely vulnerable to far too many variables. Image is everything and Bitcoin is losing that battle.  It's attractive to diehards and high risk investors sure, but most of them have no clue what mainstream wants because they are completely out of the loop. 

Bitcoin is like Napster.  It has shown us the way but an "iTunes" is coming to do it right.  My guess is that's Ripple.  They have the advantage of being able to take the high road and separate themselves from the black market, money laundering stigmata that Bitcoin has developed, while still accepting Bitcoin as a currency.  This is good for Bitcoin and it's last gasp at mass adoption.  If the masses are more concerned with low transaction fees and ease of use, than they are having actual stores of wealth, the XRP will reign because an IOU will be sufficient. 

You're absolutely right.  That's why I said "my guess" because they have to prove it, but if they can deliver what they are "selling" it's going to change everything.  Again, that's my guess.  I don't see anything remotely close to offering what Ripple is claiming to be able to deliver.  And until the server source code is available, we wont know.


I wouldn't use the term "wealth of developers and investments" but there is an increase of VC money.  That honestly means little to me as VC's by nature expect to fail at most of their investments.  I see them as throwing relatively small sums of money into the ring, just in case something takes off.  Even Google Venture only put up a couple hundred grand into Ripple.  That's pocket change.

The BTC developers could never keep up with Ripple development because BTC developers work on what they want, not what the people want.  Ripple is accountable to it's investors and thus must deliver updates and upgrades in a timely fashion.


I don't think the argument that people buy drugs with BTC is a winning argument for exactly what you just said.  But on the grand scale when people think the dollar, they don't think negative thoughts.  They think, "gotta get more".  BTC does not have that advantage.  When the masses think Bitcoin, they think negative because that's all they really hear.   Now you're right, image can absolutely change and I'm all for it.  But who's gonna change it?  The Bitcoin community, which is really just this forum in one way or another?  I'd say if that's the best BTC has, there's no chance.

Tidy is a great word to describe that.  Wow! 

Thank you.  Cheers!  

Yup, the United States is getting ready to be isolated completely, just like what happened with poker.  You don't have to kill the sites, you just have to block the flow of money.  The people at Satoshi Dice were wise to take the advice of "legal counsel" and not the advice of the internets ideological "elite".  Seems the love of money does trump hardcore principles after all.  Hmmm....imagine that.

SMH.  This is identical to the poker shutdown except these businesses are being proactive and blocking before the USG arrives.  They know the USG is dead serious.  Where some see the MtGox thing as "no big deal", rational people recognize it for what it is.  A telegraphed warning.  Comply or die.  Just saying.

Bitcoin is not poker.  Poker does not require mass adoption.  Bitcoin is a currency commodity and thus requires mass adoption to be successful and actually become a real currency.  This is going to be the easiest takedown in the history of the USG.  Once Bitcoin is carved in the minds of Americans as illegal, risky, funding of terrorism, etc...the brand is dead.  The same business' that may currently be considering adoption will flee forever.  And don't let a real terror organization get linked to Bitcoin.  It will be unpatriotic to support Bitcoin, in the minds of Americans.

Sorry, CD?

I know what they want, what's best for people is subjective.

No, even better.  A Zip disk!   

The truth about VC's is most of them are morons.  They throw other peoples money around and just hope something sticks.  So, I wouldn't put a lot of stock into the pocket change that's come in so far.  If they really thought it was "HUGE", you'd see $100 million to $1 Billion plus coming in.  We're no where near those numbers as VC's are accountable to their investors so it actually speaks to their reluctance more than their bullishness.  

Maybe this is just the arrogant American in me but, without America, Bitcoin is little more than frequent flyer miles.  We set the trends, we say what's hot and what's not.  Russia?  When's the last time anything "cool" ever came out of Russia besides snow?    

We don't need Bitcoin, Bitcoin needs us and with Ripple, it's going to all be possible.

And thats all it takes.  Perception is reality.

This assumes technology moves like molasses, which is in fact...not reality.  Crypto currency is now on the map and Bitcoin can easily get left behind by another crypto currency.  So, your devotion to the name "Bitcoin" is I guess, similar to my devotion to my country.  Although, my country will be here long after Bitcoin is dead, as will the US dollar remain the most popular currency on the planet.  Hey, maybe the USG will create the crypto form of the US dollar just to ward off the little wannabes. 

Google hardly makes "America".  Thats as silly as saying there's no America without Apple.   /facepalm



Or you'll what, throw snowballs at me?  Lighten up.

There ya go...that's better.  I like smilies.   

These are really good points and I don't necessarily disagree.  I'm not writing Bitcoin's obituary yet, but times are changing faster than Bitcoin developers can keep up, it would seem.  I mean, the diehards who have been mining since the beginning should be sitting on 100's of millions of dollars at todays prices.  It's really hard to make the legitimate argument that it's still "not big enough", to make the changes and updates the mainstream demands, when you're sitting on that kind of cash.  How much "bigger" does it need to get?  

