Yeah, I'm working on getting a house now so I can fit in my 720 hookers.

Unless they were vetted in some way. 

And sexually transmitted diseases were not that common back then, at least where he was.

$120 isn't cheap? 11 million shares and a global economy that we are only hoping to get a small fraction of a percentage of ? $120 is VERY cheap when you factor in the market, incoming VC money, low float, affect on currency/monetary policy, etc. We are talking about a revolutionary game changing technology. Can you come up with something better?  

It should not be about hoarding.

Comprehend this

These show an uptrend. If they were a price chart you would call the maintrend very bullish

https://blockchain.info/charts/n-transactions?showDataPoints=false&timespan=&show_header=true&daysAverageString=7&scale=0&address=

https://blockchain.info/charts/my-wallet-n-users

Really, it seems at this point we are waiting for an Amazon/Paypal or the like to jump on. The China news and Russian Pay pal will probably affect the volume some.

A sure fire thing, which is inevitable imo, is another Cypress like event happening. When that happens we probably don't look back...

There was no Cypress event.

Have you checked productivity rates? Real inflations rates? Unemployment rates? Economic difficulties in Spain, Greece, Italy, Cypress, Ireland, and on an on?

Your analogy has a way of missing what it is that is happening in the world around us, an oversimplification of sorts. If you don't see it then I suggest you look a bit harder. We are getting closer and closer to a tipping point, essentially that is what I see happening.

The epidemic is here, but the world health organization refuses to acknowledge it, after all the stock markets are going up!  

Yeah, that's for sure, not only because the bank accounts were frozen, but also because you just do not quickly throw significant money to BTC if you never bought BTC before - you just don't have the means to do it.

I think it bears repeating that a stable price is not really stable at all when you consider that 3600 new coins are minted every day. It takes new money pouring in to keep the price stable.

I understand the citizens of Cypress ......


Man, three people have corrected my Cyprus spelling, I'm really sorry guys. eheheh

What you say is theoretically correct, but in practice I think you are overestimating a bit the volume of Bitcoin business transactions. Check Bitpays recent history: during their best month they managed $5.2M transactions in Bitcoin... And those where 99% buys from Avalon batch #3, which was sold through them. IMO this means that the rest of business transactions in Bitcoins is a peanut, I would be very surprised to discover that Bitpay accounts for more than 5% of the daily volume we had during the last days.

In fact, I bet that Silk Road merchants generate more volume in exchanges than Bitpay (if you take out the spikes in orders to BFL/Avalon).

A friendly reminder from a 2011 survivor.

Granted, but I do not see any reason for it to crash again, any time soon, there's too many wanting to buy at a lower price, like you. Some of them will get impatient, or risk missing the train. From a TA point of view, it looks bullish. That previous chart looked bearish.

Under 10% of people in China own a car. 40% of families don't own a fridge. The average Chinese person has the same buying power an 9 year old american boy. The people in China with money, will buy/hold/sell BTC as they please. Mass adoption in China was overblown, buying a fridge ranks slightly higher then BTC.

Gee, it was a simple market analysis. You guys really need to calm down with the manipulation talk. Honestly, market demand/offer is ALWAYS a stronger force than manipulation. It sounds rather silly to me that people look at the biggest wall on a market and say very securely that it is manipulation. Have it occurred to you guys that the one can only manipulate within his buying power? I.e. one can never manipulate more than one can buy.

I'm a bull. I was trying to minimize the bad news about Bitcoin in China. Try to keep up. 

90% don't own a car. But they're going to use money holding BTC? There is 0 domestic economy in China. Which is their problem.

The people with money, will buy/hold/use BTC. The rest? They weren't a factor anyway.

Any attack by Chinese Govt, probably makes it more popular.

Have you been under a rock for the last decade? China makes around half a million cars a month, all for domestic consumption.

[ Eventually, once the price stabilized you will get more people without any wealth what so ever buying BTC as a store of value.

What if a small % of those 500k (per month) car owners started buying BTC, since they have "money"?

Or what if they start giving away a BTC with each car purchase or something like that?  Hey, I just thought of a really cool marketing ploy, in general

How? If your hoard and don't spend then 1 - the price will be stable and 2- people will use the remaining BTC's, taking advantage of the 8 decimal places, for commerce. It doesn't matter how many are in "hoard mode" as long as it is being used. Those 8 decimal places are brilliant. Who knows, we may have to move it up to 11.

And realistically, if the value is high, why would anyone want to hoard it? Clearly speculators would take profits. Not to mention the early adopters selling some to help make political change and change in general.

Is this some kind of advanced reverse psychology that you are speaking?  
There was just a conference with lots of VC's there. So, some traders know of impending negative news and so are somehow driving the price up and risking lots of $$$ in the meantime?
You should write children's stories...  

Come on, you can come up with something more factual that that. How about the Japanese stock market COLLAPSED by 12% yesterday and that is a sign that Quantitative Easing (aka planned hyperinflation) doesn't work.

The Nikkei is up for a few reasons: 1 - They are printing A LOT more money there per suggestion from American Bankers. A LOT of that money goes into the stock market there, as it does in America. 2 - The artificially low interest rates create a situation where corporations are borrowing next to free money and buying back there stocks. Up 82% over last year. This reduces shares in the publics hands and therefor profits go up (with less shares to count for). 3. The artificially low interest rates cause savers to be penalized as savings is lowing value due to the inflationary environment. So, they put money in the stock market.

Now of course, the campaign to keep gold and silver down via naked puts is as strong as ever. They MUST not allow a rising gold/silver price to their money as the public knows the historical connection. So, they keep it down. See Gata.org.

