Math was made by man

Price will come back 670 today

BTC is continuing to hold pretty steady, the rest of the coins are on like a slow slippage...they seem to be losing value by the day, little by little...

Typically BTC is there to pull the rest of the coins up, but lately when there are price rallies, it is BTC only...

C'mon tae fuck guys....this is easy TA:



That is from Bitstamp and I will just take this opportunity to state that what the other charts are doing is irrelevant. Bitstamp is where all the liquidity is and the exchange the whales trust the most. No leveraged trading on Stamp, no insider Stop Loss farming (using fake volume to trigger orders) on Stamp which skews the charts and the indicators. What is happening is a bear flag scenario. We are currently in the 4th drive of that flag with momentum indicators on lower time frames starting to look a bit maxed out with the expected signs of bearish divergences as might be expected from such a low volume rise, punctuated with some bear dropping 500 BTC bombs into Bid Wall. We will likely correct back a bit from here, before rallying again to get up and meet trendline, at which point the 4th swing will have completed, and we will be looking at going back down to test support and on the next occasion, probably break through it to find lower lows.

This has been my prognosis since the before the break down. This is why I went short on what will be my last ever BFX short trade at $600, only to have my stop farmed by the exchange in final 'Fuck You' rally to $615, where spot price stayed on Bitfinex for 2 seconds, before being back down at $600 within the hour. Bitcoinsrus contacted me by PM when we were breaking $580 a couple of days ago. I told him that $580 would be a good short, but I didn't think we were going to be putting in any brutal low. I advised my m8 yesterday to take a position at $560, which I believed would be good until about $585-$590. So I have been calling things pretty good recently so how much dosh have I made?

Let me see, -$150 on Short Trade due to both getting my Stop triggered and then further swindled by exchange front running Ask wall and pushing my Stop order up $8 per BTC.
and then -$30 Bitstamp fees on long I entered at $560, and then left at $560 after 500 BTC dropping whale gave me cold feet.

I have been calling market pretty well and only lost around $200!

Hooray for being a Shit trader! (my mate made a few pennies though)

Is there something astrological that explains why people here are being so angry of recent?

Friday, June 27
Be sensitive and step lightly.

Nearly everyone will have more sensitive feelings due to the New Moon in Cancer which becomes exact in the heavens at 3:08 am early Friday morning.

A positive Moon Neptune trine at 6:53 am kicks on the green lights for work or play on Friday.

Be open to compromise as the Moon opposes Pluto at 4:39 pm. Clear skies follow until the Moon squares unpredictable Uranus at 12:16 am early Saturday morning.

More trouble follows even as the Moon trines Saturn at 1:48 am and Luna then squares Mars at 2:19am. Don’t make any promises tonight.

Let times change.

Well, I took a piece of paper and rammed it real hard up my ass. Just as you asked, I noticed a tickle around my butt. Sure thing, the answer was out. However, that was for $635. $650 is only 12.4106%.

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no, the US is much more open-minded when it comes to innovation and new opportunities than europe

We need to squeeze those longs, free some money up.

is this a Fonzie I see before me?

I don't have a chart, but today's number is $596.  I am predicting today is a shakeout candle (daily action breaks the support/trend line, but finishes the day above the line; i.e. candle body above trend, wick crosses trend).  That would be a very bullish sign, and we would jump back up.

And still a lot of BTC longs on bitfinex... don't think will happen (not much market participation), but if we turn into panic mode this cold be the biggest long squeeze in BTC history 

Anybody else think we double bottom here?

Just hodl, if you feel compelled to sell its probably too late

It went above 600$ in less than 1 day, i guess it was just a minor crash. Maybe bitcoins will rise soon, there were some news on 24.7. if i'm right but now i can't find it again what it was about,  can somebody please let me know if that was the reason for crash?

Any thoughts on what BTC might do when the U.S. announces that it is in a technical recession coming this Wednesday? Anybody think this could possibly move the dial or only in theory?