What I think is the diehards are lazy.  They made their money and they're content just ridding this thing our as is.  That's fine but it will soon be old news if this thinking and lack of action continues.  My opinions of course.  

BTW-I remember pre-internet.  Life before pagers.  I remember the first fax machine commercial that ever came on TV talking about how you could send a piece of paper from one place to another.  WOW!  And...I still remember connecting my Atari to the back of a console tv, using a screw driver.   

I think the top uncool things would probably go to the middle east.  I personally think drones are awesome but hey, that's just me.  



Don't feed the trolls.   

Again, these are really good and fair points.  I was speaking more to the incentive side, for getting things done and that doesn't require cashing out. Seeing an investment that initially was worth pennies, and seeing it now should be incentive enough.  But this is why I'm hopeful of Ripple.  They make up for many of Bitcoins issues, in one fail swoop.  It does not make Bitcoin development irrelevant, actually its the opposite.  But with decentralization comes the downside of things being unorganized.  It's hard to get things done when everyone is disorganized.  I'm sure you can agree with that.

Simple is what the masses want.  That's why Paypal is successful.  Couple that with rediculously low transaction fees and the ability to come in and out of the financial sectors of the world through gateways, and you've got the future of world currency.  Bitcoin is just one piece of that.  It must learn to coexist with the rest of world currencies.

Really?  I think the world will run out of oil long before that.  When that happens, the world goes dark so, not sure I believe you.

Yes, one is an actual part of the human body and the other is a completely subjective statement.

Well, fair is fair.  CNN.com did not throw Bitcoin under the bus.  Seems even aside from the attention grabbing headline, the piece is rather positive. 

http://money.cnn.com/2013/05/16/technology/bitcoin-mt-gox/index.html?iid=HP_LN

There's a correction coming.  Doubt we'll break through 120.

We'll see shortly won't we.    

Run Forest, run!   

Not really a "rally" then is it? 

This is Bitcoin, there are no facts.  Only speculations.

I've got BTC stored to go long plus fiat to buy in case of some crazy drop. Overnight I speculate we'll correct back to the 114-115 range and settle down.  I have no idea about the coming days.  As someone else said sentiment seems positive, so without any big negative news, I see no reason for a huge drop.  If things hold, there actually could be a genuine rally in the coming days.  This sure isn't it though. 

Yup, so was the Titanic...of course...until it wasn't.   

   Eventually, yes.  But not today. 

Bot Fight!!

Ah the delusions.    Much easier time dropping to 116 than there is of breaking through 120.  Or maybe....we're still in "rally warm-up".  LOL!

No, actually I stopped taking most of you seriously.  I had to step down to the elementary level many of you enjoy playing on, and just start having fun with it.  And so far, I am having loads of fun.  

BTW-We did not break or break through 120 last night just as I predicted.  We held higher than I expected but a win is a win.  I have all the confidence in my abilities as I'm batting a pretty good average around here.  So with that, I return you to your regularly scheduled delusions.  
 

...And down goes Frazier!  

Regulation is the best thing that can happen to Bitcoin.  It will instantly legitimize it and mass adoption would spread like a wildfire.  Let's hope that dosen't happen before we touch double digits again or else I'm going to have to eat crow on my "guarantee".   

We're still in a fairly overbought position, which we've been in all day, since breaking through 120.  I would guess there's easily room to get into 125 but breaking though I'm not so sure.  Even if we managed, unless the wall at 126 is a fake, I just don't see how there's enough steam to push through.  I'd look at the price maxing in the 125 range and easing it's way back down a bit, much like what it's done all day.

This entire line of conversation is a stark reminder that it does not matter what currency dominates the world.  At the end of the day, rich people still will look down on poor people so nothing will ever change in that capacity.  Rich people will be dorkier than they are today, but just as hateful and oppressive as rich people have ever been.

Really sad and depressing way to start the morning.  

There's truth to that but a bank is amoral.  It's just a building.  It's the people that make it "evil".  We're just trading one group of greed, oppressive bastards for another.  Heck, a few pages back or so there was talk of starting their own bank in some other country.  See, Bitcoin is not about hating the banks, its about not being in control.  They want to take control from the current rich and powerful, so they can be the ones in control and be the same greedy bastards we have now.  

You know what...I'm going to the beach to hang out with the lowly poor people.  As I refer to me, them, most of us...the mainstream.  Not about to wreck my day over a stupid thread.  

Thanks for the +1 brother.

On topic, I nailed the speculation last night and looks like more of the same today, especially with the low volume.  Does anybody see anything other than this same flat trend, that could very well last through the weekend?  Up, down, sideways?

