I disagree on that. I'm certain all currently ordered miner devices would instantly become unprofitable.

I was talking more about ASIC companies themselves. Can they handle a correction; fabricate and sell at a 50% discount and remain profitable?

$78ish seeks an excellent place to sell those coins, now that you still can

Does anyone else think that it is a little strange and inappropriate for a moderator of a bitcoin forum to be relentlessly campaigning against it?

I come back and I would have figured sentiment would be coming more inline with reality.  But...this is Bitcointalk, where the bottom is right here...no there...wait here....up, up, up....no wait...it's just a correction, let me draw a line on my chart.  Oh snap, even the scammer Tradefortress popped in...must be serious...no, its Bitcoin...it can never die....Satoshi will save us...yeah....to the moon!!!!    

Seriously guys...what does it take for you to realize the severity of this situation?  In the "Hardcore Wall Observer", how many WALLS must be torn through, like the tin foil in your hats, before you stop asking where the bottom is?  Stop trying to justify it or explain it away.  There is no explanation other than this is REAL and it's happening.  Deal with it.  It's not as if you weren't warned...repeatedly.  I've got the ignore button glowing like a Las Vegas Strip club sign, to prove it.   

well i freaked out and sold out at 72.9 like an idiot.

 

On the off chance he is the real thing, I wouldn't bring up his brother Lech, who passed away.

Wail on Jaroslaw all you like but I believe in respecting the dead.  

It will be interesting to see how the US will react to the good news from MtGox. Up or Down? We will find out in about an hour from now.

BFL statement? Jam tomorrow?



 

I feel even more skeptical about it , Wonchi appears to be a travel destinanion quite used for people visisting etiophia and addis , even with a hotel nearby , so this thing about never seen that never seen this appears more unbelievable.


If you continue to do a research you can find more about the guy running the projects , it's failures and it's money management let's not say fraud

My USD cannons are firing. I intend to rocket us past $102, at the least. 

No doubt she reciprocates the pleasures.

Right shoulder is slightly dropped...volume is decreasing...I guess we will see in the next little while.
If it breaks the neckline it will slide down.

Bitcoinwisdom

Hate to say it but I can feel the drop is inevitable....volume is dead, and the neckline is close to being breached.

Bids are very juicy, and for most people it's summer. Time for a nice, long vacation, perhaps on a yacht.

Ninja bear will make sure it goes down!

I love this chart 

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.

plummet

definitely about to plummet

Plummet... to the moon.

I've tried to do that a couple of times, but I can't get off the fucking planet.  It's gravity, defeating me.  So - up or down?

Huge market manipulation is evident, in my opinion, but the game evolves, there are those who have hundreds of thousands of coins, and those who have thousands and hundreds.

Manipulating the market requires effort, and long deep pockets. Those who have the ability to do it have more at stake than just making money, and predicting there moves is a gamble.

Everything that happens here makes Bitcoin more resilient and stronger, so it's best to just go about ones business and ignore the conspiracies.

The price is always the next order of magnitude from where you are now, until you exhaust your energy. Just like our current economic model exhibits parasitic behavior, on our finite planet. Bitcoin is the equivalent parasite to our existing economic parasite.

You win the game of Magic the Gathering when the infection has taken hold, the infection spreads by profiting off speculation (in this thread) and other memes elsewhere. You can always play the immunity card by holding XBT.

No good. You will need a degree in extispicy to unravel his computations

die bulls, die. just die. 

funny, people always tell us about their profits but never about their losses :p

What a magnificent engine this is that a trader can't even put a protective stop loss, not to mention a trailing stop!


unless someone who has experience in exchange / brokerage business finally sets up a quality exchange. If this happens Gox and others will die in 6 months.

I thought they didnt do it for legal reasons

^ I think you answered your own question



In case it's still not clear: http://www.youtube.com/watch?v=NG1qooBzE2w

Panic and sell when it crashes to 150? seriously though....I lost 5 btc day trading and decided never to do it again. Long is the way forward.

What were you doing during this few weeks rise? No usd profit?

If the 233$ peak was wave 5, and we saw the 3 down sub-sub-waves, followed by 2 up sub-sub-waves, of which
the second is much larger than the first, then we should see another 3 down sub-sub-waves.
Those new 3 down don't have to look like the previous 3 down, but if they do, we are on a descending trend.
If they look different, then it's possible to resume an uptrend and reach an ATH.
Right now, we already are in the 4th sub-sub-sub-wave of the second sub-sub-wave, so I expect to go down.
But for now the Chinese keep buying and Gox and other exchanges struggle to follow.
Maybe the Chinese will write a new chapter to the EW theory, exceptions to the rules?

