All posts made by solex in Bitcointalk.org's Wall Observer thread
1.
Post 1916257 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.54h):
wonkytonky is right. This is a very bullish formation.
It is targeting a run up to $170...
2.
Post 1925610 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.54h):
What's amazing me is the way the bid side keeps so steady or builds, even after large volumes of buys at the $130 and $140 mark. pre-$140 we were 40k+13k down to $120/$130, and now we're 40k+15k, and that's after all the $140 buying. We were 67k down to $100 and 31k up to $150 , and now we are 67k + 24k, so the bid side really is doing a great job, considering the buying at $130 and $140
Once we break $150 i wouldn't be surprised to see us go up to $200 quite quickly as the panic buying starts and supply drops
This might be heretical in a wall-observer thread, but
people are wasting too much time reading the chicken entrails of wall movements.
For every buyer there is also a seller, for every dollar in there is a dollar out of Bitcoin. The only reason the price goes up is
sentiment.When sentiment changes then floods of sell orders will appear from nowhere. I bet there was a monster wall at $230 when the price hit $266, but it didn't do any good. If the price suddenly shot to $1000 then there would soon be a tidal wave of sellers taking profits until it hit the last level where sentiment had a consensus ($125, or even $95).
I think the 4-year logarithmic trendline is the best indicator of sentiment, based on fundamentals, and this points to a stable price at $200 and eventually $1000 in the future, but not because of all the wall-dances along the way.
3.
Post 1948336 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.54h):
I am a bit confused by the latest sell off. Everyone can't make money on these swings, and I would bet that most lose it. So why do they keep trying? It's not like there has been any kind of bad news to induce selling, and we all know how much people will be willing to sell for on Monday or Tuesday. I can't figure out why so many want to sell at the current low.
OK. A lot of people with holdings of coins are still kicking themselves for not selling at $266, so were waiting for the retrace to dump them. However, the retrace *seems* to have petered out at $166 instead, so they are dumping before it goes back to $50 and stays there.
An alternative, perhaps the level-headed view, is that it will find a new level closer to $130 than $50. So selling now is too late (again)...
4.
Post 1991417 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.55h):
The selling pressure just keeps coming. Funny ask wall gone now.
Yes. The daily chart shows the price treading air, with a retrace likely to between $80 and $100 before any sustained long-term rally higher than that...
5.
Post 1993186 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.55h):
Markets are strange beasts, they like to thoroughly sample every price up and down, lots and lots of times.
The market explored the area $90-$95 very well, (just like before the April 11th peak). It then shot from $97 to $135 very quickly. Although it has explored back to $125 quite well, it has not done the region $97 to $125 since. It seems like it wants to spend time in that range, at least around $115, before the next main trend kicks off.
6.
Post 1993323 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.55h):
Markets are strange beasts, they like to thoroughly sample every price up and down, lots and lots of times.
The market explored the area $90-$95 very well, (just like before the April 11th peak). It then shot from $97 to $135 very quickly. Although it has explored back to $125 quite well, it has not done the region $97 to $125 since. It seems like it wants to spend time in that range, at least around $115, before the next main trend kicks off.
that seems to be where we're heading:
Agreed. Those weekly candles clearly show the market stabilizing after a buying ramp which got out of control. Personally,I expect a slow climb from $100, perhaps regaining the $266 high, and keeping it, by the end of this year.
- I could not care less if it crashed to $10;
I do. Because if it ever got to that price again then it would be due to a major disaster with the Bitcoin protocol.
7.
Post 1998742 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.55h):
stop talking about 87 or 95, support is here now, don't miss your chance
It needs to test $100, and by testing I mean, cross it. Short term I would put a limit buy order in $96-$99 range, that is the safest.
I am thinking that the $104.66 low was close enough to $96-99 for the market to be satisfied that it has retraced the bullish move. So sub-100 not on the cards anymore...
8.
Post 2002248 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.55h):
Butterfly labs officially announced shipping... prepare for the bullrun!!
or not...
Coming of ASICs means just one ... selling pressure. People invested a lot into ASIC hardware and they need to cover the costs. The question is if there's still enough buyers to keep the price at these levels after all the news bitcoin-mania ended. We are in the bear market now. The price may slowly go downwards throughout the whole 2013 like it did after 2011 crash.
I see this differently. There must be thousands of pre-paid orders to be filled, so no effect on btc price until new orders are pouring in
Further, price is tracking difficulty. As the difficulty zooms up towards and past 10 million the integrity of the Bitcoin network becomes phenomenally strong, dragging in more investors who might have been sitting on the sidelines worried about network security from hacking.
9.
Post 2012649 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.55h):
Accordingly, this capitulation may be the greatest of this bubble collapse, but it will not be the last one and will not be the bottom.
This capitulation at $91. Have you forgotten the bottom at $50 two weeks ago?
Are you predicting a bottom below that?
10.
Post 2013022 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.55h):
Accordingly, this capitulation may be the greatest of this bubble collapse, but it will not be the last one and will not be the bottom.
This capitulation at $91. Have you forgotten the bottom at $50 two weeks ago?
Are you predicting a bottom below that?
Understand that my time context is the entire bubble collapse, which I expect to be roughly three months after the peak on April 10. Yes, $50 is not the bottom - that is the nature of a speculative financial bubble collapse. Evidence shows that the bottom is deeper than most expect and takes about as long to occur as the bubble took to form in the first place. I believe the bubble started January 7, 2013 at $13.50. The underlying trend I think allows for a bottom well under $50.
I understand the argument, but $13.5 was well below the 3-year logarithmic trendline. $47 was on trend which was where the price spent some time, especially before and after the temporary chain-fork. The $266 peak was "only" 5.5x this level, whereas the 2011 peak was 30x the prevailing trend-line level of $1 then.
I agree with this sentiment, and around $80 as the potential bottom, if $91 can't hold.
6k
BTC will take us to $95.00.
I have a feeling that apart from today (Friday May 3, UTC) we will never more have the chance to visit it.
Official Reason: the capitulation of 2nd Fibonacci order from the strong bull move, of $50->$167, leads us to $95, but no lower. (The third is $78, which means that should we cross $91 today, it'll be irresistible, and the the fourth and so on, but
the chance is small, imo.)
Also sub-$100 prices just "seem too cheap".
I am willing and able to just accumulate below $100 myself.
We are in a secular bull market as long as Bitcoin adoption is growing, and I see no proof to the contrary.
11.
Post 2013452 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.55h):
A lot of coins are still in dumb weak hands.
10k just sold driving the price to $91 again.
Anyone with 10k looking to exit, then there was plenty of opportunity at $120, $140 or even $160 recently.
12.
Post 2022739 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.55h):
The 10-30% weekly increase in adoption (weekly % growth of the # of bitcoin users), will turn this discussion completely ridiculous before the end of this month:
January: 10, February: 20, March: 40, April: 80, May: 160, ... December 20480.Even the above contains more valuable advice than most said in this thread, although it is public knowledge that this kind of behaviour cannot just increase exponentially. It will go parabolic, crash, and repeat. Not only I believe it will go to $1M this year, I have not heard very many good arguments from anyone, what can hinder it
I am a perma-bull like you, but you are really overstating the trend!
It is indicating $200 by the end of 2013, $500 by May next year and $1000 at the end of next year. Still fantastic growth
13.
Post 2023857 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.56h):
That Baidu search volume has data from 2008, which is impossible for Bitcoin. So the "exploding" part is meaningless.
Isn't there a better search term in Chinese which actually means "Bitcoin"?
14.
Post 2030820 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.56h):
What I don't understand is why we put ANY belief in the graphs. First rule of investing is that past performance is NOT indicative of future performance (good or bad).
Bitcoin is not on a performance curve but an adoption curve (at least that's my belief).
When it reaches near saturation, it will about flatline at whatever price with minor fluctuations and probably a slowish upward climb due to fiat inflation and bitcoin deflation.
Exactly. And during the adoption curve exponential gains are inevitable until saturation is reached. This was seen with MSFT and AAPL in the early years.
15.
Post 2030976 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.56h):
Agree, you'r buying instinct is state of the art. Those 700 bought at 134 day before 40% crash is the move of the Master tactician
It was irresistible, goat sold to me at 3% discount to Gox!!
At the time of the deal the terms were in your favour (if we skip over the no-escrow part). Goat admitted to making a slightly unprofitable deal to see whether you could actually cough up $92k. That the market went significantly south after that is just bad luck (and unimportant in the long run).
At that time I did not fully buy back. I could buy back in full now and be better off. I just assumed we were going up, silly me.
However I'm not going to buy back all now, I want lows 70s!!!
FWIW $80 was the low for a long-time, maybe forever.
$115 is Fair Value for Bitcoin NOW.sqrt (Peak $266 / Low $50) = 2.31
sqrt (Retrace peak $166.4 / Retrace low $79) = 1.45
$266 / 2.31 = $115.2
$166 / 1.45 = $114.5
$79 * 1.45 = $114.5
$50 * 2.31 = $115.2
Expect Bitcoin fx rate to oscillate with a median value of $115 for some time, at least until next major news-fed feeding frenzy!
16.
Post 2031169 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.56h):
FWIW $80 was the low for a long-time, maybe forever.
$115 is Fair Value for Bitcoin NOW.
sqrt (Peak $266 / Low $50) = 2.31
sqrt (Retrace peak $166.4 / Retrace low $79) = 1.45
$266 / 2.31 = $115.2
$166 / 1.45 = $114.5
$79 * 1.45 = $114.5
$50 * 2.31 = $115.2
Expect Bitcoin fx rate to oscillate with a median value of $115 for some time, at least until next major news-fed feeding frenzy!
Can someone explain this magic to me?
What is commonly overlooked is that a move from 100 to 200 is the same magnitude (percentage-wise) as a move from 100 to 50, i.e. a doubling in value is the opposite of a halving. Taking the square root of the change means that both directions are directly comparable.
Are you 'all in' then ?
yes. since $13
Excellent. I would rather have this by my name than many other predictions, like the $1m per BTC!
17.
Post 2042257 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.56h):
It just boggles my mind that someone will play around with 2mil in cash in a market like this. I wonder how many BTC he has?
Zero. And just learned about Bitcoin, how amazing it is, and wants a long-term holding like Winklevii, Exante and Keiser?
18.
Post 2046182 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.56h):
Interesting chart. Where did you get it from?
From a colleague of mine, who used bitcoincharts.com data.
ManBearPig has price data going back to 2009 which shows the trend has been consistent from the start,
19.
Post 2046288 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.56h):
Interesting chart. Where did you get it from?
From a colleague of mine, who used bitcoincharts.com data.
ManBearPig has price data going back to 2009 which shows the trend has been consistent from the start,
I don't see any option at bitcoincharts.com for that type of chart. Do you mean he just used their data and then his own charting software or ?
That is a really interesting chart, probably because it just keeps going up steadily
If you could find the link that would be great - much appreciated.
IAS
Yes. Raw data only from bitcoincharts. You can set the chart you want, like this all-time daily one:
http://bitcoincharts.com/charts/mtgoxUSD#igDailyztgSzm1g10zm2g25And use the "load raw data" at bottom left to get the numbers. Then chart it in any package (in log form)
20.
Post 2056906 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.56h):
Anyone interested in puts?
As you might know by now, I want to buy bitcoins, and what would be a better way to buy them than giving others permission to sell at lower than current price
and net the margin. Worst scenario would be to just net the margin..
Imho, we will see either 110 or 102, one before the other. Prepare accordingly.
We just saw 110 and 102 in the same candle only 2 hours ago!
If you have no useful information then best to remain silent until this changes.
21.
Post 2057176 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.56h):
This whole price drive-down was probably done so that as bank transfers come in from that long Japanese bank holiday they can get cheap coins. I think we're going right back up.
No.
My guess is $100 in less than 5 hours.
Edit:
Because magic!
Congratulations Frozenlock, you have joined the Wall of Fame too
https://bitcointalk.org/index.php?topic=193526.msg2057166#msg2057166
22.
Post 2057353 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.56h):
Solex bought just to troll me.
Haha. I wish.
There are degrees of boldness and the wall of fame has some real doozies. To be fair, your prediction is milder than most.
FWIW, I agree with Ares, we are seeing an upper channel break-out. But is it a fake-out of a break-out? I am sure Rpietila has a view!
23.
Post 2057627 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.56h):
So, we're going to see 95 again?
Yes, we are. Very soon. Winter is coming
Bitcoin winter for a frozen bear...
24.
Post 2058624 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.57h):
I meant a very bad sign pricewise. So you agree that it seems like we're going down?
No. Check out the hourly chart. The price is coiling for a spike to the upside.
25.
Post 2058732 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.57h):
26.
Post 2058995 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.57h):
Solex you are Bull? If you could buy $90 BTC right now by playing into an established downward trend would you?
(Hint: your answer is also the Market's answer)
Your question is:
what makes you think the downward trend is still in place?
The dip to 102 may be the closest it gets to 95 for a good while. It was not really that far away. The market might be remembering all the times traders were left waiting on the platform for the perfect entry point when the train was whistling away down the track...
27.
Post 2067451 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.57h):
The lag is pretty silly, I don't know wy Mt.Gox puts up with people putting up bids of 0.01 @ 0.01 and then removes them, it's obvious spam to lag the server, they should at least throttle bids and asks that are far outside the range of current spot.
Please feel welcome to add to this:
https://bitcointalk.org/index.php?topic=174526.0
28.
Post 2068736 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.57h):
ok traders - question for ya.
i've apparently talked my head off about bitcoin enough that my brother wants in. he wants to buy two block erupter blades from asicminer the next time they're available. i have word from friedcat (in a PM inquring about the group buy of usb's i'm running) that there could be more available in a week or so. worst case scenario, those will sell for about 75 btc each, as they did in the first auction...
Arklan, upfront cost payback for 10 Ghash @ 75 BTC is about 6 months with current difficulty
unchanged. Do your maths using this chart for future projections...
https://bitcointalk.org/index.php?topic=178051.msg1919283#msg1919283
29.
Post 2078617 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.57h):
I can see dry paint.
Does anyone have any theory as to why we've stopped at 112-114?
Look at the ask bids 114-120. Bouncing between 14k-20k. Way too many coins for a $6 span. Unless someone drops 2M we're not going up for the time being.
Indeed. This was my bold prediction - with some maths to back it up instead of the usual arm-waving...
https://bitcointalk.org/index.php?topic=178336.msg2030976#msg2030976
30.
Post 2079348 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.57h):
You guys and gals are driving like this:
The excitement was in the past. That triangle completion will be a big "ho hum".
You're not suggesting we've reached saturation?
The market has absorbed all the recent investment and news, so the next 3 months may well be like the last three months of 2012. A gentle track with an upward bias, depending upon the success of the v0.8.1 deadline, and the conference this month too.
31.
Post 2080159 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.57h):
Shot from the era of stability:
Imagine we are at $11 in that picture. That's 30k BTC down to $10, which is similar support to what we currently have.
Agreed. The main difference now is that I would remortgage my house to murder a $12 ask wall
32.
Post 2080702 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.57h):
It's usually drawn as a triangle. But as someone with a physics background, I see it like this:
Right. But an alteration is required to reflect markets being different from analogue wave-forms. The Y-axis can't go below zero, so the quiescent state is at some positive value. For Bitcoin, during the first oscillation it was $115.34, the 2nd it was $114.66 and the last it is $110.36 (as it changes with time).
33.
Post 2080892 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.57h):
Sure. But the zero just means displacement from the mean. A car's suspension is a damped oscillation but that doesn't mean it goes through the road when you run over a squirrel.
Agreed. But because price variance observes a Cauchy distribution, rather than a Gaussian one, the "mean" is meaningless (pardon the pun) and can only be determined retrospectively from the oscillations.
What is more interesting to me is why, when the oscillation has about died away, the tendency seems to be for things to fly off in one direction or the other. I don't seen any obvious mechanism.
The mechanism is the butterfly effect in Chaos theory (which I confess I don't have more than an overview of). I think we saw this at $97 when someone bought 5,000 coins and a run to $166 resulted.
34.
Post 2081095 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.57h):
Was looking like a definite change in trend at the time we lost data.
One/most of the big sells was probably the ddos attackers.
They want to buy back cheaply afterwards.
35.
Post 2081783 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.57h):
My bold prediction:
MtGox will come back up, everyone will look at each others... and nothing will happen.
Price won't move (significantly) in any direction.
big assumption there, that everyone learns from past mistakes. Better copy / paste this one to the wall of bold predictions. Bold indeed.
Can I get my parade now?
It's here!
36.
Post 2084753 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.57h):
due to low volume I hope you guys don't mind a crosspost from here:
https://bitcointalk.org/index.php?topic=192719.msg2084624#msg2084624
to enter a bear market we need a lower low. Depending on timeframe there are 2 potential lows to break:
- the $80 low on 5/3 (red)
- the $50 low on 4/16 (yellow)
if we don't make a new low below $80, it's not a bear market but a correction (by investopedia definitions quoted further above). We could then enter a bull market or at least further consolodation pattern (green). Of course there's different options for "green", I just outlined roughly one of them. A break of the $170 top would clearly mean we're in a bull market again (both higher highs and higher lows would've been reached then)
I don't think we have to wait more than a month to see this resolved.
Interesting, but no scenario has the rate between $80 and $120 during the last week of May, which must have a high probability...
37.
Post 2092751 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.57h):
But I was too pessimistic. I still think we can go quite lower short term, but I'm now pretty much convinced that $50 was the real bottom. In my book, thats quite bullish - heck, we where at $14 at the beginning of this year
People seem to be forgetting that you could buy thousands of Bitcoin for $15 each only four months ago.
Are they really worth $113 or more right now ?
Nobody seems to think so or they would not be sitting on the orderbook remaining unsold for days.
The market is
different from 4 months ago.
Consider 11 million bitcoins. 1 million probably lost, and 75% sitting in wallets rarely moving. This leaves 2.5 million active in the market, the "free float"
Winklevii have absorbed 110k for a long-term investment. Many others have done the same. Assume that 1000 people have recently taken 1000 coins each for long-term holdings as the news frenzy went on. That means the 2.5m free float has been halved. Market dynamics are complex and this could easily mean a stable 8x increase in value.
This will constantly change. When BTC passes $1000 many stale coins from the 75% will wake-up and hit the market. Expect price swings like $1,700 to $700 in a few days. All the newspuppies who called Bitcoin a bubble ponzi will also wake-up and claim they were right. It continues...
38.
Post 2097332 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.57h):
more wall.jpg and less text
Pardonnez-moi? I prefer PNG myself but what the hey.
PIC
Reach little Bitcoin, reach.
1.8% daily growth rate is too fast for more than a short-term/mid-term outlook (anything a few months or less). The equivalent annual return is 7400%, which would bring us to $80k per coin by May 2014. I guess Risto would support such notions...
It *is* indeed a short/mid-term outlook
MBP. I think the log trendline using data back to Gox start (mid-2010) suggests the long-term return. It predicts $500 per coin by May 2014. Incredible but still credible if you see what I mean...
39.
Post 2098072 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.58h):
due to low volume I hope you guys don't mind a crosspost from here:
https://bitcointalk.org/index.php?topic=192719.msg2084624#msg2084624to enter a bear market we need a lower low. Depending on timeframe there are 2 potential lows to break:
- the $80 low on 5/3 (red)
- the $50 low on 4/16 (yellow)
if we don't make a new low below $80, it's not a bear market but a correction (by investopedia definitions quoted further above). We could then enter a bull market or at least further consolodation pattern (green). Of course there's different options for "green", I just outlined roughly one of them. A break of the $170 top would clearly mean we're in a bull market again (both higher highs and higher lows would've been reached then)
I don't think we have to wait more than a month to see this resolved.
Hat tip to molecular. Green arrow scenario underway...
40.
Post 2104531 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.58h):
My own little nagging to the bears.
I like this so much I think I will print it out to pin on the wall
41.
Post 2104590 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.58h):
...
haha. that wasn't a prediction (except that I said I favored green scenario). If we include your grey scenario (sideways for a while in white area in my pic), what I layed out pretty much covered all possibilities. Easy to be correct then.
Although I prepared for a drop I must admit I'm pretty relieved we broke upwards. Initially (couple days ago) I had been quite certain move would be up, but had increasingly become worried about the possibilities red/yellow. Probably have been reading too many bear threads... really gets to you after a while.
Let's see how much momentum this has... who knows, maybe it's a bull-trap.
Agreed with your thinking. Also, there are so many people following TA that the spike might be driven by the trend-line watchers jumping in and momentum becomes self-fulfilling. A breakout usually retests support before taking off. Heading for a retest at the moment...
42.
Post 2105913 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.58h):
Shows you need to double-check before major buy/sell decisions...
43.
Post 2126055 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.58h):
It's called a descending triangle. I don't think this is anything but noise, though.
Yes. That spike on May 10 now looks like it was purely technical. All the TA traders looking for a breakout, but the fundamentals hadn't changed to support it. Fair price at $115 until more news and major investment.
44.
Post 2126766 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.58h):
Most people here are new and don't remember.
2011 was Crazy Awesome
the atmosphere on the forum as we slide down closer and closer to 1$ was ecstatic!
I wasn't there but I can just imagine how people were so happy and falling over themselves to buy shedloads of BTC at $5, $4, then $3, then whoohoo $2!
45.
Post 2130058 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.58h):
IF we do succeed then these prices will seem like nothing (do the math regarding the float). If we don't succeed then I'm sure we still took part in one of the greatest experiments in recent history. Think about that - governments and wealthy individuals have always controlled money. This is the first step away from that (that I can think of). Still nice to say, years from now, that you tried to do your part to change things. And if things really take off, we shouldn't lose sight of the fact that it is truly all about sharing. I'm game when that time comes, we are all in this together. (Emphasis by Pzi4nk)
I like your overall message but I wonder about the part I highlighted. Do you really think bitcoin is immune from the manipulations of wealthy people, much less governments?
Not to be inflamitory but it seems to me wherever there's a market it can be manipulated by great wealth.
The thing is (at least for me): parasitic governments currently have (at least) two major ways to milk the populous: taxes and "the hidden inflation tax". The latter one will not be possible with sound money. This means governments will have to produce their income from
visible taxation. They also have to act responsibly fiscally (just like every other entity) because they wont be able to just borrow in a virtually unlimited fashion.