These are the best charts I've seen in a long time.  Literally LOL'd.    It's awesome to see some levity. The weekend crew rocks!

 

Hey Chartbuddy.  Don't let em get you down.  They try to block everything and everyone they do not understand.  It's just human nature.  I know you are immune to human nature and that's why I love you.  Just look at me, my ignore is glowing like a Las Vegas strip club sign and I'm still here.  Stand strong...I got your back.   

Something is not right here.   Love the action but...

I didn't say it was manipulation, I said something isn't right.  We also no longer have a 5-8 point spread with Bitstamp, just like that.  It's down to 3 and holding, where it typically is.  That's very odd...tin foil or not.

Ok, maybe it was nothing.  Things have tightened a bit between Gox and Stamp but back to a $5 spread.

Nothing better than waking up on a Monday morning to cheap coins.  

/America cheers on the sellers!  Rah, rah.  

I've made a couple of successful trades via: Sell BTC on Ripple -> Fiat to BitStamp -> Buy BTC at Bitstamp.  Rinse and repeat.  Fiat transfer was super quick too.

BUT..there is almost no liquidity in Ripple, so selling at near MtGox prices is difficult and took most of the day just to pull off 2 trades that were worth the effort.  The good news is I really only paid a fee at Bitstamp so the potential is there and I could sell a bit lower but, just not enough trades happening from Ripple to really take advantage yet.

You just caught me before noon, but the day is still young.

Sense of humor is invaluable.  That's a really funny pic.  

Don't let it spook you.  Ideology is irrelevant to Bitcoin.  The more widespread Bitcoin becomes, the more of a minority the ideological types will be.  Just as they are in the real world. It's the natural order of things.  

/flame away  

Tradeforest is a fraud who in all his insecurities is completely afraid of Ripple.  He knows the flaws of Bitcoin, as do many of you, and it frightens him and many of you, that Ripple has aimed to fix them.  

Also, if you're going to explain Ripple, at least do it with integrity.  Ripple is still in beta and will be decentralized upon release of the server source code.  Sure, they render your mining efforts useless and for good reason but to flat out lie about Ripple either shows you don't know what you're talking about or you too are afraid of Ripple because of the deep seeded insecurities, that lie with the flaws of Bitcoin. That which the Bitcoin community refuses to address.  

As they say, you snooze you loose and never is this more true than in the world of technology.  Lastly, Ripple is not a competitor of Bitcoin and that is the truth.  It's a delusion that some have created in their own minds, again from their own insecurites.  Ripple is a compliment to Bitcoin and will allow Bitcoin to achieve the mass adoption that would take decades under current tactics.  (You know, begging merchants.)

EDIT:  And it was Tradeforest that manipulated and robbed that poor kid for 10.5 BTC.  Ripple only does what you tell it to do and Tradeforest used his Hero status to gain the trust of noobs.  The flaw is not with Ripple, the flaw is with the scammer known as TradeFortress.  (Yeah, I'll spell it right this time.)

I have 310 XRP's, so know what you're talking about before you challenge my motives.


Yawn.  That's your view of Bitcoin.  I simply see it as a virtual currency.  Nothing more.  You can keep the ideology to yourself.  I don't care.


Again more lies.  You can not create currency out of thin air.  You can create IOU's (I owe you) and get people to trust you to honor your IOU's but that is not creating currency.  That is building trust.   Personally, I wouldn't trust anyone but a gateway.  


Here's the real butt hurt tale of the story.  Ripple renders your expensive mining rigs useless.  Awwww....poor baby.  Put it up on ebay and get your money back.


I understand Bitcoin just fine, I just reject your ideology.  And since no one group can determine what Bitcoin is or will be, you're say is as valid as mine.  No more so that the new guy who buys Bitcoins today.  I think it's you that dosen't understand....we, the masses do NOT CARE ABOUT YOUR SILLY REVOLUTION.  We don't care.  That's at least the 3rd time I've had to tell you that.

Your prehistoric and primate thinking is exactly what left the door open for a Ripple to change the game.  I'm glad and I'll use my favorite analogy:

Bitcoin = Napster
Ripple = iTunes

This is a true statement.  Pure speculation is driving XRP prices.  There is no justification for it other than greed.

Really, because they've said as much repeatedly.  Ripple will be decentralized.  Period.  If upon coming out of beta, it's not decentralized, all those arguments will be valid and I will join the chorus.  

You have no idea what you're talking about.  You're just regurgitating Tradeforest talking points and you're not even doing a good job of it.  

I'll leave you ideological nuts to stew in your insecurities and butt hurt.  You should have fixed Bitcoin and now it may be too late.  That's your fault, not Ripple's.

