here we go again

must be sunday

I thought the whole idea of Libertarianism was less taxation (and hence government). Aren't they the opposite of socialists, closer idealogically to Republicans than Democrats in the American political scale?

That clarifies it a little. I've always felt that collectivists were the problem, whether they were corporations, unions, motorcycle gangs, or governments.

Here in Canada there is a strong tradition of individual rights. Most people considered Pierre Trudeau to be a socialist, but when he created the Canadian Constitution and Charter of Rights, he stated that collective rights should never have precedence over individual rights. I guess that made him a bit of a Libertarian.

Obviously anyone wanting the price of bitcoins to fall is a speculator and not a Bitcoin person.

In fact from what I've seen, both sides tend to look down at each other. Bitcoiners look down on speculators as moron gamblers, while speculators look down on Bitcoiners as cultists.

This being the speculation folder in a Bitcoin forum, there's an inherent conflict of interest present.

Don't worry. Once the speculators have re-bought, they'll be more pro-Bitcoin than the most rabid Libertarian or crypto-geek.

In the meanwhile, every day more businesses start accepting bitcoins and Bitcoin-related startups get closer to opening for business. When was the last time any merchant announced that they were discontinuing accepting bitcoins?

I missed the excitement a couple of hours ago because I was watching the baseball game, but it makes me think about the similarities between this forum and many baseball forums. The self-styled "knowledgeable baseball people" all look down their noses at "casual bandwagon fans" and go out of their way to show everybody that they're not "homers". The self-styled "real fans" are appalled that anyone could have the audacity to diss their beloved home team on their own board, even when they've just played a horrible game.

Human nature I suppose.

LOL

Post of the year

It reminds me of an old W.C. Fields/Charlie McCarthy skit.

Fields: It's very small.

McCarthy: How small? Do you need glasses to see it?

Fields: Yes, several.

Wow. Great entertainment. Nice little wall dance and dump and the daily candle is still green. Barely.

Another day comes to a close  at MtGox.

Another day ends at MtGox.

Sorry, no gifs. Just a jpeg.

More popcorn please.

Finally. Now I can go to bed happy.

All is well in the world again.

For now, anyways. Let's see how long it holds.

Another day at Gox. Started so promising but slipped back later in the day.

I had the tall green ready:

But it regressed to the shorty:


Hopefully, today's slide has ended and turns out to be a little bear trap.

Another day another candle. Short, but at least it's green. Green is good.

Still too early to tell if Friday's dip was just a bear trap.

Another day, ugh a red candle but a fairly short one.



No sweat, low volume Sunday fluff.

Just woke up and grinding some coffee beans so I'm not fully awake yet, and I probably shouldn't make premature judgments, but it looks like a wonderful day.



Hopefully the trap has been sprung and is done and the price can continue its relentless climb back to normal after June's horrible (but artificial) Valley of the Gox.

Kinda like that old 80 wall. You know, the one that was supposed to bounce us down to 50?

It's been eerily quiet for a Monday afternoon. Something big's coming.

Time to start popping some corn.

LOL

Different people have different ideas as to where the price is "obviously" heading.

We're all just kernels of corn in this thread.  

Silly little bears.

Don't worry. You will in time.

Just how long?

Another day, another short green candle.

Still waiting to break through.

Just finishing my morning coffee and checked in to see we're stuck in the same directionless dither as yesterday afternoon, but a buck lower due to that one 2k+ dump last night.

Whales, whales, please come out and play. My popcorn is getting stale.

Mr. Market? I thought it was Ms. Market.

Sometimes I think it's dirty old Uncle Market.  

This.

I'm not sure where you got that figure.

As for the supply of coins, it is fixed and at a virtually steady rate for another 3.5 years.

I'm of the opinion that unless miners are cash-strapped that they'll simply wait for the price to come back up before selling. That's if they're even selling and not simply hoarding as so many seem to do.

Remember that even at today's depressed prices, mining is still profitable. A year ago the block reward was 50BTC with a total value of $250. Today the reward is only 25BTC but the value is close to $2500.

The hardware rules may have changed but the economics are still the same. No, it's not worth buying up GPUs anymore, but if my BFL miner arrived today, it would still pay for itself in 12 days at today's price and difficulty. While that's a lot longer than the 2 days it would have taken in April, it's still pretty good. Even if it takes months longer and difficulty hits 9 digits, it'll still return a 100% profit  every couple of months at today's price. When the price bounces back up, the return will be even better, at least until the next reward halving. By then, who knows what the price will be?

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

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

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

LOL I guess that depends where you live. While minimum wage here inflates more slowly than a gallon of gas, it does still inflate. 20 years ago a cleaning lady cost $10/hr. 10 years ago it was up to $15. Now I pay mine $20 or she'll go sling beer at the local and make more in tips. Even that's not enough to compete for her cleaning services with the rich guys at the yacht club during the summer.

As for that pound of herbs, the price has actually fallen in recent years.  

Another day, ho hum.

Yeah, I always wondered who "The People" are.

Are the Rothschilds included? They're definitely people.

Satoshi, on the other hand.....

While some shareholders may dump, I suspect the sell-off won't be as big as some people anticipate.

The kind of people who buy shares in an enterprise like Satoshi Dice are often either Bitcoin faithful (more likely to hoard) or gamblers (more likely to bet on the more volatile currency).

Yes, there will probably be some dip, but not enough to say goodbye to $100 for more than a few days.

Yep. 2 whale dumps and the whole place is shaking off its denial.

Oops. It's back in the 90s.

Meanwhile at Virtex it's 90 bid and 95 ask.

LOL

Hoarding. I'm mainly here for the entertainment.

Mind you, I'm tempted to deposit some CAD and place a ridiculously low bid.

There's nothing like hoarding cheaply bought bitcoins.

I just woke up and was amazed to find things pretty much the way they were when I went to bed.

Still hovering around 90, 5 hours after the pair of whale dumps.

When do the first round of incremental payments to SD shareholders start?

Gotta grind some beans and wake up enough to enjoy the show. People wanted activity? They're getting it.

I checked the charts before going to bed sometime near 3AM EDT (7AM UTC), just in time to see the second whale dump, the big one that drove it down into the 80s. Stayed up another hour or so to watch the fireworks, but I was nodding out and put myself to bed with the price having bounced up to 93 and back down to 90 and change.

Amazingly, I wake up, run to see the charts and see basically the same price.

Edit: Oops,  I realized I used EDT. Coffee brewed, must drink. Mmm, freshly brewed Mocha-Java, full city roast.

What if you threw a party and nobody came?

Weren't the payments supposed to start at noon UTC?

Since then, volumes have slightly dropped and the price has slightly risen.

Perhaps, as I posted last night, the kind of people to buy stock in a BTC-based enterprise like SD are more likely to hoard than sell, especially in a market that was trending upward.

The day is still young. Wait and see.

That's exactly what I do whenever I start to feel bearish.

Zoom out to 1 year and see the big picture: steady growth, a big bubble, a burst, a dead cat bounce, and a return to more or less the same steady growth until the US DHS's shenanigans with Dwolla and Liberty Reserve, the resulting impact on MtGox and it's bank, culminating in a panic all the way down into the 60s, a trend reversal all the way back to triple digits, a bear trap in the 90s, and a period of pre-rally book consolidation with typical low volume.