Now, when you see the stock market fall 7% in one day, don't try to paint an inflationary induced rise in a positive way. It is up due to printing money, plain and simple.

When productivity goes down, unemployment up, etc. and the stock market is up HUGE, what the heck does that tell any sane person about the economy and the situation in general? We don't believe nor trust the what the government is saying, because we have learned better.

So give me facts.

What on earth is wrong with Gox today? Bitcoinity is showing 10000m++ of lag every few minutes.

We are in an interesting phase of price discovery. Clearly a lot of coins are disappearing due to being put in a "savings account" and at the same time we are seeing more coins being used for donations, daily purchases, etc. I wonder how much the price will go up just based on more adoption via actual daily usage??? Really, that is an interesting question as Bitpay and the like are going to be doing the instant conversions so will be creating liquidity at the exchanges.

 As the price moves up (and at times violently) we are going to see people call tops and sell. Eventually, I imagine there will be a reasonable distribution, but the early adopters will always hold a portion as they believe in the greater purpose. They will further most likely re-"invest" in Bitcoin in a variety of ways - e.g., legal fund, VC, etc.

Just considering the current float of 11 million or so and the fact that the actual float is probably less than half that, I really would not be shocked at any price this year between what we are at currently and even $1000. I don't care so much about the price, but it is still a very interesting thing to consider as we are still trying to understand what this is...

So, would rising transactions but on less volume be a sign of "hoarding"?

I'm a bit confused by your question. Where did I predict anything? Me not being shocked by a huge price range possibility?

Yes, I am supposing a lot, but aren't we all? And, I'm doing it in a sense of querying, searching and such. We don't know what it is we are dealing with and hence a lot of what I said. But I am not trying to say I know.

"and at the same time we are seeing more coins being used for donations, daily purchases, etc."

Time for Wile E. Coyote to come back!  

Is that a feeling you would be willing to bet on?

Well that's one way of looking at it, but it's wrong.

I am willing to bet 1 BTC that within two years there will be at least 10 times as many people using Bitcoin than use it today, as indicated by the number of client downloads. If you really think it's a safe bet, and you really think we missed our chance to get users, put up.

Bitcoin can't do more than about 605k transactions a day without a hard fork.

max. transactions/second is atm artifactionaly keept low to not blow up blockchainsize unnecessarily.

From the page aepfel linked:


7*3600*24 = 604800

i would accept. that also implies, that you are not able to craft your own bow. i already did this, when i was around 6 years old. so i will open a brand new bow-business.

it wasn't 7k but way more. you didn't count all the other guys who panicked. Check the volume.. the $10 drop wasn't that much

A little reminder. http://silverdoctors.com/one-year-in-hellsurviving-a-full-shtf-collapse-in-bosnia/

When we treat other people as "competitors" then stealing and such when times get tough is a predictable outcome. But we have known no other form of government and economics. We are taught in the schools that Darwin was right, when nature shows us cooperation is right. (Even with Lions hunting prey, Nature is mostly a brilliant example of cooperation).

So, you can express your examples till the cows come home, but your (our) operating system is an artificially created one. See, we don't know what human nature truly is if we watch TV, experience wars, etc. because we have been programmed from an early age to believe the BS they have been feeding us.

There are examples of peoples in the world (e.g. - Kogi) who are quite peaceful and retreat in the face of fighting (they did). But they don't follow our culture. And as this sick operating system is replaced by a more cooperative one, peoples will look back at this time and speak with certainty of how wrong we were about "people are inherently evil".

This example is  not correct. Actually, a lot of Russian gangsters of 1990s are in government now.

+1

When we treat other people as "competitors" then stealing and such when times get tough is a predictable outcome. But we have known no other form of government and economics. We are taught in the schools that Darwin was right, when nature shows us cooperation is right. (Even with Lions hunting prey, Nature is mostly a brilliant example of cooperation).

Since you're asking me directly like this, let me present you with my preferred option which you evidently haven't thought of yet:

...................*drumroll*......................

Opening my mouth and saying "hey dude I'm really hungry and in a bad shape. Care to share some of your food with me?"

That made me laugh  

Tada tam tshhhhh...

In other news ...


Not a great surprise really ... I would imagine anyone who does not want to be verified has been getting their cash off Gox or buying BTC post Dwolla

Funny !

I think that's a good message Your. Verification of accounts is better than fear for your money in their account.
After all (Dwolla, LR ...) they must prove that the Bitcoin exchange is not money laundering and terrorist financing.

Yes, but if you give to Gox a fake ID, then you're responsible for reliability of your personal data, not Gox.
Without verification Gox is responsible for it.

So, this is good news. Choo choo!

What about all the BTC stranded there when its closed robbed or burned??

No fear until $125 is broken

That ancient aliens created Bitcoin?

Does eating it count?

That would definitely add a whole new dimension to waching these red and green candles 

That´s not right.
Every currency has its own market on Gox.
Look at the Canadian Dollar chart or at the polish Zloty at Gox and compare it with the USD,GBP or EUR chart.
Every market has another volume.

Yeah, $50 isn't gonna happen, guys. That train left the station.  If you're waiting for 50 you might as well buy back now.


There's already about 6800 coins in bids on top of the low from that dump.  Keep waiting for "cheap coins" and you'll just be buying higher.

Is someone selling big?  It is now at $123.80!  Well if it drops to $50 I will sell everything even my clothes I am wearing and buy whatever I can!!

With so much investment into Bitcoin recently, I seriously doubt it will crash.

900 to 124 ONLY..

