This suspense is killing me!!!

I wanna know what happened at that meeting.. and i wanna know what's happening with the one later today.

That kind of volume as someone pointed out, can only mean one thing or the other..

A. Taking a big(er) position or
B. Dumping and getting out before the shit hits the fan.

I hate being a small guy and not knowing whats going on. Obviously someone does know which way the wind is blowing and they're keeping schtum.

Frustration!. If anyone finds out any related news, can they please let us know? - thank you,

Ok, I found this - looks positive, but it's only really soundbites, not a full report. Still better than nothing!

http://upstart.bizjournals.com/money/loot/2013/08/26/bitcoin-foundation-talks-to-fed-fbi-more.html

Bottom line - “Entrepreneurs who want to get into Bitcoin should dive right in,” said Vessenes, who serves as the organization’s chairman. “Of all the concerns behind starting a company, regulation should be one of the last.”

and -

He described his fellow meeting participants, which also included representatives from the Treasury Department, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the IRS as “positive and open, a bunch of reps from different agencies just wanting to learn about Bitcoin." Adding, "Of course they have concerns but that’s to be expected."

Yeah, i'm sure they have to make some sort of statement on this soon, days / weeks.. (probably days).
Right now, I'm treating this with catious optimism. I mean coupled with those buys this morning and in the absence of official statements, it's left to us to (speculate) put 2+2 together ourselves.
Catiously optimistic.

See, I try and take my own advice. Remain calm, catiously optimistic.. and wait until i hear some solid news resulting from today and yesterdays meetings.. Then i read something like this.. and get all excited again!!

Please forgive such a n00b question.. (but I am a n00b!) --

When i see bid depth like this, quite a bit higher than the ask depth - doesn't this imply the simple priciple of supply and demand.

i.e. -  there is more demand than suppply... ergo, price will rise??

At least that is what i assume, please correct me if i am wrong, and a quick / simple explanation too if possible,

(I admit to eing a n00b, i admit i know very littel, but i also want to learn)

Please forgive such a n00b question.. (but I am a n00b!) --

When i see bid depth like this, quite a bit higher than the ask depth - doesn't this imply the simple priciple of supply and demand.

i.e. -  there is more demand than suppply... ergo, price will rise??

At least that is what i assume, please correct me if i am wrong, and a quick / simple explanation too if possible,

(I admit to eing a n00b, i admit i know very littel, but i also want to learn)
[/quote]

Yes and no.

While the law of supply and demand is certainly the driver behind the Bitcoin price, you have to also consider that a lot of people don't have their coins or USD on the exchange right now and that graph only represents people who have staked their position.

What really changes the price of Bitcoin in these early days are the whales (large BTC holders/wealthy individuals). Once you think you know where things are going, a huge whale will splash in out of nowhere and change everything.

Just look at this recent run-up. Nothing on that graph indicated it, and all that happened was some whale came in and bought up a ton of coins out of nowhere.

Right now the Bid depth does indicate buying pressure and thus a higher price, but there could be someone just waiting to put in a massive sell order, changing the whole game. I find this unlikely though, because the (so far) positive talks with US regulators is a HUGE step in the right direction and brings a lot of confidence.
[/quote]

Cool, thanks for the explanation. At least my fundamentals were nearly right.

I have witnssed the large buys of this week, and 1+1=2 jumped to the conclusion that as a result of these positive meetings on Capitol hill, then someone felt confident enough to make a buy.
However, this may not be the case. It could have been someone ith a large $$ reserve on Gox waiting in the wings, and decided to co.incide their buy if a good outcome was reached by those meetings. (think about it, they couldn't have been at the meeting and 2 hours later hav $1M sitting on Gox ready to buy.. how could that happen?)
So, it was more likely someone that had reserves sitting there waiting for the right time.. Coujld it of been an attempt to drive the price up on the back of confidence coming from hese meetings? That's my hunch anyway.
Probably trying to move the price up before dumping large reserves of BTC at their desired price. Pump and dump.. except it hasn't worked.
But we seem to be more or less stable around $130 (95-96 EUR)
In short, who the hell knows whats going to happen next? but i totally find this all very intruiging.
I'm not a day trader by any means.. I'm buy and hold long. So short term flutuations don't annoy me, but thy definitely interest me.

Then what? Drop, or the whale(s) come in making another splash and we go up?

Excellent point MickeyT2008 - I never thought of that.

In the comments:
Ponzi scheme, scam, etc. etc. I read a lot of poorly informed views on this. Most of them totally wrong of course.
It seems ignorance pervades everywhere. Thier loss i suppose. (Assuming Bitcoin will succeed)

In the article itself.. meh. A couple of points were okay. But it doesn't go out of it'S way to explain it.. and a pretty poor article in my opinion.

I did get a shock when i started bitcoinity this morning and saw Mt.Gox 0.00...

I was like wow.. the world ended (the bitcoin one) and I missed it.

But it turns out it was only scheduled maintenance.. i feel so much better!

I am lucky / cursed.. depends on what way you want to look at it. I'm often so idle at work that I have little else to be doing, except looking at charts and reading on here. It's not my fault if they dont give me enough work to do!!

So is gox back up running again??

no way i'm putting any significant money in something like BTC-E. BTC is already volatile enough, no need to add something as risky as the russian authorities to the equasion lol. So Gox is probably the only choice I have until something else comes along.
[/quote]

Bitstamp??

Doesn't a lot of world trade happen in USD$ as it's the world's reserve currency? It is volatile no? (admittedly not to the same extent)

Weren't you only yesterday saying that you don't want to trade on bitstamp because of the volitility between EUR/USD?

Point is.. trade still happens.. and it will (it has to!) volatillity or not. This is something people in business, especially in this globalised world know about, and generally dislike.
By the time a payment has cleared they have either gained some extra or lost a little extra. This is life.

What if two agents on different sides of the world set their price in btc, and worked in btc. No waiting. No exchange fees, No credit card or banking fees.
What little fluctuation occured, would be offset by the gains of almost zero fees (above).

It is often argued that aas bitcoin gains market share and acceptance that such volatility will even itself out, leading to a more stable value in time.
This further negates the volitility argument.

We're moving up.. break 400$ / ATH in the next 30 min??