The SD coin payout was pretty much a surprise. IMO the reaction is much less than I expected and only underscores the overall up-trend.

Indeed. That's why I posted my baseball comparisons a few days ago.

The real dichotomy isn't bears vs bulls. It's TA vs news.

You seem to lean more toward the statistically-driven sabermetrics/TA side, while I tend toward the live scouting/news philosophy. I tend to tie market shifts to actual news events.

This surprise from SD has me a little unsure how to read it though. At first, like others I assumed a downturn based on all those coins being released. Then I realized that the majority would probably be hoarded, but a market reaction was inevitable. This is not as clear-cut as the MtGox-trouble downturn.

We'll see.

Remember that MtGox issues really only impact Americans, and while the US market is the biggest, Bitcoin adoption worldwide is growing. The purchase of SD will probably benefit Bitcoin in the long run by lending more credibility. Add the situation in Kenya and the fact that all those Bitcoin infrastructure startups following the convention in May will be opening for business in the near future, and I feel bullish about the future.

That's exactly what I attribute June's/early July's slide to, rather than an extended post-bubble deflation. How things go at MtGox in these next couple of weeks will have a big effect.

If they're not lying about having their withdrawal backlog cleaned up in a couple of weeks, things should be OK. Unfortunately, they've long been prone to fibbing.

Remember back in April just before the bubble burst, the tweeted that their new SSDs (to replace the HDDs in their overworked servers) were in transit  and would take a day to prepare and then a half-day shutdown to fully implement?

The very next day, their servers failed "due to their own success" and the next day they announced a 12 hour hiatus "to cool the market down", when it seems they were really installing their SSDs.

MtGox speak with forked tongue. Bad MtGox.

Oops. A little late with Thursday's candle.



Not as tall as some people expected, but tall nonetheless.

Back to green for Friday?

I pity the fool who fears gray candles!



There's nothing wrong with red candles as long as there are some accompanying green candles. That's a chance for a speculative profit.

There's nothing wrong with all green candles if you're a hoarder. Your investment simply grows.

There's nothing wrong with gray candles if you truly believe in Bitcoin and want price stability.

    

bam

Here we are a full day after the SD coin release and still no big dump except for the pre-release panic sell, mostly in 2 chunks.

It seems the SD shareholders were not in as big a rush to buy fiat as some people so desperately hoped.

As I grind my coffee, I see the same low-volume hovering around 90 as this time yesterday.

Strange how prices actually started to creep up when the coin release started at noon UTC and dipped a little after it was done. So much for the Great Satoshi Dice BTC Selloff.

I guess they did throw a party and nobody came.

nice little buy

I saw it as closer to 2.5k for the main buy.

Either way compared to the 11k whale dump a couple of nights ago it's somewhat modest.

It's strange to hear bitlisten to tinkling away without seeing a single dollar amount on any bubble.

Looks like a bubble. 

LOL I hope you're trolling for laughs.

Or do you actually believe that crap, and while you're at it, do you buy advertised "brand name" products and vote for a political party that spends more on some goofy military crap than on important things like public healthcare? Isn't propaganda a wonderful thing?

China obviously loves the "mighty" greenback. Wait until they call their loans.

LOL

_____

I shouldn't laugh too loud. Our spineless Regressive Conservative government isn't much better. Unfortunately the loonie is so tied to the greenback it's almost as worthless.

Funny little wall dance at 96 and change. Up at 96.2 down again soon after and up at 96.5 only to disappear almost immediately.

The 96 wall seems solid though, for now.

What's with the micro-wall that keeps popping up and down every few seconds at 94.04?

Bot gone spastic?

2k wall at 95.

The plot thickens.

95 wall gone again. Whoop dee doo.

1K moved from 95 to 94.5 and joined by additional 1k.

Hmmm.

1k back from 94.5 to 95.

Mini-wall dance on tiptoes? No big strides.

Edit: Quickly joined by other 1k.

Yeah, both are still in nice round numbers. They want to exert a presence but don't want to get their feet wet.

It's the half a buck advances and retreats that are hilarious.

Back to 96, at least momentarily. Big chunk of 96 wall eaten.

Another standoff day? Still lots of day left.

96 was reached with the two 1k 95 walls in place. They've since been removed.

If  it was the obvious, why'd they dick around with $.50 wall moves? The 96 wall was the same regardless.

Seems like a waste of time. Maybe they were just having some weekend fun.

Edit:

Just noticed the page number.

We r teh 1337 postarz.

LOL

If 1337 is leet, 1338 must be one better: uber leet.  

Actually, didn't leetspeak go out with the 20th century? It seems so 2nd millennium, like the "information superhighway".

Now it's 1.6k at 96.5. The dance continues.

Until one whale makes a move or one juicy piece of news hits the media.

The recent candles? When I look at the recent candles, I see green on the days with higher volume and red on the lower-volume days.

Kapow. After days of constipation, we finally have movement.

Bam. 3.5k at 99.

Time to pop more corn.

Damn. Phone rang just as it was getting exciting.

I see the 99 wall is gone. Eaten or moved?

Is the new 1.5k at 97.4 what's left of it?

Lovely Sunday entertainment.

Finally.

To be fair to Blitz, he did qualify his "no triple digits" prediction by saying he meant a sustained price over 100.

It's already dipped back under.

I'll feel more comfortable at 120.

1.3k to try to hold 100.

Just got back to see a big juicy 2.3k sitting on a c-note.

Here we go again?

And for others TA is religion.  

Cool. Astrology, TA, and numerology, all in one thread.

The pseudoscience megathread. 

 

Summer weekend, for most of the world's people.

No clear trend. When something happens this place will wake up.

LOL Wall upped a buck.  

edit: and eaten almost immediately. 

ftfy

A fine day comes to an end at Gox.



Keep this rally rollin'.

Damn. Went to bed early and missed the big whale buy by less than half an hour.

We all knew it was coming (except for maybe Walso/Jaro - "bots on catnip") but I was surprised by the suddenness.

Glad I'm all in. Pissed off that Virtex deposits have gone from taking hours to taking days. I would have scraped together enough to buy a couple of dozen more coins while they were still in the 80s not many hours ago.

1.2k dump at 113.

First sign?

Whichever organization was behind the relentless drive up through the 80s, 90s, and 100s isn't going to allow their hard-won gains to be wiped out.

It doesn't seem to be speculators/daytraders to me. It seems that someone is accumulating a large BTC holding while trying to keep prices in as steady an uptrend as possible.

Could it be someone planning a BTC-based business? What would a large enterprise like for example, Paypal do if it wanted to acquire a large Bitcoin inventory without destabilizing the price?

Then again, wouldn't it make sense for someone like the Wankervoss twins to drive up the value of their existing holding, while accumulating even more coins?

Don't underestimate the disdain that TA devotees feel towards anything not based on traditional stock/commodity-market technical analysis.

The very idea that news might affect a market (even as new and unprecedented a market as BTC) is heresy, an affront to their existing orthodoxy.