So... where are the bears? Where is the weekend dip? I need someone to dump 27,8k btc so my buy order at $120 gets filled  

Afterall it not was a fake bid wall at all, but a support wall. Some bull is protecting this inverison i think.

Hehehehe i was inciting bears

Anyway i bought at $120 and sell at $123 again, now i'm out at the moment with my play money. Looking at the weekly candles, midterm upward trend was broken with this last sell off.

but... but... next difficulty is like 15 million!

Let me call the worst bearish scenario I can think of.
Let's suppose all miners crap themselves and start dumping.
Let's suppose difficulty drops to 10 million because of some miners quitting the whole bitcoin mining thing (like it happened at block reward halving time last December).

Woudn't a 10 million difficulty sustain a price of at least 100$? 50$?

Also there are at least two retail markets that exclusively rely on bitcoins to function - one is selling drugs online and one is selling BTCs to people who can't directly access western currencies. Like it or not these markets are established since 2+ years by now. As long as they keep thriving the fiat value of BTC cannot drop to zero.

(cat pic original from simonscat.com)

See: https://bitcointalk.org/index.php?topic=178336.msg2349033#msg2349033

Much as I'd love to "pounce"...I wouldn't worry much.  Looks like just an overreaction to the $1 million wall, that's been artificially propping things up.  Would say we'll bottom out at most, in the 110 range before pulling back some.  

Bear territory indeed...

All this selling is just silly...
Unless you buy back cheap but i have the feeling this are people who are cashing out long term.

I wonder why they did not just do that. At one point it cost only around 200 BTC to break 115.

That's just from gox and your scale is off: 22000 kUSD / 130 kBTC = 169 USD/BTC (should be 117 USD/BTC).

lol what a wallet can have -BTC ??

Sold some @125

just a random date  

Looks like bug.

Ripple's debt disease has infested the BTC blockchain!

a) blockchain.info site error
b) bug in blockchain

Fuck, Jaroslaw just posted ... quick, buy everything you can 

Yes... take out the competition. This will only add to the Bitcoin market cap.

Hahaha i just knew it was this song!

I'm genuinely surprised that a site called nigeriagoldexchanger.com wasn't closed down long ago!   Also, looks like one of the webmoney domains was taken.. Webmoney is BTC's biggest competitor - so if anything, this is bullish news.

I wonder what caused this lag. The volume really wasn't important.

-t is a continuous ping in windows

bulls in denial, time to take advantage?

i think so!

sell everything!  



ps: this is not sound financial advice.

It's about time. Following the curve from February 2013 (strictly intersecting points and not highs and lows), we are heavily undervalued.
I'm buying up so many bitcoins that i'm running out of fiat  

Really, this is an exciting place to be. Taking part in the largest social experiment the world has ever known is huge. Maybe that makes BTC sound cheap as it will live on in many forms regardless
of what the government does, so the experimental part is the immediate part.

so I'm a little bit too late to the discussion,
but i still have to post this.

don't want to sound like a jibberish crazy btc evangelist but if you watch the history of the world over the last two hundred years, real progress was always pushed by genious inventions by single people or small groups (if it's electricity, phone, car, plane, computers, internet etc.)
And everytime people went nuts in the first years after (well today more like 3-5 years by much faster  progress) and couldn't wrap their head around what the f*** they're looking at. They just knew it kinda led into the future.
But in those older times economy wasn't like today. At those times inventions rised through small local supporters with cash.
Now with big companys dictating the people to what stuff they have to adapt to has slowed down the rise of epoch-making inventions because profit is even more or at least half as important as innovation.

Only real innovations in the last years were imo completely virtual (software, social interaction etc.,), so the web is kind of keeping the old spirit alive as a playground of genious people being able to do fantastic stuff with small budget
and of which is mostly not profit-orientated in the beginning (at least until adaptation grows).
(sounds like a much better thinktank than any bigtime company with thousands of people that have to justify their inventions with marketing strategies.
bitcoin as a code wasn't developed on profit in its own sense and it's suddenly there and people try to integrate it in their world although they don't even have a clue in what ways it could be usable in the future.
sorry if that's too theoretical for this wallthread, but after watching some short docu about people on an island trading their sea shells for services and goods,
i adapted that to a globally connected society over the web and began to be fascinated.

it's just logical after being conditioned to fiat as soon as you're born it takes some time for more people
to branch some new connections in their brain.
the nearest reaction for integration of btc is to treat it like some investment and hold it like a commodity,
because there isn't a real btc market to cover their everday needs.

if somebody found gold in the USA in the old days, first they started mining it, by that more cash was flushed into the mining operations,
the profit had to be spend by local workers around that hole so soon a small economy is growing and we have a mining town.

with btc starting completely virtual, only connection to real world economy was mining operation and fiat (via exchanges).
next phase where we are present now imo is virtual market growth (use in virtual market still feels like a currency of a small community (with few market sectors) in the real world)
nearest usage for btc (as long as there were no laws for it) were in marketsectors where it's important to do anonymous transactions like drugdealing, other illegal services and money laundering
(that will be regulated at some point in the future so that at least regular john doe consumer guy can't figure out how to do it, like with fiat ).

usage as a virtual currency for virtual services (eg. for music, movies, e-books, cloudstorage etc.) is the logical step which will branch out more and more connections to realworld market.
(every vendor on the net would be happy to get cash via such fast transactions)
big companies would only be interested if it promises gain in profit.
(just look at amazoncoin, right now they see it just as possiblity to get dependancy of customers.
for them it's theoretically holding shares of their customers. market the other way around. really nice strategy)
so btc has to create its own economy until the market share becomes so big that these companies can't ignore the spending capacity anymore.
everything has to go step by step, first the code, then the mining, then some cash
and now its time for new marketsectors to catch up and someday we will be ready to stem the big guys,

so these are just some thoughts on my virtual sea shells. (when i put my ear near my wallet i can hear the numbers whispering )

ah yea and


I don't know where you're living I'm relatively sure you're not affected by ongoing crisis in any way,
don't have relatives that were scammed by banks, didn't get your bank account seized or haven't even thought about the flaws of a centralized currency in combination with a f***ed up financial system.

just keep on seeing the whole thing as some highrisk investment with real good profits perhaps you will realize the other side of the coin in the future.

kay should stop babbling...(one beer too much)
perhaps I throw out some monologue about decentralisation of currency in some hours
....
on with the show

I cashed out at $142...the question now is, when to buy back in?