Wow. .. just saw 417.. and we have finally broken the €300 barrier on EURgox.. (now 303   )

I know it's bitcoin. I know it'S the honey badger of currencies. I have often been amazed by the madness that is bitcoin..

But that was awesome. The speed of the drop, and the speed of the recovery.. almost like nothing happened!

BITCOIN!!!!!

Stamp is up but is sssssllllllllooooooooooooowwwwwww as hell

Is Stamp just being Goxxed??

OR should that be Stamped??

Was real slow earlier too, now very little trade volume, has it goxxed itself?

What was the question??

Cup and handle pattern on Gox and btcchina (and to a lesser extent Stamp)

Price is rising. Could be the end of this consolidation phase.. or drawing near to it.

$575 gox $530 Stamp.. up up UP!!

I feel the relief!!!

And.. might I also add.. WOW-WEEEEeeeee----


GO BITCOIN!!!!!

That will happen today i think. Possibly very soon.

4: Bouncing for several hours from wall

Coz, that would be more like Stamp

Yep, just read it. Surprised? No. I've read many like it. Old school establish ecconomists dismissing bitcoin as just another tulip story.. or just another blah blah..
Yeah.. spare me please.

The comments section is even worse. Everytime i read comments on a bitcoin story on the web.. you see the same ill-informed opinion, and the same questions raised again and again.
Though it is hardly surprising that these are questions raised by people who have not done any research into it.

What is it backed by?? Cryptography and maths.

How do we know there will only be 21 Million ever?? Cryptography and maths.

BANG!!!!

$1000 on Stamp!

Munch Munch Munch... $1000 Munched!!

And it's up Up UP!!!

$1010 now.. and nothing really to stop it (if it kept at this rate!)

Yeah.. he'S the old school type, will never get it.. then he will, but won't admit it. Then he will admit it when it is far too late for him.

Anyway.. he almost makes me ashamed to be Irish.

C-r-A-z-Y-ness.. unreal Bitcoin!!!..

Gold Parity coming up. Unreal.

I agree with this. I think there should at least be a link on bitcoinity to switch back. I personally don't like it so much. I looked at the live ticker and thought holy shit, someone just bought 13,000 bitcoins.. .. no, wait.. ah right. Confusing for my poor hungover noodle this morning.
Also, when i looked over and saw a volume spike on Dec 1-2 for 50 Million.. i was also like.. whoah.. that's a lot... no.. wait a min.  

Would be nice to at least have the option for the old way too.

Thanks. 

fiat leak.. here you go..

http://fiatleak.com/

Bwaahaha..   

Nah.. seriously.. i was glad to have work to do today, because it was pretty boring in truth.

Nah..  it was eaten surely? SOmeone bought 550 in one chunk.

Did someboday sell themselves (a lot of) their own coins for $1500??

HODL!!!  sorry.. couldn't resist! 

I hope you paid for that donkey with BTC!

I'd say next 5 hours!!

+1 - this was one catalyst for it.

Not quite yet hopefully! Waiting for my transfer through to Bearstamp.. hopefully there in the morning.

This taken from the french thing going on now? I'm at work, so can't exactly watch it. Glued to this thread for my updates.

I speculate that it might be (just might be) newegg... time will tell.

Not sure. I think it's what you would call market sentiment. Anyone clued up on bitcoin, or that has been following it for at least a while, knows that the China question is like the elephant in the room.
I think a lot of people, me included are hodling off to see how that plays out.

I agree that it is ridiculous that so much importance is given to China and what will/will not happen there.
For me, China is just one aspect of it. I wasn't convinced that the bubble pop had fully played out, and still expected up to re-visit ~$500 on stamp before rebounding and moving back up.
So, i'm taking a patient wait and see approach. It will be interesting to observe the market around 31st.. and the first week or so of Feb. I've got my fiat waiting on stamp to take advantage.

I think it's a waiting game, but at least we know it's only another week (or two) to wait. Not an indefinite wait. The market will give up clues as to what it'S decided and people will act. I personally would LOVE to see a dip to anywhere between $450 - $650.. i have been waiting.. but i like everone else will decide in early Feb, when the market does!

I think this could take ~ 2 weeks to play out. 2 weeks from today is 7th Feb.
I'm finding it hard to be patient and wait til then to see what happens, but i must. Damn nearly bought at 800 last night.
I expect to see it botto out somewhere in the range $500 - $600 but only temporarily. It should recover quickly, so one would have to be fast to catch the bottom - or pick you price and place you orders, and hope for the best.

+1

$495 - $550 on Stamp i reckon is the bottom.
Then quickly recover and climb to previous ATH within 2 weeks.. and keep going!
~$2000 by start of March!

Hpmmm.. just my own observations. Inciddenty, i have been expecting this since the beginning of the year. I think there is money sitting on the sidelines, and people seem to be waiting to see what happens in China on the 31st.
Market seemed to be kept artificially high by trading bots.. keeping it high in order to dump??
These are just some of the indicators i'm going by.
These and a healthy dose of wishful thinknig.

Anway.. looks to be rebounding now. Support at ~$776

In a way i agree with you. It may not even drop that low and if it does it won't stay there for very long. Might not even see $600.
And anything below this is a bit of wishful thinking on my part.

I'm not looking for short term profit either. I have money waiting on stamp, and i'm trying to get as many coins as possible for this money. More coins the better in the long term. So this is why i'm willing it to go down a bit more. Greed on my part, i'll admit, but not short term greed. I Just want more coins, cheaper prices means more coins.

Huh.. yeah exactly. I was reading this and my irlfriend came in and said 'Uh-oh.. what he's saying is bad for bitcoin'.. before i politely pointed out that he is from a bank (JP Morgan?) and if he's saying bitcoin = bad.. then this means the oppositte. This is exacly what i'd expect him to say.. and that whatever he says about bitcoin, then she can believe the opposite.

Bit off topic.. but i know this thread get's plenty of attention, so cheekily i'm posting here.
It's a link to another thread i posted, it's the story of a man who lost his sight through Glaucoma 5 years ago, and is attempting to fight a legal battle in Ireland for the right to have medical marijuana..

if you feel curious, please check it out. I've been in contact with him and have since set up a address to help aid his cause, legal fees and so on..

sure go on.. have a wee look -> https://bitcointalk.org/index.php?topic=431596.new#new

*Edit: donation wallet address -> 1PYX5YDpjGbHxSsn7yaq9kkUuL7tF7NiAf

Falling wedge = bullish pattern.