Coinbase buy price is >219, where are they getting them?

Yes. Ready.

I'm not sure why you guys think that is worth posting but you've both earned an ignore.

It is simply poor taste to expect people to laugh at your shitty GIF where literally every second of that people are dying and it was a european tragedy that just happened this year.

Sorry, forget my classic, its was obv too soon
I'll try to find old footage like 19xx so no one little heart / sensibility will be hurt

Idiot, your gif didn't even get the speed right "Judicial authorities earlier said the train was travelling at 192km/h (119mph) on the bend where it derailed."
http://www.bbc.co.uk/news/world-europe-23982566

79 dead - 170 injured, lets have a laugh.

Yeah, I figured this would be the first real resistance this week. Didn't think we would be here on Monday, though.

If we consolidate here, not much stopping us from going to $250. Except $240, lol.

After $250 then its a race to $259, where some real resistance should come in.

After that - blue skies.

They also have an interest in dropping the USD for oil transactions.

They also have an interest in dropping the USD for oil transactions.

I'm still waiting for the single digits we've been promised all year by certain poseurs...

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

Cheers

Thanks, I tried it on my tablet, but it's not connecting to btcchina atm. Seems generally flakey with connections to exchanges, though my tablet is super-cheap and unreliable.

works a charm   

about that fresh money thing on stamp tomorrow...

30 min ago my deposit from friday morning appeared in my account.

XXXX Eur via SEPA

A new way to watch Gox slurp up fiat.  http://fiatleak.com/.

Typical human arrogance.

I hear Satoshi lurks in Speculation still, even occasionally posts under another name.

So, yes, you are.

It helps to sacrifice a goat and send 10% of your holdings to the next address you see though.

Why does everyone think Satoshi is a male...could be a female...I mean, I would like to think so...that's be freakin' awesome!!!

What the hell just happened to bitstamp ??

Well, hold tight, you will probably see $525 soon enough.

Well, hold tight, you will probably see $525 soon enough.

life is too short to be pissed by conspiracy theory, sell all your coins and get off .... you will be happier

I never intuitively understand the market's reason for selling the news, but, it's what it does, and, it's a very good sign of legitimacy IMO and more good things to come. Think of it as a haircut, if that helps. But, yes, we all need to get back to work building out the infrastructure for the financial model that is beating the shit out of fiat.

He can sell them to me... cheap.

Current system: Whales exist, they try to prey on you, when they fail you are forced to bail them out.

Bitcoin system: Whales exist, they try to prey on you.

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

 

My wife wants to spend my coins  

Don't get me started on the wife. Mine shouted at me last night saying 'Was I not aware of the 50/50 strategy?' It was a bit of a wtf moment for me, didn't realize I was married to Michael Douglas.

OMG we're all the way back to /gasp/ 3 whole days ago  


ok imabear I has seen the light, lol

I'm going to get a bitcoin dedicated tattoo I think, something like 'dont try to day-trade your shit at it'. Get it tattood in red across both of my hands so I can read it every time I'm about to make a trade.

Energy use is not something that can be easily deferred, which smooths out demand fluctuations. However, transactions can more easily be structured so that they can deferred at will, making for a choppier demand environment.

You just have to pick the right goddess

<==============

Money hits my exchange
All the bears are in the caves
No 400 dollars coins for lil' ol me?

Eris. Discordianism gives a unique insight into Bitcoin and you'd be surprised how much the law of fives helps with TA.

"My prophet is a fool with his one, one, one..."

I give you license to perfect it ...considering it was born out of my angst of being a day late to grab the cheaper coins.. It sure hurt buying the last on at 619 + fees after seeing the dips over the past week.. Ahh buy and hold.. buy and hold.. remind me to never let the fiat well run dry on the exchanges.. oh shit I gotta make another bill payment before its too late lol

I see, its just that it takes a while to me to understand because i've NEVER been in debt in my life. NEVER.