 

I guess I'm a bit of a market analysis agnostic. I don't buy into either philosophy wholeheartedly, but try to use both to my advantage.

As for news not affecting Bitcoin, how about the news of the Satoshi Dice sale and payment to shareholders in BTC? Almost immediately the price dropped by over $10 and while the expected great selloff never happened, it took a week to recover. I'd say that news affected the Bitcoin market, albeit only temporarily.

Mini-whale dump part 2.

Here we go again.

Probably beyond. They seem hell-bent on pushing the price steadily higher while amassing a very large holding.

Down trend? LOL

Take a look at the past week. The trend is up.

The slippage from 115 to 111 was probably just a combination of profit taking and correction, and possibly just a nice little bear trap.

Someone has invested too much in the last few weeks to allow a trend reversal.

Bro, you should lighten up a little. You're taking things much too seriously. This is just an internet forum about speculation in Bitcoin, which is just money.

Perhaps you should consume some of the fungi alluded to in your screen name. There are more important things than money and internet forums.

Don't give yourself ulcers.

Edit: I accidentally hit "reply" instead of "quote" but this was obviously directed at Shroomskit.

Holy moley. I thought I was bad, but I guess it depends on the quality of the species and strain.

What we call the "witch makers" will OD the average person with less than 2g and I recommend no more than 0.5g the first time, even for people who do multi-gram doses on a regular basis.

I guess I shouldn't talk though. I once ate 15 large dried peyote buttons (2"-3" diameter, total maybe a quarter pound) all at once, when I was in my twenties. They were cheap then. My buddy bought thousands in Arizona for $0.15 each, smuggled them into Canada strung as beads on "necklaces", and sold them to me for $0.25 each.

Those were the days. Over 40 years ago.

Did you see the 500 coins offered at 112.5 and bought almost immediately?

You're preaching to the choir.

I already talk in satoshis. I like being a multi-billionaire.  

LOL

LOL

I wish. Last time I saw peyote it was ground up, stuffed into a capsule and cost a huge amount for a fraction of a gram. That was close to 20 year ago.

No more 2-bit visits with Mescalito. Pity.

Big letters for big whales.

Buy, whales, buy.

I think someone, probably a mainstream firm, is accumulating a large inventory of bitcoins in a methodical manner, steadily increasing the price without letting it run away, but securely holding each price breakthrough to maintain the value of their holdings.

The pattern has been consistent as the various major ask walls (88, 95, 100, 110, etc) have fallen. Buy through the ask wall, drop a good sized bid wall, let the market run with the uptrend, drop another bid wall, rinse and repeat.

I think it's one major player (probably a company) instigating and maintaining the uptrend to acquire an inventory of bitcoins as cheaply as possible while keeping the price as stable as possible to protect their assets.

Edit: Oops, just got back from the ballpark (Jays beat Bsox in extra innings), had a few beers and posted the quote without a comment (facepalm).

I don't think the MtGox situation has been that big an issue, worldwide, since early July's capitulation. If you look at the pattern of ask-wall busting whale purchases and ensuing bid-walls, they seem to be the work of a single entity. The modus operandi has been consistent through several major ask-wall breakthroughs.

Do you really think someone with the resources to organize such a concerted effort is restricted by some petty exchange difficulties.

It's probably either governmental, corporate or military. It's almost surely not speculators.

This is hilarious. Look at the book.

We don't need an 11k whale buy and 2k wall (like what took us from 94 to triple digits). Half that will do.

We're primed for a major surge up. The whale buyers have been quiet for a couple of days. They have very strong motivation to put the push on soon.

While a 6k injection of fiat would be sufficient, a 10k buy and a 3k bidwall (same outlay as the move from 94) would really smarten up the market and secure previous acquisitions for those who pushed us past 88, 95, 100, 110, etc.

Yee-haw, pass the popcorn.

Great for hoarded coins, but not so good for those trying to get in.

Damn, I'm pissed off at Virtex for changing their deposit policies. Two months ago if I made an anonymous deposit at some bank by 5:00pm local time, I'd be trading by not much later than 6:00pm. Now it takes banking days, and anonymity is questionable.

Screw exchanges. It's time to go to Satoshi Square or use Local BTC. No fees, no banks,  no BS governmental interference. Just decency and honesty.

Luckily, most of my coins are cold-storage hoarded.

I'm curious about the 3k ask at 115.

Will it be pulled when it gets close or will it be left to be eaten?

Yes. It's about time.

Just what the doctor ordered.

We all knew it was coming but why did it take so long?

Happy day.

These are cheap coins.

Unless you expect it to capitulate all the way down to $30-$50.   

Medium whale gulp and bidwall. About half of what it took to break 100 from 94. Pretty predictable. Same modus operandi as was used to smash the other askwalls.

There goes the bidwall. Pulled for now or just ready for relocation?

Edit: LOL Walls a-dancin'.

I thought some people here have all the answers.

 

The wall dance just got better.

Silly little askwall promptly eaten.

Yee haw.

Ahhh,a nice little bidwall to slow slippage. Good.

Next stop, into the 120s.

Meanwhile over at Bitstamp they finally reach triple digits.

It's about time.

Same here, except for ten coins each at Virtex and GoxUSD, with asks at 150 on both exchanges, in case something whacky happens overnight.

I'll revise the orders when we get close. I'm basically a hoarder which is why I follow this song and dance with amusement, while cheering for an uptrend.

I don't nibble at the daily fluctuations. Last time I sold was at 165, last buy was at 97.

I'm waiting for a deposit to go through at Virtex so I can buy a few dozen coins more while the price there is still in double digits.

Life is good.

Hmmm. Smells like we're getting ready for another whalebuy and bidwll.

How soon?

A little bump up

That came after the Dwolla seizures, two days after they busted Liberty Reserve.

Just enough time to talk to his lawyers. 

LOL  

To da capitulashun... $50... no, make that $30.  Why can't they see that this whole triple-digit thing is just a giant bull trap?

Sell, sell, sell...
______

...or not.  

Next rally? This present one's almost sure to go far past 130, depending on the status of MtGox. It's been on a pretty steady upswing for over a month and shows no immediate signs of letting up.

You seem to presume that the "big whale" is a short term speculator, buying to sell and selling to buy, but it might be either a hoarder or someone who has business plans requiring a sizable inventory of coins. There's no evidence that any of these coins acquired in whale buys have come back on the market.

Sure someone's trying to push up the price while steadily acquiring coins. They're trying to protect their investment.

Me too.

I thought this was the game day thread. 

Very pleasant.

Only 300 coins to the wall of Jerico.

Jushua blow your horn.

Edit: One whale dump and that's quadrupled. Still just a small whale away.

Don't put that popcorn away just yet.

One bear whale pushed it down but a whole herd of little bulls responded to the cheaper asks.

Just woke up and checked i286 to see where things were stood and was surprised it was about the same as when I went to bed.

Then the red started flying by and it dipped below 120. My timing is spooky sometimes.