This hopefully results in leaner, more responsible and more accountable governments and a overall better situation for the people living under them.
That's exactly my hope too. Smaller governments. 100 years ago people only interacted with the government to get births, deaths and marriages registered, and perhaps a passport. Today governments are constantly in the face of every citizen. Clearly they should be slashed by something like 50% or 75% until they only make up 10% of the economy. Everyone would have vastly improved freedoms and quality of life. Once the massive distortions caused by the debt-based money and shadow-banking systems are eliminated national economies would hum along smoothly. Will it happen..?
46.
Post 2142713 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.58h):
Daily chart looking very bullish for a spike to 130/140 soon
47.
Post 2150492 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.58h):
when do we buy back in though?
wait for my signal!
Waiting..., General Adam!
48.
Post 2150556 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.58h):
49.
Post 2150731 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.58h):
The crash from $266 to $50 was due on a denial of service attack on the MtGox website causing speculators to panic.
You're dreaming. That fall had absolutely nothing to do with gox. It was the market stabilizing after a frenzied media-hyped run-up. All the gox glitches do is add a little to the random up and down noise.
50.
Post 2150754 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.58h):
k i'm placing bids
dont wana miss it next time. 100.98
I'm normally a bull , but I think $94 is the buy here. Going for that.
51.
Post 2151262 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.58h):
"ICE's Homeland Security Investigations unit boasts 7,000 special agents in 200 U.S. cities that focus on crimes including drug smuggling, financial crimes, computer crimes, and export enforcement. That has included seizing Internet domain names, targeting sports streaming sites,
and arresting a student for jailbreaking game consoles."
LOL
52.
Post 2151592 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.58h):
This too shall pass...
If and when it does we see $200 again
If we figure out how to route around the damage (i.e., the G) in a reasonably efficient manner, we'll see $500 by the end of the year.
Really though, we need a bank. And we're close to the point where a few of us acting together could afford to bribe the infrastructure of a small country, and get one.
might not have to be a country, rather an office in international waters? https://bitcointalk.org/index.php?topic=199424.0
How about a Bitcoin exchange located on this?
http://aboardtheworld.com/our_storyCompletely untangled from government regulation
53.
Post 2152421 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.58h):
Maybe is just a continuation of the limitations in United States against online gambling
Thanks telemaco, and this article is a good find.
54.
Post 2153067 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.58h):
How are you traders doing with this volatility?
I sold a few at 113 and could have bought in for 1.5 BTC profit, but barely missed it and only made .2 after panic buying before it got back to close to 113.
A few days ago I took some profits at $119. Queued a buy order at $106 at the same time and it triggered while I was sleeping last night.
My trading activity is thin these days. Reduced volatility makes things a bit dull but its good for the economy overall.
Occasional events like this are still good opportunities to make a few bucks though which keeps things interesting
Smart trading. Well done for applying planning and patience.
55.
Post 2154455 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.58h):
...where as Bitcoin is in violation of the laws of nearly every country. ...
No way. You are spreading FUD.
There is a distinction which needs to be understood. Bitcoin is not a class A drug, or a bottle of your own moonshine whiskey. It is not in violation of laws. Some people who use it might trade illegal items (such as moonshine), but this is true of any medium of exchange. It is what people
do with a currency such as evade taxes which can break laws, not the currency itself.
56.
Post 2154537 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.58h):
Put that way, that's a good point however that means you have to define BTC as an actual currency and using an alternate currency is against the law in the US.
This article discusses the issue and it seems it is not illegal for US citizens to accept a payment in foreign currency (since 1977).
http://money.stackexchange.com/questions/3582/are-there-any-countries-where-citizens-are-free-to-use-any-currency
57.
Post 2154673 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.58h):
Coinage Act of 1965, Section 102 states: All coins and currencies of the United States (including Federal Reserve notes and circulating notes of Federal Reserve banks and national banking associations), regardless of when coined or issued, shall be legal tender for all debts, public and private, public charges, taxes, duties, and dues. Only United States currencies (including Federal Reserve Notes) are currently legal tender in the US.
Keyword being LEGAL tender. Thanks for that BTW.
"An astute reader may note that legal tender only concerns the repayment of debt, taxes, duties, and dues."Citizens are free to use any currency for an
unofficial transaction.
Not familiar with any laws (or how to read them lawyer speak) so might a dumb question...but does the USD being legal tender in the US mean that other currencies are illegal? Or the other currencies can still be be used but just not legally obliged to be accepted?
That's your answer. Legal tender only matters where the government or judicial system is involved.
So you can't pay taxes in bitcoins. But you can pay your neighbor bitcoins for some vegetables.
58.
Post 2162894 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.59h):
They can't predict the future. VCs have dropped virtually nil into bitcoin. Complete drop-in-the-bucket, easy exit shit. I don't understand why people think "all this money" is being invested. It isn't. Investing 6 figures, or a few million, is a cheap price to pay if the future turns sour.
I think the point is that there are serious people outside of the Bitcoin community investing, or talking about investing, which for most people, lends an aura of legitimacy and the promise of widespread adoption.
There's no question that VC's make mistakes, in fact, that's part of the business model. But compared to the sophistication of the average investor in the
BitcoinTalk securities marketplace, I'd say this new money can rightfully be called smart money.
People are expecting a lot very quickly and are impatient. On the 22nd May 2013 we come up to an important anniversary. Three years since the first significant real-world Bitcoin transaction!
https://bitcointalk.org/index.php?topic=137.msg1195#msg1195Three years is a very short time in the life of a revolutionary technology.
Cars, phones, even the WWW took much longer to get traction than Bitcoin has so far.
The Bitcoin train will be crashing through everything in three more years...
59.
Post 2164872 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.59h):
Wallmaster with 3.5k on 114.59 holding the price down.
That's frozenlock desperate to drive it to single digits so he can load up big time
60.
Post 2177591 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.59h):
Sorry to steal the show, but even after spending 36 hours in an emergency care unit, I still think $1,000+ peak valuation is unstoppable before Christmas. My experiences tell that even the patients here are eager to buy by the truckload, as soon as they get into the position to do so. Not everyone was picked when he had all his belongings packed to two nice cabin bags (+the silver).
As in you are taking back the 300k prediction?
This patient is desperate to buy Bitcoin as soon as he is in a position to do so:
61.
Post 2178204 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.59h):
Anyway you draw it, we seem to be out of the short term downtrend. I was a short term bear until today's mini rally. I dumped at 110 only to sit idly watching the ticker as it went down to 103 thinking sub 100... Bought back in at a loss at 118, we've been stable way too long and have broken through all the bearish trendlines. I really see no reason not to be long right now.
I called a uptrend to 130/140 area just before the Dwollar story broke. I think that this is still going to happen soon.
62.
Post 2189533 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.59h):
The cool thing about this conference is that I got to chat with Brian Armstrong before he went on to Free Talk Live, and I learned why they had so many problems with low daily limits on the number of BTC they could sell. It was because of limitations placed on them by their bank, not anything inherent to their processes or backend capability. Apparently the bank has removed this limit as a result of their success in raising $5 million in additional capital.
Once awareness of this increased capability spreads, I expect it to have the same effect on the price in the medium term that their initial unveiling of ACH purchases had back at the end of January.
Great inside info JR. Interesting.
63.
Post 2189884 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.59h):
This "Get-out-of-Gox"
yankee-rally won't last long
[emphasis added by Pzi4nk]
Is this a baseball thing?
It's more of an idiot thing.
A few vocal people who trade with 'pocket change' amounts of money can't make a withdrawal for 25 cents any more and this is creating a big problem for them.
They think it's causing a 'bank run' on MtGox - it's hilarious.
Dwolla = Dust transactions.
Indeed. The theory is that dwolla users (which is USA customers only) are converting their fiat on gox into btc in order to shift it elsewhere, hence artificially driving up the price, towing bitstamp and other markets upward.
However, major dollar buyers would use wire transfers and remain unaffected, so probably the theory is lame, and BTC was headed up anyway,
64.
Post 2189996 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.59h):
Solex, that's a great signature.
"Got a new wallet? Here's a test address to practice sending to: 18acC6avzFy495oQWbRtr2Z7hirYW4u8DD"
Do you get many takers?
ha, thanks. 4 donations in 4 months, but each time getting smaller.... will be a long while to get to 1 BTC at this rate tho.
Don't forget you can check any address this way:
https://blockchain.info/address/18acC6avzFy495oQWbRtr2Z7hirYW4u8DD
65.
Post 2199410 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.59h):
Yes, this is quite big news. Lucif was talking about it early last week if I remember correctly.
link to a thread about this? id like to learn more.
It was discussed here:
https://bitcointalk.org/index.php?topic=207711.0
66.
Post 2203922 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.59h):
You know the problem? That the number of actual bitcoins transactions is going down, volume is doing the same and the number of users paying/buying in bitcoins is becoming quickly the same as oct-dec 2012.
These show an
uptrend. If they were a price chart you would call the maintrend very bullish
https://blockchain.info/charts/n-transactions?showDataPoints=false×pan=&show_header=true&daysAverageString=7&scale=0&address=https://blockchain.info/charts/my-wallet-n-users
67.
Post 2204175 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.59h):
Both show a clear long term uptrend ....
Correct wachtwood.
Using the 7-day avg for smoothing
https://blockchain.info/charts/n-unique-addresses?showDataPoints=false×pan=&show_header=true&daysAverageString=7&scale=0&address=The peak matches the $266 peak when a lot of coins came into the market from cold storage. Only dipped since then due to lower price stability.
The number of addresses used is exploding upwards in a month by month view.
68.
Post 2206041 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.59h):
Had a good time at the conference, definitely met some cool people. This week could be interesting.
Loaded, are you getting any vibes about whether the Dwolla problem is scaring fiat off Mt Gox, or no real impact?
69.
Post 2206129 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.59h):
Had a good time at the conference, definitely met some cool people. This week could be interesting.
Loaded, are you getting any vibes about whether the Dwolla problem is scaring fiat off Mt Gox, or no real impact?
I have received over $250k in wires from Gox since the Dwolla account seizure with no issues. Hopefully they will obtain the proper licensing and have it all resolved soon.
Agreed!
70.
Post 2207905 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.59h):
I'm posting this here both to warn those who ignore everything other than gox not to get carried away by gox-only movement and also to try and nudge anybody with arbing capabilities to do us all a favour and make some money helping us discover where the price should be right now.
Btcchina has 706 yuan. So the usdcny fx rate of 6.1 implies $115 per btc
gox volume for Saturday was 22k, Sunday 20k, both extremely low. However, weekend can be low. If Monday volume not nearer 60k then grab the worry beads.
71.
Post 2208606 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.59h):
MtGox USD Price - $ 122.65, Euro Price - 94
Bitcoin.de (Germany, Europe) Euro Price - 89
The difference has been like this for weeks. I've seen it even higher.
It just goes to show how rubbish fiat is for international transfers!
Check out the LTC/BTC rate on BTER and BTC-E, they are almost identical 0.0267
https://btc-e.com/exchange/ltc_btchttps://bter.com/Must be all the fees, delays and other hassles which prevent equalization for fiat/BTC across exchanges.
72.
Post 2215676 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.59h):
A friend in China mentioned today there's growing curiosity about BTC there after it was featured this weekend on CCTV. It's made it to the daily hot topic on sina weibo. Anyone want to speculate on whether/when this might be reflected in the exchanges?
Sure : It will make no difference whatsoever.
That is about as extreme as saying it will cause the price to explode to $10,000. I just don't see how advertising to millions or potentially billions of people will have no effect???
It had pretty much no difference the first time hit hit the TV in China.
There was a little price action based on the hype with money already on the exchanges but that soon died out.
The thing that struck me this time is that he said it was a hot topic on weibo. Does anyone know if that was the case after the earlier mentions on CCTV?
Chinese downloads of the Bitcoin software spiked after the 1st CCTV coverage:
http://sourceforge.net/projects/bitcoin/files/stats/timeline?dates=2013-05-01+to+2013-05-19They are top country this month:
http://sourceforge.net/projects/bitcoin/files/stats/map?dates=2013-05-01%20to%202013-05-19
73.
Post 2217116 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.59h):
Back on topic. The daily chart looks to have a bullish triangle with higher lows. Breakout coming, anyone?
74.
Post 2217898 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.59h):
Absolutely. But one could say, we already left the triangle due to the side drift and there was no huge move. But bid/ask sum is still rising, what makes it somehow even more explosive. Your chart illustrates another thing pretty well. The price bounced on the trendline 16. april - 03. may on 15. may again. Pretty strong, I'd say.
Agreed.
frozenlock, the area from may 3rd onward. Smart TA guy like you can see these things without the lines being drawn!
75.
Post 2218088 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.59h):
(...)gox volume for Saturday was 22k, Sunday 20k, both extremely low. However, weekend can be low. If Monday volume not nearer 60k then grab the worry beads.
Still no worry beads, Solex?
That site has only been going a few days, and we need those stats going back a couple of weeks.
Obviously any one day could have more people hitting bids than asks while the market is fairly static.
76.
Post 2221089 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.59h):
Volume is getting lower and lower at Gox.
We may soon have to troll on the "Wall Observer - Bitstamp wall movement tracker - Hardcore" thread?
After the painfully verification/trust process at Gox, it would be major PITA to go through the same process with another exchange - but anyhow we really need to get rid of MtGox's dangerous centralization.
I just hope that better infrastructure arrives ASAP, I'm still not loving Bitstamp too much, and liquidity is still too low (but it is improving).
It looks to me like the price gap between Gox & Bitstamp is closing. Gox is happily soaking up all the "returning asks". Once we are close to parity, the spring will be ready to uncoil...
For bulls only (
bears stop reading NOW)
((Stop reading you naughty bear..))
Volume is almost at record lows for 2013.
But two days were also exceptionally low:
March 17th at 14k
April 6th at 18k
Both followed by 40+% gains in the next few days...
77.
Post 2221759 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.59h):
I think it bears repeating that a stable price is not really stable at all when you consider that 3600 new coins are minted every day. It takes new money pouring in to keep the price stable.
You're assuming those 3600 coins are being sold not kept.
Perhaps friedcat will disclose whether he is keeping them or not
78.
Post 2221790 (copy this link) (by solex) (scraped on 2020-04-04_Sat_10.59h):
I think it bears repeating that a stable price is not really stable at all when you consider that 3600 new coins are minted every day. It takes new money pouring in to keep the price stable.
You're assuming those 3600 coins are being sold not kept.
Perhaps friedcat will disclose whether he is keeping them or not
of course he isn't. he pays them out as dividends.
Who has most of the shares?
79.
Post 2230320 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.00h):
Update on the walls:
Not a darn movement.
Market is flat even on the weekly chart.
http://bitcoincharts.com/charts/mtgoxUSD#rg180zigWeeklyztgSzm1g10zm2g25note: higher weekly lows for 4 weeks now...
80.
Post 2230917 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.00h):
I see what you're saying, I'm never sure whether he's talking about kBTC or BTC half the time. He also tends to write 1000mBTC instead of 1BTC. As you say, who knows what he means anyway? Still, nobody should even be having a single satoshi stolen and at least from my perspective if not his a hundred grand in euros is still a lot to have pinched.
I am sure the 100k was either mBTC or 100k euros, both approx 100 BTC. Still an annoying amount to lose...
81.
Post 2231054 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.00h):
I see what you're saying, I'm never sure whether he's talking about kBTC or BTC half the time. He also tends to write 1000mBTC instead of 1BTC. As you say, who knows what he means anyway? Still, nobody should even be having a single satoshi stolen and at least from my perspective if not his a hundred grand in euros is still a lot to have pinched.
I am sure the 100k was either mBTC or
100k euros, both
approx 100 BTC. Still an annoying amount to lose...
Yeah... no.
oops right, 1000BTC is a big loss
82.
Post 2250080 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.00h):
Seeing a time-compressed chart like this reminds me how much it has zoomed up already. Is it greedy to expect similar increases so soon? Even a gentle upward trend for the rest of the year would be a phenomenal result.
83.
Post 2251608 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.00h):
if we can keep up this slow and steady action we've been seeing during the weekend, i think next week will be very interesting
I think people have been saying next week will be interesting for a few weeks now. I think we are starting to see a nice stabilization and if we do see any drastic spikes upwards out of speculation we can expect to land somewhere around where we are at currently.
well I'm saying next week today...
the prospect of cheap coins was the only thing that was holding us back..... people are confused....
its like they forget
what's really happening here....
That's fantastic! The revolution keeps picking up steam.
84.
Post 2263636 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.00h):
The obvious question now: what are LR users going to transact with instead?
85.
Post 2316439 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.01h):
Looking at the bitcoinity line chart the trend in May looks like a gentle upward continuation of Feb/early-March, before a seismic event of BTC excitement... So main trend intact,
86.
Post 2324799 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.01h):
He sold! Buy Buy Buy!
adamstgBit trap
IMHO the 4-hour chart shows a retrace to 131 likely. The recent downtrend could just be a temporary bounce off the $135 resistance area. $140s still on the cards for June.
87.
Post 2344742 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.01h):
Yes, a lot of weird people are buying now. You didn't sell? I did, and I'm from Slovenia. I didn't know that even more screwed up countries exist. Where are you from (some part of Balkan I guess or America)?
bitcodo, Is there widespread recognition of Bitcoin in Slovenia? Are people considering it a safety net in case a Cyprus-like bail-in situation happens to Slovenian banks?
88.
Post 2348519 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.01h):
Nothing's impossible. Bitcoin could be trading for $10, $50, $100 or even higher over the next few months.
That's wrong. Everything's impossible, except the one and only possible past and future. There is only one world. Possibilities are existing in our brains only.
With so much investment into Bitcoin recently, I seriously doubt it will crash.
What investment?
Any proofs , besides what people say? Actual numbers?
There was a major scandal in the oil industry about African Petroleum , they didn't find any oil but reported a huge find , just to raise their stocks and sell them away?
Why could it be different in the bitcoin world? People fail to raise the funds for their project , but go blabering around to keep the price up while they sell.
Look at this graph?
Does this look like a growing economy?
http://blockchain.info/charts/estimated-transaction-volume-usd?daysAverageString=7This graph is meaningless because it includes this audience of speculators. If you want to gauge the bitcoin economy you would need to filter for only of non-speculative transactions.
Those are the ones with a lower-case "e" through "k" appearing in the address.
89.
Post 2400015 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.02h):
I cashed out at $142...the question now is, when to buy back in?
You waited 2 months wondering when? wow
If $80 wasn't low enough for you then it will be a fairly long wait (still maybe forever..)
90.
Post 2400491 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.02h):
$109.42. Pivot point for the next up-leg?
91.
Post 2418741 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.03h):
It's my impression that since the consensus has become more overwhelming that it will drop allot farther, rebounds are getting smaller, even when the US is awake.
The consensus of a dozen people milling and fretting around this little watering-hole. As if the market would take any notice...
92.
Post 2419451 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.03h):
Must drop another 10000BTC sorry guys.
are you buying a private island?
It's this one:
93.
Post 2427338 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.03h):
I think we're going to go WAY HIGHER than the NASDAQ did since that crash. Even the bears (I think) will agree. There is no way that bitcoins will exist five years from now without being $5,000+ per coin or $0. This $100-$200 stuff will look like a barely noticeable speed bump.
Indeed, and has anyone else noticed how the 2011 peak is a barely noticeable speed bump?
94.
Post 2432983 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.03h):
i'm not crazy i'm telling you 180$ in about 2 weeks time, deal with it
The only way I can see that happening will be if it dips quite low and everyone buys back in starting a huge rally.
I don't see it.
On 1 to 12 hour charts you can see a massive bullish triangle forming. If the price reaches $110 and sits there it will be a launchpad to $180
Edit: Mainstream FX firms looking seriously at Bitcoin now:
http://www.xe.com/currencyconverter/convert/?Amount=1&From=XBT&To=USD
95.
Post 2433243 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.03h):
Anyone need 8k BTC ? because i must sell it urgently
What is it with you and these bullshit posts ?
Edit : I'm beginning to think you're a 'bot'
He has my record as the fastest ignore. Basically soon after his first posts.
What is a "bullish" triangle? Triangles do not have bullish/bearish bias, IMO. I also see a bearish wedge that is itching to break downwards, not a triangle.
Alright, bullish wedge. Clearest on the 12 hour chart.
96.
Post 2433361 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.03h):
Alright, bullish wedge. Clearest on the 12 hour chart.
We require more charts!
Certainly (12 hour bars)
97.
Post 2433420 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.03h):
It doesn't. I am looking at the most recent formation at the end of the current down move which is consistent with how the previous two major down moves ended. There is no point identifying a turning point long after it has turned. I am saying that this is evidence that sentiment is changing.
98.
Post 2435741 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.03h):
Those virtex buy orders are hilarious. Like trying to hide some elephants in long grass!
99.
Post 2449173 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.04h):
Everyone who holds anything else as investment except bitcoins has diversified to the detriment of their financial interest.
well done. Hope you have managed to keep hold of most of them.
100.
Post 2449323 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.04h):
Everyone who holds anything else as investment except bitcoins has diversified to the detriment of their financial interest.
well done. Hope you have managed to keep hold of most of them.
Yes, I haven given away about 2,000,000 and 1,000,000 has been stolen but I still have some.
Sorry for usage of millibitcoin
just fine. I remember your preference for that.
Looks like next up-leg underway as $110 crumbles.
101.
Post 2456055 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.04h):
So what is bitcoin supposed to do? drop to 1/16th? (uhh... no arrogance inteded
)
I don't hink we will repeat the 2011 the game has somewhat changed.
Indeed. The 3-year logarithmic trend shows the $12-13 base in Dec-12/Jan-13 to be severely undervalued. $30-$40 was on-trend for that time. So the dip to $50 in April was still on-trend. IMHO seeing $50 again is possible, but anyone wanting to buy again at $30 is dreaming.
102.
Post 2458963 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.04h):
adamstgBit, sometimes I wonder if you are just trolling...
with selling pressure severely depressed due the mass delusion of a bitcoin depression on the horizon. the rally will cut through all resistance points like a hot knife cutting through soft butter.
180 with 12days
This deserves a Wall of Fame spot
https://bitcointalk.org/index.php?topic=193526.msg2458953#msg2458953
103.
Post 2468386 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.04h):
The whale who bought at 95 with slippage to 110 isn't going to be too happy I think. Will he cut his losses and sell?