This is a monstrous fuckup of enormous proportions, if this is true then their "trading engine" is broken beyond repair (it wouldn't even deserve the name "trading engine" anymore) and should be taken down and replaced by something else immediately!

still this. i don't make (public) predictions often but when i do 

Enjoy your life and never look back..
There are many things more important than the possibility of wealth.
And congrats on your house being owned.
May your family once again regain your full attention and may the decisions you made for them never be regretted

Cheers

Yes they have, but I never use them for my personal expenses, I use debit cards. Why I shouldnt use the money I already have, instead of the one that I *might* have in the future? Good to have them in case there is an emergency, but why using them systematically and recurrently? Its plain retarded in my book.

This is very risky, yet the odds seem to be good. For me, going into any sort of debt, or obligation to get BTC (or anything else, which I don't need for immediate survival) is unacceptable, so I wouldn't do it.

I would, however, throw all the free resources, which I can afford to lose without the loss causing financial or emotional damage, at BTC

Alternatively, just treat BTC like an experimental savings account. Keep saving a part of your income in it and ride the choo-choo train!

I have done something similar, I save a few hundred pounds a month and decided instead of saving and buying coins as I go, I would stop saving and take out a loan and put the loan into bitcoin, I just missed the <$150 boat by 3 days otherwise I would have paid off that £10k loan easily. It's cool though, If bitcoin crashes and burns, 10k is something I can handle to repay and learn as a life lesson, especially when the opposite (bitcoin going to da moon) could allow me to retire wealthy within the next 5 years. Risk assessed, accepted, coins purchased.

If you do that you're seriously an idiot. Regardless whether you have a hunch there will be a bitcoin rally, that's something only the biggest idiot would do. You'd beat yourself to death if your plan fails...Maybe people just like to live life on the edge. I like a little risk because traditional investments are too slow for me, so i chose bitcoin. But I'd never take out a loan to invest in something (unless I had insider info or something lol)

If you have a mortgage and put some fiat into Bitcoin, You are essentially not paying off your debt by choice and using that money for high risk bitcoin speculation.
I should think many people fall into this category. Each month you are paying extra interest charges to invest in bitcoin.
It doesn't sound as bad as when you say 'borrowing money to speculate on bitcoin', but essentially it is the same thing.

This loan thing is depending what is the situation. It's dumb to say that investing loaned money is absolutely wrong or that it's right. Many people spend rest of their lives in debt hell and investing some of that to bitcoin might be the way to get rid of that debt. There's risk but you have to calculate those risks based on your situation.

Maybe you can do a 180 curve while digging and get out of that hole.

You don't buy groceries with gold neither.

Better analogy: when you're in a hole, get some explosives. They might blow you to pieces, but maybe real world physics = FPS engine physis and you can rocket jump out of that hole

seriously though, I don't see a difference in principle between not investing more than you can afford and not taking a loan higher than you can afford. If he knows he can repay the loan within tolerable living conditions in case his investment fails, it's not necessarily an irrational choice.

It's a bitcoin tunnel and there's a rainbow at the end =D

Sounds like the centralization of Bitcoin around large mining farms will soon be complete.  Doesn't really sound like anything to be cheering.  

http://www.coindesk.com/virgin-galactic-will-accept-bitcoin-space-travel-says-billionaire-entrepreneur-sir-richard-branson/

I like this bit...."Branson reveals he has already invested in some bitcoins and encourages others to do the same."

Either way you always have to understand why if you want to learn.

All transactions are based on trust.  Since mankind first began bartering.

What if you dug sideways at a gentle upward trajectory?  Or dug out stairs?

Sure you can. Dig on one side of the hole and use the dirt to build something that gets you up on the other side of the hole.

It works on the theory that when that guy borrowed that tool, you actually get it back.

I've come to the conclusion you are just a bull-troll.

Bitcoin won't be used in day to day transactions by regular consumers all the time. It won't be a currency. It's a store of value thing, like gold. 

Nah ... looks more like the end of a bull trap to me, and a pretty predictable one at that

New lows in the  next 2 weeks IMO and months before we see $1000 again

Maybe then people will stop using this childish 'HODLING' word after they get a good SPANKING

Let's go through a number of points how this is going to resolve. First, if you don't mention time frames, your analysis fails already, so I'll crudely break this down into short and long term.