The Report points out that those bots (Willy/Markus) have bought a total of about 650000 BTC over that time. Sometimes they didn't even spend money for those trades. These 650000 BTC (plus the recovered 200000 BTC) amount to the total amount of Gox's lost 850000 coins. So maybe those 650000 BTC never existed? Maybe they were stolen and Gox tried to buy them from the customers for fake FIAT. The bots were constantly buying in a way that made it almost impossible for the price to go down! Couldn't this be a very valid reason for a bubble?

This user is currently ignored.

This user is currently ignored.

Ok, i'm back all in. After all that panic buying and selling i'm left with less than 1 coin

Anyway, back to 600!

Mott street and 11th Ave and Mulberry street in early 1900's

The world is going to change more in the next 25-50 years... than it did in the past 100 years.....

are we ready?

Bitcoins.

Money of the future?

People will laugh at how quaint it was, and at how many trees had to die, to carry around bits of paper money in folded carry cases made from the hides of dead livestock.

Coming to a reality to you soon.

Unless you are old or unlucky - then you may miss out.....  try not to...

Future looks bright.

BTC = Bitcoin = Because that's consensus

 

(If you want you could replace the word Bitcoin with "cryptocurrency") Point remains... bits of paper inside bits of folded over cow... are not too long for this world in the grand scheme of things)

So  I'm thinking either a 20 point buy bump  or another 580 retest in the next 2 hours?  Which way?  I lean bump,  but it's hard to say.

adam is too busy digging up his "hodl" coins from his backyard and trying to remember the BIP38 password so he can sell.

Honestly, I think we can look at something like doge to get an idea of bitcoin's future from this point forward. Doge is like bitcoin on fast forward. We'll probably go several years from here just steadily bleeding down, until we hit <$100. From there, maybe we start all over again and go up?

Not a bad article, http://cointelegraph.com/news/112259/op-ed-is-bitcoin-ready-for-the-major-leagues

Interesting part:

A Death by Trading

One of the primary causes for price instability in commodities is the amount of trading and speculation that goes on. Particular groups try to corner certain markets by buying a great deal of the commodity, thereby driving up the price that consumers pay at the market. There is no real reason why Bitcoin cannot fall into the same trap as we get closer to the last mined coin. The above examples of people trying to corner the market are extreme examples. But even regular trading has a sometimes horrid effect on commodities as is evidenced by speculation in the energy industry.

The only way to prevent this from happening is to keep Bitcoin as decentralized as possible and as much of the currency as possible out of the exchanges and in the economy. Money on the trading floor enriches only the traders and owners of the commodity, not the end-consumers or people who buy the final product. Meanwhile, money that continually flows through the economy keeps it healthy and liquid.

Not like day/week traders care, but they are partly responsible for killing or slowing down BTC's success.
To everyone else, spend your coins when you have the option.
If you don't want to lose your amount of BTC, buy back the same amount which you'd otherwise spend in fiat.
Do this until it's not necessary anymore because you get your 'paycheck' in BTC.

As for speculating, the price will rise. You are delusional if you don't see the rapid increase in adoption from serious companies.

Zero, zilch, nada, not going to happen.

$4000 by the end of next year... unlikely but certainly possible.

$4000 by the end of this year... I will ride along the ocean with a magical unicorn on my way to seizing control of the entire universe before that happens. Understand? NO!!! Not .000000000000000000000001% chance.... just ZERO!

I will also do a bet that it won't be at $1,100 by Saturday... I'd rob the same old lady to put as much on that bet as possible. I am actually looking out the window at a coffee shop for potential old ladies to rob at this point. Look what you people are making me become. You are turning me into a monster.

Not a bad article, http://cointelegraph.com/news/112259/op-ed-is-bitcoin-ready-for-the-major-leagues

Interesting part:

A Death by Trading

One of the primary causes for price instability in commodities is the amount of trading and speculation that goes on. Particular groups try to corner certain markets by buying a great deal of the commodity, thereby driving up the price that consumers pay at the market. There is no real reason why Bitcoin cannot fall into the same trap as we get closer to the last mined coin. The above examples of people trying to corner the market are extreme examples. But even regular trading has a sometimes horrid effect on commodities as is evidenced by speculation in the energy industry.