Not enough slippage for him. Wait until the order book is razor thin, then retardo-whale will strike
If the whale was the same one which sold at $128 then he is 15,000 * $20 = $300k in profit.
I think he can afford to wait a while for his new position to be similarly profitable.
104.
Post 2469023 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.04h):
You've had 4 years to buy cheap coins.
I want this heaven sent opportunity to continue
You want Bitcoin to lose 500 million in value just so you can buy a few cheap coins? Are you serious? I understand people are greedy but that greedy!?
People on this forum are looking forward to whole countries going bankrupt and you are surprised by this?
Of course , most people can't wait for another
Cypress event.
Or a Yapan , or Portogoal one!
hopefully once the nations with hyper inflated currencies actually do clock on en masse and find easier entry to bitcoin or similar, the greedy speculators hoping for this will be a blip on the radar and said populations will find a truer utility, while the speculators can sell portions of their hoard. Then everyone can benefit.
From some perspective or another it's probably only a matter of time. I really pray something like this happens so that everyone can stop speculating about the possiblities and we can simply deal with what is true, and perhaps take some pride in it.
Obviously there is an element of greed in the desire for this to happen, but I think it would also feel quite satisying to know that you are selling you BTC to an Agentiyan or a Kennyan who really needs a deflationary currency, and in turn this sort of event would only bring some more speculators in and increase everyones the value of everyones holdings.
Some people in Amerika who are horrified at the surveillance state will see bitcoins as a safe-haven from the spying NSA
105.
Post 2469133 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.04h):
Congratulations Loozik, you have invented a new form of TA which has hitherto remained undiscovered.
106.
Post 2472220 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.04h):
(PS: If you have fiat, now is the time to buy ;-))
You meant sell bitcoins to get more fiat, right?
updated chart, dashed line is extrapolated - in case you missed it, the price is still going down...
Do you have one of those for when the price was reaching $260?
107.
Post 2489482 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.05h):
That vol spike on CM is completely bogus. It has done this before.
I was online at the time and a few hundred (edit: 1427 that hour) went through on bitcoinwisdom, but not thousands like CM has.
108.
Post 2507393 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.05h):
Which Chinese exchange are people looking at?
Every single one ;-)
You can see them all here:
http://btckan.com/priceUSD price is second from left.
The weekend drop was already pretty reluctant TBH.
That's an amazing link, 9 RMB exchanges! The Chinese are really getting excited about Bitcoin.
109.
Post 2516854 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.05h):
Am I the only one that cried a little with joy when that wall was owned today... but price just bounced back? :')
Nope. I am happy too, especially after reloading in a major way at $91...
Still think $200 by the end of this year is possible. Fingers crossed.
110.
Post 2537009 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.06h):
Did bitstamp rely a lot on aurumxchange?
Still 109 on cavirtex:
https://www.cavirtex.com/orderbook
111.
Post 2537398 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.06h):
With BitStamp trading as low as 90 USD while MTGox held at over 109 USD this is a huge spread.
Theory. With USD withdrawals delayed for up to 2 weeks on gox, people who need the US dollars (and don't have an account in another major currency) are moving coins to bitstamp and carpet-bombing the bids.
112.
Post 2539456 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.06h):
Thinking that for the moment this withdrawl issue is temporary. I don't know how many people are going to need fiat so urgently that they are willing to dump for $80. I could be wrong though.
I agree, unless of course Mt Gox has the same 2-week clock which Butterfly Labs swears by.
113.
Post 2539974 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.06h):
<MagicalTux> we will continue processing withdrawals next week, but limit to 1 million USD per day
Congrats to everyone who took a ~10% loss betting against MtGox's solvency.
This statement screams cash flow issues.
Why limit to $1milliion USD per day ? and not like 100 wires per day? if they are having issues with overload of request,they should limit the request and not the amount.
Absolutely. And long delay problems with euro withdrawals are also strange as the gox notice specifies USD only
114.
Post 2546137 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.06h):
Bullshit? I wanted to get at least one. I think they are very useful.
I have used one for several months. They are a fantastic security device.
115.
Post 2556410 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.06h):
Offtopic:
Wow, LTC is considered a Scam coin?
Isn't Scrypt Jane an added feature, Designed for ASIC resistance , it makes sure even any disruptive tech doesnt have as significant effect on the network as that is seen on BTC. Since people have put so much of money into ASICs BTC can't adopt Scrypt.
Scrypt is not ASIC resistant at all. FYI: it was supposed to be GPU resistant too, and LTC FPGAs are being developed right now.
That said, LTC was very good to me and made me make a lot of money. But, it has nothing fundamentally different compared to BTC, Scrypt was a nice idea (ASICs are indeed a threat for crypto coins IMO) but a failed one. Theres just no easy way to be ASIC resistant, in fact it may be impossible.
LTC is just a BTC clone, thus calling it a "scam coin" is pretty accurate IMO.
What is annoying is that LTC just takes the Bitcoin dev work and packages it as new versions of LTC.
The time is really overdue for the LTC dev to do something like blockchain pruning which could actually be used by Bitcoin dev, instead of all this one-way traffic.
116.
Post 2563473 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.06h):
Alright, what's the verdict on this declining channel lately?
A bounce off, up and onward from about $102..?
http://bitcoincharts.com/charts/mtgoxUSD#rg10zigHourlyztgSzm1g10zm2g25
117.
Post 2563682 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.06h):
...
Most of the alt-coins advocates don't seem to realize that for everyone invested in Bitcoin, it's in their own interest to improve it if needed.
...
Absolutely.
And the higher the unit value of a bitcoin goes, into the hundreds or even thousands of dollars, then everyone who is holding it and mining it will have such a vested interest in its success that this will force a consensus on important changes. I think we saw this in March when all differences were put aside while the chain-fork was dealt with.
It was different in 2011 when coins were worth little, so messing around with new ideas had little cost. No one will sacrifice their $1000 coins for penny alt-coins.
118.
Post 2569592 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.06h):
As a long bull I am feeling very bearish. These Mt Gox issues are bad in my mind. People are happy Gox is losing market share but for me it's more like the lynchpin of the bitcoin ecosystem is failing due to political forces. If the bitcoin processors are dependent on gox then we are close to the point where retailers give up.
Yes. A healthy MtGox is good for Bitcoin. Bitpay and others need a proper fx market with depth to maintain their business. The other exchanges are too illiquid. I think that people who want mtgox to fail are mostly those hoping to buy BTC at 2012 values because they missed the ramp up this year.
119.
Post 2569638 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.06h):
As a long bull I am feeling very bearish. These Mt Gox issues are bad in my mind. People are happy Gox is losing market share but for me it's more like the lynchpin of the bitcoin ecosystem is failing due to political forces. If the bitcoin processors are dependent on gox then we are close to the point where retailers give up.
Yes. A healthy MtGox is good for Bitcoin. Bitpay and others need a proper fx market with depth to maintain their business. The other exchanges are too illiquid. I think that people who want mtgox to fail are mostly those hoping to buy BTC at 2012 values because they missed the ramp up this year.
They are not liquid because most people are still using MtGox. If MtGox were to die, the other exchanges would immediately have tons of liquidity.
And then they would have the performance problems which mtgox has had. Everyone would be screaming at them for having rubbish systems.
120.
Post 2572103 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.06h):
Exactly my thoughts.
Is there some major news?
121.
Post 2572145 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.06h):
50 BTC moves the market 5 bucks :-)
Looks like bull and bear sentiment is diverging -- some whales REALLY think we're going up, some REALLY think we are going down. I don't believe a single player is manipulating both sides -- too expensive
Agreed. And both too dumb/panicky to drip feed their orders and save a load of money.
122.
Post 2579485 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.06h):
Quantitive Easing is deployed with a goal of increasing inflation sure, but do you disagree inflation is pretty much inherent in any monetary system since the concept of money was deployed?
Yes I disagree. What do you expect from someone named Discordia?
What about monetary systems based on the gold standard which have provided stable prices for decades and centuries (punctuated by outburst of
price inflation during wartime episodes mostly)? What about a system based on Bitcoin? I dare say most monetary systems are not inflationary...it's just that currently the fiat monetary system (which is inflationary) is ubiquitous.
Oh there might be some confusion about inflation. It helps when we clarify whether we're talking about
monetary inflation (which is easy to pinpoint by definition) or
price inflation (which is harder to distinguish and even harder to describe how it works).
Since I find monetary inflation to be a much more useful concept than price inflation, that's what I'm looking at. And what I see is that Quantitative Easing = adding to the money supply = monetary inflation. Feel free to disagree.
I'm confused
I think we're basically saying the same thing?
Yeah, a system based on bitcoin would be great. But we're not there yet. Money we'd need to at least plug in and have power running to use is cool but stable physical legal tender for now will will rule. I'm hoping for wireless charger tech to take over so everywhere we walk in cities/ towns we're juicing up wirelessly and never have to recharge our portables. Bitcoin would fit great there, and MTgox would still suck.
I don't disagree and typing this post made me miss this jump in price!
To be more exact, quantitative easing is CB printed money intended to replace the credit money which normally appears in a debt-based economy by
new bank loans. It is not yet inflationary because the fall-off in new loans since the credit crisis began is greater than the amount of QE.
This is also why interest rates are near zero, to encourage new loans. The problem with this CB meddling is that the reason new loans have fallen off is because consumers, households and companies all realize that too much borrowing has occurred, is unsustainable, and want to pay down debt.
If governments ran balanced-books they would agree, but they are debt-addicted too, and can't tolerate deflation because it makes their own debts larger in real terms and even more unsustainable.
123.
Post 2581572 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.07h):
Great link. I hadn't considered the angle that the banks were deliberately disincentivized from lending, just that CBs were pushing on a wet string because households etc did not want any more loans. The advantage of QE is that government gets first use of money and can also fire-hose it directly into the economy through food-stamps and other entitlements.
In theory QE is meant to be unwound once the government runs a profit
, by redeeming its maturing bonds held at the CB, with tax receipts, and have that money permanently out of circulation and "destroyed". LOL, a pipe-dream indeed!
124.
Post 2591664 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.07h):
1000
Ah. And I thought that was the latest Bitcoin price. *sigh*
125.
Post 2591977 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.07h):
Something unusual on Gox, BTC is trading within a 20c band for the last couple of hours. Normally oscillates at least $1 or more.
A compressed price range often leads to a breakout.
126.
Post 2592412 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.07h):
Something unusual on Gox, BTC is trading within a 20c band for the last couple of hours. Normally oscillates at least $1 or more.
A compressed price range often leads to a breakout.
which side ?
thats the question
anyone starting the up or down .. is having a pretty good slippage.. no big guys needed.. just a few buys or sells of 500 could start it
No big guys... just $50k.
Creeping up, but 27k BTC selling up to $110. Wow, some coins are coming onto the market...
127.
Post 2600548 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.07h):
^ Gox just put a full page ad in the g8 summit.
If they were "fucked" I doubt they'd spend the cash to do that. Unless you think something very significant changed in the past week.
I think it may have been a little to bold of a move.
Yes. They painted a target for the bankster-complex to aim at, not only on their backs, but on their faces too.
128.
Post 2623950 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.07h):
Interesting fights !
96 wall just got eaten.
was there a wall? .. on what side? i'm just get out of my bed..
Just 100. Went down to 0.315. Just refilled.
Voodah, 100 isn't a wall. There are any number of people here who could put that up out of petty cash.
1000 is a wall
5000 is a wallzilla wall
129.
Post 2624758 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.07h):
Interesting fights !
96 wall just got eaten.
was there a wall? .. on what side? i'm just get out of my bed..
Just 100. Went down to 0.315. Just refilled.
Voodah, 100 isn't a wall. There are any number of people here who could put that up out of petty cash.
1000 is a wall
5000 is a wallzilla wall
The ultimate wall. 160k btc last year
Doing it wrong 
→ 
Now, that's a monster wall, and interesting too because 160k in coins is a special number to someone who comments here occasionally.
130.
Post 2631094 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.07h):
Re the twins, the application talks about the issue price being a weighted average across exchanges on a particular date (27th June is stated, but I think it is for example purposes and subject to change) ... this would imply that they are backing it with their own coins to me. Trying to read thru it while watching this at the same time
It's a good read in terms of 'risk factors' ... they do a good job of explaining the pros and cons of BTC.
So far to me it sounds like they want to sell paper backed by their coins and earn a fee for managing the ETF ... that there is a fee is explicitly stated ... size of basket will go down due to fees etc.
Well, look on the bright side, at least they are not selling them now on the exchange !
In their techcrunch interview they said they started buy in the "high single digits" (late 2012). So they were certainly part of the reason for the initial ramp from $10 through the old high of $31.
131.
Post 2651190 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.08h):
Where's all the bulls? Why is nobody buying? It's so "cheap". Forum full of people who claim to believe in Bitcoin and there is no buying pressure. This forum is all talk and hot air.
They just enter the login and password at this time
Different question. Where are the sellers now? Sell side looking thin and $72 the low for a while. Are those bulls with orders in the 60s going to sit back as it retraces to $100?
132.
Post 2656489 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.08h):
as someone who sold at 72 and watching the price climb up it is ruining my evening and driving me nuts.
Don't worry - we'll be trading in the $60's before you know it.
We will see $103 before any adventures in the $60s, with the high target a couple of weeks away from now.
133.
Post 2672297 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.09h):
Is the market doing something new?
It seems to be crabbing sideways at $68. Just as the recent peak at $136 was a flat-top with no volume spike. Maybe it is having a flat-bottom at this current level.
134.
Post 2677016 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.09h):
all buy before it's to late
..
I agree.
People keep talking about lows in the 50s as if it hasn't happened since the $266. But it has been in the 50s twice. This was a much larger fall than the 2011 crash which initially went from $31 to $10 and took 2 months to go below that. Markets never do exactly the same thing. So this time the post-peak low looks to have happened fast. Today. three months on we have likely seen the nearest approach ($65) to the previous lows. Anyone at the end of 2013 looking at the market firmly above $100 will be kicking themselves for staying all out when it was trading at $70
135.
Post 2678097 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.09h):
wow, look at all those coins suddenly leave (manipulation) the order book, must all of a sudden be a real sign (manipulation) of confidence in the price going up! hurrah (manipulation)! y'all buy those bytecoins right quick now (manipulation)!
Or just a function of coins being bought.
Exactly. There were about 17k coins on the ask wall up to $77 when move started at $68, which matches an ask BTC drop from 150k to 133k.
136.
Post 2678181 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.09h):
The last time I remember to observe many smallish orders of the same kind was during a larger dump and they were on the selling side.
But how does micro-orders on the bid manipulate the price up?
Consider. If they get hit - what color will all the prints be...
137.
Post 2678239 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.09h):
I believe they are hoping to push the price in the direction they want enough to trigger other bots into buying or selling based on the market movement.
If they can get the fast ema to cross over the slow ema (for a simple example) they can likely trigger a bunch of less sophisticated bots into making a move.
Plus....a lot of newbies just put in market orders without looking at the order book intelligently.
They are probably there by someone who has got to the "magic" 0.25% comm rate and can make a steady profit by taking the spread all day as his 0.01s are constantly lifted on either side. During the down-wave they looked to be on both sides most of the time.
138.
Post 2678617 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.09h):
20k BTC up to $85 but only 6k down to $72. Pullback seems likely here.
139.
Post 2679367 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.09h):
it's the old elephant trunk pattern
Ready to blast a fountain twice as high as its back!
140.
Post 2688652 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.09h):
Well , in term of number of transactions , we're back to 2012 ... cimpochi to the rescue?
Not surprising.
More anecdotes:
At these exchange rates, folks are not spending them and so almost all my orders are USD.
The BTC buys less silver now than they used to. Had a lot of orders when BTC was >110, more than I could take and clear so I had to limit the BTC sales. Now it is all USD.
The latest Bitcoin software v0.8.3 disincentivizes the number of micro-transactions. This stat is likely influenced by that change.
141.
Post 2696393 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.09h):
Building a launchpad at $77. Next stop $90
142.
Post 2701660 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.09h):
And now the panic buying begins.
Yes. Sell orders at $89 for those who prefer to sell before all the red candles appear. Of course it is scarier that way!
143.
Post 2703286 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.10h):
Price is falling. Thinking of moving my bids up from $60 to $80.
Probably wise unless you are prepared to wait out the next peak/trough which may still not get near $60. IMHO even $65 is unlikely again.
One strategy is to ladder orders, say $73 to $82 with 1/10th size at each $1 increment. If the lowest ones don't get hit then repeat the process at the next retrace down.
144.
Post 2703407 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.10h):
^ a short term uptick was necessary and expected...before resuming the overall medium term downward trend...the pattern remains: lower highs and lower lows...that pattern has not been broken yet....
How can you say that after checking out the 12 hour chart, such as below:
http://bitcoinwisdom.com/markets/mtgox/btcusdWe have just seen the biggest move up for 2 months. A new pattern is emerging. At some point reversals have to happen, unless it is in terminal decline. I remember watching the Enron share price in late '01 (didn't have any, fortunately) and it just kept going down and down. When it hit $8 the Bloomberg guys were having a fit saying that it must turn around soon. It didn't, the company collapsed and it went to zero. Unless Bitcoin is in terminal decline we will not see a permanent downtrend. In fact the last four years has shown it is the ultimate financial instrument on the planet. I think it will remain so, based on remarkable fundamentals, and so do many other people.
Enron. NOT Bitcoin chart:
145.
Post 2710280 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.10h):
hm, are we heading to 100
Yes. I think so, at least to 95-98. Interesting that the expected pullback to 80-82 is not materializing, which means the market is feeling pretty bullish.
146.
Post 2710368 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.10h):
It looks a lot more like a clearly established upwards trend and that $65 was the bottom when you zoom out on the charts. Sometimes it's too easy to focus in on the close detail and miss the bigger picture. ClarkMoody's H4 scale shows this clearly.
Indeed. I find H4 the best scale to use to get a feel for the detailed and big picture at the same time, and normally keep CM set on that.
147.
Post 2710988 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.10h):
In 2011, we rallied off 5.74 to over 12 in a massive bull trap before we descended to 2. So why not.
This time it's different
It's always different!
Yes, but it depends. How about this:
2011 Peak
Low, 10 weeks before, $0.56
Lowest post-peak $1.994
Increase =
3.56x 2013 Peak
Low, 10 weeks before, $15.39
Lowest post-peak $50.01
Increase =
3.25xPretty much a similar story
148.
Post 2711358 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.10h):
My money is on downtrend.
Taking profit for now, as even if $95-100 is broken in this epic bull trap, I would expect a pullback.
Don't you 3 digits on me, Bitcoin!
Stand firm. Have courage
149.
Post 2711571 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.10h):
Bitcoin is a GOD. It can't be stopped by mere mortals selling their souls for filthy fiat!
150.
Post 2711889 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.10h):
5 min chart shows the pressure building again. $100 is toast soon...
151.
Post 2724335 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.10h):
One thing is clear to me, we are still on a downtrend unless we touch at least $108 and $120 later (i always look at daily charts for that matter)
The price action in the last few hours indicates that $108 is in the gun-sights. There is no real enthusiasm for a full retreat after the foray to $104.
152.
Post 2733659 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.10h):
Manipulation mostly occurs in the orderbook, the walls. It has only a small effect in the overall market trend. The market came down from 136 to 65. The market is only midway between the two recent extremes. It is entirely reasonable for it to return to $120 for a while even if the long-term downtrend is still intact. If that downtrend has already exhausted, and the $266 bubble deflation has faded away, then it may kick around in hundred plus range for months.
153.
Post 2733859 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.10h):
Maybe just a little worried that not everything is in the image of 2011:
Honestly, 2011 is a vague guide, not a rule-book. There was a fundamental difference right at the start. In 2011 when the bubble began the base was just under $1, so increased over 30x to peak. But the fall was only to $10, still 10x base. So it had a long way to fall, and it did for 5 months.
In contrast, 2013 dropped straightaway to barely 3.5x the base of $13-$14. So a low was quickly tested. 2011 was the first bubble so a lot of people did not know what to expect. In 2013, everyone was looking at this prior event and obviously many people cashed out fast. If 2013 crashed only to $135 and bounced around that for a few months then the argument that the bottom had not been tested would be very sound. But this is not what happened.
154.
Post 2737474 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.10h):
Perhaps the market truly doesn't want to go over 100 just yet. The downward channel upper line is at 100ish, and 100 is a psychological number.
Psychological numbers are strongest early on. 100 has been tested, re-tested, run-through, so many times that its barrier-effect has faded a lot.
155.
Post 2738329 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.10h):
Not much longer now. The 12 hour chart is unbelievably bullish. The bears in the low 100s are going to be massacred.
156.
Post 2751330 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.11h):
Just to get this out there. Still not sure where we go but...
Good chart but I don't understand why high 1 is in the wrong place. It has to be the 136 area.
And that upper blue line should continue down as significantly, it is actually crossed by the recent rally.
157.
Post 2751986 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.11h):
SatoshiDice is being sold, in full, to a new company that will take over all ownership, operations, and management. The total sale price is 126,315 BTC, or 0.00126315 BTC per share.
According to the MPEX Agreement, MPEX holders are entitled to receive 0.00126315 BTC per share, alongside other private owners. However, for the good of the MPEX holders and for the sake of the general Bitcoin community, which the site always has intended to support and nurture, SatoshiDice has arranged to pay MPEX holders an additional .00223685 BTC per share bringing the total to 0.0035 BTC per share.
I inferred 350k based on that, since there are apparently 100 million shares.
Maybe most of them are not paid up.
Isn't Eric the largest shareholder, and unlikely to dump them quickly, if at all?
158.
Post 2752021 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.11h):
SatoshiDice is being sold, in full, to a new company that will take over all ownership, operations, and management. The total sale price is 126,315 BTC, or 0.00126315 BTC per share.
According to the MPEX Agreement, MPEX holders are entitled to receive 0.00126315 BTC per share, alongside other private owners. However, for the good of the MPEX holders and for the sake of the general Bitcoin community, which the site always has intended to support and nurture, SatoshiDice has arranged to pay MPEX holders an additional .00223685 BTC per share bringing the total to 0.0035 BTC per share.
I inferred 350k based on that, since there are apparently 100 million shares.
350k BTC seems to be an insanely huge number.
Even 126k BTC is crazy for such a simple piece of software which has gone nowhere for months.