Why every time we have a crash I hear in my head the song that goes:

"how deep is your love.... la la la la, la la la"

I wonder how many people's coins are confirming there way to Gox right now?

he has another 2k at 114.95

he's either trying to drive the market down or he has no idea how to sell into a thinly traded market.

he's been showing his hand the past few days

That is within normal variance.

That's just variance.

You'll have to do better than that if you want to cause panic around here.

7150 coins till 110;)

Hint: Unless you have massive amounts of funds at your disposal, you will not manipulate price.  You will never do it by posting on this forum (unless you hugely overexpose yourself using leverage and then brag about it ).

-----------------------

6120

will this do?

So you'll dump before americans wake up? OMG, huge panic will happen today 

doom and gloom, everywhere I look.

Stay realistic, people. The current downtrend didn't come completely as a surprise, and I won't pretend to know where exactly it stops.

But 70 isn't gonna happen today, at least not on the current trajectory.

You just started trading, right? I'm not going to pretend that I'm an old hand at this, but at least I learned that you don't simply draw a line through the points of the past 12 hour, expecting it will continue like that for another 12.

When I say "trajectory", I take into consideration the momentum of the current down trend. It might reignite, but right now, it seems we've entered a calmer period. If it continues that way, we'll see spikes of maybe +/- 5 USD around where we are now, but, no, not "70".

You mean:


this morning. Or 2 days ago:


Or maybe the topic I created ~5 days ago, titled


in which I said that people from both sides are way too fast to declare "up uP UP" or "down Down DOWN", and that the next important level to break before talking about 80, or even 50 USD coins would be 100.

Anyway. Do as you please. Just learn to read, maybe.

Whale who sold 25k must be happy right about now.

It's not just that.  Low volume is an indication that the actual Bitcoin economy isn't running.  The only activity I see on the depth window are the last remaining trading bots.  I mean, how is someone supposed to get a few bucks into MtGox to buy something on SilkRoad or wherever?  The Bitcoin price went from being 99% speculation, to being 99.999% speculation.  I'd love to know how SilkRoad sales have been impacted with the closure of LR, MtGox-Dwolla, etc...  At this rate, it's a long long way down...

well, i might be able to buy back in after all!

i have not paid for that lambo yet!

Guys, I wanted to make you a favour... So I sold a little coins at $108.5... Just because I wanted the price to rebound UP, I know you feel bad when our beloved BTC crashes

Testing $105ish today? I think as soon as we touch it we will go through it like a hot knife through butter.

Next level to be tested will be $90ish, and next REAL support $80ish. Anyhow, as Oda said earlier I think testing $80 won't happen too soon. But honestly, I think the sooner the better. I wouldn't mind at all going rapidly to $50 and double bottoming it hard, with big volume. That would mean that the only way is UP, slowly, but UP. IMO that's the best case scenario for the bulls. Breaking ATH during this year is not happening IMO. And a rally to $165 won't happen any soon neither.

everyone is so pessimistic today... you know what to do 

Whatever happened to that rptard guy, did they let him out of the 'secure unit' yet ?

1 ... 2 ... 3 go

rally up

 

ok not now, but when ?

It's working... It's working.... IT'S WORKING!!!!

Yeah. Like a boss.

And BTW, i spend them too. And I donate to BTC  causes too. It's just that my stash tends to increase instead of decreasing, is that bad in your opinion?

8.50000?

Yes, that is true in Paul Krugman's socialist keynesian wet dream.

In the real world we call it "using buzzwords (like 'hoarders') to demonize responsible saving."

Nobody ever has any legit data to back up their assumption that there is this huge number of people who hoard BTCs and never spend them. Although if you look at tx volume, you'd easily see that the ratio of spent coins to hoarded coins is much higher than with the USD OR precious metals. The second we say "Oh, but I do spend my coins" the 'anti-hoarder' crowd backs off - "Oh, well that's ok, you're a spender, you're benefiting the currency."
So what is the magical ratio of spend to saved coins you must reach before being considered a hoarder, and how can we empirically justify this ratio? No one has ever answered me this question, and I ask it every single time someone demonizes saving by implying that it "kills bitcoin."

People hoarded gold and silver and they were used as currencies for millenia. Thousands of years. Go read Fekete's papers on monetary theory you will shit your pants when you read what he has to say about hoarding  

350usd is my bet.

Patience is a virtue, those Askers have little.  Once the price starts declining again, we're going to see a lot more dumping...

(1) You made a nonsensical, irrelevant statement about a toilet.
(2) You acknowledged that you said something stupid and someone else responded to it.
(3) You made a nonsensical, irrelevant statement about "greed" that cannot be empirically proven
(4) You made a generality regarding the "hopes" of "others on forum," and used that generality to support some sort of statement about your mood. This is called a "non-sequitur."