The only way to prevent this from happening is to keep Bitcoin as decentralized as possible and as much of the currency as possible out of the exchanges and in the economy. Money on the trading floor enriches only the traders and owners of the commodity, not the end-consumers or people who buy the final product. Meanwhile, money that continually flows through the economy keeps it healthy and liquid.

Not like day/week traders care, but they are partly responsible for killing or slowing down BTC's success.
To everyone else, spend your coins when you have the option.
If you don't want to lose your amount of BTC, buy back the same amount which you'd otherwise spend in fiat.
Do this until it's not necessary anymore because you get your 'paycheck' in BTC.

As for speculating, the price will rise. You are delusional if you don't see the rapid increase in adoption from serious companies.

I have a fleeting suspicion that the next margin that will be hunted will be LTCs rather than BTCs... I'd imagine more than a few people went long on LTC because they figured its short-term bounce back would be a greater percentage than BTC.

Mozilla is releasing their $30 smart phone throughout India, Africa and other parts of asia, which runs BTC quite well. BTC was never a good idea for rich westerns, credit cards are better for almost all circumstances. The un-banked is where it is for BTC, especially since those cultures know very well not to trust their governments with their money, you think Indians buy gold cause it looks pretty?

Lots of people here seem pretty depressed about BTC at the moment, but if you ask me it is only just starting to find its feet. So you are not all going to be rich enough to retire in the next 6 months. Suck it up, this is not about you.

I heard that... it will be like having a credit card in the phone. Not a big deal. Can't be used to pay people-to-people.

+2

crap, sold and took my money off exchange at 330 before 270 dip....


i'm an idiot trader--now i'm sending fiat back for a loss.

anyone think this might be a bull trap so I don't feel so foolish...?

That's windjc

bad points

Stop worrying about the freedom of other people, just become free yourselves. You cannot change anything, so stop worrying. Stop trying to convince other people your method or theory of government will work for them, just disentangle yourself from the system you dislike and become free.

I don't know if 377 is exactly right

I don't know if my timing is right.

But I am sure of the direction.  And i am sure 277 was the bottom and I am sure you'll never get to buy at sub 330 again.

You don't have to believe me.

6 Hour MACD green again

1 day shows reversal incoming.

Rally starts here 

I just need to look at this chart to understand we are at a really dangerous point. Fiat bid sum is returning to prebubble levels, while bitcoin supply is quite higher. And it is quite scary while we are approaching to an important key level like $275.

Miners and merchants are drying the exchanges, current prices are not sustainable for a long time. Fiat entries needs to be improved, plus a massive pump event to break all the resistances to bring price to ATH where it can rally again. ETF probably will do this work, but there could be delays until it is up, you know how this things works.
Until that, IMO, bitcoin will keep slowly bleeding, with its ups and downs.

Try harder
https://blockchain.info/de/charts/bitcoin-days-destroyed

Are you thinking what i'm thinking?

tip: plug, tail

 Mtgox didn't loose all those BTC, they were bought with a fake injection of USD from the people who control the paper money system. reality hurts i know.

I'll give my amateurish observations on the matter:

Whale #1 was busy all day slowly buying up coins on Stamp. That thinned the already meagre ask side out even more. Then s.o. placed a ~700BTC wall @ $329 on Finex, which scared the market up on both Finex and Stamp. As $330 swiftly broke on Stamp, whale #2 got FOMO and threw ~1mil. in fiat onto the market on Finex. Together with a bunch of shorts closing this caused Finex to go up $10. The price was then driven down slowly by 2000BTC in ask walls (Finex) until they got eaten in one swoop by s.o. going margin long, and got immediately replaced by ~2000 coins worth of bids which have kept us in this price range since then.

So I'd say it's just some big players trying to accumulate while the price is still (perceived by them as) low.

I got good feeling about this one: https://www.youtube.com/watch?v=McbCwSW2moo#t=0m19s

Good observation.

One problem with defining trends via points of contact (or similarly, as channels) is that there is usually more than one way to define them that way, and in many cases, breaking out of one of them leads to price staying within the confines of the next (plausible) one.