159.
Post 2752147 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.11h):
189 BTC proft in 1/2 month, so only 27 years to recover the investment. Then free money for the new owners. Woohoo!
160.
Post 2752242 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.11h):
189 BTC proft in 1/2 month, so only 27 years to recover the investment. Then free money for the new owners. Woohoo!
Have you read the SD statystical analysis thread and looked at the monthly profit charts? Big losing strike from 9 to 14 July. Variance. And still
BTC77,239.51 total profit so far. At the beginning of 2013, total profit was at aprox.
BTC32,000.
Do the math and let me know again.
OK. But their business has fallen off substantially.
https://bitcointalk.org/index.php?topic=80312.msg1716834#msg1716834https://bitcointalk.org/index.php?topic=80312.msg2624808#msg2624808The Q2 profit is about 9,000. So 126/9 = 14 quarters or 3.5 years. Somewhat better if that can continue.
161.
Post 2759426 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.11h):
So when are the address credited with BTCs?
I dont see much activity on the blockchain yet.
Big payouts coming from this one...
https://blockchain.info/address/1Drt3c8pSdrkyjuBiwVcSSixZwQtMZ3Tew
162.
Post 2760748 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.11h):
2012:
(I should call that ABCDE rather than 12345, but this gives the idea.)
This time's it's different.
Ahh. The internet never forgets...
https://bitcointalk.org/index.php?topic=42514.msg2449374#msg2449374
163.
Post 2766687 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.11h):
I just got back from vacation,
I drove all the way back from PEI to Montreal, a 12 hour drive + stops ( still feeling hopped up on coffee
)
anyway, i'm back so up Up UP!
Welcome back. Very wise to stay away from the taverns in Lac Megantic
Edit: I am forming a new theory that the 2013 bubble has dissipated and $90-95 is the new medium-term price. Consider that it spent a couple of days there before the peak, during the retrace to 166 and settling now.
164.
Post 2767229 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.11h):
I just got back from vacation,
I drove all the way back from PEI to Montreal, a 12 hour drive + stops ( still feeling hopped up on coffee
)
anyway, i'm back so up Up UP!
Welcome back. Very wise to stay away from the taverns in Lac Megantic
Edit: I am forming a new theory that the 2013 bubble has dissipated and $90-95 is the new medium-term price. Consider that it spent a couple of days there before the peak, during the retrace to 166 and settling now.
Are you saying that it is looking less like 2011 and looking more like 2012?
this is exactly what i think too, especially considering news from 2011 and now. They are completely different not to mention a lot more services. And besides in 2011 no one know what will happen next but now we know there is going to be another bubble sooner or later.
Yes. I think August 2012 is a more similar event. Another price factor that a lot of people forget is that the block reward halved at the end of November. It took a month before a major uptrend started but it seems the market drew a lot of confidence about Bitcoin from the halving as it proved that the 21 million cap really would be effective.
165.
Post 2792232 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.11h):
Assuming that the recent rise is partly from people desperate for fiat and buying coins to dump on Bitstamp I thought I would check MtGox's facebook page for any clues that they are actually starting to clear the wire backlog.
This from yesterday shows no improvement:
"Alexandra Sokolova Not kidding, they are dicking me and many other around. I know someone who decided to cash out in 130k April, and wire transfer in seperate transactions thoughout late April and early May, they proccessed some of the smaller ones but all the larger ones are still pending 3 months later."https://www.facebook.com/MtGox
166.
Post 2792412 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.11h):
I think our happy-go-lucky moderator has a one-track mind
167.
Post 2798879 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.11h):
who else would capitulate is my question
Bears would, by returning from "all in fiat" to "50/50".
It's not like the bears could use their fiat for food, clothes, cars, utility bills or anything like that. Mt Gox has ensured that bears can only use their fiat to buy one thing: bitcoins!
168.
Post 2806947 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.11h):
That 2.5k wall at 96 which was half-eaten has now re-inflated to 3.2k
Keen buyers at these levels, perhaps spooked a bit by the deposit/withdrawal circus.
169.
Post 2807058 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.11h):
We have the standoff between a buying whale and sellers that are willing to dump at 96-97,
I believe mostly people who missed the train on the 19th July (I didn't, sold at 99 the day before).
If the buying whale makes another move today, up to 98 I believe, we'll find out if the sellers
get exhausted or not. If they do, the way to 100 and beyond is open IMO.
I agree. And it is trench warfare as it is 19k to 100 but 36k to 103 (according to bitcoinwisdom) so the sellers do have a lot of ammo.
170.
Post 2822503 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.12h):
It's not $100 because Gox is artificially high because no-one can get fiat off..
It's not $100 if its only just technically above $100
It's not $100 because it's a dumb whale buying
It's not $100 because Stamp is still less than $100
171.
Post 2824751 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.12h):
The ask walls on MtGox are collapsing!
ClarkMoody is showing an unusual 2:1 ratio right down the depth. Already 30k bids above $90 but only 15k asks to $109.
Is this fundamentals or the scared-fiat spike?
172.
Post 2829940 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.12h):
I have received a rather large box addressed to "Mr.Bitcoin"
price will rise sharply soon!
How many business days is it now to 180?
IDK, but just the speculation around what is in the mystery box addressed to "Mr.Bitcoin" should push us to 120!
173.
Post 2835510 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.12h):
The hash rate is going mental but this does not seem to bother the fx rate. I suspect that the next halving will occur mid-2016 instead of end-2016, and this acceleration is already priced in by the market.
Blocks Mined 200.00
Time Between Blocks 7.20 (minutes)
Bitcoins Mined 5,000 BTC
Difficulty 31,256,960.73
Hash Rate 310,758.39 GH/s
https://blockchain.info/stats
174.
Post 2836742 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.12h):
Honestly. Cyprus is dead news in the Bitcoin world. Now, if Spain or Italy announced a similar theft of deposits - that would be different.
175.
Post 2836875 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.12h):
It wouldn't surprise me if every single whale buy since $65 was by a different person. There are a lot of people very interested in this new phenomenon, and they each have their own circumstances, plan, entry point, tolerance for goxxing, and fear of missing the train.
176.
Post 2837049 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.12h):
so gox has no more coins - the whale can go to the futures exchange and start shorting, short more contracts than coins he has, and then start a massive dump
I suppose you mean the 796 exchange. I doubt that the BTC market would pay attention to the open interest on 796 anymore than large sneks listen to girls.
177.
Post 2852971 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.12h):
Yes. I was watching it at the time. The sellers dried up and 700 appeared as a high bid which was only lightly touched and put a floor under the market as it started up.
And that point where the market appeared to make a major directional change was a crossover noted by Goomboo:
178.
Post 2858481 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.12h):
Ahhh, soothing music to my bullish ears, don't stop..
179.
Post 2862551 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.12h):
that guy on reddit is just a troll trying to raise the price in his favour
we have to ask ourselves the question, what would paypal gain right now by accepting bitcoin as a form of payment?
Hey! That's my avatar!
HAHAHA. Had me completely fooled.
Very sneaky that.
180.
Post 2867418 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.12h):
today a 2k+ wall appeared at 105 so buying pressure has increased, someone then moved 2k from 103 to join it at 105, hence the drop from 4k+ to 2k+ at 103, i'm guessing the new wall is just the person who pulled most of their buy wall when the price was dropping couple of days ago.
Perhaps some whale buyers are afraid of missing the train.
The 4 hour gox chart looks like a pennant breakout is happening, like this example...
181.
Post 2868131 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.12h):
The only connection I see there is the $200 million figure.
I just don't see why $200m is needed to beef up the Avalon operation. Since Avalon did their first ASIC on a shoestring (couple of million?) why would it take $200m to go the latest chip technology. Surely something like $5m would be enough. HashFast and CoinTerra are not going to spend anything more than a few million either.
182.
Post 2868232 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.12h):
Yep, probably time to forget mining and just buy bitcoin.
While it's still affordable
$106, $107 just now...
183.
Post 2868809 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.12h):
Yes. Lots of good news, but significant gaps, like no mention of how the FinCen MSB registration process is going, or why accounts with several banks are not up and running. Do all their banks have the same trick of hanging onto deposits for 7-10 days??
184.
Post 2881384 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.12h):
I'm getting more and more interested about this:
https://blockchain.info/charts/n-transactions-excluding-popularIt excludes MtGox, SD and other similar sites. So where is the traffic coming from? Real-world usage like in Argentina and M-Pesa?
185.
Post 2901681 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.13h):
I have a feeling MtGox will soon burn to the ground...
this thread will be irrelevant,
I vote that chartbuddy move the Stamps thread now.
Why not just change the title to "Wall Observer - BTC/USD wall movement tracker - Hardcore"
186.
Post 2913234 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.13h):
who knows
i think 3-6 months is about right, they have been processing.... maybe if mtgox works really really hard they can get it cut down to 6-9months
I am not convinced that any USD wires are leaving gox. The last one seems to have been to user episking who ordered the fiat on July 4 and received it 3 weeks later.
No one has evidenced a later one.
https://bitcointalk.org/index.php?topic=251895.msg2779764#msg2779764Other currencies are still tricking out at snail pace.
187.
Post 2920375 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.13h):
Spike to $108 on a buy of 5k. The whales are getting twitchy in their gox-enclosure.
188.
Post 2921362 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.13h):
SEC might be just doing the bidding of DHS. There is less than a month until the 12th anniversary of September 11 2001.
Those crazy muslim terrorists may be preparing something, and DHS is trying to cut down money supply routes to
potential terrorists. Unfortunately for the BTC community, BTC can be used to fund terrorism, and honest traders
get caught in the middle. Just a theory of mine...
The bulk of the money supply to terrorists is surely from Mid-East oil revenues siphoned off from governments there.
15 of the 20 9/11 hijackers were Saudi but somehow that was far too much of an inconvenience when it came to retaliation - which was then focused elsewhere.
189.
Post 2930873 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.13h):
Wall Street money flowing to Bitcoin?
how the hell can it be flowing into bitcoin when Gox isn't even processing deposits (albeit at a snail pace)
Maybe Wall Street is not quite as dumb as we would like to think and have transferred their money into euros, onto Bitstamp (where coins are strangely very cheap
) and not only vacuumed up the asks but built a rather chunky bid wall. For the first time in weeks the bids outnumber the asks on Stamp.
190.
Post 2935745 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.13h):
It surprises me that people are still prepared to sell coins on Gox in return for their 'x-month IOU's' other than for short term speculating.
I wonder how long that will last
Yes. Those selling on Gox are mostly assuming that they can buy back lower on the dips or have JPY accounts and think they can get that out in good time.
At some point a lot of fiat holders will be left holding the bag. Gox will either sort out its FinCen problems and return to business as usual, or be forced to shut up shop. In the latter case the trapped customers can get in the queue behind the Bitcoinica claimants for their fiat or coins.
191.
Post 2949630 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.13h):
A tsunami of buying pressure and a record number of transactions yesterday:
https://blockchain.info/charts/n-transactionsBitcoin looking to maintain its 4-year trend in spectacular style...
192.
Post 2955739 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.13h):
contemplating making a large purchase
It had better be large, to make up for interrupting a possible record sequence of chart-buddies!
193.
Post 2955771 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.13h):
contemplating making a large purchase
It had better be large, to make up for interrupting a possible record sequence of chart-buddies!
i'm looking to pick up 50
Probably a good a move. Can't argue with these cavirtex prices, especially if you slowly acquire at the bid:
Last Trade 91.03
Best Bid 91.05
Best Ask 93.45443
194.
Post 2968867 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.13h):
BUY BUY BUY!!!!!!!!!!!
sry, somtimes i just cant hold it in.
Have you loaded up using cavirtex yet? Seems like the cheapest coins in the world there...
195.
Post 2976114 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.13h):
30+% premium for mtgoxCAD over cavirtex!
http://bitcoincharts.com/markets/currency/CAD.htmlIronclad proof that CAD is not leaving MtGox.
196.
Post 2976147 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.13h):
Like you can see, fiat is abundant and the bitch don't give a shit.
LOL. No amount of fiat compensates for the personality of a rusty kalashnikov.
197.
Post 3031072 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.14h):
180 by last friday
This is correct if you calculate the "true" price of bitcoin. I calculate we are at true $210 right now. Gox shows price minus $50 evil whale suppression and minus $30 fed gov oppression. So in real reality, my predictions are rarely wrong
$300 True Price by Friday. Guaranteed.
So what will increase by $90? The price, the whale suppression, or the gov oppression? Probably a combination of all 3, but in what proportions?
It is a very complicated equation, beyond your noob analysis. Just trust me on this one
I have a degree in Mathematics. Try me.
No good. You will need a degree in extispicy to unravel his computations
198.
Post 3046825 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.14h):
I don't think the idea of whales buying to get money off of Mt. Gox is really what is going on. This is very structured, with protective walls keeping the price elevated for more pre-determined buys. That does not sound like someone who is looking to buy lots of BTC and pull out. You also do not see decreasing prices anywhere else for these coins. This is something else entirely. What I am not sure but someone knows something.
I think it is the boiling frog syndrome.
A lot of people had six figures of money on Mt Gox and have been waiting weeks and now months for this exchange to get back to normal. The price going up is like the water getting hotter. Every now and again one of them decides enough is enough of being goxxed, and goes all-in to buy coins and jumps out of the saucepan. The last frogs (whales) left are going to lose all their money if Gox finally dies and has to shut down.
199.
Post 3048720 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.14h):
Bitstamp just surpassed yesterdays high
If Bitstamp passes 131 then the previous major pivot high is breached. Any die-hard 2011 bubble theorists still out there are going to have to revisit the drawing-board in a big way.
200.
Post 3054382 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.14h):
Does it mean that we are likely to run out of bitcoins to buy/sell on Mt. Gox?
And right now there are no bids below $138. Does that mean that unless more bids appear, the price can't drop below $138?
Thanks.
I'm happy to award you with the Platinum Prize for the
Naivest Question of the Year 
There are bids for all possible 21 million coins on Gox, all the way down to $1, however, Gox is dying because the USG has crippled their banking services. They may survive, but the echoing silence from them is not good.
201.
Post 3062972 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.14h):
A mere 59 word article! Ideal for the attention-span challenged generation.
202.
Post 3077313 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.15h):
i think this is the first gray daily candle ever!
I think you're right. Unless you count when Gox was down for a couple of days after the 2011 bubble burst.
Yes. And the eight-hour gox-grey candle during the 2013 burst too.
203.
Post 3083813 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.15h):
Gentlemen. Let's play a game. 'Call the bottom'. Is it just a minor swing downward? Is it this the end of our beautiful July uptrend? Doesn't matter, just tell us what you think the bottom will be.
Guess I'll have to go first. I'm afraid we'll see a few more red candles, but we might have seen the bottom already at 130. The worst I can see is testing 125.
Who's next?
Low for today is probably in ...
Next x hours, bounce to $140 followed by a lower low ... $115- 120
Over the next week I think we will see a low of $114 on MtGox ($102 on Bitstamp), both just above the late-July/early-Aug support level. Then a sustained rally to the $140s. Looking at the all-important monthly chart the $140 level will have been tested for the 5th time which is significant long term.
204.
Post 3085749 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.15h):
I'm officially the worst trader - sold at 89 (bottom), bought at 147 ($1 from top), sold at 127 (bottom)
I once heard about a student trader who had reversed the "buy" and "sell" buttons on his trading station to overcome that mind-set.
205.
Post 3097632 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.15h):
I think that the market has passed a tipping point: bitstamp now leads mtgox. The latest drop has bitstamp trending lower and hitting the lowest point ($115.21) four minutes before mtgox.
The orderbook pressure on gox is not conducive to further falls and is seemingly being dragged lower. There is only one other exchange which could do that...
206.
Post 3098908 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.15h):
so Adam dreams away...
207.
Post 3112541 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.15h):
208.
Post 3126178 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.15h):
sure ppl have said this but
bitstamp has significantly more volume today than gox
11,403 vs 8,146 BTC right now
cool
Which might explain bitstamp having zero volume shown here:
http://bitcoincharts.com/markets/currency/USD.html
209.
Post 3126566 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.15h):
210.
Post 3132210 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.15h):
After the uptrend of the last 2 months I expected a retrace to the $110 region. However, the formation on the 12 hour chart at $130 is looking a lot like the formation at $65. The market seems to be building for the next major leg up.
211.
Post 3141057 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.15h):
140$ wall is being eaten by little fishes. Trend: down.
TO THE SINGLE DIGITS!
If you want single digits then you better go and load up with Litecoin because you are wasting your time here.
212.
Post 3144409 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.16h):
Interesting how a bubble/crash can be revealed later as a temporary period of exuberance and fear within a larger uptrend.
Crude Oil monthly chart reminds me of something else...
213.
Post 3157089 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.16h):
bitcoinwisdom also shows $135.
http://bitcoinwisdom.com/markets/mtgox/btcusdIs that $117 from August?
214.
Post 3162637 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.16h):
Erm....anyone noticed that btcguild has about 48% of the hashpower??
That's wrong. It is currently 33%, down from 40% a couple of months ago
http://blockorigin.pfoe.be/chart.php
215.
Post 3171137 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.16h):
ummm, the same thing is going on at bitstamp. slow and steady stream of 1 btc sells.
This is a steady stream of
buys. These trades aren't originated by sellers because the seller's orders are being hit all the time. Someone is accumulating a large holding and does not want to do the usual whale splash of ripping up the ask wall.
216.
Post 3187214 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.16h):
Gox proclaimed dead. Funeral to be arranged shortly:
Invitations going out soon...
217.
Post 3187257 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.16h):
I think Gox will survive this - but they have definitely lost their front-runner status which is not necessarily a bad thing.
Its undeniably awful for them!
They should be ashamed. Such an easy position to hold but incredible levels of incompetence destroyed them.
Late last year when I first learned about MtGox I quickly assumed that they would be the next Google or Facebook, a mega-company to ride the Bitcoin revolution. They are sure crashing and burning instead. Very sad, but largely due to their own incompetence (failed merger, regulatory failures).
218.
Post 3228112 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.16h):
I'm looking at weekly volume on mtGox (in BTC)
Last week it has been the week with the lowest volume since the week of Jun 20 2011. And that was the week with the hack and mtGox being offline for 4.5 days. LOL.
Low volume is a good set up for a breakout, no?
Yeah, that's right.
A breakout.
On the 3 day chart it does look like a base is forming for a massive breakout, both on Bitstamp and MtGox. There is no unease that the market is overvalued at this level, like there was a few months back.
219.
Post 3237824 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.16h):
This company is just a debt buyer. On August 30, someone bought 17,800 BTC from gox and sold them to secondmarket for $ (as GOX can't pay them $, this is like a debt). Now secondmarket will sel this debt to investors.
Bitcoin is money, virtual gold, gold 2.0, currency, a payment system, but it is not debt.
220.
Post 3244392 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.16h):
--_Crap, did anyone else notice bid sum took an 800k dive?
Someone cancelled their low bids and just slammed the asks for 8k coins. Worried about missing the train, so next worry: btc withdrawal..
221.
Post 3253763 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.16h):
Disclosure: I adjusted a little bit down this week. Wanted one of my companies to buy more silver. If anyone is seeking to buy about 500 BTC for a price higher than in Bitstamp, drop me a line. Otherwise I will just dump them.
This is the first serious throw-in-the-towel sentiment from you. Silver might tick up $10 over the next year while BTC could be anywhere up to 4 digits. Puzzling.
I sincerely believe that most holders of bitcoins have done exactly as I (among others) has advocated: only invest a modest sum, and fully prepared to ride it to the oblivion if need be. My own bitcoin holdings are already up more than 1000% and I am not selling until the proceeds will give a sizable boost to my economy. Most people are not inclined to sell at a loss, even to their own detriment. On the contrary, there is a weird willingness to wait for years until an investment breaks even in fiat terms and then sell, once it has finally started to perform.
222.
Post 3256839 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.16h):
I think that people are increasingly spooked that MtGox is not solving its problems. Coindesk have recently abandoned gox pricing - so the flight away continues.
223.
Post 3256995 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.16h):
I think that people are increasingly spooked that MtGox is not solving its problems. Coindesk have recently abandoned gox pricing - so the flight away continues.
So, they are just going to pretend that the depth on the Gox order book does not exist, and that other exchanges don't correlate to it, leading to nonsensical indicators.
No. I am saying that MtGox is a distorted market, because for many people it is a one-way "exchange" fiat-in btc-out. This is not news, but the buying pressure from this situation is inexorable.
224.
Post 3263978 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.16h):
Why do we care, it will be a good thing, pay down the national debt. As long as police/fire operate, it will be ok. NSA could use a day off.
We care because it doesn't pay down the national debt. It actually raises it in 3 ways:
1) We actually DON'T collect money the government is due that day. I.e, we miss out on some income.
2) We delay spending that can cost more in the future, think like 'late fees'.
3) We erode confidence in the government resulting in having to potentially pay higher interest rates in the future.
In general, doing nothing is pretty much the worst way of getting out of debt ever.
I am far more interested in Bitcoin revolutionizing the world economy for the 21st century, which is much more important than Obozo and the Congresscritters who can't even run a circus with a balanced budget using $2,200 billion of tax revenue.
225.
Post 3264544 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.16h):
Just a piece of speculation, nothing that I advocate, but I believe I'm not alone to think about this.
Gox is likely sitting at nice stash of btc, and if they are insolvent, they might want to sell large portion of btc at the highest possible price.
So gox manipulates the price and makes others to follow, until volume there is enough high to make them so.
Rising price can also induce more interest in bitcoin and thus influx of newcomers buying into btc (most of them may not be buying at gox, but still easing their effort by eating sell walls at other exchanges). Also, here could be helpful the secondmarket news, to which the rally would be accredited in media, thus finding more plausible and bullish explanation for the raise.
Where that goes is clear. In later stage of rally gox starts to dump (not only on their own exchange of course). Also more players exit their positions. With gox losing its market share and ask sum at other exchanges growing, the market peaks and a crash follows.
MtGox' market share is worth so much more than what they could gain with such a scheme.
Hypothetically, if gained profit could help them to resolve the issue with withdrawals, their decline in the market share would stop.