Ok, so you replied by saying absolutely nothing. Great job.  

Oh, and this:

shits getting deep.

Some are holding coins in order to spend them later when it's easier and safer and they can buy the normal things they would buy in their everyday life without a second thought, and without having to change back to fiat... yes that doesn't account for the transactions now, but as merchants accept more and infrastructure develops, if the speculation does drive the price up, I am assuming people will want to spend their (now more valuable) coins... obviously this comment also doesn't have much to do with the transaction volume affecting the price on the exchanges now, but on that subject I will also put forward the idea that it may not have much impact on the exchanges, as day to day purchases of coins to spend coins would be inefficient, I will assume that many people already have large stashes of coins they might spend.... finally also bear in mind that some of the philosophy of bitcoin (for some people, and anecdotally a majority) is not to spend spend spend to drive a consumerist economy. As mentioned before, just because the economy is not full of high volume transactions, doesn't mean it's not living and breathing.

Stream of consciousness waffle here so take it or leave it

I prefer another of the excellent blockchain.info charts. Excluding distortions such as Satoshi Dice, this one clearly illustrates the long term growth of the underlying bitcoin economy. The drawn support line indicates a growth rate of 10x every 14 months which approximately agrees with the corresponding long term support line for bitcoin prices.

Dude, stop the Keynesian "deflationary currency leads to hoarding and hoarding is bad"-crap. People buy things, because they both want and need things. You cannot delay a purchase forever (post-mortem anyone?) so the fact that the underlying currency gains in value isn't going to stop economic traffic in the least *.

*Although in the beginning people might need to get used to this, but it will be temporary. People will need to get used that merely holding currency isn't voluntarily paying more taxes and that saving can actually be a good thing as opposed to the credit hungry society the west is these days. I don't have any debt, but I can assure you I'm a vast minority ....

Keynesians are like cockroaches

People have this all backwards.  Its not merchants that we need - it's earners.  We need to PAY people in BTC.  That's how you drive an economy.  Give people something valuable, and merchants will flock follow the money.  If those with millions of BTC would start paying hoards of programmers in BTC only, they will need spend that income, and that will drive the economy.  

If you want to make a river, pour water on the mountain top.

I see important walls starting at $106 and below.

*wild subject change*

Works for me.

BTW, today I sent money BTC to one of my best friends who recently moved to a South American country. He cannot easily send money out of where he's currently living, nor receiving money from abroad, because he just opened a bank account and he has not been working in the country for at least 3 months, so international wires are "disabled". Funny regulation, right?. Well, we just said *fuck off* to that, only two hours ago. True story. But yeah, what a failure.

Saying that what is happening with Bitcoin now "is a failure" defines yourself.

Dude... it has only been above 30 for three months now.  Unless you bought in the middle of a hype cycle you have at least tripled your money at these prices.  However, I'm guessing based on your posts that you in fact did buy during the hype cycle.  Don't worry... in 6 months to a year we'll have another one.  Zoom the fuck out and relax.

oh, and 4730btc to 105. I think people must be moving back their bids.

You sure spend a lot of time talking about price for someone who doesn't give a fuck about it.

It's like any nascent industry. You have the idealists first, then the whales/bankers/whatnot move in and fuck it up for everyone who started it.

Well this may or may not end that.    It seems "confusing" to you because you don't live in a mind state where people can see both sides of a coin.  Ideology is blinded to just one view.  I'm only here to make money and as I've said repeatedly, I just call it the way I see it.  Maybe that's in Bitcoins favor one day, maybe it's not. Just depends on the variables.  You often lack that ability and thus it's confusing when you see someone else do it.  Although most people just view that as rational thinking based on varying information.

I love how we're getting along.  

In other news we're still in the 109.9999 area.
Weekend is on and Bulls and Bears are already wasted.

But , there is still hope , remember what happend last Sunday morning? 

Where in the world did you come up with this price?  I've always said 50-60 but 13-30??   

Maybe he's busy doing whatever he does for the rest of the week and likes to play with his Bitcoins on Sundays.

What makes you think that Avalon are holding 68k BTC ? Did they say something ?

I would have thought they'd sell as needed when producing.

Welcome to Bitcoin, lady 

I bought at 156. Trying to keep my cool because I have fallen for this like 3 times now. It seems everytime I buy the price goes down...seriously.

Exactly right. Bitcoin has never been a billion dollar market in the first place. The figures most people are touting from Bitpay are hugely inflated because of mining equipment, and the evidence like data on sales of Humble Bundle, Reddit Gold and bitcoinstore suggest that people don't use Bitcoin as a currency in any significant way.

Not sure if you are careless or ignorant, but you might want to post a warning that these sorts of pictures can cause seizure.

http://en.wikipedia.org/wiki/Photosensitive_epilepsy

2 examples:

1. Someone in nigeria wants to buy an upgrade to their wordpress account. No other way to do that than with bitcoin.
2. Someone wants to send value across the world in less than an hour... they use bitcoin to do that.

But your question is erroneous. There is no need for it to function in such an exclusive way at this point in the lifecycle. It's simply the latent functionality which will, if continued on its current course be for superior to the existing system. It's like comparing Usain Bolt as a toddler to and adult Chris Farley in a 100m dash. You know Chris Farley will win in the short term, but in the long term? Nope.

Fuck, how much fucking cash do you fucking need you to fuck? 

Warning: NSFW

http://cdn.omg-facts.com/2012/10/19/c231ca10b40b1b315c54316ea5831f17.jpg

Btw, this is the last day when we see $95 EVER, you can quote me on that.  

Sold some at 98ish, sold some at the bottomish around $90 (as usual).