Doesn't mean the approach is wrong or useless, but that it has to be seen in context. Here's the point I'm trying to make, with sound effects

Man embeds computer chips in hands to store Bitcoin

http://www.telegraph.co.uk/technology/news/11220577/Man-embeds-computer-chips-in-hands-to-store-Bitcoin.html

Well, how big are the interests? They aren't that big right
BTW, I know I look like a fool and I normally wouldn't do this but my gut, heart and brain is telling me to do this, like what am I supposed to do

And shorted at 381!!!

I still feel like this is market noise -- that there is no real driver behind this event and that it won't pick up too much more steam... it'll hit a TA impasse and fall back down. One driver could be Russia, but that doesn't make sense because BTC-e is in the pits vis-ā-vis the other exchanges. It could be the dark market situation, but that also seems to have fizzled already on the alt-coin side. So, I think it's just a run for a runs sake. That doesn't, however, mean that it can't go on. It just means that it probably shouldn't.

Ripple annoying spam

This is how I would expect the bitcoin price to move if it were to die a slow death...

You mean free bitcoin with every nintendo device you buy ?

People purchased based upon the expectation of the great news from coinbase.

The fact that a FDIC insured and regulated exchange in the US with over 1million usable accounts to start has opened with 0 trading fees instead of 1% like before is a big deal. The fact that we will be able to use coinbase to set limit orders and trade at 0-0.25% instead of 1% is a big deal. The fact that no other exchange offers FDIC for usd balances is a big deal.

Where are the likes of TERA? I miss her realism. Would be nice to know how she sees the market now. And MatTheCat. Casualties of a bear market

4 hours for the monday pump and counting

Just like the movie Margin Call with Kevin Spacey and that guy who played the old scientist in back to the future.

this is how you close your expensive longs.

it's a bitcoin classic.

When we broke the uptrend on the 1w chart, I reversed my expectations from bullish to bearish. I agree with you that everything can happen. It the trend stay bearish and the pathner since the ATH continues, then we should see a new low at 100-120ish. In general and in the long term, I believe in Bitcoin, so I am always bullish on Bitcoin (atleast until something better comes, if ever), but since ATH, the market have been bearish and it could continue.

It just crashed by one cent from 224 to 223.99 on finex, so you might be in for a long wait. The wild price swings seem to have fizzled out for the moment.

Like Dogecoin, Monero or any other shitcoin.

"May soon" -  "Expected" - "Very likely"

If true bullish indeed but call me skeptical. Let me know when it's actually HAPPENING.

hoarding is very different from arbing.  Arbing (arbing BTC prices and using LTC as a money transfer between exchanges)  would't move up the price of LTC (only very slightly), as it would get sold again on the other exchange after a few minutes.

When are we going to shut down lambies new accounts (!!pop and yolalanda, in case you missed it)?

Nope , not an error with the conversion rate. That gap is real. It's totally fucked up and weird , but it's real. Don't trust me , just check the current CNY USD rate anywhere on the web , then do some basic math , and you can see for yourself it is totally spot on with what bitcoinwisdom is showing. My guess is , traders on finex stamp coinbase etc at this point collectively do not trust the huobi okcoin btcchina etc rates to not be artificially inflated , and so they're actively buffering the price with a ~$20-30 gap at the moment. That , or traders are anticipating a severe devaluation of the CNY in the next couple days and are unwilling to risk any amount of time being in CNY instead of USD or EUR , therefore arbitrage is not happening at a high enough volume to bring the exchanges into line with one another. Still , it's totally nuts that arbitragers haven't brought the interexchange rates into sync by now.

Easy, because everyone wants to buy "at the bottom", so the bottom comes and sits there for an entire year while they look at the screen and say, "hmm seems pretty stable here, looks like the bottom is in, but I think i'll wait and see if there's a flash crash, then I'll buy some then".  Then the train starts to leave without them and they realize they're a fucking idiot.

That and shorters are good at keeping the price from moving...until they fail and lose everything:

my plan

sell @3200  USD

all in @2200 USD

seriously

anyone miss shrooms? maybe he'd have been happy for once

Really? Price go down 10 bucks and you are panicking? Give me your coins weak hand

Anyone with a bit of a deeper network and cryptography knowledge care to comment on this technical proposal:

https://bitcoinmagazine.com/articles/bitcoin-ng-or-how-cornell-researchers-think-a-radical-redesign-can-solve-bitcoin-s-scaling-issues-1447108649

Basic idea seems to be to decouple proof of work blocks from transactions blocks (while keeping the two connected, obviously), without the usual trade off that means more tx -> bigger blocks.