Short term (say, this weekend, plus next week) I see:
a) several relevant short-to-medium term trends are active, among them 6h EMA30 (that performs extremely well in my backtests on recent data). Price remains above that one, as well as the quicker hourly EMA150. For a slightly slower perspective, 1d EMA30, i.e. the 1 month trend line is a focal point: price hovers just above it. I don't want to claim it provides support, not enough volume for that, but we should see if it holds in the next days.
b) bid/ask ratio is going down right now across all exchanges. That's usually a bearish sign, but in combination with a stagnating price, it's less drastic in my experience.
c) by a (relatively) crude method I use, based on a mean of the volume-weighted price of the peak and low of the most recent price swing, we're *right* on top of that mean. Similarly to my point about 1d EMA30, that's leads to a rather unsatisfactory "it could swing either way, but the next days should resolve it one way or the other".

Long term perspective is generally even more difficult to predict. Based on how peak/correction cycles played out historically, I would be extremely surprised if we've already seen the end of the correction. Late January/Early February is more likely based on how previous corrections played out wrt time. Price targets are difficult because it all depends on whether the December 18 low was really the bottom, or just an intermediate step in a larger more forceful downtrend, or alternatively, a long drawn out decline. I still see the possibility that daily SMA100 was active as support on that crash, and the final capitulation will be higher than the low of December 18, but that's not a strong conviction I hold, at best an informed guess.

+1, they'd be more in touch with social trends too, the next meme, vid, etc. could turn into the next hot altcoin overnight. Its worth spending a bit of time on MMO's etc just to see the trading too, there's plenty of 12 year olds out there that would put the most wizened used car dealers to shame

Hahahaha, America... Freedom... HAHAHA  

Free to get shot/detained indefinetly..

Wow!  I can confirm that the price has not reached new ATHs still, and therefore, the crash continues.  This is confirmed.

Realistic calculation. Thanks.

I will.  I have no programming experience, but I won't let that stop me from providing newses to the market.

err ? You mean you think it has odds of one in four thousand six hundred? or do you mean 1 btc should be worth 4,615?

  

Dude. "Rich" and "dumb" are enemies. One can be both things only for a short period of time. And this one is surely rich. On whether he is soon to be poor, that has to be proven.
So far all we know is that he had 5.5 million to spend, and he burned 150k in the process.

... It's much more likely SN is Nick Szabo ...

Plus cows laying down.

NEW ANNOUNCEMENT ON BTER.COM

Even the world's barren, someone your followers,

https://bter.com/article/403

Say what?  I hope that's not a mistranslation of "Even the world's barren, summon your followers"  Run for the Hills!!!

That slides to one side to allow Bitcoin-1 to launch from the concealed heli-pad.

Rua Santa Ifigênia is the traditional "electronics street" of São Paulo, some 5-10 blocks with tiny to medium-sized shops selling from transistors to consumer electronics, with sidewalks lined with street merchant stalls selling all sorts of accessories, cartridges, software, etc.. A large part of it is contraband, pirated, or counterfeit (you can surely find a "legitimate" copy of Photoshop or Autocad there for a few bucks). Once in a while the police raids the place, confiscates a couple of tons of merchandise, gves out fines and maybe some arrests, just to justify their salaries; but that is all "priced in" as you might say.

Some 10-15 years ago a Ph.D. student of mine bought for her project a Sony camera that had a CD burner built-in and recorded images directly on small 3" CD-Rs.  (There was a short time window when that camera made sense, because flash memory cards had about the same capacity as those CD-Rs but were much more expensive.) She was running out of the original supply of CD-Rs, and could not find then in Campinas; so one day we happened to be in São Paulo we thought of checking at Sta. Ifigiênia.

When you buy anything in Brazil the store is supposed to give you a "fiscal note", an official serially numbered receipt, of which they keep a copy.  Those receipts are used by tax auditors to check whether the state sales tax is being paid.  Obviously street merchants and  stores selling contraband don't give no friggin' fiscal notes, especially for a small purchase like a box of blank CDs; but since we were paying with federal grant money we needed the fiscal notes, and moreover we had to pay with a check from the government account.  We had to walk the whole street, asking at half a dozen computer supply shops, until we found a store that had those 3" CD-Rs, accepted the check, and gave us a fiscal note.

While we were walking back, people started shouting "tax inspectors, tax inspectors" all over the place.  In ten minutes (no exaggeration) half the small shops in the entire street closed their doors, and all the sidewalk stalls had been hastily folded and thrown into vans that disappeared from view.   For, you see, they had spotted two odd-looking people entering random shops and asking to buy some trinket with a fiscal note -- what else could they be?

So: don't underestimate.

wow. Didn't expect.