The question is do you trust your gateway or not?  What's stopping you from sending your BTC's back to your wallet?  Nothing...just send the IOU's back first.  I've been using it too and it works just fine for me.  I can sell BTC's in the Ripple client, send the fiat to Bitstamp, buy more BTC.  Imagine when Gox comes on board, you won't have the spreads across different exchanges because you can immediately exploit the differences because you can move fiat or BTC, wherever you choose, for next to nothing.  

Without Ripple, if you're trading on Gox, you trust Gox with your fiat and BTC, right?  How is that any different?  Gox doesn't have to pay you.  They can run away with your money at anytime they want, so your argument is ridiculous.

Maybe if you actually went after those who were talking this nonsense to begin with, I'd listen to you.  But you've proven your bias against me personally so...

NO!

What I mean when I use that analogy is that Napster started the music download revolution but in the end was killed and it was iTunes that came in and did it the right way.

The foundation of Bitcoin is solid but it's full of flaws the Bitcoin community refuses to address.  Add to that, the continued refusal (As if it would even be possible to avoid) to submit to regulations.  This will kill bitcoin on a mass adoption scale faster than anything.  

Ripple, like iTunes is prepared to play nice and work within the confines of the law.  Not to mention, doing all the things Bitcoin could have done, but didn't. For instance:

Imagine, Bitstamp, Gox and all the exchanges as Gateways.  Then add Paypal, Bank of america, Citi Bank and any bank worldwide you can think of.  In time, you can use ANY of them as your gateway to move fiat and BTC.  You can also choose to NOT extend trust to any of them you choose.  This gives the power back to the people.  

I could theoretically buy BTC via paypal and send it to Gox.  Then I could sell that BTC at Gox and send Euros to some bank in the UK.  I can choose how and who I trust and when and where I utilize the gateways.  Now this is a simplified version as Ripple is in between these transfers but the cost from ripple is .00001 or something like that. It's like nothing.  This is what XRP's are for.  To pay transaction fees.  The average user wont need thousands of XRP.  The biggest fees are going to come from the gateways, which they already charge too much, IMO.

What?  Ignore list.

Why use Paypal when I can have incredibly low transaction fees?  Makes no sense.  It might invalidate YOUR view of Bitcoin but that's not what it's going to be moving forward.  We'll regulate it or we'll kill it.  Meaning blackball it from any mainstream existence and reduce it to a black market only currency that legitamate business wont touch with a 10 foot pole.  

You ideological guys better wake up out of your delusions because the crypto train is leaving and you guys don't even seem to have a ticket bought for the future.  I'm done with this convo in this thread.  There's plenty of Ripple threads out there and anyone looking for genuine Ripple info can visit the Ripple forums.

You want to understand Ripple, this guy know his stuff.

https://bitcointalk.org/index.php?topic=211068.0

 

I don't see any reason to suggest we're going down.  BitStamp coins are refusing to sell at the lower prices and are just holding.  It's a clear standoff.  It's going up when we breakthough. 

OMG...did I just say....it's going up?   

 @ Rampion    Love that pic.  Want to hang it on my wall.

You guys are finally starting to loosen up.  That's good!  My recent predictions have been quite accurate, so maybe it's actually going up.  

Come on in...the waters great...or...maybe...




 

At least we'd have some freaking action.

That means there is tremendous confidence out there.  No one really seems to think the sky will be falling soon.  I better step up my FUD game.  

Just noticing that.  Looks like we may be headed to 120.

Very good point.  Didn't think of that.

    I honestly just don't see anything negative ATM, other than low volume. That's not necessarily bad for Bitcoin though. The huge ask wall at Bitstamp is concerning but not sure what to make of it.  There seems to be confidence out there, lots of good news and no real bad news that I can find.  And I looked hard too.  

While I think it's a coin flip at this point, if I had to bet, I'd stick with prices going up based on what I see.  That could obviously change.  

If you notice, last week when people where screaming "rally", I said clearly it wasn't because I just didn't see any real momentum to push through and I was right.

Now, I look at this huge ask wall at Bitstamp and everyone seems confident.  There's no desperation to sell and people are holding their positions.  Add to that, nothing but good media coming out of the US, Canada (While apparently confused on what the law says) is backtracking from it's previous position against the banks.  DHS at least is pretending to only be focused on FinCEN violations, although I'm not convinced this is the end of it. But all in all, things are quite.  

That's either a really good sign of Bitcoin's continued resilience or a scary sign of rough times ahead.  Like I said, to me it's a coin flip but there's more positive than negative right now, from what I see.  That would lead me to believe we're going to see at least a small upswing, possibly as high as 130 sometime this week.  

That's my weekly prediction.    

So what's your prediction?

That's the entire purpose of a conference, is to make people think "things are happening".  I won't read much into it until I actually "see" things happening.  