What I noticed last night was that the larger buys were no longer being accompanied by bidwalls to hold the price. Would a nice 1k bidwall at 124 have prevented this slippage? It only took a dump of about 1k to trigger a panic sell all the way down to less than 120 before a small rebound.

Maybe "the" whale had nothing to do with this and is catching his breath before the next jump up, together with a proper bidwall. Why act if others were willing to do it for him?

Interesting times indeed.

Ka-ching.

No bidwall to accompany the buy though.

Edit: I meant no bidwall near the final purchase price. The little wall at 120.4 is too far back to count.

Enough to offset the considerable positive momentum? Or just slow it down a little?

I'm hoping for the latter while I wait for more CAD to reach my Virtex account. It seems that recently a $2 dip on Gox can trigger a $5 drop at VTX.

Do I risk a long wait withdrawing a few grand from Gox after doing arb from VTX? If the wait is less than a couple of months, and the funds are from fiat savings rather than those allocated to BTC, the only way I can lose is for Gox to turn out to be a total scam and never give me back my dollars.

At one point last night the spread was close to 30%. Even if it takes 3 months, that's a good profit that's secure regardless of the price of BTC rising or falling.

Pre-edit: I typed this hours ago but hadn't sent it when I got really busy and left it. I just looked at Virtex and it's jumped by $8.

Damn the new slow deposit  system.

Couple of fresh askwalls... hmmm.

Calm before the storm?

That might depend on the owner of the 125 wall.

Meanwhile, Virtex hit 105, up from 89 less than 3 days ago.

Looks like all the great arbitrage opportunities are closing up.

Should have done that 2 days ago when it was only 300 coins away.

It'll take a concerted bull whale attack, like last weekend, to bite through it now.

Meanwhile, the bull whales are resting, letting the plankton grow.

No Oort cloud? I thought we were so close. 

Ahhh, a little bit of volume, in the right direction.

That depends on the waiting period between buying your fiat and being able to transfer it to another exchange to sell it.

The arbitrageable gap has existed for over a month and fiat withdrawals only take a week.

The only snag is if the price of fiat continues to drop at too fast a pace to maintain a sufficient spread.

If your aim is to acquire more fiat, it's easy. Simply sell high at an exchange with high prices such as Bitstamp or BTC-E, and buy low at MtGox. If the spread is sufficient, a mere week's wait is nothing to earn up to 10% on your investment. Since the sell and re-buy happen within minutes, the chance of the spread closing is negligible. Low risk, decent profit.

I've never deposited nor withdrawn fiat in or out of MtGox myself, but many people recently have been saying that it takes about a week now.

As for selling and re-buying in minutes, assuming you have fiat to sell at Bitstamp, Virtex, BTC-E etc, you can sell it there, transfer your BTC funds to MtGox in generally less than 10 minutes, and repurchase your fiat there immediately.
 
Even if you have to wait a week or two, since the arb happens almost immediately, it's money in the bank since you've already sold and bought and the profit has already been realized. It's only an issue if you're in a hurry for your newly purchased fiat.

Damn. Went to bed early to catch up on sleep after a weekend of partying to find I missed what we'd all been waiting for.

After several days of absence, our hoarder whale friends returned with a vengeance. Nice to see the big bidwall following the giant buy.

Seems whoever called the possibility of a hammer was spot on. Was last week's 125 askwall owned by the same people?

Bingo.

True. They wanted much more than 10k. This was just a single day's acquisition, albeit a big one.

It cost considerably more than the 11k buy on July 28.

It looks like somebody's amassing quite the BTC holding. Who though? Could be anyone from a large corporation like Paypal to small but wealthy long-term investors like the Wankervoss twins.

It's probably not day-traders.

Patience is a virtue. It's still only August 27.

Understatement of the year. 

LOL $30-$50 capitulation here we come. 

Calm before the storm... again.

Next whale buy and bidwall should happen sometime over the weekend or early next week.

Don't you mean bitlisten?

I thought listentobitcoin was bought by malware scammers with trojans.

Nothing that Malwarebytes and Hitmanpro can't take care of.

I don't think the whales who've been driving the price up with well placed large buys and bidwalls are paranoid and trying to get their money out of MtGox, and I don't think they're done yet.

Once again, right on cue, as predictable as dawn.

Whale buy and bidwall right through the existing wall.

The only question is how many times before they reach their quota.

What happened to the Oort Cloud?

The bears push back.

Well, happy new year.

The Oort Cloud?

 

Giving the plankton time to re-grow.

Soon come.

And gone again just like that.

Hmmm. More manipulative hijinks or a quickly corrected mistake? Rogue bot?

I tend to think the whales who pushed us through the landmark askwalls and replaced them with bidwalls will intervene if prices slip too much. I don't think they're done yet. They seen bent on acquiring a lot of coins while driving the price up steadily but not too fast.

I think your $146 coins will be fine. I hope so. I just cancelled an ancient $150 ask I'd placed after buying at $97 last spring following the dead cat bounce. I replaced it with a couple of new asks at $160 and $180 in case it jumps up too fast overnight. My guess is that the next whale move, within a day or two, will bump us into the low 150s.

This rally certainly is the result of manipulation but that doesn't mean the goal is to dump and crash the market.

They seem too careful in not letting the price slip far before pushing it up again and making sure it stays up.

I smell some kind of new enterprise rather than just another trading ploy.

Anyone know how the minimum amount required to qualify for manual processing?

Obviously the whales aren't having any problem moving fiat in and out.

LOL Thought of that myself.

Maybe someone should start a thread/poll about the identity of the whale(s) who have carried this recent rise. I've seen lots of speculation.

Let's see. We could start with:

Winklevoss
Paypal
Rothschild
MtGox
Uncle Sam
Google
etc

The list goes on...

This is starting to remind me of the day before the drive through 125. Keep the price within $5 of the wall, buy up to a buck or so of the base of the wall when the asks fill in but don't drop a big bidwall, and keep refreshing small bidwalls to maintain the $5 spread.

Some people thought it might be a hammer but the 125 wall was eaten, not pulled.

Get ready. I think the next whale move will happen in less than 24 hours.

Thank you for sharing your innermost thoughts with us.

Absolutely. These whales understand TA and surely realize that manipulating it is as important as manipulating the actual price. Manipulating bots is especially important. Humans might smell something fishy but bots will adhere to what they've been programmed to do.

Just got back but it seems I missed more of the same.

Price starts to slip as asks fill in below 150 wall. Whale buys up to near foot of wall but doesn't put up bidwall.

Still waiting. 1k ask adds to fun.

Meanwhile, grass grows and paint dries.

Not surprising. Harsh and polarizing is what trolls aspire to be.

If it was MtGox they'd just be spending their own money while increasing volume. Hmmm.

Flat day at MtGox.



Calm before the storm?

Start - 144

Close - 144

Indeed a rare grey candle.

I think you're right. Unless you count when Gox was down for a couple of days after the 2011 bubble burst.

Wow. Just woke up, saw a .5k askwall on 145, went to the can, came back and it was eaten. Volume back to a trickle again.

Some whale(s) is a control freak.

True. I noticed after posting that the .5k was eaten in two gulps, not one.

I've since made some coffee.