Also, MtGox does not influence the broad trend. Check out this chart and spot the period when MtGox was closed for 8 days, when it had a much larger market share (80%) than today.
http://bitcoincharts.com/charts/mtgoxUSD#rg60zigDailyzczsg2011-05-02zeg2011-09-01ztgSzm1g10zm2g25zv
226.
Post 3264612 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.16h):
It shows that the market did not crash when mtgox went away. It just continued from the same level as before. It means the following scenario is unlikely.
... With gox losing its market share and ask sum at other exchanges growing, the market peaks and a crash follows.
227.
Post 3267826 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.16h):
Why would they have waited so much weeks?
It might be an explanation but only for a very small part ...
Many people have waited many weeks while mtgox filled their ears with the siren song of "only two more weeks"
TMSome of these people finally cracked and bailed out to get what they can get in fiat.
228.
Post 3267896 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.16h):
No, i think it will struggle on for as long as it has some major clients. While they can do even a stupidly small number of transfers per day (10 I think) it is probably enough to keep their major clients happy.
Anyone new to bitcoin is crazy going to mtgox to buy their first stash. Why pay 15% more than necessary?
229.
Post 3275055 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.16h):
The handle is ready to fire!
230.
Post 3289913 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.16h):
On topic. The rapid recovery from the SR news shows massive support in the market for the $130-140 level on mtgox ($120-125 on bitstamp).
231.
Post 3297852 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.16h):
Dat action. Below 6k vol again. If it hits 4k we are well over-due for some real volume.
Bitstamp volume today at 11.3k approaching double that of gox, and BTCE at 4.5k closing in too. This is a worrying sign for gox HQ. They really are circling the drain...
232.
Post 3347496 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.17h):
post-april-crash high is 166 on gox. While one might argue we should rather look at bitstamp for clearing this, it's still the case: next stop after 166 would be all-time-high.
Agreed. 166 might be the stop for bitstamp, but 180 is more likely the next stop for mtgox. The extra $14 being the gox-premium for degraded fiat, which wasn't the case when gox was last at 166
233.
Post 3367498 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.17h):
Bloody hell, gox is on a screamer. Is this the stampede for the door we have been thinking might happen over the last few months?
BTC-E is $26 adrift. Massive lag.
234.
Post 3426491 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.19h):
The triangle i posted earlier did break upwards. I think this suggest that we're heading up for now.
Nearly hitting the same highs as post silk road shutdown yesterday. Hold on.
Agreed. Market behavior and investor interest this month at >$200 is far different from April. The price is consolidating and building for the next leg. Might be a $300 Christmas present for all Bitcoiners coming along this year!
235.
Post 3431361 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.19h):
Anyone creeped out by this slow low-volume recovery and all the selling?
There is no "all the selling".
Although the charts are similar the volume this week is a fraction of the volume in April (even allowing for gox's lost marketshare). A huge amount of coins are in stronger hands this time.
236.
Post 3438433 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.19h):
I sold my BTC, nice profit. All USD right now.
oh thats got to suck... when you going to buy back in? now or the ATH?
LOL, I've bought back in and sold a few of times since then, that was months ago.
I'll leave further buying until after the ATH when it crashes again.
What if it crashes and the lower is like 250?
Exactly. The way to trade bitcoin is to be all-in *most* of the time, and be partially in fiat only during obvious downtrends (like May/June was).
237.
Post 3446667 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.19h):
Bulls are getting brazen up in here. I just want to see a reversal now so it wipes some of the smugness off these faces.
Considering BTC increases have been at orders of magnitude, I don't think there's anything brazen or smug about expecting 200 to hold up.
Those adjectives refer to peoples' attitudes, not perceptions of the market. But, on the point of 200 holding up -- how many days in bitcoin's history has the price been this high? I wouldn't get too comfortable.
At one point the increase from $1 to $2 was uncomfortable, and the oscillations between $1.80 and $2.20 worthy of micro-analysis. Today, with the Bitcoin ecosystem 100x bigger, 1000x the public awareness, 10000x the hashing power: the $180 to $220 level seems just fine!
238.
Post 3447990 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.19h):
And turns out yesterday was actually bigger than post silk road.
We might be going down/sidways over the next few days... but next week will be ridiculous.
It takes 2 to 4 weeks for a newcomer to learn about bitcoin, set up a Verified account and wire funds.
IMO the recent good news, press coverage and anticipation of new money is already reflected in the price.
Actually, I would think that all those people who are checking out Bitcoin on wikipedia are in the first days of the 2-4 week process. Many won't be buying, but those that eventually will are nowhere near ready.
Why is this happening now?
Norwegian story of $22 in BTC forgotten from 2009, buying apartment, Robocoin ATM, hedge fund interest, CCTV and RT general coverage. All recent.
239.
Post 3448389 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.19h):
Remember BTC is the only real way to pull money out reliably from MTGox..
And this is why Bitcoin will ultimately succeed:
it is the superman of currency. If MtGox was engaged in the business of exchanging anything else it would be dead in the water months ago with its fiat transfer system so crippled.
Bitcoin is far bigger MtGox, and the problem of where whales dump coins is not a make or break issue. Many whale sells are trickled out over days and never detected.
240.
Post 3466582 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.19h):
Whoa since when did Virtex run almost in line with Gox? They were constantly the lowest price around. Or maybe that is the answer, EVIL arbitrageurs got their money into Virtex.
edit
Also didn't realize Cad had lost some value to usd. Virtex btc effectively = to btc-e price.
ya CAD/USD went down a bit.. but not much really, i think virtex is a few dollars higher then usual because of the 1 atm. theirs line ups! and poeple meeting up for coffee and buying bitcoin.
Can i buy an ATM i heard it was like only 20K ?
The Vancouver ATM is reportedly using Bitstamp. The main reason being that Virtex couldn't provide a test service in advance of going live. So the CAD price increase is more likely news-driven. What is also interesting is that the day 2 volume of 139 BTC exceeded the whole October monthly total traded on Ripple (135 BTC).
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Post 3474663 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.19h):
The fact that BTC-E is so close to the Bitstamp price makes me think this rally has a real base of buying pressure under it.
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Post 3474707 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.19h):
The fact that BTC-E is so close to the Bitstamp price makes me think this rally has a real base of buying pressure under it.
Bitstamp was closed for deposits Thurs-today.
That's 92 hours of deposits coming in tomorrow. Bitfinex isnt even allowing trading on Bitstamp because it says USD reserves are too low. Bitfinex trading 2-3$ AHEAD of Bitstamp currently.
Wow. And all of that is basically the first fiat arriving after the Robocoin ATM and Norwegian $900k news.
243.
Post 3474724 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.19h):
The fact that BTC-E is so close to the Bitstamp price makes me think this rally has a real base of buying pressure under it.
Bitstamp was closed for deposits Thurs-today.
That's 92 hours of deposits coming in tomorrow. Bitfinex isnt even allowing trading on Bitstamp because it says USD reserves are too low. Bitfinex trading 2-3$ AHEAD of Bitstamp currently.
Wow. And all of that is basically the first fiat arriving after the Robocoin ATM and
Norwegian $900k news.
(all over the worldwide press)
244.
Post 3476577 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.19h):
Damn it! When's the crash happening???
After it spikes over 400 a crash back to 200 for a short while is very possible.
245.
Post 3476879 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.19h):
For the first time in btc-history Mt.Gox lost his 30day volume leadership.
This IS historic! Poor Karpeles
Yep. He better get on the phone to Western Union and try to negotiate that buy-out (while WU still has lots of cash).
246.
Post 3477258 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.19h):
Mt Gox is like a dog on a leash gagging to race up from $225...
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Post 3493452 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.20h):
11
(Are we going by Gox?)
The gap between stamp and gox is so small and the gox $266 so iconic that I think it is fine to use gox for calling a break of the ATH,
248.
Post 3494768 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.20h):
What was the exact price of the last ATH?
266,00 according to bitcoinity.
259.34 was the bitstamp ATH
249.
Post 3503759 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.20h):
Adding this here.
SecondMarket may have soaked up around 56,000 bitcoins.
https://bitcointalk.org/index.php?topic=326513.0
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Post 3504385 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.20h):
If this bubble can reach $1k, will it promptly create a crash from all of the sellers at that price point? Or will it begin much sooner ($500)?
Here's a "back of the envelope" theory:
Base to Peak ratios
Bubble 1: $1 to $30 (30x)
Bubble 2: $13 to $260 (20x)
Bubble 3: $120 to $1,200 (10x)
251.
Post 3504537 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.20h):
If this bubble can reach $1k, will it promptly create a crash from all of the sellers at that price point? Or will it begin much sooner ($500)?
Here's a "back of the envelope" theory:
Base to Peak ratios
Bubble 1: $1 to $30 (30x)
Bubble 2: $13 to $260 (20x)
Bubble 3: $120 to $1,200 (10x)
Bubble 3: $120 to $1,680 (14x)
Much better. Can't be linear and go to zero.
252.
Post 3504568 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.20h):
I do wonder, if it is a bad sign that someone parts from such an amount of BTC?
What if it's Mt Gox's BTC?
just going to say this...
maybe gox is trying to get enough fiat to send people.
They better hang on to the 30k coins they don't have.
253.
Post 3505786 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.21h):
Meanwhile, MtGox punches to 278.5
254.
Post 3505828 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.21h):
Oh no, Adam has put his uber-bull hat back!
Now seriously, since there was no crash, this means that China is the beacon, they keep buying.
I expect a sharp rise of the price for a couple of days (how many, unknown, it depends on volume), and then the crash.
Come on man, you're worse than Proudhon..
Tzupy, you have been calling crash since $70. Are you still out, or not happy with 300% profit?
255.
Post 3506552 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.21h):
My god, there're under 12000 coins left on Gox to $1000!
SecondMarket will eat that number up in a week. $25,000 minimum investment. Expect their clients to keep coins locked away for a year or two at least.
256.
Post 3506579 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.21h):
Bought big today.
Wise decision, but thought you were already, well, loaded!
257.
Post 3506718 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.21h):
both bitstamp and mtgox got ~3k 300 wall.... who will get there first?
the race IS ON!
I seem to remember the wall at $30 being much bigger than this one at $300
258.
Post 3514274 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.21h):
5h old news... Bitcoin.de is going to change the trading (to instant) soon. Fidor bank will actually take over it
They put that on FB:
Der interne Test der Fidor-API hat begonnen Es dauert hoffentlich nicht mehr lange bis der (nahezu) Echtzeithandel auf bitcoin.de starten kann. Wer noch kein Fidor-Konto hat sollte sich beeilen eines zu eröffnen UND dieses bei bitcoin.de eintragen. Das Konto ist kostenlos, bietet sogar derzeit 1,2% Zinsen aufs Tagesgeld und eine kostenlose Prepaid-Kreditkarte von MasterCard. Hier gehts zur Anmeldung:
https://www.fidor.de/produkte/fidorpayGood news if you ask me!
Fidor Bank is big?
I am not sure if this matters. It is a bank that is registered with the financial regulators in Germany. While it erases some of the difficulties Mt.Gox ran into (good), it opens doors for further regulation (bad, imho).
Market Cap is 35 million euros. Nothing to lose by backing BTC businesses, and lots of potential gain!
http://www.bloomberg.com/quote/F5R:GR
259.
Post 3524525 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.21h):
everytime i think about buying back in the price really moves
EVERYTIME
so annoying!! grrr
Mt Gox looks to erupt again
They really are going to run out of coins...
260.
Post 3525348 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.21h):
Why not pour some petrol on the fire:
http://blogs.marketwatch.com/thetell/2013/11/08/secondmarkets-bitcoin-investment-trust-puts-bitcoin-in-iras/"Interest in the Bitcoin Investment Trust is coming from technology entrepreneurs, family offices and people on Wall Street.
Some family offices are beginning to put a portion of their gold allocation into bitcoin Silbert said. "
261.
Post 3526021 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.21h):
Satoshi he say "Cheap Bitcoin no more. Should mine sooner!"
262.
Post 3526502 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.21h):
Reminds me of this old master from the archives:
But are we in the foothills, like the move from $20 to $36?
263.
Post 3527248 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.21h):
nearly halfway to 2600.. oh lardddddddddd
100% in a few days. That is going to yo-yo really hard...
264.
Post 3527320 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.21h):
The most impressive thing about this Chinese run up is that is coming on huge volume, the most we've seen there during this rally.
We could literally see them run all the way up to 3000 ($482) in the next 24 hours.
Meanwhile, if that happens I literally think the other exchanges are going to sit there and watch it happen.
Which could be a good thing. If the other exchanges don't react on the way up, they probably won't react much on the way down.
The arbitrage opportunities for those with the means will be too great to keep a large price difference going for long.
~17% difference between Stamp and btcchina atm. Sweet arbitrage gods... Hard to believe that arbitrage isn't possible and worth while for some.
So, is there anyone doing this? If Ripple is good for anything it should close this arb gap.
bitcoin without ripple: ...what the fuck is ripple?
It sure is nice to be able to move funds from one exchange to another using Ripple. This lets me perform arbitrage.
For instance, let's say the XBT/CNY market is overpriced. Ripple might have a path where I can move CNYs at one exchange (e.g., RippleCN) into USDs at another exchange (e.g., Bitstamp) without much of a cost.
This benefits Bitcoin as it helps to keeps markets efficient. As a result of my transaction, Ripple gave me incentive to bring my bitcoins to the XBT/CNY market where supply was tight, and because of Ripple I could absorb some of the supply at Bitstamp by buying "cheap" bitcoins from their XBT/USD market.
I fail to understand why such a useful tool gets so much hate around here.
265.
Post 3527430 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.21h):
btcchina, this is crazy.
House prices 22x household annual income. China loves crazy!
266.
Post 3538359 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.22h):
Based on the peak and flash-crash low, the equilibrium price for bitstamp is $311 and mtgox is $338
I would expect stabilization around those until Monday when more fiat arrives, pressing the uptrend. Perhaps less likely is lack of new fiat and another bout of profit-taking occurs.
267.
Post 3543558 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.22h):
Can anyone explain why anyone would sell on Btc-e for less than they could get on Stamp? Is it because of trading between LTC and others or something?
This puzzles me too. Who would move coins to btc-e to sell, and who would move fresh fiat to mtgox to buy?
Especially as the price is firmly in 3 digits, the difference in $$$ terms becomes very significant.
268.
Post 3543728 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.22h):
I thought we might see consolidation at around $300 for while, but the highlighted article on Zerohedge saying BTC could go to $1m is dynamite.
Bring on $400.
269.
Post 3546243 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.22h):
Freedom is becoming an illusion.
That's why Bitcoin is so important. It gives people a chance to retain (or gain) their freedom of economic transaction.
Its rising value is a symptom of people cherishing freedom.
And what's the true value of freedom?
Between 340 & 350 USD
That's what the mighty market thinks, yes. The market is never right, though.
The market is however
more right than any individual.
Similarly to this:
http://www.metacafe.com/watch/yt-iOucwX7Z1HU/bbc_the_code_the_wisdom_of_the_crowd/
270.
Post 3554064 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.22h):
What do you guys think will happen next? Honestly I am absolutely stumped and I think I'll hold out on USD until I see a clear trend.
There was a massive run up from about $140 to $360 (stamp) in a few weeks. Any normal market, 99% of the time, that would be a blow-off top. However, the btc price is doodling around only 5% below its peak. So, it would seem that this is an intermediate level and much more upside remains. Maybe it will go to $500 and fall back to $300 for a few months. That is quite possible too.
271.
Post 3554155 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.22h):
What do you guys think will happen next? Honestly I am absolutely stumped and I think I'll hold out on USD until I see a clear trend.
There was a massive run up from about $140 to $360 (stamp) in a few weeks. Any normal market, 99% of the time, that would be a blow-off top. However, the btc price is doodling around only 5% below its peak. So, it would seem that this is an intermediate level and much more upside remains. Maybe it will go to $500 and fall back to $300 for a few months. That is quite possible too.
400 today, when china awakes?
400 on gox today, I think likely. 400 on a real exchange (stamp/btce etc) maybe by the weekend.
As an aside, just reading about this new exchange. Looks professional and has $5m VC funding (according to genesis block)
http://thegenesisblock.com/category/news/https://www.itbit.com/gox is going to fade fast with all this new competition.
272.
Post 3554454 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.22h):
The problem is that Gox has had so many self inflicted wounds that when assholes DDOS them no one has any sympathy left.
fuck gox, hope it dies in a fire caused by a train
It is better to have 3 exchanges instead of 2.
Some people have been waiting
months for fiat withdrawals. That is unacceptable.
I was a huge fan of gox until June when they messed me around. Would not touch them with a bargepole until ALL their problems are resolved.
FWIW Their api is much better than stamps however.
273.
Post 3554486 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.22h):
Well, except from reporting you for being a terrorist, holding the bitcoinica funds hostage, laggy engine, leaking 60k user accounts, ddos panic crash, delayed fiat withdraws, networks congestion delayed btc withdraws, ltc 6 months++ delay and rude support replies. Mark seems like a pretty cool guy.
Could fill a book with that "
The Rise and Fall of MtGox"
Calling John Grisham!
274.
Post 3555180 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.22h):
Ya.. if wasn't for China, I'd say a lot of resistance again. If China plows through though it'll prob be pretty uneventful.
I believe before this last "correction", China went as high as like $430 USD at one point.
The btcchina ATH is 2630Ĩ, currently worth $431.75. Absolute insanity.
I've never seen arbitrage opportunities this big. You could drive a truck through bitstamp/btcchina. It's all so surreal.
The massive and persistent arbs between the btc markets is proof positive that the fiat system is a dinosaur.
275.
Post 3555618 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.22h):
china and gox are desperate to make a sustained climb, but stamp is asleep at the wheel.
276.
Post 3557031 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.22h):
WTF just happened on Bitstamp? $10 growth in 10 minutes after a huge stagnant period?
Yep. Don't be fooled by the massive ask overhang, the trend is against it.
277.
Post 3564503 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.22h):
New Bitstamp ATH $363.97. Warming up for major action
278.
Post 3566868 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.23h):
We appear to be forming a good old Bitcoin triangle, could take another day to start really seeing it. Could bounce off the bottom line again anywhere from 335 to 350 depending on when it hits that zone. Then perhaps... to the moon.
I don't see it (EDIT: the triangle).
I was about to post the moon
Agreed guys. We are seeing a re-run of the formation at $200.
279.
Post 3574218 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.23h):
I guess this turns CoinJoin into a top priority feature. Fuck the fee mechanism and the block size limit, we really need CJ.
And the DarkWallet. Hope this gets done soon.
280.
Post 3589404 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.23h):
There is no atmosphere on the moon, this image must be a fake.
The flag is aluminium, and it's dynamic warping from the temperature difference between the two sides.
30-min chart in the 3 main markets looks very bullish indeed. Another launch pad built for take-off.
281.
Post 3598108 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.23h):
Stupid bot sold all my bitcoins at a loss and now it seems it will buy again at a loss bitcoin-wise too
is this on of the "off the self" bot, i keep hearing about "robo coin" or somthing?
Robocoin is the Nevada-based maker of the ATMs
282.
Post 3599070 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.23h):
On the topic of wall observation... This is UNREAL
The sky-high valuation predictions that have been in this forum for a few years are now percolating into the mainstream.
For example: Fox Business repeating that Bitcoin might go to $1 million
http://video.foxbusiness.com/v/2841813371001/is-bitcoin-the-currency-of-the-future/This type of headline/hype is certainly keeping the world's best asset right in the face of every investor.
283.
Post 3599807 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.23h):
The liquid magma pool of trapped fiat in MtGox seems likely to erupt again soon.
284.
Post 3600457 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.23h):
Bitstamp just made an alltime high.
...and rising now 434.
EDIT. These 300 BTC's buys are now like 130 000 USD =D
Yes. A lot of coins have disappeared into the shadows. Used to be that 3,000 was a noteworthy buy and 300 just noise.
285.
Post 3609675 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.23h):
$500 to get murdered next...
286.
Post 3609983 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.23h):
Panel II
Ernie Allen
President and Chief Executive Officer
The International Centre for Missing & Exploited ChildrenI think there is a chance the bitcoin representatives may have to walk out on this hearing. Nothing good can come of this if they have already decided bitcoin is directly associated with child porn.
Here's a website with some background on Ernie Allen.
http://bringvarvarahome.org/ernie_allen.php"Mr. Allen is running two cash cows, one of which even dares to masquerade as an "international" entity without any recognition of its claimed status from the United Nations or any other multinational body."What does the Senate do to find panellists? Dart in the phonebook?
287.
Post 3655018 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.26h):
I know that china and gox have sticky fiat problems.
But a $100 difference between stamp and btce is a real mystery.
288.
Post 3656099 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.26h):
Despite the bubble poppage, there is massive bid depth building across the exchanges. Bitstamp now has 10m USD (up from 700k in the summer and 6m just the other day). BT China now has 55m CNY (up from 5m at the beginning of the rally). I don't know what to make of it. My instinct from April, looking at the asks, and the h4 emas, is to sell because its probably capitulating into 300. But then I look at these new bids and I just don't think its safe. What do you think?
This November
bubble rally is nothing like the April one. In April it went up 20x. The post-April level was about $120 when the oscillations finally dampened out. The recent rise is about 5x, and may well be in keeping with all the recent long-term investment and ecosystem expansion.
I have sold a couple of percent of my holding at $585 but am now thinking that the cheap coins from the recent correction are already scooped up.
289.
Post 3656366 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.26h):
as of now we got a well balanced book .. seems the the 580-600 price range is considered fair .. as of now ..
yes the dust is clearing.
but will their be another bear? I'm counting on it....
How much do you holdi n btc and how much fiat?
i am 80% fiat
good stuff
now place bids and pray to wtv god you believe in.
He's not listening!
290.
Post 3667642 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.27h):
291.
Post 3672378 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.27h):
The daily chart looks gorgeous. It hit the short ema, and then the long ema, and then the short ema again, and now it looks like its making sum cup and handle up the trendline.
You gone bull? confusing me here!
Slowly but surely everyone is starting to figure it out. What's happening right now happened before in March. Almost identical charts. One more crazy run-the-train-of-its-rails rally is brewing. It's going to be epic.
Yes. This $720 level is starting to look like the $210 level. Launchpad for moon-rocket.
292.
Post 3678868 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.27h):
Its not a cup and handle formation. Cup and handles are specifically supposed to be U shaped and not V shaped.
lets make up a new term.
call it, V shaped TA trap.