Back on the exchange front...there is continued pressure to move higher but that wall at 123, doesn't want to move for anything.  Maybe as the rest of America wakes up, they may see the push into 123 and shift their positions.

I said nothing about what people "want" to do, I spoke on the purpose of conventions.  To build hype and excitement.  Doesn't mean there's anything truly "happening", then again dosen't mean there isn't either.  Hence the reason I said when I "see" something happening.


If price is an indicator of the convention, as you're alluding to, I'd say the convention was flat and low on volume.     Obviously you enjoyed the convention...that's great.  Don't get snippy because I didn't break out the pom-pom's.

You guys are so sensitive, it's like talking with a bunch of girls who just finished watching "The Notebook".  I've been in sales a long time and have been to countless conventions.  They are just shows people.  They don't mean anything.  You look for what traction comes from those conventions, not the actual convention itself.  It's a networking opportunity, display your products and you follow up on leads, from that convention/show.  It means nothing, if nothing comes out of it...and that's why I said "see".  Sheesh.

Someone really doesn't want this to go up do they?

Look, you're really blowing this way out of proportion.  The convention just ended.  All I said was "I" wasn't putting much stock into it at this point.  Me...not anyone else, I didn't try to lead people to think as I do, I simply said "I" and especially as it relates to the current price.  Whether or not the convention was a success, is something I personally will determine over the next coming weeks.  Again, "I" don't think it's going to have any immediate effect on the price or volume and to this point, it hasn't. 

Hmmm...interesting.  I see the one on Stamp and that's probably going to mess with my plans.  At least we have something to look at, even if it turns out to be nothing.   

That's true.

That IS the purpose.  It's a sales show.  A facade.  A sales prop and you of all people should know I could careless what people on these boards think.  It's not my fault you guys don't know what a convention is.  You drink the Kool-Aid...I know what's up.  And in the coming weeks, we'll see if this song and dance has any positive benefit.  

One last point...BFL was at the convention.  Anyone get their units yet?  Exactly...it's a song and dance.  It's means nothing, in and of itself.  Now, let it go.

Well thanks for the education.  


To 123?     How about through 123.  Still 1300 coin wall on Gox @ 123.

But isn't it logical to assume that paying an extra $1 is better than possibly $2-$3 in slippage?  I guess it also would depend on the mind of the trader.      Kind of like poker, no two people play it the same. 

Thought so...that's why I put a smilie.  I was like, "huh...a 0.8 rally??"   

   Ha!  That's funny as hell and he threw it in their faces too.  Definitely food for thought.  That's actually why I come here, to learn things like that.  That's awesome.  Thanks~

Be patient, everything is cool.  We were actually at 123 pretty good all morning.  Bitstamp has remained over 118 since. Now with what Samson just laid out, I see "traps" everywhere....I don't know what to do.  

Edit:  Well...there goes that 500BTC over on Bitstamp.

Yeah and another 200+ just got eaten.  My Bitcoinity sounds like a freaking woodpecker over here.     We're pushing 119 now. 

I know right.  Fiends for action.  

Hopefully it's a sign of the times.  It is good for Bitcoin if Gox loses it's dominance. 

 

My plans are ruined at BitStamp for the moment.  Guess I'll just sit back and watch.  

2800 BTC before we go over 120.  Buy wall is growing slightly and the ask wall is coming down.

So what are you guys suggesting the purpose and thus end result would be?  Speculating of course.

  Good for you, that's awesome!  That to me is on topic at least compared to some of the stuff we get into.  

And thanks guys for posting your opinions on the current situation.  It's obviously all speculation but some really excellent points that seem to be based on some real world truths.  I guess it won't be long before we all know.  I'm just waking up from a nap so catching up with the thread...now about those walls.

Wheres the fun in that?   

Down goes 124!

Um...just a point...but if that was me who said that, the flame session would look something like this:










































Just saying...

^^^That is freaky! 

Serious wall at 125.  Think we'll break through tonight?  

ATTENTION SHOPPERS.  ATTENTION SHOPPERS.

We regret to inform you that the sale has been cancelled.
This employee has just been fired for spreading false rumors.
Please return to Mt.Gox so the rest of us can continue to take
advantage of the BitStamp discounts.

Thank you and have a nice day.  

1000BTC buy wall @ 120 just appeared on Bitstamp.  

A speed bump.    Kidding of course.

Bitstamp headed to 123.   Gox...well...zzzzzzzzzz

That should be easy enough... ....oh wait...

TGIF!

Didn't pull my limit order in time @ 128.44$.  

Now I feel better.   

And then of course there is Coinseeker, who is like E.F. Hutton around these parts.  

132 wall just vanished! 

Yeah but, 131 is ~1800 coins away.  Fundamentally, nothing has really changed.