Well, in traditional charts anyway.. buut this is BTCitcoin

There has been a suspicious lack of Dinosaur patterns on the charts of late...

I like Dinosaurs!!!

stoners of washington, unite and save us!!!

Hehehehe- that comment made my morning!! 

Hats off to you sir!

We're going to rally methinks. i can see us getting to around 760-770 in next 48hrs. Wishful thinking?? probably..

oops.. i cursed it 

Do you want the FUD version, or the truth??

http://www.reddit.com/r/Bitcoin/comments/1x93tf/some_irc_chatter_about_what_is_going_on_at_mtgox/cf99yac


Gox uses custom software for it'S wallets. It's just that they made a mess of implementing it.

I am not personally concerned— at least not by any of the details here. MtGox's slow speed at resolving these sorts of issues and poor communications are not terribly inspiring. They seem to be horribly short staffed— but competent and trustworthy people in this space may be hard to find: The regulatory morass of that business is sure to make many steer clear.
The claims that the delays indicate insolvency strike me as just hysteria: the technical background doesn't support this conclusion, and there may be a bit of opportunism at play from people who want to manipulate the market too. Don't get me wrong: I have not seen their books: Gox may well have financial problems— though with their income its hard for me to see how— but if any problems like that exist they're not being indicated here.
Of course, none of this suggests anyone should be happy with the service MtGox has been providing, but our anger should at least be well informed.

If i were you, i'd wait.. closer to 400 is the trend line.. so we may see a dip below this, maybe not.

Looks like a recovery.. or bull trap? i don'T know.. who wanted $100 coins??

I know what you are saying.. but IMO if it were to evolve to the point where it was in a position to do this, then it would be far less subceptable to these kinds of crashes and fluctuations.

Evil - Gox?

Damnit.. i trust Stamp.. don't want them to become tainted as well.

I think if this was the case, it would be wholly irresponsible not to announce it first...

Cos, you know, cause panic on purpose without thinking it through first = Bad.

I'm not sure who could be behind this, but it is obviously someone who doesn't like bitcoin, and wants to scare people off.

There is also a large scale spamming of the blockchain going on.

This is someone with (i would guess) considerable resources.

Or like suggested above, trying to cause another drop to scoop up more cheap coins.

HODL!!!!

https://www.cryptocoincharts.info/v2/markets/graphicalComparison

Holy shit!!

Ok.. CCMF.. better now??

Then just HODL...

On what chart 1hr? 4hr? i can see it on all charts, just a matter of timing.. triangle closing soon.. anytime in the next 10-11 hours i guess.
Will be interesting to see if it does kick up or what.

Exactly, denial is not just some river in Africa.. and how do you know 'most of the people' see it as a ponzi /pyramid scheme. How can you say you know what most people think?

I say, people who think this are mis-informed or just don't understand Bitcoin.
Anyway, I've no wish to even get into a debate with you. I've read the last 30 or so pages through today.. there is absolutely no point in getting into it with you.

https://www.bitquick.co/bitquick-co-updates-api-to-show-proof-of-transparency-we-believe-in-making-bitcoin-trading-safe-and-simple

..step in the right direction...

NSA trying to spread FUD obviously.. trying to discredit XBT

Both are possible.. but i'd say $700 a lot more probable.
We haven't really gone below 650 (ish) recently.. apart from on spike down to 633 or so..

Me too.. and i hate posting me too posts. But in this case, i'm in the same boat.. i also had a gox account (that i never used cos i never verified) and got none of these phishing mails.

"consciously resist chaos elephant"

I think that is in ALL our minds!!! hahaha.. love that. (where is the meme for this?)

Haha! 

Is it because Gox is going to be liquidated as their application for bankruptcy protection was thrown out - i.e. no chance of being saved. (Ok chances were infinitesimal anyway.. but still)

 

This is a good point, that often gets overlooked (I know some on here have previously, raised this)

So, with increased BTC retail sales comes increased numbers of BTC being immediately sold for fiat at market, creating downward pressure?

(Inversely, would we be going up without wider merchant adoption??)

At some point, will come the tipping point, where this downwards pressure cannot contain the upwards pressure, Then we will see the next rally.

As an aside, and as a bit of speculation, i can see sideways movement until around the end of May.

This is based on Tera's charts above, and my own (amateur) reading of the tea leaves charts.

Very cool. I like it. It's logical.

'when banks were closed' - does this imply the banking ban has worked, nobody can get money in, and whats left sloshiing around is money already on the exchange?
Sorry, i try to keep up.. but you know how it is. So where are we actually at with China?

The ban has worked and these 3rd party charge cards were the loophole for a while... does this new low volume mean that's been chopped too?

Ah Schtopppp will ya??... have a look outside, and if it's a nice day, go for a walk or something.. go outside, get away from the computer...

Single digits? Good man. Coz Gox? Good man. Markets priced gox in ages ago.. Dead exchange.. dead, gone, done.

485 in ~ 3 hours...

Exactly - China is the boy who cried wolf. Sorted. Now let's move on.

Lovely.. two idiots trying to outsmart each other.

Well, it makes my afternoon a little less boring.

I think he meant 1% either side.. anyways...

Personally, i don't blame him per se.. it always seems to be everyone else taking shots at him and he rightly defending himself.
Sees to be a game for some people on here.. what they're trying to achieve though is anyone's guess. Cause him to lose face perhaps? It seems childish.

Nearly at pre-dump prcie already..  ~$2

+1,000

Adoption can take off all over the world but if it does not take off in China

IF it takes off all over the world.. then the Chinese government, despite their efforts won't be able to stop people.
The great Firewall of Chine people.. it couldn't stop the internet.. sure it made it less straightforward.. but if people want something.. then their government sure as hell won't be able to stop them. So.. if it 'takes off all over the world' - there'll be nobody left behind.. everyone will want some regardless of what their government tells them.

I would tend to agree.. and whoever said.. i think that might be their plan.. could also be correct.
It just looks like a continued and ongoing fudge attempt. I'm still long term bull.. in fact more than ever.
I expect all sorts of roadblocks and fireworks along the way.. but make no mistake.. this is happening.
I am convinced that we've already passed the tipping point.. the point of no return. There is just far too much momentum behind this thing.
It won't be stopped. It can't be stopped. The genie is out of the bottle.
Even China.. i think most here would agree.. for all their efforts.. they are only slowing the progress a bit. If it's 1 year..2 years or 5 years.. long term it's not so important.
It's just a delaying tactic to buy time while they scratch their collective heads and try to counter this.. problem is.. they can't and don't know how.
Roadblocks and delaying tactics will only work for so long.
The game has already changed.