IMO the case for the "correction" is officially debunked, we are officially in the bubble deflation process, thus I expect it to go lower. Testing $80, and if it falls, testing $50. I'll load the truck at that point.

I would love for it to be fast, as we could enter a mid term growth phase quicker, but I'm afraid it will be long process. I expect plenty of traps and mini sucker rallies, as usual during bubbles deflation.

Edit: it hurts to sell coins, those paper wallets really looked at me with sad eyes, but at the end of the day the purpose is for them to be replenished ASAP with more coins they holded now.

I'm now a lonely bear with only 20% of the BTC holdings I had a couple of weeks ago, at least I can comfort myself thinking that I'm still a supernode, of the lowest grade, but still a supernode at the end of the day 

Ok so im starting selling

its 100$ over at cavirtex, looks good, very tempting  

placing some double digit  bids now
try it its fun!

A мoжeт ты тoгдa pyccкий выyчишь, мyдилa?

During the last weeks, I'm having the strong impression that the new official "market makers" are Chinese.

Just take a look to the times of the day in which big moves happen. It's always deep night in the US (the big buys that propped up the price today happened around midnight NYC time). And then, remember how in March everything "big" happened when the US waked up, including the April, 10th chart. Biggest activity was always during USA daytime.

This changed completely during the last weeks. I'm in Europe, and usually big moves are happening while I'm waking up. And I'm pretty sure there are not many big european players, because the US was always leading the market, and nothing relevant happened in order to shift the "power" to europeans.

On the contrary, just think on the huge amount of coins ASICminer is piling up. Just a friendly reminder, aprox. 15% of the coins rewarded daily (3,600 in total) go to asicminer. Half of that goes to public shareholders. The other half, stays in ASICminers and private shareholders hands. Then, you have the huge revenue stream coming for overpriced hardware sales. They really got a big piece of the pie ATM, and I'm quite sure that piece of the pie was taken from US hands.

What about Avalon? They should be controlling +100kBTC at the moment.

So - what do you think? We can officially say that we have to wait till "China wakes up" from now on?

PS: Coinseeker, I know that hurts... But it is what it is

Winter is coming. Polar bears approaching

People on this forum are looking forward to whole countries going bankrupt and you are surprised by this?

Wait, you sent people to the US and they didn't come back? What?

Perhaps rpietila doesn't have a mental illness, but is master at real life trolling. 

Someone just did. Juicy juicy.

Time for some music to go along with it: https://www.youtube.com/watch?v=A7TuFy0fcuw&hd=1

I cant believe there is no panic after the walls were eaten.

But a 1.5k wall from 93 just got pulled :/

The $180 prediction will come true... whether in 3 months, 6 months, or 12 months.

Which 75 million people? I don't think it's irrelevant to anyone. Bitcoin is an amazing invention... the bears are losing site of that, and people who haven't heard of bitcoins will be affected by their existence whether they realize it or not.

I think only the price will be 92.15 we see if the wall is bid or fake.

Very interesting, that site was the biggest bull shill/bubble hyper post bubble burst with ridiculous stories like China and Argentina that accompanied the bull traps.

Wow you sure changed in one month, I remember arguing with you about this exact thing.

I stand correct, the SR point is so '2011ish, everybody understands that BTC is not "heavily influenced" by illegal activity, that's a drop in the ocean, what drives BTC is the hope it will be valued higher in the future.

Yeah, I also discussed with you about how "important" was SR in BTC's economy compared to pure speculation, right?

And if I don't remember it wrong we reached the common conclusion that both BTC and fiat economy are driven by speculation, there's no other business comparable to it, correct?

I do see the word "greed" come up a lot when talking BTC. And of course the word "hoarding."

But what is wrong with the words "saving" and "store of value"? In a sense we are talking the same thing (though clearly not always.)
What is wrong with moving money (e.g. USD) created by a central bank and used to fund wars (since the war tax thing didn't go over well) into something else?

To have a money that doesn't penalize saving and is not centrally controlled is a nice step forward (before Star Trek like "monetary use"...)

I disagree with your thinking. It is not the solution to force people into altruism, nor to expect them to so behave.

The real solution is to create a system that incorporates selfish human nature and functions well with it. I think Bitcoin is very close to that kind of solution and that is why I expect it to function in spite of hoarding (and perhaps even because of it).

If Bitcoin will need some altruistic help to survive, than it is better that its idea perishes and is replaced with newer, better one. I have spoken.

Frozenlock/Blitz/Rampion right now (seen from ShroomsKits perspective) :

I would agree if kipochi wouldn't look soooo cheap. They have more typos than sentences on their barely professional page and no updates in a while, so I want them to proof themselves first. Their mpesa partner is not affiliated to mpesa aka some guy who's using his private mpesa account to manually funnel transactions?
I call this vaporware and would take bets that they don't process 1000 transactions within the next 3 months or prior to having serious issues. Total noobs trying to do finance at best. Maybe just some pump and dump.

I read an article about a relatively recent experiment where they dropped off some computers in a few villages with zero instructions. It was a short matter of time before those "village people" figured out not only how to hack, communicate and make those little bad boys fully functional but overall became computer experts and not just literate. The creativity they expressed was unexpected. Don't overlook the vacuum created in third world countries for knowledge.

Snippet


http://www.technologyreview.com/news/506466/given-tablets-but-no-teachers-ethiopian-children-teach-themselves/

So, how does it feel to be a believer?