I seem to recall it being higher at some point yesterday but I don't follow it closely, just what's on the i286 Gox page.

I'm more interested in Virtex CAD and MtGox USD since that's where I trade. I never move fiat in or out of MtGox. My accounts are still anonymous except for a second account at Virtex since they started to require verification.

And a good opportunity to buy.

Here we go again. The old wall dance.

I've long wondered if Paypal were considering Bitcoin, not as a medium for eBay transactions, etc., but as a means to facilitate, speed up, and reduce the cost of large internal international transfers, and also as a way to make it easier for customers to add money to their accounts.

I don't use credit cards (don't believe in them) so adding funds to my Paypal account takes a week. I try to keep about $2000 in my account in case I need to buy something in a hurry on eBay or miss out.

If Paypal accepted  bitcoins, you could see an item on eBay, transfer sufficient funds to Paypal in minutes with Bitcoin, and immediately place a bid or execute a buy-it-now. Since your deposit is irreversible, Paypal would have no reason to make you wait a week.

If a Bitcoin deposit option were available I probably would have already used it a dozen times in the past year alone.

Just my 2 satoshis.

The whole downturn was triggered by two 5k-6k dumps while the climb back up was accomplished through many small trades on moderate volume.

I think it's too early to call it either a dead cat bounce or a bear trap.

On a log graph.

Trades are moving through MtGox again but some tickers still aren't working. Both i286 and Clark Moody seem stuck while Bitcointicker and Bitcoincharts seem to be back.

No panic, though. Hmmm.

 

Except simple common sense?

Someone invested a lot of money steadily maintaining the price while accumulating a lot of coins during July and August.

They're not going to let a couple of smallish whale dumps seriously decrease the value of their hoarded stash.

Hence my earlier post of the picture of the big whale eating the smaller whale. You know? The one following the pictures of a beartrap and a bear shorn like a sheep.

I've never put anyone on ignore, no matter how foolish or obnoxious they try to be.

Foolishness and obnoxiousness have long been cornerstones of humor.

 

Yes. I'd thought of that.

My feeling was that they saw the market continue to climb on its own after their last major purchase and took the opportunity to take some profits by selling a moderate number of coins (compared to what they'd bought during the push up), fleecing a few bears, and buying another moderate amount (at a lower rate) to push the price back almost to where it was when they set the trap.

Win-win for them. Eventually we'll find out who they are. My guess is that they're something to do with BTC infrastructure like a new exchange, money transmitter, or both.

Or of course it could be someone like Helu, Gates or the Rothschilds seeing the chance to buy a "controlling interest" while the price is still low.  

I've been saying that for weeks now.

The daily total of all block rewards is only 3600btc (approx, subject to adjustments).

Also, any such purchases wouldn't appear on MtGox totals. Some person or organization has indeed been spending millions of dollars a week through July and August purchasing bitcoins and protecting their investments with bidwalls on MtGox.

It's called a "bot", short for "robot". It's an application or script programmed to trade by proxy on behalf of the programmer.

**sheesh - noobs***

This has actually been happening a lot lately on both buys and sells and both bids and asks.


Mmmm.

Absolutely.

Go for it.

I love how some Americans quote TV commercials.

 

Good thinking.

20k coins sold = bottom of the recent beartrap.

20k coins bought = into the 160s.

Except for the matter of fiat transfers.

The bidwalls at 120 and 121.5 look like they're ready to to be pulled and the funds used to finance a market-buy push past 150, similar to what they did at 135 on August 30.

You had your chance to buy cheap coins when the price was artificially below 130 during the recent beartrap.

Love it. Great entertainment. LOL

 

After systematically pushing the price up for almost two months with well-placed periodic large buys accompanied by immediate bidwalls to prevent slippage, then after letting market inertia carry for a couple of days without intervention, using a couple of 5k-6k dumps to panic the price down by over $20, they spent a similar amount to return it to where it started, buying and hoarding an unknown amount of coins when the price was down below 130.

Not manipulation? This whole market is a manipulation circlejerk.

This is why outdated 19th-century/early-20th-century technical analysis is futile in the world of Bitcoin. It's time to think outside the box or get stuck in the tarpits like dinosaurs.

I earned bitcoins daytrading back in March/April by anticipating dDOS attacks on MtGox. The smart money now is on anticipating whale manipulation.

Of course the smart people don't publicize their predictions, or at least not precisely.

Oops. Sorry if I hit a nerve.

Was it the reference to dinosaurs in the tarpits? Maybe my rhetoric was a little too robust.  

I will stick to my belief that traditional TA, while undoubtedly very useful in assessing traditional stock and commodity markets, has far less relevance with Bitcoin.

Well put.
_________
 
To use a baseball analogy, sabermetrics aren't reliable with a small sample size. Sometimes actual eyeball scouting leads to a better evaluation.

Walls? Are you sure you've got the right thread?

 

You read my mind. We've seen a few of these that don't seem to fit the pattern. If it was someone else though, why the market buy instead of a bid?

Hence no bidwall after the last large buy.

Some people feel the same way about philosophical Bitcoin cultists and technical analysis devotees.  

+1

Have to ask ChartBuddy. I don't see them either.

Do you really think this push up was bought with "fake mtgox$"? More likely with large fiat deposits expedited by paid manual processing.

While the price spread between MtGox and other exchanges remains, it is Gox that sets the trend and the other exchanges tend to follow, whether minnows (who can't afford manual processing) like it or not.

Also, there aren't enough coins available on the other exchanges to fulfill their hoarding requirements without skewing the price too quickly, which they seem to be avoiding. It's not all about driving up the price. It seems to be more about acquiring a large inventory of coins as cheaply as possible while preventing any price slippage to protect the value of their holdings.

Of course the manipulators will do their manipulation on MtGox.

I'm sure they'll manually process any any whale-sized fiat withdrawal for their 5% fee. Money talks.

Bingo.

MtGox's bank account is empty? Bankruptcy is impending? ROFLMAO

Even at the lowest fee rates, these whale buys are putting a lot of money in Gox's deep pockets. Remember that they are getting two fees on each trade, one from the buyer and one from the seller. I'm not sure how much of the 5% manual fiat transfer fee goes to MtGox and how much goes to their bank but MtGox isn't going broke.

Many people ARE withdrawing fiat from MtGox, including (presumably) larger manually processed withdrawals. Only smaller dollar and euro withdrawals seem to be effected.

Dollars on MtGox are as real as any other dollars not backed by gold.

Perhaps everyone should do their homework.

Me too. All my dollars went in through Virtex and when the day comes that I'm forced to make a cash withdrawal, it will probably be through Virtex or Satoshi Square (or Local Bitcoins).

I've always kept a few dozen coins or less in my anonymous USD MtGox account for trading because the price there has traditionally been more volatile.

I noticed this happening on Tuesday during the dDOS attack that shut down MtGox for a few hours. Even when trading resumed and current bids asks and recent trades were shown on MtGox and Bitcoincharts, both i286 and CM were slow to resume. I wondered if it had something to do with their API.

Currently i286 and CM aren't showing recent trades but both Bitcoincharts and Bitcointicker are updating just fine for me. Hmmm.