I just re-read this...  i think there is a more than 50% chance i might still be dunk.. apologies for the rambling! cheers..

Begins Tomorrow!?

Now that is a surprise!

On a friday too.. it might not be such a quiet weekend afterall!

I think I broke my record for fatest ignore with this idiot. Try not to rise to the bait.. you may be unknowingly providing some sick amusement. Find the ignore button and use it. Please don't repost or quote him.. and don't feed the troll. Thank you.

I hate making prediction.. as i am usually always wrong.. but it's nice to watch a few buy pushing the price in the right direction.
Refreshing even!

Keep it up! I wanna see $600 by the w/e...

I'm not telling you to buy or sell..

I think this IS a/the breakout.
More confirmations required to confirm reversal. We need to stay above $550 in my opinion for reversal confirmation.
Though it would appear the downtrend is in fact broken.

A better time to buy would have been at $400-$430..

If momentum continues right through June.. we'll e over $600 by then. So, ask yourself.. what is the entry point you are looking for?

I love this place.. "That's my advice" --> Don't listen to it!

Looks like we'll soon find out!

Not sure, but there has been a few 'walls' pulled today already. (from reading this thread)

When you say here.. you mean???

Does this look like a Head and Shoulders forming to anyone else? and does this mean the downtrend is in reversal.. does this imply up from here??



Interested to hear other views.. To me, following the breakout, and going north of 500, this is yet another confirmation of a reversal.
All bullish signals.

EDIT: I'm not expecting rally speed up.. but a nice drift gradually upwards would be nice for now.. interspersed with a few legs up here and there as more take the plunge or get fiat to exchanges.

As you can see, i pulled it from bitcoinity, it covers 24hrs..

Here is the corresponding image from wisdom, over 12 hrs.. it still looks like it could be H&S forming..



EDIT.. So, we talking yet?? 

Ok, inverse = bullish.. regular = bearish.

Thanks for all your answers. I did suspect that i was looking at too short a timescale, but you never know.. (fractals of) patterns can appear on almost any timescale you care to look, so i just threw it out there.

Thanks again for your informative replies.

KOTOR  - Kings Of The Online Rodeo??? No, seriously, what does KOTOR mean, please??

Ah.. OK! I knew it rang a bell.. that Star Wars MMOG one, right? gotit

This sounds..    ...wrong!

Because, usually a rising wedge is a bearish signal, whereas a falling wedge is taken as a bullish signal.

10 am EST i predict the $550.. let's see.

EDIT: $560

Meanwhile.. i think there is a cup and handle forming.. Meaning a rise to  ~$540 ... then slight fall back to around $535 or so.. before going up to about $555-$560 by around 10 am EST.

If you've notice i have a lot of ~ and made liberal use of the word 'around' that's because i'm only speculating.
Let's see how it plays out though.

I did read this today.. but I also saw it for myself. I saw one yesterday which behaved more or less as i expected it to, except it OVERSHOT my price prediction.. I thought ~536 - but it went as far as 541. This is why i thought i'd make a fun prediction today, see what happens. I'm not saying I'll be right, it's just for my own fun.

You're right.. it should drop more, i expect around $10 dollars in this case.. but not so much as $35 drop.
I'm basing this of my observation of yesterdays pattern. Which of course doesn't mean today's will be the same.. this cup has deeper 'sides'.. so.

You Sir, get 5 Gold Stars!!

That image will be used for generations to teach what a pump and dump looks like...

Why wouldn't you start your own scamcoin? It's the ultimate 'get rich quick' if it succeeds for the short time needed.

Haha! OK.. i took it serious, didn't know

Another fucking comedian.. welcome to ignore, troll.

Poll at top of page says he's wrong. Hivemind and all that...

Back working properly for me too!

I don't see why not. And don't worry, the Irish will follow whatever happens in Britain, eventually. Well that is the normal order of things, and I say that as an Irishman myself. Unsless an EU directive is released that changes that. Anyway.. you'd be right about the loophole, but i don't think they'll be THAT stupid (but it's Ireland, so ya never know!) i think eventually they'll come up with a bill copying Britain and call it virtual currency or cryptocurrency act or something. Until then, keep it small, and no one will know.
Unless you are self employed and do your own taxes, in which case you'd be liable for an audit if the DID suspect anything.
Otherwise, keep it small, and fly under the rada and they will never know.

Shit man, what a bummer.

Sharex?? never heard of them. I think the lesson is to only use exchanges with a reputation and a good trading history.. Bitstamp, Kraken
And don't store much on them.

There was a similar story of some dodgy exchange in Singapore this week too..

I ignore these fools..

Bubble? are you serious??

No way one pool should have all that power..they should split it up into 2 or more pools.

D'yaknow.. you can add an 'r' in mooncoin to make moroncoin... true story!

 

Disclamerr: i didn't trade anything i was busy..but this just made me laugh

A great glossary for all of these terms can be found at investopedia

It really helped me out when i started reading here.. in fact if you highlight a term you read in here that you are unsure of, right click and search google, it usually comes up with investopedia first result.

+1  - At least somebody has been paying attention.

Off topic - like everything else on this thread... but relative nonetheless.

It's an article from last December from BI - with an economics professor who has clearly no idea about bitcoin, thrashing bitcoin.

It's funny how wrong he was.. and also I wonder is he still spewing FUD - or has he moved on to talking about something else he has no fucking idea about? Anyone know? Is he  a paid shill or what?

http://www.businessinsider.com/williams-bitcoin-meltdown-10-2013-12

i think i know to whom you refer.. but he is hardly a super bear, is he?

Niice buy on Stamp!!

Man, I never wanted to be a phone so bad!!

So... stock up ladies and gents.

Ouch.. so between 3rd week last Nov til middle of last Dec?

Humpty Dumpty had a great dump..

And then the price began to fall..

Humpty you Bastard, you'll ruin it for us all..

In short, i don't think much of Humpty fucking Dumpty at all...