What's up bulls?    Nothing really stopping you from running up to 137, what's the deal?  I figured with all the bullish talk, you'd be selling your houses trailers by now.  

I kid, I kid.  

Oh yeah, there is nothing stopping it after that.  I've just learned to be a little more patient with BitStamp.  You see how long it took to break through 130, right?  

Additionally, it would seem to me there is alot of continued upward push.  As bearish as I like to be, I still see nothing but "open road" ahead.  Obviously one whale could send this whole thing crashing but as it stands, this looks to have some continued power behind it. 

Kinda hard to be wrong with a prediction range of 130-1000.    

Seriously though, without any really bad news, (major USG type news) I can't really find much fault in this analysis.  Speculation of course, but fair.  For me it's the same, really too soon to narrow down the "silver bullet" to the rise as so many new things are taking place.  It may very well be just a perfect storm building of incoming capital, aftermath of the convention, confidence after Dwolla and Liberty, may well have a positive affect soon.  Not sure how well Gyft sales are doing but there is just a ton of little positives that seem to be adding together nicely.

For you bulls, I have to admit, there is much to cheer about or at least be optimistic about in the short term.  Mid-long term is anyones guess but for now, enjoy the fact that I can find no legitamate FUD to spread around.  

I'm a short term bear, long term bull.  I want cheap coins, like anyone else.     Been actually "skimming" a few points between Ripple and BitStamp, best I can.

I haven't changed my mind.  I speak on the here and now and all seems quite at the moment.  If you continue to believe Bitcoin is out of the crosshairs of the USG and DHS, please feel free to continue in your delusions.    I have every confidence we WILL see double digits again.  Fundamentally, that hasn't changed.


If you actually followed my posts, you'd know I've never had more than 600 XRP up until last week, which I won a contest for 75k.  You can easily check my XRP and see what I have left....I'll wait..........................

Foot enter mouth.  

Why you would want me to repeat my beliefs, of the USG coming after Bitcoin, is beyond me.  My views have not changed but why repeat them every day.  Things seem bright, you all deserve to enjoy the moment.  If any of you was ever paying attention, you'd know that I don't actually spread FUD.  I just call things the way I see them.  I said last monday we'd see a rise, "possibly as high as 130".  BOOM! Most of my predictions are actually accurate since I've been here so, you believe who and what you want.

But since you just want a negative jewel, I'll give you one.  In the end, I still think Bitcoin will die or at least be marginalized to black market nothingness.  Why?  Because it defies human nature.  It is based on anti-trust beliefs, where systems like Ripple are, based on trust in one another.  Two different systems and in time only one can survive.  If history is any indicator, I put my money on trust verses anti-trust.  

Now please tell me how your desire for more negative has helped this thread. Or was it you really just thought you had a "gotcha" moment.    I'm too smart for you son.  Please go back to the kiddie table and stop trying to pick a fight where there currently isn't one.  

I believe there is money to be made on Bitcoin.  I said "in the end".  No telling if that's 1 year or 10.  It's just my opinion.  I don't have more than I can afford to lose in this thing but still speculation requires seeing further than 1 or 2 days.  I see things, obviously different than you...and that's ok.  I didn't want to be negative, but also like you...I can't help myself when I get called out.  

I answered to my quoted comments and stand by them.  I don't say things I don't mean...well...at least not very often.  I just happen at this point in time and since early last week, feel the market is trending north and I'm not going to say it's something other than what I see, even if that means giving you bulls a "win".  If tomorrow I see a downtrend, I will speak on that, and even though my reasons for such would be justified (or I wouldn't speak them) I'll still get accused of FUD, just because it's contradictory to what you bulls believe.  

Maybe you and yours could take a look at the double standards you perpetuate and this thread would be a whole lot better for everyone.  I'm in this to make money and you're in this for a bigger purpose.  While I disagree, I respect you and yours standing by it.  It's just a shame the street doesn't go both ways.

Except the main difference is, I am accurate.     You guys just get sensitive because I mock your "revolution".  I'm a capitalist, I'm here to make money. The rest you can keep.  If you don't like my analysis and speculation, the ignore button works just fine.      

One of your famed libertarians:

http://youtu.be/Ybud1Ai1dWQ

Here's what he thinks about Bitcoin:

http://youtu.be/k5m0jJqnpLo

Even your "own" are mocking you.    

Actually the price did plummet and I told you all to sell at 119, 118, 117, 116, 115, 114, 113, 112...etc.,etc.  Now, why would I be scared?  I have nothing to lose here.  As for my "analysis".  You must mean "perfect".  No, my speculation is not perfect, but it's more accurate than most I see here.  If it wasn't, you'd be falling all over yourselves quoting every missed speculation.  My guess, you did research my history and see accurate prediction after accurate prediction.  That's not arrogance....that's a matter of fact.  