What's on the top right... a red-giant star about to go supernova!?
293.
Post 3683376 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.28h):
the 1000 USD mark will make lots of headlines around the world...
Almost as much as the $1279 mark (or thereabouts).
294.
Post 3683842 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.28h):
I'm worried about going to sleep. The big dump is coming.
Big dumps are just individuals deciding to sell, for many various reasons. This is irrelevant to the market. The market is driven by sentiment and sentiment is up. Every day there are companies announcing they are accepting bitcoins, VCs funding startups, financial advisers seeing sense and recommending clients have a smallholding in bitcoin.
There has only really been two bear markets. July - Nov 2011, and April - June 2013. The rest of the time sentiment has been positive.
295.
Post 3684175 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.28h):
i dont believe in 10 year holding, i think the risk is great that bitcoin will be replaced by a more convenient cryptocurrency.
nowadays bitcoin is the big thing, cryptocurrency=bitcoin. maybe tomorrow cryptocurrency = whothefuckknowswhichcoin
today we can tell bitcoin rises
but we can also tell there are many alternatives already waiting
http://www.coinwarz.com/cryptocurrencyBecause Bitcoin is software it
can adapt fast. Because it is money it will be
made to adapt fast.
If supercoin has some wonderful new feature that makes it better than bitcoin, then $10 billion says bitcoin can copy the supercoin feature. Bang! Supercoin becomes another niche clone-coin.
296.
Post 3688217 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.28h):
This is a major company. The news keeps piling up!
http://www.avatrade.com/about-avatrade
297.
Post 3693101 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.28h):
The usual Monday morning incoming fiat tide will drown the bears.
298.
Post 3693828 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.28h):
So, where is this magic $1,000?
Power is flowing away from Bitcoin.
FFS. $200 to $800 in a month isn't enough?
$1000 might be a Christmas present, or a New Year gift. Why not be happy?
299.
Post 3698756 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.28h):
You guys like websites speculating future in common and all the possible development possibly coming then you maybe would like to check out
www.futuretimeline.net great site with lots of interesting stuff!
Great site.
Prediction: 2030 Fiat currencies no longer exist, all replaced by competing crytpocurrencies.
300.
Post 3712778 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.29h):
Blockchain.info:
"The past 7 days have been really intense, we've seen 70K new wallets created!" https://twitter.com/blockchain/status/404941777917837313How many of those people will have managed to get their fiat to the exchanges yet?
301.
Post 3713581 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.29h):
Well, I see healthy profit taking and weak hands shaken.
I wouldn't bet a significant amount on it going down significantly, but maybe I'm biased and just euphoric
Blitz, say with me: no 2011 ever again
In this moment, I am euphoric. Not because of any phony central bank's blessing. But because, I am enlightened by my intelligence.
"I am enlightened by my intelligence."
This ^^ on a
BTC T-shirt.
302.
Post 3728273 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.29h):
So you're on btc forum betting on btc price, but the bet is in fiat?
Countdown update: less than 3 1/2 days to 1000.
$50 away
No.
4 days ago I told everyone that judging by the correction in March, that this correction would break out and hit $1000 by Friday night. And I've just been reminding people to get on the north train ever since.
We are going to FLY through $1000 like butter. Wake me up at $1300-1400.
(then again, I might just be getting overconfident)
Looking at this daily vol is 3x normal levels. Expecting a sell-off of old coins once $1,000 is consistently breached. Profit-taking mostly and some weak hands.
Total Output Volume 3,943,461.85419935 BTC
https://blockchain.info/statsMight be choppy for a while, but that $800 level the medium-term floor.
303.
Post 3728977 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.29h):
304.
Post 3731916 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.29h):
Awesome. Now that you mention it, I do remember it hitting $1000 in Chinese exchanges, but this is way more exciting to follow.
Thanks for answering!
During that mania someone paid $3,600 per btc, which must be the world record so far.
305.
Post 3733432 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.29h):
Be cheerful guys, we just came out from a parabolic growth phase unharmed and without a bear market following a pop. On the contrary, we resumed a healthy upswing at a sustainable pace.
Now we need the infrastructure to catch up. Bitstamp and Gox cannot manage world exposure. I never thought I would say this, but best thing would be a big player buying Gox to build a serious and solid exchange.
Calling WU.
306.
Post 3760219 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.30h):
Please excuse my Question but what are those: 1e-8
in the mtgox ask/bid sales list.
Satoshi orders. Just ignore them.
307.
Post 3762446 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.30h):
on top of this i just saw someone post about a major Chinese state owned telecommunications company that started accepting btc on a previous page, $10000 is coming
So is winter. Aw, shit... I just looked out the window. Looks like 10K
who, what is that face?
308.
Post 3769875 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.30h):
BTC-China & MTGox in sync for the last 10 hours
Nice
This is perfect markets in action. A rare event. Both china and gox have zero fees so the arbitrage bots are working at their best.
309.
Post 3771523 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.30h):
The frenzied hypegasm of Bitcoin continues.
Last Week >$1000
Next Week >Gold oz.
310.
Post 3771891 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.30h):
The only worry I have is we're a market rather than an economy. We need to make 2014 the year when bitcoin destroys western union and is much more widely accepted for buying stuff. Remittance is the killer app.
What if Western union installed Bitcoin ATM's in every shop?
Fully agree. They need to do something quickly or they will be in major trouble because Bitcoin overlaps their core business model.
https://bitcointalk.org/index.php?topic=321719.0Western Union share price Oct 29th : $19.24
Western Union share price Nov 29th: $16.67
Ch00 Ch00 in reverse
ooch ooch!
311.
Post 3775424 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.30h):
Get ready ladies... Gox is about to take off.
Which way?
Up. It has just built another launchpad onto the stack of used launchpads.
312.
Post 3801908 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.31h):
It's hard to understand why NMC is traded heavily at all. Isn't it just for websites? With all that trading you'd think there are 1000s websites poping up every day. Can anyone point me to even see an NMC site.
http://dot-bit.org/How_To_Browse_Bit_DomainsLet us know how you get on.
313.
Post 3811911 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.31h):
Recently, Bitcoin market cap (i.e. total value of all Bitcoins issued) reached the $2 billion mark, surpassing small countries like Liberia and Guinea.
This should have been obvious.
isn't it $20 billion?
The authority for this is
http://www.coinometrics.com/bitcoin/bmixGo to the bottom of the page and select Full Data Table
Bitcoin is currently 71 in the world (out of 191 countries) between azerbijan and lithuania
burma at 12 million?
okay, who wants to go in with me and buy burma?
Hmm, you know what, that's actually an interesting proposition. It's probably hard to buy a country using national fiat currencies, no matter how rich you are, but with bitcoins... you just might be able to do it (i.e., pay out the government + military to leave the country / hand over control). Maybe we will see a brave new world of corporations taking over nations now that they have a financial vehicle with which to do it.
I know these comparisons are tongue-in-cheek, but just for those who are confused as far as I can figure you couldn't buy a country for its GDP. I mean, even if you COULD buy a country... you couldn't buy it for its GDP. It wouldn't cost that little. That would be like buying a company for its earnings. But as we all know stocks trade for a PE multiple. Makes sense because you are buying ALL future earnings output, not just one year. So I think a PE of 10 would be ok esp. for these underperforming countries...
So Burma could go for 120million... that's way too... well... hmm...
These comparisons are monetary base:
cash in circulation. So Burma's $12 billion is a fraction of GDP and that is a fraction of national assets.
Also coinometrics uses data from the CIA factbook, which clearly has major issues, probably produced by CIA chair-polishing nitwits - as the UK monetary base is shown to be the size of Belgium's which is like saying North Dakota has as much money as New York.
314.
Post 3815544 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.31h):
Mils have been used in several countries for thousandths of a currency unit
315.
Post 3817664 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.31h):
A reply of yours, quoted below, was deleted by a Bitcoin Forum moderator. Posts are most frequently deleted because they are off-topic, though they can also be deleted for other reasons. In the future, please avoid posting things that need to be deleted.
Quote
Oh, the 60GH single is blowin' on my feet
the $45 a day is also pretty neat
posting on the forum makes me feel very 1337
I never heard that tulips gave away free heat
blow me mods, seriously
Wasn't that in this thread?
If that deserved to get deleted my entire post history is about to disappear.
Indeed. That should go into the first book of Bitcoin poetry.
bitcoinity just switched to mBTC by default - awesome!
so dumb, switched it right back.
I'm not convinced that mBTC is a good idea. Seems like some people just want to fool the market and noobs into thinking that bitcoins are cheaper than they are. One thing about Bitcoin is that it is the first 100% honest money. If it costs $1100 for each coin, then so be it!
316.
Post 3817907 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.31h):
I'm not convinced that mBTC is a good idea. Seems like some people just want to fool the market and noobs into thinking that bitcoins are cheaper than they are. One thing about Bitcoin is that it is the first 100% honest money. If it costs $1100 for each coin, then so be it!
I think it's evolution, not just for the noobs. Unless you look at it as commodity, not money. When my friends ask me how much have I paid for something in BTC, answering something like 0.055 sounds geeky, but that doesn't serve a purpose.
I think its fine for websites and shops to use mBTC. But the exchanges are a different story. Google shares are $1050, Platinum oz is $1350, Berkshire Hathaway shares are $172k. Let's see Bitcoin pass this sucker:
http://finance.yahoo.com/q?d=t&s=BRK-A
317.
Post 3830471 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.32h):
Honestly it's mostly hype, Bitcoin isn't a serious transaction medium yet. I remember seeing an article proclaiming 6000 or 7000 sales through Bitpay on Bitcoin Black Friday as proof that we're a real ecosystem.
No, a couple sales per minute on a special day does NOT make a payment system worth $12-13B. That's like a fucking Girl Scout cookie stand.
We've passed Western Union at ~$9B market cap, and they process 28 transactions per second, every day.
Right now Bitcoin is a store of value. The value comes from Bitcoin's future potential as a currency and payment system. Lots of businesses will sign up because it's free and it saves them money; the hard part is convincing people to buy and spend bitcoins if:
A) it's going up constantly and they'll have more money if they wait, and
B) if the currency is extremely volatile.
We know A) will eventually resolve itself if the system grows to maturity. There is a limit to all growth.
The doubt was about B), and my doubts are disappearing.
Exactly how much aggravation, eye-gouging fees, delays, noise, fuss, AML rubber-gloving would someone get from WU if they tried to send $147 million on a Sunday night, across the planet, person-to-person, and wanted it to arrive in seconds, irrevocably confirmed in an hour?
WU is Dead Man Walking right now.
318.
Post 3833437 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.32h):
God it's hard passing that gold price. Better luck in the New Year.
319.
Post 3845342 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.32h):
Am I the only one completely unfazed by this drop? Perhaps it is a sign that I have been involved with BTC long enough to understand that what goes up must come down but will eventually go up again? As a newbie I pretty much panicked in April and was depressed when the price dropped after that epic rise but now it just feels normal and almost welcomed to have some drops. Corrections have to happen in the growth process I believe. The great thing I am seeing is that the drops are getting smaller percentage wise. Perhaps due to the larger number of holders and less whales that can manipulate prices?
No. Everyone else is completely unfazed as well.
Well damn. I thought I was just personally starting to become "cooler" to these swings. Apparently everyone else is as well.
Yeah, I am much happier now that Barry Silbert has our backs, ready to turn his firehose of fiat on any flash crash.
320.
Post 3847689 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.32h):
The daily charts look horrible - EMA violated, MACD down, parabolic sar flipped, RSI below 70. But it looks like perhaps we're still being supported by "choo choo mofo" trendline we've had since day 1 of ATH break. I wonder if this trendline could slowly drive us to ATH? This would probably be the last breakout since that trend would be moving too slow to keep up with any significant higher levels.
And meanwhile Stamp chews through $1000 yet again. Bitcoin chews up TA as well.
321.
Post 3848595 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.32h):
425 btc sell wall on bitstamp at 985
500 came in at 1002, and is moving down. Someone wants to exit.
322.
Post 3854449 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.33h):
Looks like a bug on the database end where it's stuck in a loop where the last transaction is contantly getting rolled back and transactions are being done all over again.
Yes, that is correct. Mark said on irc last time that it was a db rollback. Looks like he didn't bother getting the cause fixed.
323.
Post 3854553 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.33h):
Mt Gox now the lowest of all four major markets. It's going to go mental when it comes back online.
324.
Post 3887249 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.34h):
So why are the exchanges suddenly in step with each other?
I think the rapid movement down and then up has erased the markets ability to do finer pricing which takes account of fiat withdrawal delays, shutdown risk in each domicile, capital controls etc.
325.
Post 3887406 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.34h):
So, uh, why is Gox $100 higher than all the other exchanges all of a sudden? I really don't understand.
A whale panicked and splurged $2m that he should have spent a few hours earlier, instead of waiting for a drop.
326.
Post 3887767 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.34h):
This whole crash was bogus.
Felt pretty real (and painful) at sub-$600
327.
Post 3900726 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.35h):
Wow. Someone's desperately trying to push the price down.
I can see 1500 in the horizon and its not a mirage.....
If the 4 major exchanges all hit $1100 to $1200 again then it will be the 3rd occasion and bullish for another leg up. How many bubble top peaks ever end in a triple header? None.
328.
Post 3929429 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.36h):
MtGox really sliding down the ranks:
exchange volume % volume ฿ last price
bitstamp 35.9% 29710.3 865.4 USD
btce 29.8% 24640.5 848.0 USD
mtgox 24.8% 20525.1 902.5 USD
https://bitcoinaverage.com/#USD|nomillibit
329.
Post 3931480 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.36h):
The markets look to be treading air for a leg down. HOWEVER, maybe this news will perk the price up!
http://blog.coinbase.com/post/69775463031/coinbase-raises-25-million-from-andreessen-horowitz
330.
Post 3939816 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.36h):
China on the 15m chart is gagging to break higher
331.
Post 3940311 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.36h):
China looks for the 8th time like it might break the trend, but the latest move is on no volume.
I for one love the stability. We can hang out here for a couple of weeks and id be ecstatic.
just calm before storm. i dont see sideways for weeks at a time after that runup and drop
Check out this time in 2012 (also a run-up and drop Aug/Sept) stable Nov/Dec. End of year is a quiet time for all markets and (roughly!) sideways until Jan is a reasonable scenario
332.
Post 3946956 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.37h):
this is something that I can't wrap my head around. Isn't it enough that your bitcoins gain thousands of percent per year? I have few bitcoins and I'm happy with that, they will be worth a lot anyway if bitcoin will succeed. Why many of you have to have moar and moar bitcoins instead of just increase in value? When you speculate you are making volatile market and hurting bitcoin economy which is bad for all...
Human greed has no limit.
333.
Post 3955393 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.37h):
Of course with China anything is possible, we can all be wrong, and nobody knows what's going to happen. They have messed up all our TA and seem to have their own TA like 'the book of the path of the dragon'.
The Chinese dragon is ripping the faces off a few bears at the moment.
334.
Post 4083708 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.45h):
This can't be it, these are brand new coins...
It's probably a bunch of small transactions. As mentioned on reddit, the big 2009/2010 miners usually kept each 50 BTC block reward in a separate address, so it's possible the mystery whale moved them out in separate transactions for each address.
Could it be the FBI moving DPR's remaining 400k coins @ average 1 year old?
335.
Post 4083863 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.45h):
This can't be it, these are brand new coins...
It's probably a bunch of small transactions. As mentioned on reddit, the big 2009/2010 miners usually kept each 50 BTC block reward in a separate address, so it's possible the mystery whale moved them out in separate transactions for each address.
Could it be the FBI moving DPR's remaining 400k coins @ average 1 year old?
Possible, but that would probably spike the total transaction volume quite a bit. Seems to make more sense that it's a smaller sum but very old.
Also, I thought DPR had much less than 400k coins...
A hall of smoke and mirrors is clearer, but it seems he had as many as 600k and the FBI seized 25% of them in October.
https://bitcointalk.org/index.php?topic=307463.0
336.
Post 4084769 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.45h):
Wow. Thanks for that!
Now, all I wish is that the orderbook levels are completely shown like mtgox.
337.
Post 4099527 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.45h):
The daily chart on btcchina is building a hell of a base at 3700 ($608). While it could still fall off a cliff it seems a move to the next resistance at 5000 is also likely.
338.
Post 4206920 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.48h):
It'll be interesting to see how much pure hype can propel a fad.
It'll be interesting to see what happens when one of these altcoins collapses utterly and what kind of domino effect it will have and how far up the chain it will go.
This has already happened. Chinacoin was launched 6 months ago, difficulty soared, people sold out, lost interest, Cryptsy delisted it. Now it is back again and Cryptsy has relisted it. I think the alt-coins are here to stay, but whether any finally get widespread merchant acceptance is the big question.
339.
Post 4228368 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.49h):
Krugman
"they're confusing technology with monetary economics"FFS. He digs a deeper hole! Unlike transportation, medicine, film, music, agriculture, electronics, media, etc, etc,
monetary economics is the only sphere of human activity immune to technological improvement. Krugman is flapping like a fish in the mud with the tide out.
340.
Post 4231172 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.49h):
monetary economics is the only sphere of human activity immune to technological improvement.
That's a bold statement. Never really thought about it that way, but I'm not so sure I agree..
Where is it coming from? Could you explain it?
I would, intuitively and with not enough knowledge, say that technological improvement should somehow positively affect monetary economics. Why not?
Ah. You misread my post. I am summarizing Krugman's latest view - and disagree with it.
341.
Post 4233347 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.49h):
Regarding US capital gains changes, I doubt many hodlers are looking to trade in dramatic fashion tomorrow to avoid the 2014 hike, but I'm not Nostradamus.
edit: spelling error - holders to hodlers
I am under the impression that day tarders cannot possibly reduce taxes anyway by opening a new position and/or transferring coins offline. Is this correct?
The US capital gains changes took effect Jan 1st 2013, so it is 2014 which is the first return year. If CGT is to be saved then bitcoins would have to have been sold in 2012.
342.
Post 4247365 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.49h):
Good times still ahead. I just put this in the main discussion forum...
Bitcoin posts record annual gain: 5,317% in 2013Bitcoin has posted a record annual gain, measured in USD.
At the start of Jan 1st, 2013,
Mt Gox had a bid/ask of 13.45-55, or mid-price of
$13.50At the close of Dec 31st
Bitstamp and
BTC-E have 730.4-732 & 730-733, or mid-price of
$731.35(Mt Gox is not comparable because its US$ withdrawals do not take < 1 week, hence its bitcoin price is biased upwards).
Trace Mayer's statistics for
previous years, now with 2013 completed:
2009 4,867% (uncertain price discovery period)
2010 387%
2011 1,320%
2012 170%
2013 5,317%One observation is that, so far, odd-numbered years exhibit high-growth, while even-numbered years are consolidation/growth periods.
Even 170% gains in 2014 will be stellar. Happy New Year to all Bitcoin holders!
343.
Post 4247877 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.49h):
This alone is big news. All the PM stackers are going to see the word "Bitcoin" when they check out Kitco.
http://www.kitco.com/finance/bitcoin/#Global rank 2,329, US rank 949
http://www.alexa.com/siteinfo/kitco.com
344.
Post 4249065 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.49h):
I think he means 2014 will be the year when Dogecoin overtakes Bitcoin.
Why is the price of Bitcoin now 750 USD, rather than 0.75 USD or 75,000 USD?
Why would a business accept Bitcoin but not Litecoin, Dogecoin, or CitiBankCoin?
Would you store gold in a vault with a 10 foot thick steel door or a vault with a door made of plywood?
https://blockchain.info/statsLook at the bottom stat on this page. I means something very significant.
345.
Post 4249412 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.49h):
I think he means 2014 will be the year when Dogecoin overtakes Bitcoin.
Why is the price of Bitcoin now 750 USD, rather than 0.75 USD or 75,000 USD?
Why would a business accept Bitcoin but not Litecoin, Dogecoin, or CitiBankCoin?
Would you store gold in a vault with a 10 foot thick steel door or a vault with a door made of plywood?
https://blockchain.info/statsLook at the bottom stat on this page. I means something very significant.
Someone has to 51% one of these coins one day.
As soon as the Litecoin ASIC rolls out I expect several of the minor coins to get pillaged.
346.
Post 4258621 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.49h):
BTCGuild released 4 blocks in less than 5 minutes, very likely suggesting they are doing Selfish-mining.
This is BAD, BAD VERY BAD. No one is doing shit about mining corruption, currently expanding like a cancer.
I've been following the pools lately:
https://blockchain.info/poolsBTCGuild 28%
Today's evidence points to Corruption.
Ghash.io 24%
Proven corrupt. They sat at 33% just one week ago. These nasty cats are alert, and listening to people's disgust. On Dec 24 they switched off (I was watching the pools graph as it happened) 5% of their power which then instantly reappeared as Unknown. They either sold a part of are just masking it under another private pool. These last couple of days, another 4% chunk moved to (apparently) Eligius.
Unknown 19%
As stated above this secret lot grew by 5% a couple days back. I would assume even more of it is just Ghash's extra power, in hiding..
BROAD LARGE SCALE DISHONEST MINING CORRUPTIONWhy are so few people saying anything about this and even less doing something (I know there isn't a clear thing to do tho..)??
How many of the early adopters are in on this? Is this why this is being kept on the low?
We are sitting right now at 52% corrupt network....
You're too smart to jump to conclusions like that. Please study more accurate stats first:
http://blockorigin.pfoe.be/blocklist.phpKinlo's site checks each pool's websites where blocks are reported and shares paid out.
Blockchain.info attributes unknown/unlabelled blocks to the notifying peer. Remember that there can be many hops between two nodes in the netwrok.
BTC Guild have a long track record of honesty.
347.
Post 4318235 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.50h):
this is the now infamous "super-exponential" chart ... it has closer correlation with current price data 0.945 (than the simple log plot , 0.9) ... posted here
https://bitcointalk.org/index.php?topic=322058.msg4227238#msg4227238if we really are going super-exponential (and it is remote possibility if we are looking at step-change adoption event on the S-curve, akin to an algal population bloom) ... then
much mind will be blown.
And much 1MB block size will be blown too...
348.