Yes it is unleashing a huge stash of the Winklevoss' coins.. but NOT TO MARKET. Only to customers of the ETF. = No effect on the market.
Not until the sell all shares and need more coins to satisfy demand,, will we see an effect.
At least, that is my take on it anyway. I stand to be correct if wrong.

Morning! No problem staying strong... !!!

Has anyone been following the #coinsummit tweets from coindesk over the last few days??

Bullish as fuck I say.. even if that is not currently reflected in the market.

Their state of bitcoin report is also very interesting ICYMI -> http://www.coindesk.com/state-of-bitcoin-q2-2014-report-expanding-bitcoin-economy/

I know, i know.. of course they are all going to say bitcoin is great.. but it IS!

The figures speak for themselves...

Funny.. I woke up this morning and had the same feeling. Actually, I was thinking to myself.. it's been hovering around here for a while.. maybe ~ $600 is the new floor.. the new ~$100 where it was last year. Maybe I'm going to look back in one year from now (or even 6 months) and think, why oh why didn't i stock up then.. so i bought what i could today.. waiting for next paycheck at end of the month and buying more. I hope the price doesn't go up too much in the meantime.

Cool chart bro. Hope i can accumulate as much as possible before take off.. considering giving up beer for a while (I said CONSIDERING!!! ..and anyway.. i don't think it will be that long now)

Meh.. it's all Legaleese.. which i don't do a very good job of reading!

So.. is it Bullish or not??

I skim read it..  literally skimmed over most of it.. seems like the current laws of KYC and anti laundering just applied to bitcoin and put into a document..  probably looks a lot like banking regulations.
Nothing earth shatteringly new in it, just an enshrining of already familiar practices into a regulatory framework document.

I can't see any red-herrings or red flags jumping out at me.. am i missing something?

Overall, as expected... regulations for exchanges and bitcoin orientated financial services..standard and expected..  I'd take this as bullish, as bitcoin is now official. Coupled with CA's stance on it too.. coast to coast america has endorsed bitcoin. Now it's up to the rest of your states to copy them, get a uniform playing field across America.. and get some decent exchanges set up.
Wall St. ... are you ready???

CCMF!

Yeah but.. most proper exchanges do this anyway.

..Had a conversation last weekend with an otherwise very intelligent guy. He also thinks bitcoin is a ponzi and a scam..
We talked about the concept on money and ponzi's.. i didn't convince him of anything.. nor did he convince me of anything.. (his arguments were nothing i haven't heard before anyway)
At least he had heard of it and some opinions on it.. even if i thought they were wrong.

I don't waste time on people like this.. it's not my job to change their minds.. but maybe like you, we can revisit the topic in another 1/2 year.. and might have a different conversation.

Don't do it! do those 5g of dried mushrooms you mentioned earlier instead

just like the market, eh?

big Green dildo spotted - CCMF!!

Wow. Patient AND Shrewd. Not exactly your common visitor to these boards.

And 500 broken on Stamp.

Nice to see green candles again..

*grabs popcorn*

Bullish pennant there?

(i dunno, i just thought i'd add some wall observing)

Look to your left then!

Yeah, obviously, by looking at the picture, there are no walls to be seen.

I still see a bullish pennant though..

Where you seeing 697?? do you mean $497 ??

Then that makes sense.

 

Welcome.. that's the funniest thing i've read here for a long time!

I hope they vote for independence anyway - and it possibly could see an uptick in bitcoin activity in Scotland as a result. (I said possibly)

What it is more likely to do, is kick off a wave of movements towards independence in a lot of other countries all around the world.

And any one of these events could have an impact on bitcoin.. we don't know yet.

Western Union?
MPesa (do the have this in Indonesia yet?)
Maigical Beans?
Pay Pal?

Digital Tulip bulbs?

or.. digital crypto whatchamacallits...

Sorry.. falling wedge.. i just don't see it. Perhaps a nice chart with a picture of a dinosaur or similar would help me to see it?

Edit: Serious TA calls for dino charts

C'mon now mr.piggles - what would this place be if it wasn't for a bit of arguing?

What? Nah, I did this in April.

Just kidding.  On a more serious note, the development side has not really done a lot this year.. (that I'm aware of) Adoption is comping along too.
Imagine this time last year that i told you that companies like pay-pal, dell, dish, overstock.com etc. would all be accepting bitcoins by this time 2014 and the price was actually going down, and not up would you have believed me?

Imagine i told you that circle would be open worldwide, coinbase expands into europe and that people are actually taking bitcoin seriously and not writing it off, would you have believed me?

Or even if i told you that the Bank of England published a report where they clearly show they understand advances afforded by blockchain and crypto tech and bitcoin in general, would you have believed me?

A year ago, most of the companies or institutions i mentioned above all said bitcoin is not important, a nice little experiment for geeks but it will soon go away.

I wouldn't have believed me either. But this is where we are, yet the price still goes down.

So.. a 1200btc dump on Stamp moves hte price down 3 dolla - and bitcoin is done???

You just spouting the same crap over and over-- who gives a shit about college degrees?

You are wrong anyway.. welcome to ignore falllling.

So.. because i don't listen to you, bitcoin is going down?
Good chap.

^^^This

Aaaannndd up we go on Stamp...

It couldn't just wait another couple of hours for my fiat to hit stamp...

touched 370 - will be above it shortly...

Sorry, I have not come across that, can you link to it please? I'd love to take a read of it.

You spelled HODL wrong...

Apparently Fidor are coming to the UK also!

This is the same bank that in Germany has dealt with bitcoin customers for about 2 years...



https://www.fidorbank.uk/

https://twitter.com/FidorUK

I wish Ireland had of had the balls to declare their debt odious too.. (which it clearly was) and take the same route Greece is now considering.

Missed my buy at 283 by 1$ or so yesterday - bought at 310 today, sent another 1000 euro to Stamp..
I'm going all in on 300-305 if my funds reach in time to catch the re-trace.
It's all in time, for me.

Good luck, and trade well.

Nice green candle... weekend rally started... Sunday / Monday slight pullback/beartrap.. next week blastoff...

Double bottom on Stamp..