I was surprised when I first saw LocalBitcoins listed as an exchange on Bitcoincharts.

It isn't really an exchange. It's more like an online Satoshi Square, a place for strangers to meet face-to-face to trade bitcoins and fiat anonymously.

It was my only source for the anonymous purchase of bitcoins last winter before I discovered Virtex. Since Virtex has introduced client identification rules for fiat deposits and withdrawals, it may soon become my principal portal for anonymous bitcoins again. I've since opened a second Virtex account with my name on it, using an email account from a different ISP in a different municipality in Ontario for those times when anonymity is not important.

Needless to say, asks are high, bids are low, and there are usually tighter limits.

I'll bet.

 

I don't want to be a syntax nazi, but Gox isn't poor. Their service is.

 

lawl

 

ROFLMAO

 

hahahahahaha

  

hohohohohoho

 

This thread.

 

OMG What a nightmare. I also thought that my anonymous MtGox account allowed non-verified Bitcoin withdrawals. I've never deposited or withdrawn fiat currency to or from this account and had no intention to do so. I used it for daytrading only.

After reading your post, I got worried that they were lying (once again) and immediately attempted to withdraw my remaining coins to a paper wallet.

Now they won't return my coins without identification and proof of residency. This is totally unacceptable. I feel like they are stealing from me.

I don't drive an automobile or use credit cards (just say no) so I don't have the usual photo ID. I'd rather not change my old red and white non-photo Ontario health card for a photo one because the new ones require renewal every few years. I don't generally carry ID and have no plans to start doing so. I live in a (sort of) free country. Do I have to get a passport just to get my money back?

Luckily there are only about 50 BTC in this account but I still feel like I'm being held for ransom. I also feel like I'm being treated like an American.

Further shame on you MtGox.

Don't get me wrong. 50BTC is certainly more than I intend to lose. The reason I said "only" is that I'm glad the bulk of my coins are elsewhere.

What bugs me is the fact that I'll have to get a passport or provincial age-of-majority card (at the age of 65) just to get back what is mine. This is almost as ridiculous as being IDed at the Skydome to buy a beer when I was 60 years old. At that time I simply went to a different kiosk. This requires a lot more fuss and expense.

When MtGox announced back in May, following the Dwolla and Wells Fargo seizures and Liberty Reserve bust, that they were requiring identification for fiat transfers, they specifically stated that Bitcoin transfers were unaffected so I left my coins there.

Now it seems that they were lying all along. Shame, shame, shame.

I'd love to see ChartBuddy back.

It seems that www.rtcons.com (ChartBuddy) was cut off by NFSN (his ISP). Maybe it was a matter of costing too much to offer a free service. Perhaps if enough people donated a few million satoshis each he'd put it back up.

When Blitz banned him he made it clear that it was only because of the snafu and that the door was open for a return.

ChartBuddy (Richy_T?) are you reading this?

It's not nearly as annoying as the 1btc trollbot.

Bro, you need to get out of your mother's basement and meet some real people, maybe even an actual flesh-and-blood woman (or twink if that's what you prefer). Fantasies of being 1337 traDURRz, Texas Hold'em Online Poker Starz or making it with Porn Bimbos don't cut it in the real world.

Or you could get your bottom ribs removed (ala Marilyn Manson?) so you can bend over far enough to give yourself a blowjob.

You'd probably enjoy doing that.

 

Sorry about that. As soon as I posted I realized I was breaking the cardinal rule, "Don't Feed the Trolls", but JaroWalso can be a hilarious source of humor in a slapstick/buffoon kind of way. That's why I don't have him on ignore.

I also realize that slapstick buffoons can be annoyingly irritating to many people. My apologies.

Yee Haw. Here we go.

No withdrawals for the peasants. Whales get to buy privileged service.

MtGox refers to it as "manual processing" and apparently charges 5% extra for it.

Interesting.

My guess is that manual processing still works for the wealthiest. Obviously 5% of millions is a lot more lucrative than 5% of a few grand.

I think if enough people express their desire to see ChartBuddy unbanned, Blitz will reconsider, unless there's some reason we don't know about.

Absolutely. This is the wall observer thread after all.

Without chartbuddy, it's like a game day thread without the lineups. Oops sorry for the baseball analogy. 

Finally.

Bravo.

Holy Moley.

Open the floodgates.

Happy Thanksgiving.

No internet? Pity. Last night was fun. Seemed to take forever to hit 150, but when it finally did it went with a bang.

Cheers.

I'm glad I bought my BFL 30GH/s SC with CAD (Paypal) instead of BTC last February.

It finally arrived this week. Now hopefully this rally can last long enough to let my miner  pay for itself before parabolic difficulty makes it obsolete. If nothing else, at least I've got a nifty little space heater just in time for the cold weather.

Last March/April I promised myself to learn from 2011 and not panic when the bubble burst, but wait and sell some coins to the dead cat bounce while hoarding the majority. Worked out OK. I sold at 165, bought back at 97 and been hoarding ever since.

Now I'm trying to accumulate as much fiat as I can in my Virtex account without selling any coins, waiting to buy more coins when this next crash happens.

Yep, mine's loud but I've already got "silent" high-airflow replacement fans ready to swap when I finally shut the thing down long enough to to make the switch. At the moment it sounds like a cross between a hair dryer and a vacuum cleaner.

As for getting my money back, I agree it's dicey, but as the BTC price surges upward, so do my daily earnings. Yesterday they were $10, today they're $13 and rising. Still it's a long way to go to pay for the $810 total including shipping, taxes, and border shakedown.

Hibernating.

You're probably too young to know what a broken record sounds like but it kinda just keeps repeating itself, repeating itself, repeating itself...

They seem to have it blocked from VIP**x.eu.

They had the WC, divisional and LCS but no WS.

Pity. It isn't just the USA where it's blacked out, but Canada too. Sucks.

In fact I'm going out to a restaurant/bar to watch the game now. I don't do TV at home but it's never been a problem before. I usually watch all my Jays games online.

I hope this doesn't mean V**box is getting squeezed by MLB, the CIA or DHS. Remember they busted ATDHE the night before the Superbowl a couple of years ago.

I'd love to know if you can find a stream.

Good job. Nice smooth stream.

Hmmm. Looking at the 10 day chart, I see a week-long upward flagpole and a fairly distinct triangular pennant.

Up or down? What do you TA folks think?

Oort. Oort.  

Of course with btc, you never know.

190 could be the new 140 and stall for weeks before continuing up.

168?
 
Oh no.  Bitter capitulation all the way down to 168.

 

Selling bitcoins now?

I'm frantically waiting for a cheque  to clear and get deposited into my Virtex account before the price skyrockets again.

Please, just a few more days at 190, or even lower if possible.

Moar coins please.

Love it. Being a Jays fan, I usually root for whichever AL team is in the WS (this year I would have preferred the Tigers) but there's absolutely no way I'll ever support that worthless bunch of scumbags, the Blosux, perhaps the most hated team in MLB.

The look on the face of the rodent, Pedroiaphile was priceless.

Game 1 was the aberration. Hopefully the Cards will win it at home.