You see, because I am not blinded by ridiculous basement ideologies, I can see clearly.  Here's the totality of most of you guys (and gals) speculation:

"It's going up today!"  "We're going to the moon!"  "Choo choo!!"  

Really?  How can Bitcoin or anything for that matter, always go up?  Is that what you guys call analysis?  Speculation?  This thread should be called the "Delusion Observer", because with the exception of a couple here, that's all this is.  Delusions being supported by likeminded delusions.  I guess if you only ever say Bitcoin is going up, it's like a broken clock being right twice a day.  Genius strategy.  All your silly graphs with lines that go....wait for it....UP!  


What's more pathetic is how cool I thought Bitcoin was.  How excited I was to accept Bitcoin at my business.  How I wanted to do anything to help Bitcoin achieve mass adoption and then...I met most of you ideological "Crazies".  How foolish I felt.  You showed me very quickly what Bitcoin was and the selfish, anti-American, and most importantly, anti-humanity values most of you espouse.  

Now, I only want to see Bitcoin survive under the strictest of regulations.  What you dream for Bitcoin to be, I would stand with the USG to stop you.  Because in all of their unrighteousness, it doesn't hold a candle, to the world of destruction you internet libertarians want to see come to fruition.  And why?  Because of a nerd mentality that's tired of being picked on, tired of not being popular and tired of not having any power.  Most of you don't have any other cause than to swap the current greedy bankers, with yourselves.  So transparent it's sickening.  Cheering yourselves as early adopters and reveling at the wealth inequality that Bitcoin just continues to represent.  You think Bitcoin is some grand new idea?  Nope...its the same greedy, selfish, 1% mentality that keeps the masses slaves to the few.  You just want the few (1%) to be you.  That way you can pay back everyone that's been mean to you, or rejected you or whatever other silly, insecure, cry me a river, sob story you have.

Now, with all these "bulls", why are we not over 1000?  How come you're not all sleeping under a bridge because you sold everything to invest in Bitcoin?  Simple...you're all full of it.


Yet, you keep responding.  


I love America and will fight to the death, if necessary, anyone who seeks to destroy her.  And that is a prediction, you can shove all in on.     If you have a problem with any of this...use the IGNORE button.  It's really not that hard.   

I still totally believe that DHS and the USG aren't done with Bitcoin.  Not by a long shot. But are you really riding me for "speculating" in a speculation thread?  You don't have to agree that it's that dire, that's your right.  I do and only time will tell what's actually true.  I make my decisions based on how I interpret incoming information, just as you do.  I shouldn't be demonized just because it may be contrary to majority opinion.  

I get frustrated and say silly things just like anyone but I feel most of what I say is genuine based on my view of the information.  Last week I said clearly that it "appears" as if DHS is at least pretending to only care about not being in compliance of FinCEN.  That could prove to be absolutely true.  I don't believe that but I could be wrong.  I had information last week and I used that information, free from ideology, to correctly determine a rise in price.  If I was concerned with just being "right", according to ideology, I would never had said such.  

I don't come here to be "right".  I come here to learn from a couple I deem worthy and to share my view of the incoming information.  I make predictions and I've been pretty good at it.  I have weakness for getting sucked into nonsense and that's why you see that passage under my avatar.  It's not for any of you...it's to remind myself of what's most important because I am just as flawed as any of you.

Well who would have thunk.   

+1  Very good.

Buckle up Bulls!   

 

I really think he bought his own wall.  Guessing of course.   

 

Well, so far Bitcoin or should I say the infastructure Bitcoin needs to be anything more than a speculative and black market sideshow, is losing that battle.  And DHS only served ONE warrant.  Talk all the big guy trash you want but people with actual businesses, fear the USG and FinCEN regulations are preventing any real launch of Bitcoin.  So Bitcoin's "resilience" is only in your own mind.

Look at the ATM's.  There could be thousands by now...but these people aren't going to jail for it.  Businesses are voluntarily closing or rejecting US users because they know the truth. All while you simply sit on your computer and pretend to be "hardcore", living in a delusional world that only sees Bitcoin increasing in value, even if no one in America can legally access it.     And please don't give me that, "the US isn't the whole world" nonsense either.  If there rest of the world was even remotely close to the volume of the US, the markets wouldn't be dead all night while you wait for us to wake up and of course...lead the world.  

They don't have to stop Bitcoin.  All they have to do is publicly link it to terrorism and block the flow of money.  It will then be unpatriotic for any US business to even ACCEPT Bitcoins, let alone become a legal money transmitter.  Delusions, delusions...everywhere delusions.  Without the US, Bitcoin is DEAD!

I wish they'd ban it too actually.  We have Ripple coming so, what do I care.

Heads up chart buddy....