Ok - I think this would be a stupid move by anyone (state etc.) - i think they would be prudent to take a wait and see approach and the lightest of regulation. Treat it as VAT exempt and see what happens.
The last thing a small economy like NZ wants is to scare off potential innovators, the risk of losing out on the 'next big innovation' in finance is too great.
Aren't Australia, despite initial misgivings turning more favourable towards bitcoin?  NZ is bound to follow.

just to answer you.. head on over to coindesk.. they're live blogging it..  i can't guarantee how exciting it is going to be however...

http://www.coindesk.com/live-blog-consensus-2015-as-it-happens/

Also on twitter with the hashtag: #Consensus2015

First time i've seen Maiden quoted on these boards.... it must mean something good!!!!!

You've described politicians quite well there.. but you failed to mention them specifically.

So, you have missed politicians off of your list. In America, the government voted (unanimously, i believe) to allow bitcoin for political and electoral donations.
So that kinda rubber stamps it for anyone...
 

God bless all the random idiots, for they give us entertainment...

Nah.. I've been seeing 'Fullblockalypse' around for a while now...

There is this website, that tracks all the times bitcoin was declared 'dead'..

https://99bitcoins.com/bitcoinobituaries/

This. This is quite some news!!! Legitimacy!!!! (MOAR of it.. and welcome) 

And OpenBazzar launching soon too... bootstrap 2.0 ??

Hmpmmm...

Is that really you Ronaldo? - looking for moar money in do phocha.. I tawt you was already minted you greedy ++++

Chart porn..



Even though i just drew some lines on a chart

I agree too...

While i approve of your anti-state mentality.. it was always that way from day one. AML and KYC were fully implemented by Stamp way back when.

Nice wall observance!

That's some spread....  

http://www.btctrade.com/btc/?lang=en



Seems legit..  


Edit: The list of recent trades is also a good laugh...



again.. seems legit!

Who are btctrade anyway? With figures like these, i wouldn't trust them with a nano-satoshi..

Satoshi steps forward.. or someone claiming to be him anyway.

http://www.bbc.com/news/technology-36168863

You could imagine him changing his tune quickly, if he was really considered/nominated for the Nobel prize.....

Fucking Splendid commentary...


 

A few Satoshi's short of a Block.. the poor lad is smoking the wrong Hash 

I'm looking at tradeblock and it is showing blocks being made with average 4 minutes apart!!
That's crazy.. difficulty is supposed to keep re-targeting for a time of 10 minutes.

That is an unimaginable increase in hashing power to get down from the target of 10 min.
 

https://tradeblock.com/bitcoin/

Astute.

Reality is a bitch dude.

Good lad.. to you bitcoin is JUST a market. Nothing else, right? Not a network, or a protocol, or programmable 'sound money', or digital gold, or any of that shite.
If you'Re not grasping what's going on here.. I don't have time to explain it to you: "Professional Investor" -

BTW - Professional Investor?? that's the worst screen-name I've seen here yet. Again. I don't have time to explain it to you. It just is.

3,200 CNY Incoming?

I meant in the next 10 minutes..

Huobi already back at 3190+ ...this could be about to get interesting...

Legit.

Been down so god damn long.. that it looks like up to me...

Boots = Stiefel

google translate is not 100% dependable..

Plural = die

This is much better..
Anyway..back to wall observing...

Huobi looking like it's ready to go up again.. the flag on the 1Hr is looking complete.

Some breakout that!

Confirmed.

3800 next, then 4000 incoming

Willybot lost his mind! 

^Not for long.. it'S going to go up again shortly.

Huobi 1Hr BBands contracting nicely.. i expect another leg up pretty soon..

It's monday morning in China in ~7:45 Hrs..

Well, you'd know.. so tell us.

Technically right. But suppose i got paid today.. what can i spend my ETH on?? Bitcoin?

It's also not yet near any kind of store of wealth.. and supply is not fixed.. so it's likely to be a poor store of wealth.

r/btc ??

Ok.. hard to tell what the FUD is going on in there.. so I avoid it. But wasn't the 'plan' or according to some 'announcement' that a HF would come NEXT YEAR i.e. 2017
And that HF was 1->2 MB max block size increase...

This was apparently agreed upon to be rolled out NEXT Year.. specifically around July time.. with the caveat 'if there is a demand/need for it'

It was generally agreed to roll out SEGWIT this year.. see how things go and move towards a HF next year.

At least that is how i remember the news coming out.

Too many people with agendas on r/btc and they have become used to taking entrenched positions.

Personally, I think it's too early to start pissing your pants about something that is officially still a year off.. a lot can happen in that time.
Such behaviour is typical of that place.

One person asked a question as to what is the current status of a HF. IMHO that's a shitty question when the world and it's dog knows it was scheduled for next year.
Then a bunch of fools answer, screaming like kids.. core this.. blah blah..  aren't you fucking sick of it?
They probably don'T even own a significant number of bitcoins. Just like flaming and causing trouble.

Good lad... keep it up! Buy ALL THE BITCOINS!!!!

Oh Yeah...

Green candle time again...

4000+ --- Incoming.

I called it too soon...

I've seen this chart pattern before, repeating itself... it's sideways for a few more hours then move..up or down.

The BTCitcoin prayer.. Amen.



Amen.

So... the opposite will happen.. Dump Monday.. buy Tuesday.

Touche Tera.. 'I'm just here to troll..'

-- Cos if there is one thing this place NEEDS above all else and apart from a new sheriff and a few other things, it is more trolls..

But what it needs so bad are honest to goodness, proper take-none-o-yo-shit rebuttals in here..

Mr. Sig. Campaign... I'm calling you out...

The mother of all trades is coming up..the top then drop--- catch a falling knife - rebound- sell, repeat then HODL...

wait for the second bubble.. repeat...

Boats.

http://www.imf.org/external/pubs/ft/fandd/2016/06/adriano.htm

The IMF ladies and gentlemen. Internet of Trust.

They still banging on about blockchain being the underlying and interesting technology while not grasping that you need a 'native token' i.e. bitcoin to use it.

You can build your own blockchain.. then you have an altcoin. but it's not going to be as secure as the bitcoin network.

People are saying it's going to be less than $1000.. I think anyone who said that is right.

The last 24 hours were critical, the next 24 hours are criticaller.

The next 24 are always the criticallest, of course!

Exciting isn't it?

I just love the smell of green candles in the morning...

The $10Billion market cap point will be surpassed shortly..

We're moving up again..

Enjoy your Sunday!