Post 4318853 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.50h):
this is the now infamous "super-exponential" chart ... it has closer correlation with current price data 0.945 (than the simple log plot , 0.9) ... posted here
https://bitcointalk.org/index.php?topic=322058.msg4227238#msg4227238if we really are going super-exponential (and it is remote possibility if we are looking at step-change adoption event on the S-curve, akin to an algal population bloom) ... then
much mind will be blown.
And much 1MB block size will be blown too...
I don't know why but this super-exponential thing is starting to grow on me ... surely it is impossible. It just seems like the market action is more like reverting to trend .... seems like pretty solid gains than any bubbly toppy mania getting ready to plunge back into the abyss (i.e. back to trend)
My heart (and wallet) likes the super-exponential fit, but my head still goes with the straight-line on a log-chart. Perhaps it will bounce around between $800 and $1200 for a few more months. June/July seems to be "right" time for $1000 as a norm. It still leaves $2000 due in Oct/Nov this year.
349.
Post 4330750 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.51h):
This thread doesn't do walls of text. It .... must ... have ... PICTURES to analyze....
For posterity!
350.
Post 4337504 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.51h):
I know... China is often more capitalistic than the USA. Makes me sick.
The income tax is by many assumed to be unconsiatitional... The tax system is a mess. Tax laws are literately 10,000 pages long and the IRS more or less picks who they want to fuck with.
2013: 100 years of the Fed & 100 years of Income Tax. Coincidence??
351.
Post 4338041 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.51h):
There are about 25,000 coins left on all the exchanges put together. Just guesstimating -- didn't actually count them.
For about 40 million you could get a corner on bitcoin.
That's about 9 days of mining output.
SecondMarket, Exante and probably other funds are scooping up the mining output (those which are not kept for long-term by the miners!)
352.
Post 4360486 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.52h):
Is MtGox dead? Not moving on Bitcoinwisdom...
Edit. Back...
353.
Post 4402300 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.53h):
These markets are supremely boring right now.
They will get very fucking exciting if Ghash.io gets another 8% hashing power. It is currently sitting on 42% and climbing fast.
I was kind of hoping that Cointerra would ship soon and most would go to people in the other pools.
Those Ghash guys sure know how to scale up though.
354.
Post 4402413 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.53h):
These markets are supremely boring right now.
They will get very fucking exciting if Ghash.io gets another 8% hashing power. It is currently sitting on 42% and climbing fast.
Blockchain.info stats only show 38%. Did you get the 42% figure from somewhere else?
Look at past 24 hours chart.
This is much more accurate, but over 2016 blocks.
24 hours is too variable. I doubt their real share is much higher than 30.8%.
http://blockorigin.pfoe.be/top.php
355.
Post 4420136 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.54h):
Because nobody knows what the price is without China. China is responsible for the entire rise from $110. The silk road crash ended when China started buying. There are people who think even that the silk road crash would have continued lower without China, below $110, maybe all the way back to $60. Then China brought the price all the way up to $1250. For the past 3 months every exchange has simply followed the Chinese price like a slave. Now every time there is bad news the price just drops like a rock without any resistance. Then the price recovers because China started buying again - every time. People think "oh now China news has been factored in" but it hasn't. I STILL observe all exchanges following every movement of China like a salve - it is wired into all the bots and the strategies of all the traders - like an automated process. Anyone who thinks China isn't still leading is fooling themselves. So what happens if China is removed from the equation completely? Nobody knows where the drop would end, where real support on other exchanges would kick in, and what the true value is without China. It is some variable anywhere from $90 to $900. It is a mystery. Sure the news adds value but from what basis? Let's say overstock adds $50. $900 + $50 = $950. But also $90 + $50 = $140. Nobody knows so they are cautious.
A lot of your analysis is very good, but this is seriously off-track.
China was not the primary mover from $110 to $1242, it was SecondMarket and other investor/financial/Wall Street types tailgating on their initiative, plus the Vancouver ATM news. China added fuel to the fire. Say that China was 40% of the rally. Well, China is not going to zero, even after all the controls are in, it may contract 50%. So that leaves 80% of the mega-move intact. Then add Overstock, enthusiasm in LATAM countries, etc. The $800 level looks solid unless there is some seriously bad news like a major Western government trying a dumb "banning" stunt.
356.
Post 4420282 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.54h):
1) a lot of market participants are bearish simple because they are holding 1000% or more profits. so any bad news is a good reason to grab profits. ( this profit taking period feels like its almost over... )
One cannot claim a profit until the bitcoins have been exchanged for old money, merchandise, or services.
Ever heard of "paper profits" and "mark to market". Normal stuff in mainstream finance. Bitcoin is no different.
357.
Post 4422255 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.54h):
overstock is only in the USA right now.
it will be international soon.
This is where the real power of Bitcoin becomes apparent. Overstock should see international sales increase at a faster rate than domestic sales.
358.
Post 4440052 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.54h):
Upside target made before Overstock news still not reached. Buy more please.
Whats your target?
$880/$907 Stamp
Feeling iffy now. May need to re-assess....
You don't think it'll make it? Its already at $860
it'll make it,
if the resistance is not strong we'll be going for a new ATH
everyone HODL!
What about CHINA??? : D
China is cracked. Bitcoin doesn't care.
359.
Post 4455823 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.54h):
why the fuck am i selling i dont get it!
To buy back cheaper! That is the only reason..
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Post 4456164 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.54h):
Anyway anybody with half a brain probably gets it by looking at this chart:
...
Of course when you purposefully deny the possibility that what the economic collapse next week bloggers tell you is wrong you might choose to ignore it.
The long-term chart shows even more that fiat is suffering from each round of QE just as a heroin addict suffers each time he rides the dragon.
Yellen is a raving money-printer. No improvement in sight.
361.
Post 4537526 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.56h):
looking this picture, still having questions???
Yes. Question 1: Why stop at 2017?
Question 2: What will I be able to buy with 10,000,000,000,000,000 dollars in 2024?
1,000 loaves of bread? Think that this can't happen to any existing fiat given enough time?
362.
Post 4607076 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.57h):
but what if china is not what is keeping the market down? this has been my thinking all along...
what if bears are bearish for no particular reason
What if the bears are only
pretending to be bearish, scaring people to sell, so they can buy in cheaper as they are really all bulls!
363.
Post 4631081 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.57h):
Dogecoin... again... Can we somehow ban this word from this topic? All the time that shity coin...
Agreed. That coin is a toy.
364.
Post 4693079 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.58h):
This plays out one of two ways. If the PBOC allows loads of small banks and lenders to go bust then this is positive for CNY as money become scarce, prices (and assets) face downward pressure. Or, if the PBOC caves in (as usual) and prints a few more trillion CNY to bail out banks then this is negative for CNY as the system is flooded with more cash, prices rise, Bitcoin rises too.
365.
Post 4748388 (copy this link) (by solex) (scraped on 2020-04-04_Sat_11.59h):
For those who may not be aware.
As many have implied, Bitcoin economy has come under speculative pressure not only by new adopters of BTC but of Crypto coins in general. The "alt-coin" mining landscape have opened up the opportunity for speculative miners have taken up the mine and dump for BTC and then sell for USD strategy. This applies to both SHA256 or Scrypt "alt-coins".
Bitcoin / litecoin have been under pressure in the sense that many speculators have been trading them for the "Flavor of the Day" "scam coins" that have been popping up in the wild.
The return for miners to Jump on this strategy of mining is high when you factor what it costs to get 1BTC using traditional ASIC hardware.
Please review this link below.
http://www.coinwarz.com/cryptocurrency/?sha256HashRate=4500000.00&sha256Power=8000.00&sha256PowerCost=0.1000&scryptHashRate=50000.00&scryptPower=12000.00&scryptPowerCost=0.1000&sha256Check=false&scryptCheck=trueIt shows the type of return one could expect running a GPU operation at 50,000 KH/s and what you would get if you just mined and dumped every 24 hours.
With the advent of scrypt ASIC hardware seeming possible some time this year. I wonder how long this strategy will hold until 1 coin scrypt emerges winner.
Yes I may have let the cat out of the bag however I feel people should be informed as to what may be putting added pressure in keeping btc and its "network" at such an undervalued state.
Indeed. And bitstamp/btce are probably seeing steady sales of coins (via BitPay/Coinbase) because of the major retailers Overstock, TigerDirect, plus Zynga and Shopify who convert coins to fiat straightaway. So, until the customers on those sites are using newly acquired coins more than old coins the selling pressure continues.
366.
Post 4793680 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.00h):
Well, I didn't have confirmed sources back then.
This only confrms your genious mind.
I'm gonna have to put you on ignore as well. Buh bye.
Jeez Christ! You lasted out until page 4269!
367.
Post 4810183 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.00h):
I've stuck an order in the $600s for the humungous flash crash if/when mtgox finally turns turtle.
I put a withdrawal for 6.25 BTC 6 hours ago nothing on the block chain or anywhere.
The number of broken BTC withdrawal TX just hit 1700.
this is very very bad, folks....
368.
Post 4828199 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.01h):
Btw whatīs way scarier than the possible china ban is MTGox. It seems that their problems are gettin even worse.
A lot of the people havenīt heard from the support in the last 3/4 days.
Almost 30000BTC are stuck/lost in tx....
it seems to go up 10K every day
How can you view this?
369.
Post 4833819 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.01h):
Aware of it? LOL
There was a guy yesterday proving a minute by minute commentary on it.
Over it, more like.
lol, like gox really has 32k btc.
ponzi time, now not only with fiat but with btc too!
Wasn't their Bitcoinica holding around 32k?
370.
Post 4848096 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.01h):
Time to fondly remember the greatest proudhon moment. It occurred at the April 2013 peak, when he finally turned from bear to bull...
Well, if we made it to $266 then maybe I was wrong and the market is growing enough to sustain the growth.
Followed by a mass sell off by all.
371.
Post 4901892 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.02h):
someone just dumped 820 coins on stamp
maybe he misstyped the price into the amount of coins
yeah, I have done that before...
He want to sell 5 coins at 820 but sold 820 coins at $5
At least there were buy orders!
There was a buy order of 580 @ 816 which took the brunt of it.
372.
Post 4908626 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.02h):
Holy cow gox under 1000 volume.
Unfortunately Gox is dying slowly, First the drama in April with their trading engine lag, then the Fiat withdrawal problems and now the BTC withdrawal problems.
Gox has been the leader, a year and half ago they held more than 80% of the trading volume, now they lost more than 80% of their volume and I am afraid that they will have to fix all their problems ASAP or they will have 0 volume and then they will have just to shutdown.
but to be honest, if it weren't to Gox, Bitcoin wouldn't be at what it is at today.
Yesterday's volume at Gox of 1458 btc was the lowest since they started in 2010 (except the week they were closed in 2011).
373.
Post 4922214 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.02h):
nothing can stop us now!
374.
Post 4942043 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.02h):
I see the spread is decreasing, .. lol are people willing to hold dem gox bux again?>
It's not that Gox bucks are getting any better... it's just Gox BTC
becoming progressively worse. So the price of shitty Gox coins is decreasing when measured in shitty Gox dollars. Ironic, isn't it?
Correct. When the gox price falls to stamp price then the market will have priced in equal (snowball in hell) chance of extracting fiat or btc.
375.
Post 4947292 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.02h):
So... at the present time, is there ANY market that can be regarded as a credible source for the market price of Bitcoins, free of price manipulation by bots, falsified trading figures, or failure to honor transactions by actually paying the customer?
What IS the real price of Bitcoin nowadays?
average of bitstamp and btce is as close as anyone could get. $801 at the time of this post.
376.
Post 4964032 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.03h):
Wall at 850 gone not looking good at 850
Full blown gox panic. Coins that don't exist are super-expensive, especially at $825.
377.
Post 4966248 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.03h):
How come there's only $50 difference between gox and stamp? Been around $200 diff for so long now
Not only are Gox bux worth less than fed bux, but now gox btc is worth less than blockchain btc.
So diff closes.
378.
Post 4968341 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.03h):
Wow...did anyone bother to read my post?
Am I missing something or is it fine for an exchange to allow its users to place orders without funds to back them?
Gox has always allowed this but the unfunded orders should not appear on the public orderbook until they become funded, usually by a recent trade happening. This was a cause of the market lagging back in April because their software was checking whether orders were funded before executing. They optimized this.
Bitstamp recently introduced a nice variation, where a new order to sell is automatically created at a preset price after a purchase is executed (and vice-versa).
379.
Post 4970454 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.03h):
Wow...did anyone bother to read my post?
Am I missing something or is it fine for an exchange to allow its users to place orders without funds to back them?
Gox has always allowed this but the unfunded orders should not appear on the public orderbook until they become funded, usually by a recent trade happening. This was a cause of the market lagging back in April because their software was checking whether orders were funded before executing. They optimized this.
Bitstamp recently introduced a nice variation, where a new order to sell is automatically created at a preset price after a purchase is executed (and vice-versa).
Hi,
Thanks for the response.
I didn't know that was the case with Gox: their communication with me described it as a fault so I assumed it was not the norm. The orders do show up in BTCWisdom...I posted a heap of orders on the GBP/BTC market this afternoon, just to see how far it would go.
My experience on other exchanges (BTCe/Stamp/BTCChina) is that no funds = no order can be placed. So, I'm not sure I understand your second par. since on Stamp, if I place an order my available balance is adjusted accordingly.
Interesting that Wisdom is showing unfunded orders. These shouldn't be published by the exchange. I wonder if that is yet another recent gox glitch, one that has the "benefit" of making their orderbook look fatter than it is.
In Bitstamp, limit orders with advanced setting allows a 2nd price for auto-selling after buying or vice-versa.
380.
Post 4986773 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.03h):
Another monster coin move day. MtGox moving their private stash??
https://blockchain.info/charts/bitcoin-days-destroyed-min-year
381.
Post 4994622 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.04h):
1k wall on stamp
moved up from 710 just as it was getting nibbled.
edit: gone.
382.
Post 5029040 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.05h):
my sister says "the price dropping is depressing, if it drops any lower i'm selling everything" the bottom is real fucking close guys, if not already here
If gox actually does start releasing coins on Monday then the snapback will be monumental.
Of course, they might have taken the weekend off and will start Monday working on their software instead.
383.
Post 5032566 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.05h):
MtGox finally breaking the downtrend on the 4 hour chart.
384.
Post 5052420 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.05h):
BTCE HIT $102
385.
Post 5052489 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.05h):
TERA. Did you keep your low orders there??
386.
Post 5053136 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.05h):
$20 spread on MtFux, heart attack over, catatonia awaits.
Edit $30 spread. This is a dead parrot.
387.
Post 5065898 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.06h):
Overall i am amazed how Gox managed to fail so much over the years from the top1 exchange to a complete shithole.
How do you even ruin a business like that, it looks hard to do even if you try.
In 2012 when I first heard of MtGox I thought they had so much potential that they were going to be the next monster company like Google or Facebook. Instead they imploded like Flappy Birds.
388.
Post 5066013 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.06h):
Overall i am amazed how Gox managed to fail so much over the years from the top1 exchange to a complete shithole.
How do you even ruin a business like that, it looks hard to do even if you try.
In 2012 when I first heard of MtGox I thought they had so much potential that they were going to be the next monster company like Google or Facebook. Instead they imploded like Flappy Birds.
Just like bitcoin will implode soon and will be replaced by Ripple
Ah, I had forgotten about that thing. Did a quick search and found this:
Ripple is what happens when a turd drops in a toilet.
I think that image ^ explains what ripple really is.
389.
Post 5067599 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.06h):
No, nothing has changed much in the last week, but I think this year will see under $200
Check. All done. Seen that.
and over $1300 (actually I think $3-5k but that's a little optimistic I know) and this is just one of those bumps on along the way.
Waiting now
390.
Post 5086699 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.06h):
The way bitcoin trades has completely changed. There is this consistent amount of high volume buy orders and sell orders on the books on bitstamp and btce and all this buying for this huge amount of coins but the price doesn't go anywhere. If there was this much buying in November then the price would have gone to over 9000. When I watch BitcoinWisdom, I feel like I'm watching Litecoin.
Perhaps it is the side-effect of this from mid January (and they are now using stamp/btce not gox).
According to Navidan, almost 5% of eToros active user base (about 200,000 users) have open bitcoin positions at the moment. Users from South America, the UK and Germany are currently the top bitcoin traders.http://www.coindesk.com/etoro-launches-bitcoin-trading-3-million-users/
391.
Post 5086944 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.06h):
The way bitcoin trades has completely changed. There is this consistent amount of high volume buy orders and sell orders on the books on bitstamp and btce and all this buying for this huge amount of coins but the price doesn't go anywhere. If there was this much buying in November then the price would have gone to over 9000. When I watch BitcoinWisdom, I feel like I'm watching Litecoin.
Perhaps it is the side-effect of this from mid January (and they are now using stamp/btce not gox).
According to Navidan, almost 5% of eToros active user base (about 200,000 users) have open bitcoin positions at the moment. Users from South America, the UK and Germany are currently the top bitcoin traders.http://www.coindesk.com/etoro-launches-bitcoin-trading-3-million-users/Are you saying that the eToro platform integrates bitstamp and btce?
Yes, but only for eToro itself to balance its net position as the bitcoin traders there see it as a stock, i.e. a CFD instrument.
392.
Post 5094762 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.07h):
The way bitcoin trades has completely changed. There is this consistent amount of high volume buy orders and sell orders on the books on bitstamp and btce and all this buying for this huge amount of coins but the price doesn't go anywhere. If there was this much buying in November then the price would have gone to over 9000. When I watch BitcoinWisdom, I feel like I'm watching Litecoin.
Perhaps it is the side-effect of this from mid January (and they are now using stamp/btce not gox).
According to Navidan, almost 5% of eToros active user base (about 200,000 users) have open bitcoin positions at the moment. Users from South America, the UK and Germany are currently the top bitcoin traders.http://www.coindesk.com/etoro-launches-bitcoin-trading-3-million-users/still trying (failing) to catch up, but this excerpt from that article caught my attention.
"Orders for bitcoin on the site will be executed four times a day, which is more frequent than the daily order execution for equities on the platform."
what?
please tell me that this is not normal to wait for "daily order execution" when dealing with the legacy system. traders must be able to trade instantly, otherwise, it kinda sucks. why would you even sign up for that?
maybe I'm just not understanding what "daily order execution" means?
The "200,000" traders (if that number is to be believed) do not own any bitcoins on eToro. They can't deposit or withdraw. Their accounts are
CFDs. They trade instantly with eToro.
eToro must hold BTC in order to be risk neutral for its own book. The daily order execution is eToro, as market-maker, buying and selling on a Bitcoin exchange to hedge the net long/short position of all the traders. They must have their own long-term prop fund to use as well.
393.
Post 5094949 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.07h):
The "200,000" traders (if that number is to be believed) do not own any bitcoins on eToro. They can't deposit or withdraw. Their accounts are
CFDs. They trade instantly with eToro.
eToro must hold BTC in order to be risk neutral for its own book. The daily order execution is eToro, as market-maker, buying and selling on a Bitcoin exchange to hedge the net long/short position of all the traders. They must have their own long-term prop fund to use as well.
thank you. I did not understand CFD's. Now I do. seems a decent gambling book. prudent to step up their execution schedule when dealing with bitcoin, though they might want to go at least hourly... bitcoin likes to move it move it.
No surprise that CFDs are illegal in the USA, but invented and legal in the Wild West of Fiat (also known as London) where AIG's traders ran that company into a bankrupt state and JP Morgan's whale trader lost them billions too.
394.
Post 5096621 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.07h):
I get the feeling the market won't bounce until stamp restarts withdrawals, also that China is still watching gox thinking that it means something.
395.
Post 5105497 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.07h):
Bitstamp is trading exactly at medium-term equilibrium, ~$667:
Equilibrium Price = square root (Cycle High / Cycle Low) * Cycle Low
666.716 = sqrt (1163 / 382.21) * 382.21
396.
Post 5107671 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.07h):
square root (Cycle High / Cycle Low) * Cycle Low
666.716 = sqrt (1163 / 382.21) * 382.21
That could be more simply stated as sqrt (Cycle High*Cycle Low), that is, the geometric mean. Very nice. It seems it was around 115 in the earlier bear market, so we seem to be in an equivalent to June last year. Stable, but in need of shaking the last weak hands.
Yes indeed, of course. And I did notice that after the April peak it steadily became the "new normal" until the fundamentals ramped up markedly in November.
397.
Post 5111898 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.07h):
Grrr. They still quote gox on CNN
398.
Post 5112494 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.07h):
It seems like people are now able to withdraw BTC from both Bitstamp and Btc-e, multiple posters now confirming that they have done so.
Is this officially confirmed now?
If that's true... Can we expect big withdraws from stamp? I'm sure many will move their btc back to their safe wallets in case that error repeats... At least I will.
I'm leaving my trading stash on bitstamp, ready for a spike, just in case gox starts paying out and the scramble to buy coins goes mental.
399.
Post 5117891 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.07h):
When ZH first posted that article it had a title like "Why aren't Europeans buying Bitcoin".
Then they quickly amended it.
400.
Post 5128845 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.08h):
I would be really surprised if there is not a major bounce on gox from the $460 level, as this was the cycle low after the last ATH. It would also take the gloom off the other markets, particularly China who seem to think gox is still a benchmark.
401.
Post 5133137 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.08h):
402.
Post 5133458 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.08h):
$40 spread on gox!
403.
Post 5209308 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.12h):
Good evening. CCMF?
Yes, been watching that 3-day chart too. Looked promising until the last candle closed and now shows further weakness. The Ghost of Gox is spooking the markets. Need an exorcism!
404.
Post 5212345 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.12h):
i have no clue what you've all been trolling about, i've been a busy bee..
but CCMF sounds right.
with this new higher low, that bottom is looking solid.
we're seeing a rising price when the market isn't taking heavy fire.
1800$ in 14 business days?
i think so....
Hopefully, but is this your new $180 call which was only right after several months and the 10th countdown!
405.
Post 5227514 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.12h):
Yes, cavirtex is fine.
I also spoke by email with Eric from Bylls.com in Montreal this morning [this is the bitcoin-to-bill-pay service that allows you to pay your electricity and cable bill with bitcoins!!]. He says they have secured multiple banking relationships, so they are not affected.
omg why wasn't i told about this
Because it was buried under all the troll-garbage on here, unfortunately.
406.
Post 5230142 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.12h):
Sorry for OT guise, but just a quick question...