Looks plausible to me, and actually a lot less "radical" than, say, turning Bitcoin into a proof-of-stake system. That said, I don't have sufficient technical knowledge to judge if it only appears plausible at a glance or if there's a catch I don't see right now.

(... he asked on the Wall Observer thread, thinking "What could possibly go wrong?")

The real geniuses are those who think that price will go up for no reason.

After the break at 500, it was almost obvious that price will return to mean - 250 or so.

Increased level of bitcoin adoption leads to increased level of trading volume. It is absolutely logical.

1 full bitcoin (1.0 BTC) is as scarce as 12kg of above ground gold. The price will readjust itself in the long run to reflect this. I'm not saying it will go to the value of 12kg gold, but price has to adjust to accommodate the scarcity factor.

Lol @  isn't a gambling site! TA of bitcoin is sadder than TA of shooting craps. Yah, gots me ah Cray crunching slots data, with upgraded sciences and a new bleep-blooper with flashing lights, serious shit! Gonna make me some serious scratch, baby!

@marcus_of_ridiculous: Bitcoin is totally not gambling, you're right. It's just a coincidence that the premiere bitcoin forum has 5 gambling subs, one specifically for promoting ponzis. And also this sub, for closeted gamblers in denial, who like to pretend that they're not degenerate gamblers at all, but actually intrepid investors

Well no, not true, the possibility of bitcoin blowing up before the halving is also priced in. As is China banning bitcoins tomorrow, or NSA cracking crypto, or Satoshi coming back and starting dumping his stash etc, etc, etc. This is still a low cap asset so at this stage as we see by high volatility short term events have much greater impact on the price. (Arguably) BTC's future is still uncertain. So everyday that passes where BTC doesn't spontaneously combusts and holds value is another negatively priced event that's chipped off.

ITS NOT RIGGED!

bitcoin is meant to have manipulators sometimes there are more active manipulators then there are fish, who cares. bitcoin has value because its fun to hit buy/sell with a small 50K, program bots to keep the candle up or down for you.. anything goes, it doesn't make sense to regulate market trader activity; is it illegal to wast 1million dollars to trigger stop loses and sell into them?

fair game to me...

just don't play with stop loss orders!

i did that on the way down i tried to play with stop loss orders, i would of done much better by placing simple bid

No, ssmc2. Suicide, literal or financial, is never the answer.

This type of blowup is so common in open source software that its a bit eye roll inducing. Basically as a project becomes more popular it attracts better talent who eventually start stripping out the early contributors crappy but working code and shooting down their ideas. They feel unappreciated and claim 'This isn't the ____ that I used to love!!' and then vanish.

Good for him though if they offered him a ton of money for some banking system shit. You can't expect people to just wait around 10+ years hoping bitcoin takes off and they never have to work again. I just hope his project fails miserably 

Another trade opportunity.

China breaks up $64 billion underground banking: state media

Chinese authorities have uncovered the country's biggest underground banking case involving transactions totalling more than 410 billion yuan ($64 billion), official media reported, part of a drive to combat illegal capital outflows.

The investigation, which started in September and focused on the costal province of Zhejiang, found that dozens of Hong Kong-registered shell companies forged more than 1.3 million fake transactions to transfer money offshore, the official People's Daily reported on Friday.

China started cracking down on underground banks in April and has so far uncovered more than 170 cases of money laundering and illegal fund transfers, involving more than 800 billion yuan ($125.34 billion). The cases come as capital outflows reach hundreds of billions of dollars, triggering alarm in some circles.

A hundred suspects from eight gangs were detained in the latest case, the official Xinhua News Agency said.


http://www.reuters.com/article/2015/11/20/us-china-crackdown-capital-idUSKCN0T906C20151120#7b3rLrqx7s8iE1xh.97


Am I the only one that sees a new BTC pump soon?