No. Please not yet. Wait a few more days.

If the BTC ATM coming soon to Toronto were there now, I'd be there feeding in $100 bills as we speak, instead of waiting for some silly cheque to clear and then waiting for a deposit to one of my Virtex accounts to go through.

Actually I'd probably be standing in line behind hundreds of other Bitcoiners.

I like that idea, a sort of informal ongoing Satoshi Square.

That's the secret. When I used to play music six nights a week I always had my first beer an hour before showtime followed by a second one and brought my third onstage. I'd end up consuming about a beer per hour after that, which is about the rate the body metabolizes the alcohol.

The result was that I'd stay at that level all night, just loose enough without getting sloppy. I notice this worked for playing pool too. I was more likely to run the table and control the cueball on 2-3 beers than either sober or drunk.

Never though of applying it to Bitcoin trading.

LOL.That was the other part of the system. Absolutely no tokes before or during the show, except for occasionally during the last break, if the audience was won over and very responsive.

The one thing that really helped, if not used too often, were stimulants. Road aspirins we called them.

Any kind of sedative, narcotic, tranquilizer or other downer was definitely counterproductive.

Our "road aspirins" were mostly just dexedrine, preludin, ionamin, etc., commonly prescribed diet pills in their day.

The meth was only for special occasions like stadium shows.

You have to remember though that meth wasn't the same in those days. It was synthesized from phenyl-2-propanone, a darkroom chemical that produced both dextro-rotatory and levo-rotatory methamphetamine. Now it's made from pseudoephedrine, which is sold in the dextro-rotatory form and produces dextro-methamphetamine.

I may joke about kids nowadays not being able to handle their crystal meth, but I do realize today's meth is twice as strong as what we did back then.

You're wise to take a pass.

LOL

Bubblepop?

That's the sound of champagne bottles opening in anticipation of the ATH.

Megabuys? Less than 1k each?

The big sell that triggered last week's beartrap/correction could be called  "mega", not a series of buys of a few hundred coins each.

As for the timing, obviously if someone wanted to buy a bunch of coins and see the price continue to rise, doing it at a distinct wall makes a lot of sense. Wait until the market starts to nibble the wall, buy up the wall at its set price and then let market inertia carry the price up to a handsome profit.

No. It was a fake/manipulator-controlled dump that took us from 230+ down to 175 last week. Of course the market rejected it (except for a few foolish bears who were shorn like sheep) and here we are back to the relentless push upwards.

Damn I hate the new Virtex deposit policy. Last spring if I had my anonymous cash deposits at my choice of banks by 5:00PM, the funds would be in my account in less than an hour and a half, ready for trading. Waiting days is excruciating and runs contrary to everything Bitcoin stands for.

If the price of bitcoins rises from $180 to over $300 while I'm waiting to get a $10k cheque into my Virtex account, I'll be really pist. I thought I was gonna get at least 50 coins.

Last time I checked, DPR wasn't convicted of anything in a court of law. The BTC being held are still his.

Then again, due process doesn't matter much in the land of the free. When I cross the border, they don't ask me if I've ever been convicted of a crime. They ask if I've ever been arrested.

A single coin? Probably. Otherwise he probably would have upped the ante.

Then again it may have been someone who couldn't afford more.

I turned an old friend and his teenage son onto BTC earlier this summer, and when I asked the kid later how he felt about his $94 coins being worth over $140, he was more concerned about how to buy them anonymously than about the current price. I turned him onto LocalBitcoins.

Maybe it was him.  

Cheers. 2 thumbs up.

Yep, especially Virtex.

 

+1

Yep. Crashing through to an ATH.

Another day at Gox with an ATH for a closing.

You tell him.

At least your trolls are semi-amusing.

Silly pup. Kids nowadays.

I'm driven to drink.

With all due respects, some of us find the more creative trolls mildly amusing. Ignore me if you want for quoting them but I'll continue not ignoring anyone, trolls included.

I don't like wearing blinders. Everyone has their opinion, just like other bodily orifices.

LOL

Watch Gox close at another ATH.

Bubblepop? Make mine Dom Perignon.

I prefer, "shorn like sheep".

You're telling me.

I'm still waiting for C$10k to show in my Virtex account after almost 2 weeks (should have certified the cheque before depositing in my bank account).

My hoarded coins are happy but my hopes of adding another 50 coins are getting dimmer. I feel like I'm standing at the station, waiting for the ticket agent to get off his ass, while the train's pulling away.

Big deal. It's like quibbling over $15 vs $20 last winter. Next year anything under $1000 will seem like such a bargain.

Log scale FTW.

Meanwhile at Virtex the magic number is 40.

Currently at 250, ATH at 289.99.

$266? Ho hum.

Party at $1k.

Hey, Blob Ford's not the mayor of Toronto. He's the mayor of Toronto's pathetic suburbs.

He's not a Torontonian. He's a mall-shopping, Escalade-driving, lawn-mowing suburbo-trash peasant.

LOL

I guess my rhetoric can be a little colorful at times, but it really burns to have that clueless imbecile representing my city.

Bubblepop.

267

No quibbling over percentage points now.

Definite ATH.

People who had to wait for their fiat deposits to clear? I'm sure they're not happy having to wait this long.

Oh, for those days when you could take your cash anonymously to the bank and be buying coins an hour later.

My guess is that the 6k askwall and the 1k dump on Gox are profit-taking while trying to maintain the price.

Hope the wall gets eaten, but when the bids start accumulating, buy it down to 160.

I wonder if it was the same whale(s) who steadily pushed up the price during the summer. They bought several dozens of thousands of coins for less than half of today's price.

Wow. I just woke up to take a leak and watched 300 get broken, then 309 and then back down to 280. Now it's pushing 300 again.

I had perhaps 2 hours sleep. I don't know if I can get back to sleep now.

Just added that to my collection of Chartbuddy's greatest hits.

Strange. Both i286 and Bitcoincharts are working fine for me.

Bear? LOL

Where have all the whiny little trollbears gone?

Still waiting for capitulation? "Bubblepop"?

Hiding under their mattresses?

The ask sum at Gox is closing in on 4 digits.

Wow. Running out of coins.

Oh, there you are.

Enjoying your bubblepop?

For the sake of your liver, I hope those are Lite beers, or at least little 6-ounce glasses of draft.

Drink some water in between.  

This chart has long been my beacon of hope during even the darkest days, like during the capitulation in late June.

This isn't a bubble. It's a correction back up to close to where it should be after months of being grossly undervalued.

Time to try to go back to sleep.

It's 6:20AM here and that's past my bedtime. I like to be up at the crack of noon.

Nice little 1.3k boy.

400 gets closer.

420

Let's see. So far we have we have astrology, technical analysis, tea leaf reading, magic 8-ball...

The more the merrier.

Did you even stop to consider that coins worth over $450 now traded for less than $100 in July.

Of course the number of coins per trade will be less than a quarter of what they were last summer.

I know you desperately want the price to go down but you should try to be more realistic. Wishful bear thinking will get you nowhere.

Walls? We don't need no steenking Wals.