3. Never seen letters?
Serious doubts have also been expressed about Negroponte’s claim that these people have never seen print, even road signs or words on packaging. Many Africans have expressed astonishment at this statement. It’s only 50 miles from the capital Addis Ababa. Beni, an Ethiopian, says, “I know part of Wonchi and it is not as remote as you displayed it.” Another says “I bet there is a good number of people in that village who write and read. I bet these children have their own "school" that teaches them something in "Amhari" or probably even some English….I seriously doubt the very "strange" picture painted here.” Indeed, it’s on the lip of a well-known tourist spot the Wonchi Crater, which has a lodge hotel (previous residence of Haile Selassie) and is a centre for Eco-tourism. There’s even Tripadvisor reviews for the place and lots of pictures taken by tourists as the crater rim is an established trek route, which you can do in a day from the capital.

Photoshop much?

Kipochi, the bitcoin wallet service is now being integrated into M-Pesa, which more than one third of Kenyans have already signed up for, as well as five million Tanzanians.

The Kipochi to M-Pesa service is operated by an independent 3rd party company in Kenya and is not directly affiliated with Safaricom the owners of M-Pesa.

insert large graph here

It was 1971 when Nixon separated gold from USD.

That looks like a pretty good sign. I wonder how much of that is day trading though?

this is really interesting.
transaction volume is relatively low http://blockchain.info/de/charts/estimated-transaction-volume
trade volume in the meantime is nearly as low as before the bubble http://blockchain.info/charts/trade-volume

(by the way is there a chart solely with trading volume on localbitcoins.com?
I'd love to see the volume there in different countries)

could be a sign that economy around btc gets time to catch up with more transactions on smaller volume,
while big exchanges take some rest?
not sure though if that's the right conclusion to draw... just my half asleep approach where i may have mixed up some things

I heard joe Lewis was investing in bitcoin
PayPal too (decently plausible??)

The market would have dropped in about 2 days anyway. So the result of this panic sale may have similar results.
A drop to 120$ in 2 stages is possible, so you might be able to sell on the rebound with little loss, and buy back sometime later.

BTW, I took a 3% loss on this shit, because I bought at 140$, estimating a small price rise to 144$ till the big drop, so you are not alone. 

What is this? What does it mean [first large number, then small one?]

Also, anyone have huge bitcoin address links? Who is the fatty mc fat someone was talking about with tons of coins?

40k  volume in USD, 40k in CNY.

However, you  should  notice the Chinese exchanges with volume have...  drum roll please... NO FEES.

Open your eyes; its fake volume.

+1.

Also don't forget: most of these asics are manufactured in China, and the Chinese have a track record of making cost-friendlier clones (even if its just for themselves)

except that litecoins cannot be mined via asics by design.

if someone doesn't take this off my hands i'm the one thats going to jump.

https://bitcointalk.org/index.php?topic=309114.0

if someone doesn't take this off my hands i'm the one thats going to jump.

https://bitcointalk.org/index.php?topic=309114.0

Everyone ready for Launch? Lunch? Luaunch?

What's wrong with it?

Hm.
The Chinese banking system is pretty fast. You don't need to have your money sitting around on the exchange waiting.
Bitcoin is any ways.

Btcchina seams pretty legit to me, sold there myself already. Can't say that for the other Chinese exchanges.  

I'm about certain the second we reach $400 it get's ruined by an influx of sell orders.

That's why I hate that people have a "goal" or "target" for when they are going to cashout. Everyone always mentions $400 or $500 etc.

Just hold it dammit, cause you're not making my itchy finger any better 

I meant you can't stop Chinese online sellers doing  Bitcoin sales, even if the government cracks down on exchanges. It may even be the case that government is aware of the futility of such crack down and decides to leave us alone. Anyway, if Bitcoin gets really big, what's stopping them from building several huge farms and mine the hell out of it? Who wants to compete with China in Bitcoin mining cost?

NO!

Just hold it until bitcoin reaches my goal 

But when you have to take in both factors...

Also there is IC fabrication cost, land, cooling, construction, etc...

We are witnessing price discovery.

BTC is not a stock, it has behaved like one, but what it is, is now being "discovered".

Do not worry about oversold, overbought, MACD crossing, etc.

We are looking at an entity that is a: stock (in a sense, ownership of the network), protocol (to be used for other things as well - e.g. stock ownership, voting, ownership tracking, etc.), a payment system, a currency, an asset (this seems to be primarily how it is viewed right now, commodity, etc.

If we continue to look at it like a singular entity and not the complex... for lack of a better word - digital honey badger that it is, it is going to run and we will still be trying to make sense of the chart. Once we have more data (months to years), then TA will make more sense. Till then, enjoy the ride.

And what if you are wrong?

we need to have bigger drop so that this would qualified as a bubble pop so no use to vs april here.

Bears are struggling to pull this castle down. First grip it gets to go up it's gonna hit with momentum again. All the senators at home buying bitcoins now they know the code breakers cant break the encryptionz

I do get the feeling a lot of people are mad at me for my habit of expecting the worst.

Poor bears. Pockets full of fiat, feeling sad and lonely because the choo choo train is leaving them behind

Just joking. Huge resistance at $650 on Stamp, BTC1,500 mini-wall (not so mini these days at the current exchange rate) not getting chewed.

For those who took profits in the $670-$700 range (Stamp) these were great moments. I personally managed to sell 10% of my stash at $675, re-bought at $420 and just sold again a few hours ago around $630. Let me add that it was mostly sheer luck, my intention was to just take profits and not to daytrade, but you cannot say no to such an opportunity

Gotta love bitcoin....

"Shorting" is that you own any asset that you don't need, but you decide to not sell it and purchase bitcoins instead.