Bitcoin dependent alts like ltc, ppc and nmc are basically the bitcoin derivatives that I've been mostly trading. You don't want to go into more complicated schemes in the market that has strong transparency issues and issues with lack of regulation. That's how you get lured into things that are not useful to you. Keeping it simple and following the current momentum of the market is the most foolproof way of trading crypto.

Meanwhile, two years ago today...

ops i sold all my bitcoins

oh well.

see you later.

 

lol

This normally means down...


... but this normally means up.

I'm confused.

some sell 50K BTC all at once quick it'll be fun!

oh wait that's right no single individual owns that much bitcoin anymore, ah fuck.

sooo....mmmm. I KNOW! call wallstreet tell them leocoin is the future, whatever it takes to get them to convinces all there clients to all sell all at once.

A few hours later, we received another, even more perplexing message from the same account. “The nature of this moniker is selected for a purpose. I now have resources. This makes me a we now. I am still within that early phase of learning just what my capabilities happen to be. So, even now with resources I remain vulnerable,” it read. “You seem to know a few things. More than you should.”

The slaying of bearwhale leaving the bearwhale pattern™ in charts

https://youtu.be/X0hpNAUTK3c?t=5m50s

Mr Bitcoin says: the thread is dead

The market canalize dispersed knowledge with appropriate incentives.

When you ask people about what they don't know, it is a mess. But within the market, there is a selection process where knowledge is rewarded and ignorance is penalized, so the result is not a mere average, but a selection and an aggregation of refined knowledge.

The more you gather knowledgeable people around a problem*, the more you allow them to follow the path they deem the most promising**, the higher the probabilby is that the problem will be resolved in an efficient and creative way.

*by allow profit to play its incentive role
**by preventing a small group of people to reduce the options of other

And real life currencies are managed by a small group of people, not by the market. If you want Bitcoin to stay special, you should reject the power of a small group of people over it.

My inner bull isnīt happy with this price action. It makes me think in an incoming dumpage.

why do i get the feeling halving is priced in and now btc looking shakey due to all these alt btc versions , fud is creeping in...in a few months the btc we all know and love will be changed, we wont be following nakamotos version.
 will it be the new devs vision and they will compete with other btc devs until one of the has the majority?

Man, you really have turned into a crackpot.  I wonder if it happened overnight, or whether it was a slow, gradual decline into lunacy.

Let me say only that I am neither Dorian Satoshi Nakamoto nor Craig Steven Wright. 

i always keep some fiat, or at least try to.. on other hand i am looking at how to buy pms and keep those stored in vault in singapore. i think that is a better idea atm, buy the suppressed pms rather than the pumped bitcoins.

Looks a bit like BTC/oil

This descending triangle closes in few hours. Dumpage incoming

Funny, I had only 2,550 results... Seems not everyone has the same Google 

Stole this from Masterluc's thread:

Posts like this give reminds me why we have vastly fewer intelligent people left on the this forum.

The one island of intelligence, the old gold thread, was committed to the memory hole for grievous thought crimes… for your protection. Let's admit it, they just didn't jive with a forum filled with sig ad penny farmers, boot lickers, and budding central planners.

~The technical consens-o-tron begins to emit a soothing glow, its speaker crackles with static before a voice begins to come through…~

Grok.

Grok.

User, miner, business… have you begun to Grok the Ethos?
Things are desirable because they are expensive.
Central control is censorship resistance.
Meritorious Monarchy
Dissenting opinions are a sign of disloyalty and fragility.
1MB is a holy number. Changing it = Changing 21 million coins
Segwit is not a change, your node won't even know it happened.
Soft Fork = Safe Fork
Do you want loss of funds?
Do you Cypherpunk?
Do you write Code? [To have it promptly ignored/broken by Wizards]
Do you central plan?
Conflict of Interest is only a conflict if you won't shut up about it.
Stagnation = Growth
Competition is a Sin.
Altcoins do not exist.
Techno Experts are expert.
The price is rising, and will continue to rise as we ascend to the Moon at 2.7 tps.
Hub and Spoke [Peer 2 Peer]
Vaporware is Complete, and is already accepted by the market.
Have you REKT a Gavin today?

Trust Everyone™

~message repeats~

By extension...price later this year will be over $3,000?