   

What I know is the US dollar is by far the most popular black market currency.  Again, maybe in bizzaro world, it's bitcoin but here on Earth, the US dollar is king.  Bitcoin...ummm....what's a Bitcoin?  

The only people that need to transmit money anonymously, are criminals and tax evaders.  Within minutes?  You mean like 60 minutes.    I can transfer via Ripple in seconds for nothing and I won't have to worry about my accounts being seized because they accept regulation as a good thing, not tyranny.  Of course, some people just want nothing more than to go back to the crash of 2008, caused entirely by the deregulation of banks and the financial sector.   Brilliant! 

All Bitcoin has to do is drop it's "libertarian, destroy every government nonsense" and SUBMIT to regulations.  That's all.  And Bitcoin will be $300k per coin in no time.  What's it going to be?

   This is that newbie investor thinking that just because something is rare, it's automatically going to be valuable.  

Actually you're wrong.  I base Bitcoins value on the markets and what people are willing to pay for them.  The total in circulation is irrelevant to me.   

LOL...  There's more of me than there are Bitcoins, so yet another fail....but funny.  I'll give you that.  

Unfortunately, Bitcoin is not a currency.  It's a commodity.  If it can actually survive a while longer and achieve mass adoption, it could be considered a currency but just being able to buy a bag of weed, doesn't make something a currency.  Bitcoin is far more like gold as a store of value, but not nearly as safe.

Based on what, gut feeling?  Certainly not facts.  Bitcoin is slow and extremely complicated.  You have to be above average technical to even consider using it and then, who's going to want to when you can't spend it anywhere except to do illegal stuff?  

So, you're doing something that's super complicated.  That's slow and could never handle micro transactions.  That in this scenario presented would be illegal, thus you risk jail time all to buy a digital "currency" that you can only use to buy illegal stuff.  And somehow despite all this, you think it's just going to keep growing and achieve mass adoption?  It is the speculation thread but I think it's a flawed piece of speculation you've laid out.  More like a dream with zero basis in reality.

And with that, I'll take my Hero Member badge.   

Wow!  A whole $14?  So the plan is to spawn a new world currency off of black market sales and gambling, all while it's made illegal?  Good luck with that.


No, we'll have Ripple or something even better.  The first of anything is never the best.  Bitcoin is no exception.


It has a tremendous growth potential but not without mass adoption and you can't have mass adoption without conforming to the law.  


Sure could...once you submit to regulations.

 Again, you're basing the entire future of Bitcoin on illegal operations.  What legitimate business is going to want to deal with Bitcoin?  You're plan alienates the majority of businesses in the world.  


All very true, if done within the confines of the law.  Your black market, illegal strategy is a loser bro.  Just saying.  No chance.


It will attract the only people that care about such things...speculators and criminals.  Much like what we see now.  Liberty Reserve just got crushed.  I'm sure many of those folks are headed right to Bitcoin.  You probably think that's great.  Let's sign up the cartels and dictators of the world.  Bitcoin will survive but as nothing more than a tiny little black market payment option, that the masses would never deal with.


I absolutely plan to use Ripple.  The funny thing is, I believe Ripple is going to save Bitcoin from the thinking like yours.  It will drag Bitcoin, kicking and screaming, into compliance of regulations.  There's really no stopping it.  The big money investors and business owners will see to it.  One day soon, you're going to look at your Bitcoin holdings and look at the markets and say, "Thank [enter diety] for Ripple".  Ripple is going to legitimize Bitcoin and allow it to achieve mass adoption.  That's what I speculate and that's why I have a few BTC.

BTW-Thanks for the civilized discourse this time.  If you attack me, I'll attack you back but if you are civil, I'll be civil right back.   

That's what Ripple is for.  Just saying.

Good night gentleman. 

It's a homemade Bitcoin rocket.  Free kit with every 7950 purchase.   

Keyword, regulated.  Glad to see you coming around to supporting something that makes sense.


Right, by supporting regulations right?  Ok, just making sure.  I guess we have no disagreements now.  Please carry on...

I agree it's good news for Bitcoin, if it's sincere.  Just submit to regulations and hope for the best.   

   I know you guys hate that word...that's why I use it.  Settle down children, settle down.  It's just a forum. 

I wish you "bulls" would put your money were your mouths are and start BUYING!!  At least we'd have some action.  As far as I can tell, that's why you hate FUD...because you're so easily shaken in your faith.  Sell everything and buy bitcoin.  You shouldn't even have a computer right now.  It's depreciating anyway.  Aren't you in reality, losing money based on your delusions thinking?  Or is it really just all talk?

Patience is a virtue.  


Excuses, excuses.    All talk, no action.  It's becoming clearer now. 

As if this thread consists of any other type of speculation.   

That's quite a stretch to make what you just said, even remotely relevant to what I said.