Cool real-time graphic of bitcoin movement:

http://static3.businessinsider.com/image/5288c45fecad04ed70d3d97f/gifanimation.gif

Sorry, should have posted this link:

http://fiatleak.com/

Here we go again. 600 is getting closer.

Oops passed it while I was typing.

Bitcoin is now worth over ten times what it was during capitulation in early July on Gox.

Wow. Not bad for less than 5 months.

Yee Haw. Popcorn time.

oops 700

850

900

It took 6 minutes from Gox breaking 850 to breaking 900.

Major correction before 1000 or just a quick dip and onward up?

Looks like the market answered that.

I'm waiting for the next Chartbuddy. Should be a keeper.

One of the best hourly charts ever and the image doesn't display.

Any chance of a fix?

Sorry, after a reboot it shows. Firefox was freezing up off and on and becoming unresponsive. Just restarting FF didn't help but rebooting Win7 did the trick.

I guess it's time for a reinstall but I've been lazy about backing up everything and downloading drivers and firmware updates for my PCIe SSD array.

Gotta love Bitcoin.

It drops over $300 within minutes in a flash dump and all it will probably amount to is a long bottom wick on a green candle.

Slowed down the assault on $1000 though.

Another 5k sell takes us down just below 600. A 5k buy takes us up to almost a grand.

Wow. Woke up to see just over 2k total asks and just over $2m bids on Gox according to i286.

Made a pot of coffee and the asks are over 9k and bids are over $11m.

Still, we're just back to where we were yesterday. One of the more interesting days in Bitcoin's short history.

And they're printing more every day.  

He can sell them to me... cheap.

Are you European? Is that comma supposed to be a decimal point?

 

No kidding. Still waiting since October for my fiat to reach Virtex.

In the meantime, I've done okay on the 10 coins I bought OTC last week

Amen. That's why I hoard.

I hope I never have to sell until selling a few thousand satoshis will cover the month's expenses.

Ouch. One of the smartest things I've done was pay for my BFL pre-order with dollars instead of bitcoins.

While I've only mined 0.902btc in the 27 days I've had it, it has almost paid for itself.

Last night it briefly had passed the $810 I paid including shipping, taxes and (ugh) customs brokerage.

Kaboom

Tit for tat. It was less than a third the size of the dump about 12 hours ago.

How long before medical science starts referring to a particular form of insomnia as Satoshi's Syndrome?

Yahoo

LOL

Looks like the poor little teddy bears had their picnic rained on.

We're still above where we were the day before yesterday, even after a series of multimillion-dollar whale dumps.

The market doesn't seem ready to panic just yet.

Back to 700.

I still think it's too early to tell. It could go either way.

Ever since the first bear dump triggered the dip from 900, I've tended towards this being a bear trap though.

+1

Of course not. They're bears. 

Should be an interesting chartbuddy this hour.

I noticed that too.

It's nice to see an increase in forum membership because it's indicative of growing interest, but some of the noobishness can be annoying.

Dayum. I was just about to post the exact same thing.

The only reason I bought a 3D TV was to get a 55" LED/LCD panel with a 240Hz refresh rate for my main computer.

I've been car-free since 1966, job-free since 1976, tobacco-free since 1985, drug-free since 1988, and TV-free since 1997.

Just say no!

Quick. Somebody buy a couple of thousand coins.

It is taking longer to crash to quadruple digits than I originally thought

Work, curse of the drinking class. -Oscar Wilde

Someone's trying really hard to crash the market but most people don't seem to be ready for that.

The wall dance is entertaining though.

For satoshis some day?  

Quit talking to yourself.

When bitcoins cost $80, 2k was considered whale. Multiply by ten.

Like the proverbial broken clock twice a day, this time you were right.

It has been quite a party. They're still dancing.

Bears keep putting up modest askwalls and the bulls keep eating them.

Think of it as education. He did say he likes to teach.

The wall and fall dance continues.

Great entertainment.

I've got other things I should be doing but I can't pull myself away.

Posted on page 1337. Gotta post on page 2600.   

350btc dump and it's like nothing happened.

It's right back in the same range it's been for hours.

Just like clockwork. Look at the new walls.

LOL

Edit: and just like that they're gone.

Bear dump all the way down to $800. lol

LOL

http://www.youtube.com/watch?v=uxFIGWm9M6w

I thought it was apparent even before Gandhi posted the chart.

Some people obviously think we're crashing but that's probably just wishful thinking.

I see it as consolidation, and a great opportunity to buy coins before they go through the roof.

My own wishful thinking is for the price to stall for a couple of weeks until my dollars reach Virtex or even go down below $500 but that's highly unlikely. Hopefully I won't have to pay quadruple digits.

I was promised a crash.

Big bull whale eats little bear whales.

More like: some smart cookie took advantage of the fact that some douches have been foolishly trying to drive the price down by selling too cheaply.

He got to buy cheap.

The average person can still buy lots of satoshis.

When bitcoins are worth $100,000 each, a mere $850 for 100M satoshis will seem as ridiculously cheap as the ten cent bitcoins of 2010.

Yep. We had it last week.

A little comic relief:

http://finance.yahoo.com/blogs/daily-ticker/bitcoin-heading-toward-high-could-1-million-175818638.html

Central casting? The guy's not even a good actor.

Grand

CCMF

Thanks for posting my favorite bubblepop picture.

It's milestones like this that bring back memories.

I remember the feeling of helplessness watching the price double from $15 to $30 and again to $60 (I'm a relative newcomer) while I figured out how to buy them.

Then I remember in April and June having to explain to all the naysayers that Bitcoin wasn't dead and that it was only a matter of time before it would reach $1000.

Funny how bitter memories can turn sweet with time.

Hey. Don't jinx it.

Only the bears.

Everyone having fun yet?

Seems to be forming a nice little pennant on Gox.

Time for another rise?

I think it's hilarious, a Bitcoin infomercial.

 

If we can get the Oprah/Springer audience buying bitcoins, wouldn't that be bullish?

I have to admit it's excruciating though.

I liked the part about "neurological AND nervous system diseases".

It's almost like the "freedom AND liberty" politicians talk about while they increase restrictions.

Meanwhile, Virtex just broke $1000, and ATH.

Who's the author of that quote?

Mils aren't as common in North America as they were when I was a kid in the 1950s. Even then they were used mainly for taxation.

Inflation made them obsolete long ago. With the deflationary nature of Bitcoin, they'll be necessary again, even if it's just as a stepping-stone until we all use satoshis.

One gigasatoshi is now worth about $12,000.00.  

 

Not really.


I don't think most of the world really cares about dollars.

Nobody posted about the fact that BTC reached parity with gold again for a little while.

At the time gox hit 1224.6 Kitco had gold at 1215 with the NY spot at 1224.

That's strange. Here's what I saw.

Oops. I did a refresh and saw Dec4 on the Kitco chart.

Should have double checked. My bad.

Yep, crashed right back up to 1230+  LOL

Absolutely. I think the market is starting to grow up.

Oh noes.

We almost lost 3 days worth of gains.

The sky is falling.

Enjoy your picnic little teddy bears.

LOL

Last chance to buy under $1000.

Don't miss out.

edit- too late