Also..for those interested in wider economics - Friday say a record day in the bond market. Govt. bonds. People investors want out of the $10 TRILLION collapsing cess-pit.

Monday could see similar moves.. domino effect could mean it all escalates very very quickly indeed.

On the btc side of things... MSM will start it's usual dumb-as-fuck reporting of the btc moves over the weekend and fomo should drive another spike this week.

All factors considered - this could also escalate very very quickly.

For these reasons, i don't think the rise will stop either. Also, halvening on the horizon..

This is Gentlemen, exciting times!  

The last 24 hours were critical but the next 24 hours are criticaller! TM


Oh yeah BTCaby...

This is all Mat's fault... 

Are we going to form the biggest cup and saucer in history before the mega supper bubble??

Those are less than symbols. Top of the poll says less than 1000 if you ask me.

We either moon now or in December.

I say we stay in range 650-750 til DecNovember then MOON..

That is what my random lines on a chart is telling me.

IF Dec(Nov) then good.. big triangle ends then. Basically we do a fractal of Jan-May..then big breakout.

A nice long consolidation..buy weekly and dips.

hahaha.. pumping bitcoin, me?


all i'm saying is -big triangle til nov-dec-jan - that's clear to see looking at the charts..

(OK: Get your tin-foil hat on: also fits in with Nov US elections + inauguration time-frame..)

Anything else,? Aliens?


we're filling in that triangle til nov-dec.. plenty of time to buy...

buy small amounts weekly no matter what..10-20-50-60 $ a week every week. and if you can afford it, if you got extra, under 650 is still good long term.. but cheapest i see it going is 550-580.. you might get lucky, you might not (price won't stay there long!). 600-650 is a good range.

This is my advice.

Are we repeating 2013?

Does the June rise look fractally similar to April 2013? (also the course of the chart since that high look similar to me)

Have we got 2-3 months before real fireworks?

I think the chances of this are high. Load up as much as you can.

I wouldn't discount it...

I'm not going to bother going through all the trouble of posting my voodoo charts with strange lines and such...

But zoom out and looking at the bigger picture.. timeframe fit's nicely. Happy christmas.

I posted something similar a few days ago. In short, it looks similar enough to me.

No real pullback until 5000 / 737.. ish..

Then reset some indicators and continue on. $780 target - then 850..

I'd be happy to consolidate there for a while.. 1-2 months.. then steam on in Jan-Feb..

Ok Sherriff... you tell people who and who cannot use the blockchain..

We're gonna need a bigger chart. - Captain Quint.

2017: I will be mostly eating FOMO Popcorn.

Time to get the FOMO Popcorn in!!!

I'd just like to say here, that it looks to me like bullish flag pattern (since 5am CET) is coming to a close, accross all exchanges. But especially in China.

This pattern is due to complete at between 12 - 14:00 CET

This means, according to my tealeaves, that we are geting ready for the next leg up. IMO, anytime in the next 2 hours or so we should move up again.

Exciting times.

Possibly the best thing I've ever read on this thread. Funny and true..

Well, head and shoulders chart pattern complete... resume uptrend. And.. that's what looks to be happening.

We'll be back over 900 next week. Could see 1000 fall in 2016 yet!

Which moon are we heading for here??? Europa? Titan?

8000

OKCoin touched CNY 6955..

CNY 6955 = $1000!!!

Mere buzzwords..so they can blather on about bitcoin without actually mentioning that dirty word..'bitcoin'...

This whole blockchain not bitcoin meme is a load of hot air, you do know that right?

You cannot have a "blockchain" or "distributed ledger technology" without a native token, everyone here knows this, right?

How are you going to make entries into your distributed ledger? With Cats?? Or just by magic??

Can't have one without the other, simple as. So, they can call it whatever they like, all while trying to avoid using certain words but they're only fooling themselves.

Or wilfully trying to delude themselves...or, they just actually don't effing get it.

Andreas Antonopolous made a nice analogy..I'm paraphrasing here:

Horse and cart is the existing technology...
Someone invents a motorcar!

'Blockchain not bitcoin' minded people say: Wow.. we really like this pnematic tyre technology you guys have come up with and want to adapt this for our horse and carts. But we really don't see any potential for the motorcar as a whole.. we are only interested in hte underlying technology of the pneumatic tyres!  

Back on topic: There is no word yet on a possible ETF decision date. Some commentators believing the SEC could kick it down the road as long as possible. Other voices reckon it will happen soon.
The most recent news, are that COIN ETF got a logo, back at start of Dec. and the twins were again 'talking up' bitcoin, also early Dec.

EDIT: Beaten to it.. !

And probably will remain so for a while yet, or until it is obvious to even the most ardent opposer that it will come to pass this way, whether they like it or not (which is irrelevant btw)
Something about a permissionless distributed ledger (let's call it that) in that the permissionless part don't give s shit if you like it or not.. or if you like the name or label..etc.etc.

Read a brilliant tweet in recent weeks, can't seem to find it now, so again paraphrasing:

Bitcoin was invented because banks didn't trust one another.
Then they went and built R3 to prove it!

Without getting into the nuts and bolts, the whole project is a mess of mistrust..it looks destined to fail.

The tweeter was none other than Vinny Lingham.

I love a good old fashioned shake out of the weak hands...

Sell now when you have the chance! Quick, panic, sell... it'll NEVER go higher...

Meh...

In fairness though, that is some pretty good dumbage...

Last chance to buy under $1000 :p

 

I'm just waiting for the next fresh round of bitcoin obituaries..and the claws to come out...

Then we can go up again..

Wailing and gnashing of teeth makes bitcoin rise..

This will get salty.

Ok, Lets not freak out just yet...

Just a couple of weeks ago.. I saw the BTC market cap (i hate that term!) pass the old ATH 13,6B

Then it passed 14,15,16, (then the hit articles started coming) 17, 17.5 - touching Gold now.. passing it.. 18 Bn.. 18. something billion....
then a correction.
All so fast..

Then back at 16.75 now.

What's the problem again?

I'm bullish as hell and can see it bouncing around 900-1100 range for the next 1-3 months. (or it could Moon next week or two)
I would have no problem with that. I was happy when we were sitting at 750.. This is from the supply shock from halving.
This is supposed to happen.
The higher we float while we consolidate here.. then whopeee.
14B or 18B - i don't care.. so long as transaction# and hash rate and difficulty are rising.. its all good.
Price is a side effect. Buy cheap as you can, by all means.
Long term 4-8 years (2x block reward halving events) if it's all still working..if you can hodl on that long..
Then its a binary thing..