That's what I call innovation. Our Greek government still kisses EU & IMF's ass for another 1bn Euro loan... pfft

I suggest you get some sleep 

Because this is Bitcoin

You bears are not helping to stop the rally with all these double bottoms all over the place. The last one has just been formed at 740$ with hardly 2 hours in between.

Not instantly. I said financial freedom in a decade or two, and I mean by today's standards.

Bitcoin is more than just frictionless payments and finance. It's a complete restructuring of the world and the elimination of many inefficiencies that held people back. The removal of those inefficiencies isn't just going to make sending money cheaper and some online goods available at a discount. It will enable whole new industries like the Internet has, but it goes far beyond even that. It fundamentally, radically decentralizes power. It blows away most of the borders that kept people from participating in the international division of labor. It thwarts all kind of oppression, especially economic oppression.

It is "rat poison," as Charlie Munger inadvertently said, or as Chamath Palihapitiya called it, "schmuck insurance." Power to the people. Truly free markets, everywhere. Think China during Mao's reign versus now. That's the kind of change that's coming. Even for people who never invest in this bull market.

You're quoting Spaceman_Spiff, not me. I said "just about everyone." And this has already happened before: Just about everyone is wealthy by 1950 standards, and especially by pre-industrial, and most especially by feudal standards. One to two decades is a long time these days.

it is hard for the normal people to tell the difference between crazy and brilliant.  


trust me when i got into btc at first, people thought i was crazy, now they think im brilliant.


really im some of both, muhahahahhahahaha




btw ch0000000000000000 ch0000000000000000000 mfs!!!!!!!!!

Actually, what people "wish or feel" is a really good indicator.  It's called sentiment and by itself is not a fool proof indicator but combined with good TA can tell you a lot about future movements. I think we're going down.  Not an April crash but just something reasonable and sustainable.  $400-$500's I'd say.  Which is still a big win for Bitcoin.

Sure, $3000 then $50. Most will cash out at the latter.

Or should we paint an alternative picture?

Remember, the pictures are painted by the big holders, not (only) the new money coming in.

Haha, fail. Gandhi would never pay attention to ramblers.

I'm becoming very bearish all of a sudden. And it's pretty much time to go to sleep here. Decisions...

Now we need a crash

Your posts are of way better quality now than they were by the time.
But also the sentiment that maybe you can be right with your price prediction helps. (With a more reasonable timeframe, though)

That wall at stamp at $838 should remember what happened to the 3k $144 wall few months ago (it was there the whole night and price didn't even sliped for a bit).

Cool story bro.

New money still uses Gox because it has historically been the most reliable and trustworthy exchange. Big money gives zero fucks about Goxbucks, they just want fresh and juicy coins.

What was the minor bearish news about?

Is that it!!! I thought it was going to be about shutting down the exchanges or something like that 

If 900 falls, it's going to be madness! MADNESS!

The only short-term indicators that matter, bid/ask sum keep fueling up for a breakout.

Arent you a cute little bear? (your avatar)

Poor bears....

Better buy back at a loss now.

Gentlemen... fasten your seatbelts cause we're going UP

Nice to be back, I did a little day trip to beautiful small mountain town called Ronda. So seems like we are going higher and rpietila still try's to talk crash here =) Well let bears be bears. Nice to see some real buying, been a bit quiet lately. When we break 1000 USD, there will be major media coverage. $999 is maybe a bit expensive while $1001 is cheap coins.

4 digit in 3, 2, 1 …

I gave my friend 10 mBTC for his birthday back on April 1st (the day we first hit $100). Was worth $1 at the time, now it's about to be worth $10.   And he called me a cheapskate at first too....

Dude, do you ever sleep?

You seem to be compatible with about 3 different time zones!!

So we suddenly all trust Gox again over Stamp?

But China was above $1k already ...

A question what if people start "losing" bitcoins to hike the price up. Is that possible? That could be a problem in the future if it becomes a normal practice. Is there a way around that?

I know this has been posted, but i think its worth to understand the pic even deeper...


..

I always think he's gonna get run over.

You are beyond help.  

The last hour or two we've lost 1000BTC to $1000 on Bitstamp.
But still 6500BTC to go.

I think he finally found out that we won't go to 50 before we can go up.
Some people are just a bit slow.
But good to see he's ok now.

I think you got confused 'cause of the buns...

I told my wife there are at least 2 girls on the forum and he laughed, but you have to admit there aren't many girls in to Bitcoin, this upcoming $1000 party is going to be a sausage fest.

LOL, he[/b] she

http://www.birminghamescorts.co.uk/bitcoinescorts.html
Bitcoin escorts for parties hahahahaha

Sausage fest isn't it?

OK, finally I got it. Everybody is just envious because I have $millions and they don't, and I did it in the very coordinated way that never risked the majority of the position, in fact at current prices the remainder of the position is already worth more than the whole of it before divestment.

When you cannot argue against operational excellence, you whine. No whiners will be invited to the inauguration ceremony of my castle, however.

Sorry to be so blunt about it but this seems to be the only realistic explanation for the whinery, am I not right?

I tried elsewhere with no result, so can someone here explain how this can happen -> https://blockchain.info/da/address/1CMMBYkiB3AVXbysaYuFEepSJTVRggFaNm

A friend sent 0.9 BTC to my brain wallet by scanning the QR code in my Blockchain wallet app. Exactly 10 sec later a transaction is made from my brain wallet to an address I cannot identify. As if it automatically forwarded the BTC's. What the heck can I do? It's quite a lot of money just laying on some random address now..

agreed with niothor.

This is just a reminder to those who might have forgotten or those who are new to bitcoin.