No, don't underestimate the ability of people to completely misunderstand the point of a post.  

(Hint1: it was about how much panic a "totally retarded" post here could cause.)

(Hint2: Consider what happened to the price when Marc claimed that there was a bug in bitcoin.)

Actually they LOVE dirty non-crypto paper fiat money.  They just don't like fiscal notes, and are wary of traceable payment methods like checks or crypto fiat money.  

There are some professors in our public universities who think that they should be privatized, and then charge fees that only the rich could pay.  But they stand no chance of prevailing, because that would require a change in the Constitution which was written by a popular Assembly, and would have to go through Congress whose members elected by the people would not risk their voters' wrath by doing that.  On the contrary, politicians who improve and expand public education have had a big advantage in elections.

Guess what: most intelligent people understand that government and public services are a good thing, and that taxes are necessary to have them.  Even if each man would rather pay no taxes himslelf, usually he wants other people to pay taxes, votes for candidates who are in favor of taxes in general, and has no sympathy at all for those who try to evade taxes, no matter how technolgically clever are their tricks.  It is the tax evaders, not the government, who are stealing from the (tax-paying) people.

Well, I believe that my work as teacher, as bad as it is, is infinitely more productive than running internet gambling sites, writing computer games, and many other "private industry" things. 

And, by the way, I did work in industry too (during my undergrad years, and after my Ph.D.) And industry did fund some of my research.

Just like in the US, the opposition party loves to blast the current government for overtaxing and wasting money.  Only to do even worse when they get to power.   

When they were in power, those neocons who set up the "impostômetro" created a huge public debt by borrowing money at 40% interest per year or more.  Even today, 12 years after they lost the national government, more than half of all the tax revenue goes to pay interest on that debt, which only keeps growing.  (THAT is real armed robbery, because if the government tried to reject that debt, even with popular support, it would probably be toppled in short time.)  Still, "taxing Dilma" stands a good chance of winning a second term, with support not only from the lower- and middle-class "parasites" but from business people in general.

I speculate subconsciously there are algorithms at play, if you read enough and take note of the diapering posts, you get a feel for the magic maths that makes bitcoin work.
 

Yes, why would anybody mess up with the entity that has more firepower than the rest of the world combined..

But wait a minute, they must be very unbelievably scared of us. How else would they need so many weapons. I don't have any, because I am right.

No real broker will do this.

something feels odd about this picture, not sure what it is.

Trains don't have horns!

I am in the UK and it works for me

A public auction is the normal way to liquidate the assets of a failed company.  Any other method (such as selling them in the open market, or to a private buyer) would expose the liquidator to charges of favoritism, incompetent trading, etc..  That also holds for the coins that the FBI seized from SilkRoad.

The FBI will use their government auction staff, but the MtGOX liquidator will probably hire some private auctioning firm.  Presumably they will divide the coins into a couple dozen lots, each auctioned separately, in order to attract more buyers.  Other than that, I don't expect them to worry much about getting the best possible price.

The people who will buy those coins at the auction will then dispose of them according to their interest. 

By the way, I suppose that the prices off-market for "bulk" trades are not much different from the open market price.  If the off-market price was much lower, there would be people buying bitcoins in bulk off-market to sell them little by little on the open market.
Conversely, if the off-market price was much higher.   Is this correct?

That belief is certainly the goal which the present psyop against Bitcoin is attempting to achieve.

Yeah ok i get it, but why is it critical? trollers with no explanationary power?

if there is some a big move into bitcoin in greece, say this time next year 10% of greek pop uses bitcoin and its accepted everywhere in greece we could very well see 32,000$ in less than 2 years. 10% of greece's pop is ~1 million poeple, assuming these 1million poeple hodl a 500$ balances in bitcoin we're looking at half a billion dollars pumped into bitcoin, but it won't stop there, having a real world economy use bitcoin is going to improve investor confidence, and i could easily see 10-20billion get pumped into bitcoin as a result, but it won't stop there, economies will crash around the world one by one, and seeing how greeks all got rich off of using bitcoin, they will all want to do the same thing, the decentralization of world domination is well under way! but it won't stop there aliens will come down from the heavens and buy bitcoin.

no blocks should propagate to and from any dimension seamlessly, the 1MB limit might be more of an issue tho as multidimensional bandwidth is slightly more costly. greeks won't care, they'll be all be rich as fuck.