Give me Moon or give me hell...

Long shake out is right...

It shows how thinly overall this market really is.. but we know this.. this is bitcoin.

Sadly i'd no fresh fiat waiting.. but my girlfriend did!!!.. at €950 and €850..
She did well.. I could only sit at work watching red candles growing longer.. coins locked up at home.

And now? <insert meme of woman crying here> my bitcoins are only worth what they were worth 4 days ago (after a good rise)...

oh well.. based on this..

how much you sellin' popcorn for?


*Don't worry..2017 shall be the year that i'll be munching on FOMO Popcorn..
off to a good start, so far i'd say..

Someone with much better skills than me, please make a meme out of

"dumbing for dummies...

   ..a guide for normies"

2nd bite,., Do you know why there are two 100BTC transactions going to this wallet? Why is it significant? Old coins moving?
A campaign of some sort? A dev fund?

What is it, man? Tell us!!!!

Ah right... thought i was missing out on some salacious happenings somewhere (I almost certainly am, but not here it seems)

Heard this one the other day....

twitler

 

I lol'ed..

Gone full retard apparently.. COIN not approved (insiders?) EDIT: I'm speculating here.. i know nothing either!

CO-ordinated dump? Who knows anymore...

I'm not exactly sure, but i thought the dump seemed to be initiated from the west. I was watching Bitstamp at the time, and it started dropping first.. OKCoin followed afterwards.

Or i could be talking complete bollocks..

I just caught that think about the PBoC meeting and so on. I don't think it's any reason to worry. Still, not nice seeing sudden downward moves like that!

I think it's just the usual "sell the news" reaction.. we'll be back climbing inside next 24 hrs or so. $1100 & €1000 in next 72 hrs. Lets see.

I've just compared OKCOin and Stamp on a 1min chart.. move started in West first

And from what I'm looking at Finex went ahead of Stamp.. Stamp followed, China followed that.. because by that stage we were seeing big red dildos all over.

Looks to me like it started at Finex.

Not that I'm a defender of BTC-E or anything.. but i went and read your thread.. then their FAQ's.. seems like if you read them..
When you make a wire transfer which your post said you've done.. they put your acc 'on hold' for 1 month.

They're not doing anything other than what they said in their FAQ's.. its sucky.. but its there in black and white.

Yeah, I replied on your own thread.

I mis-interpreted that as being scans as evidence of the wire transfer, not the usual KYC/AML stuff... id, proof of address etc.

Sorry guys, this is all my fault.
You see, I couldn't help myself today and bought €50 worth.
That was this morning..
Now look at it.
Sorry.

But Searing.. it does work like it's supposed to.

 

Personally i don't care about ETF.

There, i said it.

I don't see the importance you guys are giving this decision on the 11th March. It'll probably get rejected but who gives a shit? Honneybadger doesn't.

If it passes, great.. money will flow in from investors + funds who had been hiterto unable to invest in bitcoin. And it's an indirect investement.

At the same time, if it is rejected.. what does that change? It doesn't fundamentally change a thing in bitcoin land.

OK. So some traders gamblers might see it as bad news and short, to try and frontrun an anticipated drop.

It changes nothing. So any drop will be shortlived IMO. I don't see it going under $1000 but it could. In the worst case scenario.. around $910.

Anyone saying 500 is on crack.
600 - 700? Crack.

I think we can take out the ATH with or without an ETF.. hell i think we can take it out before Mar11..

Next stop after that is ~$1500

Ok, rant over. Time for more coffee.

EDIT: TL;DR - I only care about bitcoin. I don't care one way or the other for ETF in March (they will come eventually anyway) Bitcoin will be a success in the long term with or without ETF's.

Its almost 5pm here in EU - I finish work in 12 minutes (prob. less when this is posted)

I wanna try and get home as quick as possible, grab myself a beer and watch that ATH being passed. I may even doobie celebrate.

Just, please, for the love of god bitcoin, don't do anything too rash for the next half hour!! PLeeeeezeeee!!!

EDIT: The next 24 minutes are CRITICAL!!!!

I read this article the other day.. my opinion of it? Its basically a big steaming pile of horseshit.
He reckons bitcoin is at a binary crossroads waiting for news of the ETF - Extrapolated further. the very survival of bitcoin depends on ETF approval?

And then he finishes by saying: "The digital currency's future has never been this binary. Unlike with programming code, though, one of the two alternatives isn't zero: It's a deeply negative number."

You can pay heed to this article if you like.. but my immediate thoughts after reading it were: idiot.

Gold is $1241 per Oz

BTC is @ $1234.56 on Stamp...

WE are sitting above the price of Gold per Oz and marginally over the Mt.Gox ATH..

A good day all round. Gentlemen.

^^^^Ha! 

Always, Always, Always buy the dip!

BTFD!!!!!!

Do we all have BTU's to sell now after that shitshow??

Just wanna know.. if i have.. then that is free money, i can short that and buy BTC with.

Anyone know?

I just want to short it for BTC if i can. Confidence is rightly weak, it's an absolute shitshow of a mess that i was against from the get go.

EDIT: There are a few reputations in tatters after this. People who will never be taken seriously or listened to again. Shown up for what they are: Clueless.

So....


   ..When do you guys reckon we'll see the effects of 'the halvening' kicking in?? //<-'joking'


There's another two 'halvenings' coming in the next 7 years...

http://www.thehalvening.com/

..Just saying like 

Not really, since IBM = Hyperledger.. and is talking about 'blockchain technology' - which is the whole corporate 'blockchain without bitcoin' meme.

Paint a 'bullish flag' here and then on up we go!! (IMHO)

Got a bottle of champagne waiting in the fridge for the last 2 weeks, waiting on $5k

This week? Its looking probable...

Just had a look on coinmarketcap, because i wanted to compare bitcoin market cap to a list of world countries M1 money supply.

Currently sitting above Morocco ($74B) and below Greece ($85B).. but what i noticed is the trading volume.

Apparently, we've crossed over the $2 Billion 24 hour trading volume.  

Not so long ago, i remember crossing over $1B...