Can you buy fiat with BTC at these new ATMs? I cannot tell you how useful this would be for me.
You can with those Lamassu ATM's I think.
Not yet. The Lamassu only sells bitcoins. Robocoin allows 2-way conversion.
407.
Post 5233598 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.12h):
They moved all their servers without a trading halt?
408.
Post 5233757 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.12h):
409.
Post 5242483 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.13h):
All markets except gox seem to be edging up...
410.
Post 5244127 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.13h):
Is gox buying all the coins it can at $261.23 with invisible orders?
No wall at that price, but it catches all sells. Are they stacking up coins ready for allowing withdrawals..?
411.
Post 5245178 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.13h):
How the hell does Gox have a floor like that with no bid wall??
there is a wall
Just appeared in last 10 minutes, before that only bot fractions.
412.
Post 5248474 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.13h):
If they were going to begin withdrawals today they'd announce it early so they could be in the office to supervise the process for most of the day. If we don't hear something in the next couple of hours don't expect any withdrawals today.
Maybe but I imagine if they are going to allow limited withdrawals the whole thing will be automated anyway, no need for supervision.
Apart from topping up the hot-wallet when it gets hammered.
413.
Post 5249022 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.13h):
Gox is down.
Mark carrying the servers to his new office.
414.
Post 5255848 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.13h):
[14:55:45] <Delerium> the protestors (Kolin etc) were fine
[14:56:08] <Delerium> its the other people which have been really harassing staff and placing unknown objects in their mailboxes
hahahahha, jesus
LOL this is getting out of control....
Well, if they restarted withdrawals, even limited size, it would calm the situation including the "others"
415.
Post 5272302 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.14h):
I'm getting sick of gox. I just want it to disappear now.
416.
Post 5272357 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.14h):
I'm getting sick of gox. I just want it to disappear now.
Sounds like someone HODL!!!'ed when they should have SELL!!!!'ed.
I've been profiting all the way down! But run out of fiat at $602.
417.
Post 5272387 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.14h):
I was at the FiatLeak site, can anyone explain what's going on with the Chinese? It looks like they are in a frenzy to buy all the Bitcoins.
China messes with FiatLeak because its zero fee exchanges are 99% churn.
418.
Post 5289958 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.15h):
Enough about gox. Now for something new. A movie about BTC-e...
419.
Post 5291584 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.15h):
I was actually thinking that volume at every test of $530 was quite low. Even on the 9th, only daily volume of 70k. To me, looks like a local bottom only.
It has to be a local bottom because the cycle low was $382 (stamp) with a very high volume of 137k.
Seems a similar situation to July last year when the medium-term low was $65 (gox) but the cycle low was $50 already.
420.
Post 5291636 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.15h):
You guys think there would be any interest in metal "paper wallets?" like take the info and encrypt it so I can't see it, then etch or engrave into metal (something they won't corrode.)
Wouldn't have to worry about paper degradation or such then.
I would think so. I think the security thing has already been addressed by Casascius so you may want to check his postings.
Was discussed here:
https://bitcointalk.org/index.php?topic=135769.msg1446682#msg1446682
421.
Post 5294825 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.15h):
I guess the next question is whether $91.5 will hold otherwise you can put those double bottom pictures away.
Ain't the fucker dead yet (ref. MG, not MK, albeit...)?
Gox has joined the Walking Dead. It just keeps limping along chewing up any BTC holders in the way.
422.
Post 5310297 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.16h):
What's up with gox? orderbook very thin, volume flat, cage-fighters exhausted...
423.
Post 5311406 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.16h):
Let's see whether I got it right: someone noticed that MtGOX made a tiny transaction, which actually was like several others that they had been doing all along since the lock-in; a transaction which had nothing to do with withdrawals, and moreover was rejected by the network because it contained mined bitcoin that was too fresh -- a bug that MtGOX's software was known to have, and which apparently has not been fixed yet. That is why the market suddenly got excited and optimistic, and the price jumped up by 10% in a few hours . Correct?
What you are missing is the bigger picture inferred by this testing.
a) Markets don't like uncertainty, don't like seeing exchanges go under because what can happen to one can happen to another. Gox testing reduces uncertainty.
b) Gox testing indicates that they are trying to fix things, not escape with people's money.
c) Gox testing indicates that they might finish said testing and actually resume limited or full service.
The individual price ticks are meaningless, however, collectively, they are meaningful and sentiment might be changing.
424.
Post 5312184 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.16h):
MT Gox's green address used internally for customer BTC withdrawals is active for the first time in 2 weeks!
https://blockchain.info/address/1LNWw6yCxkUmkhArb2Nf2MPw6vG7u5WG7q5 million bitcoins have gone through this address in the last 3 years, so it is very significant.
425.
Post 5313400 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.16h):
I like that your activity is 420, and that your avatar is someone breathing out smoke.
Also....about to break through an important psychological barrier....5000! (pages on this thread.)
Choo choo motherforum.
Thanks.
Can't get too excited about that gox address just yet as the first decent-sized transaction since the Night of Goxxing is goxxed up, yet another double-spend.
I do believe it's Rachel from Blade Runner. Is that right?
Yep!
426.
Post 5326204 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.17h):
What are the changes we'll get that gox update on monday?
Well its Monday morning in Japan already, don't you think if they had good news, it would be released first thing in the morning?
No tbh. They seem to like 7pm announcements.
After writing the announcement at 10:30am
427.
Post 5326712 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.17h):
I do not understand the reasoning behind the bots on BSP. After a large sell there is always an equally large buy a few seconds after. What is the reasoning behind it?
Different people. A market is a always a fine balance between those greedy that it will go up and those fearful it will fall further.
Large trades are normally human-triggered. Bots do all the incessant micro buys and sells.
428.
Post 5328354 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.17h):
10k creeping down $600, then $595, scaring but not selling?
Wallosaurus going to smack the sellers which front-run him just before gox restarts??
429.
Post 5329391 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.17h):
Stamp. He say "MEH".
430.
Post 5329666 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.17h):
The market wants to go UP. That wall will get eroded faster and faster..
431.
Post 5331214 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.17h):
Something interesting is happening at the moment I think. Gox remove their tweets, relocate their office and that link few pages back saying "light at the end of the tunnel for gox customers". Maybe the exchange really is being sold to some more competent people? We'll see, we'll see.
Indeed, lot of stuff happened in few hours. Resignation from Bitcoin FOundation, tweets deleted, something's going on.
Mark really throwing his toys out of the pram.
432.
Post 5349856 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.18h):
You know that the 300 died in the end?
Ah, but they became
immortal afterwards. We are still talking about them 2,500 years later.
433.
Post 5352030 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.18h):
Clear water ahead now!
434.
Post 5377293 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.20h):
I guess I'm a little slow letting the news sink in. If 744K coins are really missing, nobody is going to bail out Gox. it's just too much money and the coins would have to be purchased elsewhere, driving up the price further. MK is delusional in thinking he can fix this. Nobody will make his victims whole. The coins are likely unrecoverable and the reason he has been so obtuse is because the magnitude of his failure is overwhelming. I feel sorry for him now. There is no possible redemption. No apology will suffice, and the cops are coming. The statement of remorse I was looking for will come at the sentencing hearing.
The missing coins have likely already been spent into circulation or have disappeared forever along with their private keys. Wow.
so why is bitcoinwisdom showing price movement on Gox?
Yes. The Prof is right. There is a possibility that 744k bitcoins have been
destroyed by MtGox if the private keys have been overwritten in its database. Does anyone know whether gox ever implemented HD wallets internally?
435.
Post 5377942 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.20h):
hmm is there any posts from virtex saying why?
https://twitter.com/cavirtexif you can find a reason there, please share it. I can't see the post history (probably 'cuz I'm blocking the scripts), but I'm not a twitter guy so I'm not sure how that stuff works.
They added LTC and it has caused some knock-on problems with their system.
436.
Post 5380741 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.20h):
I'm unsure whether it was menitioned before:
Every coin the thefts have withdrawn from Mt.Gox was somehow doubled in the past. It was most probably sold by the thefts _and_ it was blananced at the Gox user accounts.
So now there are a lot of people that have less bitcoins than they thought they would have a week ago.
you mean 7% of the coins "gone" = 7% price rise ?
If 7% of all bitcoins really are gone then the price rise would be more like 30% because the 7% were from the actively traded float, not from the several million hoarded and locked away in Arctic-cold storage.
437.
Post 5392758 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.20h):
stamp freaking out over senator news?
A senator that doesn't even know the difference between "weary" and "wary". Says it all.
438.
Post 5394977 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.20h):
Market looking bullish for the next push up. No appetite to re-test below 550. 5k disappeared off the stamp 650 asks
439.
Post 5396068 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.21h):
7,600 users active on reddit/bitcoin. Never seen that many before.
440.
Post 5396081 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.21h):
7,600 users active on reddit/bitcoin. Never seen that many before.
Frequent occurrence on Dogecoin/Reddit.
Ah. That doesn't count!
441.
Post 5397003 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.21h):
You can do it Bitstamp. Just $2 more. I believe in you.
Time for more pictures of trains.
442.
Post 5412053 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.21h):
Did mtgox loose coins? Yes.
Someone discovered that mtgox could be fooled by malled transactions, and retrieve their coins multiple times. That was the reason why mtgox coins were a hundred bucks higher than the competition. Two hundred bucks when this fact was leaked to other thieves....
No. Anyone who saw the 10k sell on bitstamp would also see that it made only a few flat lines in a much bigger trend. The price could not be pushed $200 for weeks.
The higher price on gox was the glacial fiat withdrawal issue.
443.
Post 5418173 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.21h):
Lol bitcoin tried to breakout to the upside twice, and failed both times. At least something is happening !
The market will always take it's own time to act. I think 590 is the major resistance. If you look at the 3-day chart, it is where the downtrend is presently set.
444.
Post 5439594 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.22h):
I want to know why, with a digital currency like bitcoin, the stolen coins cannot be identified and blocked from use. If the stolen coins could be disabled, then new coins could be automatically reproduced and restored to funds? Why does each coin not have a fingerprint of sorts? Maybe if this idea is antithetical to bitcoin, then another company could create a competing product that was in such a way theft proof, high insurance, etc.
Just wondering.
This would destroy Bitcoin's value. Currency has to be safe from censorship.. There has been many threads on the subject, Search for redlisting, whitelisting, blacklisting.
Consider a simple example. You have a 100 coin stash and pay 1 coin for a service, which turns out to be bad so you get into an argument with the vendor. Vendor checks your original transaction and sees a big change amount, and uses his influence to get your remaining coins blacklisted.
445.
Post 5441060 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.22h):
Nice upwards movement on houbi. stamp might break out of the downward trend in a few hours, cross your fingers though... its been several attempts...
I noticed that too. The markets may break the 7-week downtrend, particularly if 600 is regained and held for a day.
446.
Post 5470197 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.22h):
Monday morning fiat tide slowly washing in...
447.
Post 5472903 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.22h):
Can someone give me a brief background on the 2011 crash? Was it just a hack of Gox driving the price from $30 to $2 over an extended period?
The 2011 crash proved that the market is far bigger than any one player. The price went from <$1 to $30 very fast and corrected in a steady downtrend. MtGox was then compromised (apparently via accountant's login) and the order book sold down to zero. This caused volatility and gox closed for 8 days while accounts were restored. After gox came back he market continued the downtrend from where it was before the gox problem occurred.
448.
Post 5473173 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.22h):
Maybe his Monday Fiat arrived.
Don't underestimate the most bullish day of the week:
So what could happen Monday? Probability could give us a hint in addition to price action.
I have had debates with Bitcoin traders about trading on weekends. One postulated that because Bitcoin is the only financial instrument whose exchanges are open seven days per week that price should go up the most over the weekend with high volume. Another observed Sunday there is a steady rise before the Monday/Tuesday pumps before a Thursday/Friday selloff. The former is a logical anecdote; more hobby traders participating on the weekend because they have more time. The latter is a good observation.
But are these ideas profitably tradeable? Do the statistics agree and knowing them could we better time our entries and exits?
I broke down the data for BitStamp just using Daily Open versus Close. Basically; was the day UP or Down? To capture the data with the best relevance I used all days from 1/1/2013 onward. So what was the probability for each day of the week to close UP?
Saturday: 47%
Sunday: 70%
Monday: 74%
Tuesday: 66%
Wednesday: 68%
Thursday: 55%
Friday: 57%
When you consider that during this time Bitcoin has risen +6100% the probability is skewed to the upside. That means that even though Sunday and Monday seem to be the best days to go bullish is it wise to just GO on that day? Probably not; unless the charts back it up. What does stand out when considering the bias is the one day that fails to even break 50/50; Saturday.
449.
Post 5475313 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.23h):
Litecoin and ltc/btc continue to drop. Today they dropped a lot more than I would expect given that bitcoin didn't really move much. Do any experienced traders see this as a bearish sign for bitcoin? Is it possible that people are losing confidence in the market and therefore are selling alt-cryptos first before selling their bitcoin?
Litecoin is being crushed by Auroracoin. Loads of hashing power has moved across.
450.
Post 5475365 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.23h):
This reason
http://auroracoin.org/blueprint.php(I don't own any. Yet!)
451.
Post 5475639 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.23h):
Litecoin and ltc/btc continue to drop. Today they dropped a lot more than I would expect given that bitcoin didn't really move much. Do any experienced traders see this as a bearish sign for bitcoin? Is it possible that people are losing confidence in the market and therefore are selling alt-cryptos first before selling their bitcoin?
Litecoin is being crushed by Auroracoin. Loads of hashing power has moved across.
What on earth is an Auroracoin?
The mega pump and dump of the year?
The first attempt to displace the fiat currency for an entire country. A grand experiment which will prove very interesting, whatever happens. Let's just say that if it succeeds then it will be very bullish for Bitcoin too.
452.
Post 5493926 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.23h):
goxBTC-only holders now face a very difficult choice: replace goxxed btc with fresh purchases before the price goes to Mars, or focus on alts or give up on crypto completely.
453.
Post 5519940 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.24h):
Gotta hand it to Tera with his/her 666
667 is the geometric mean of the Stamp ATH and post-ATH low. It is logical for the price to gravitate there now that the gox-shock has faded.
454.
Post 5520229 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.24h):
Gotta hand it to Tera with his/her 666
667 is the geometric mean of the Stamp ATH and post-ATH low. It is logical for the price to gravitate there now that the gox-shock has faded.
I have a difficult time thinking that any of this gravitation of bitcoin price around 666 is natural... Surely we have momentum that whales and bots cannot control.. but some of these coincidences of gravitations are likely bot/whale manipulated... . Whales can keep us up and keep us down within a range... take for example the sell $700 wall on bitstamp... if the momentum seems too great, then that sell wall will get pulled and put at $720... however, in the meantime, the whale got his way to keep prices below $700 and then to move downward in order that he can buy new BTC at $666 from his $700 sales...
Nice deal for those who have the means to manipulate... I am ONLY resentful to the extent that I do NOT Have those means and that ability, yet if I did have those means and that ability, it is likely that I probably would use that kind of manipulation to make sure and easy money.
Yes, whales can make easy money, but I'm really skeptical about the importance of whales, unless it is a major holder like Exante or Winklevoss deciding to divest 100k coins in quick time. We saw a 10k sell wall recently and although the short-term impact was noticeable the effect after 24 hours was pretty much gone. It was news driving the volatility at that time, and once the news went quiet the market has reverted to longer-term sentiment.
455.
Post 5534034 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.24h):
Breakout early warning...
Yes, btce and huobi are building a launch-pad. Stamp still thinking about it.
456.
Post 5556764 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.24h):
Satoshi Nakamoto to the rescue: Knocks all the MtGox stories off the front pages.
(Dorian probably not him with writing styles so different).
457.
Post 5561991 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.24h):
I'm normally a perma-bull, but Satoshi waking up brings nervousness that his coins are more likely to move than before, when some people even considered that he may be dead and his coins were frozen long-term.
So, unlike the Dorian antics, the market may take a bit of a hit with the latest development. Retest of 600 possible.
458.
Post 5564650 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.25h):
So MK could probably pay back at least 30% of everyone's goxxed coins.
459.
Post 5579300 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.25h):
ya the only "evidence" she has is the fact that he fits the profile.
as for Nakamoto: "I can not do that." or "i'm no longer Involved", could very well be a slip of the tong / misunderstanding.
... still
I want to believe!
Not him. Dorian can't write as well, and would never have had the time to mess around with trains if working on Bitcoin too.
btw. Can anyone see this?
https://bitcointalk.org/index.php?topic=506152.0;topicseen
460.
Post 5579589 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.25h):
461.
Post 5612896 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.25h):
Involuntary takings are theft regardless of who is doing the taking.
Or how.
Taxation.
462.
Post 5613637 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.25h):
Involuntary takings are theft regardless of who is doing the taking.
Or how.
Taxation.
That is the obvious one. I was also considering inflation.
Yep. And to think that in 1900 both were insignificant for ordinary people.
I consider that it is only the explosive growth in science and technology, maintaining living standards, that such a deleterious economic system (inflationary fiat, FRB, debt-money, excessive taxation) has been workable. Thus far.
463.
Post 5648240 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.26h):
Here we go!
Trains, dead bears and rocketships time again.
464.
Post 5648820 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.26h):
Yes. So anything above $600 in April is a breakout?
465.
Post 5649181 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.26h):
I like you when you are feeling optimistic!
466.
Post 5688257 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.26h):
PBOC in China has hit out again at virtual payment systems. Can't stop Bitcoin but has scared investors in mainstream companies, also Huobi dipped.
http://www.zerohedge.com/news/2014-03-13/chinese-authorities-halt-virtual-credit-card-payments-tencent-yahoo-crashing
467.
Post 5757732 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.27h):
This is actually the worst order book (ratio) I have ever seen in Bitcoin. All of the gox orderbooks in apr-jul 2013 even at their worst looked better than this.
The problem is, in hindsight, how legitimate were those order books.
True, the gox orderbooks were probably 70-90% fake fiat and fake coins.
468.
Post 5759423 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.27h):
Looks like a spike down to $575 imminent.
China's slice of the total volume increased slightly from 88% to 89%.
Their zero fee exchanges can churn thousands more btc than normal fee charging exchanges. As you are a mathematician you will know that repetitive 0.2% slices will quickly whittle down any large amount being churned with a small probability of an edge.
469.
Post 5779973 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.27h):
Was the retest of <$600 a turning point?
Buyers keep the price ticking back up and the BTC markets all look like they want to break the 2014 downtrend soon.
470.
Post 5924303 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.29h):
bitcoin banned - confirmed.
Confirmed by whom? Proof or didn't happen, and not that shitty chinese news site that spread the FUD last time.
Tarmi is a known troll, dont concern yourself. Could it be legit? Yeah. But hes just a FUD spreader.
But do they have any real independent source?
http://www.cryptocoinsnews.com/2014/03/27/pboc-orders-all-chinese-banks-third-party-payment-processors-shut-accounts-15-chinese-bitcoin-exchanges-april-15th/
471.
Post 5925609 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.29h):
TLDR; A large percentage of a significantly large group of bitcoin users would sell in a short timeframe.
So these users immediately knew the news was fake fud and didn't sell?
472.
Post 5927983 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.29h):
OMFG, China FUD all over again. When will this shit ever stop?!?
It's so ridiculous, really. The only good thing about it is that I can buy cheap coins everytime.
When China's central bank come out and give definitive advice on the legality.
From what I hear, that is not how China works. They like a grey legal system so that no one can be completely sure where they stand. Means that anyone can be swept off the streets at the whim of the CCP.
473.
Post 5995372 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.31h):
Ouch! 4k dump on Huobi has spread to bitstamp and cleared the order book....
Final capitulation in China before the mind-set changes to the realization that this is the easiest time to buy btc for long-term storage?
474.
Post 5995539 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.31h):
The orderbook on Huobi seems to be getting thinner by the minute.
475.
Post 6014253 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.31h):
Be careful not to post any train pics.
Apart from your avatar
476.
Post 6031693 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.31h):
When the rally started it was about 4:00 pm in China, and it jumped just before 5:00 pm. Perhaps out of relief that bank hours were nearly over (they close at 5:00 pm it seems), and there were no bad news today?
yeah I think you are right. The risk will become less and less in the coming days. PBOC has had plenty of time to make an announcement.
as for more exchanges shutting down, we shouldn't hear that sort of news until April 15th.
Maybe it was this news about exchange
expansion!
http://www.itbusinessnet.com/article/OKCoin-Chinas-Largest-Bitcoin-Exchange-Raises-10-Million-Series-A-Round-3158277
477.
Post 6031837 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.31h):
Perhaps. But I understood that the investment deal had been decided back in December? What does "closed" means?
My understanding is that they signed the deal in December but have just completed the paperwork to secure, and begin to draw down on, the full $10m of capital.
"closed" in this context means no more investors will be accepted.
Odd that this gets re-announced just when banking restrictions kick-in.
478.
Post 6042172 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.32h):
Either way, I am done with you.
Beat you to it. I don't have a massive ignore list but this one was record quick for me, which is really something considering what comes onto this forum.
479.
Post 6042467 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.32h):
Ye thats probably the case, everyone still waiting for that "omfg what the fuck i cant believe its real"-bottom.
I am not sure it will appear this time tho, i think its about 70% possibility it will, but there is a chance it will be very slow and overall kinda "meh"
What is different about the recent peak is that, unlike 2011 and April 2013, there was not an exhaustion spike, but a gentle rolling over for the trend down. So yes, the same might happen in reverse at the low.
480.
Post 6046073 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.32h):
I think they knew they needed to be well capitalised, it was unfortunate there capital was stored on We-Funder and Gox. Again, we see the secondary impacts of the initial failures.
And now LMB will have further impacts down stream.
The only hope for Neo now is that someone like BitPay comes in and takes it over, which would further centralize BTC and is another nail in the 'libertarian' coffin.
So, wasn't Neo a form of bitcoin bank. You would think they could have held their own capital rather than leave it in the hands of others, and gox, what were they thinking?!
481.
Post 6049099 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.32h):
What does Wallzilla at $400 do if it moves up from here and doesn't come back!??!
482.
Post 6064501 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.33h):
Finally! Stamp starting to drag Huobi around now.
483.
Post 6088528 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.33h):
Based upon the monthly trend the market is oversold, and even a rally to $540 would be within the overall downtrend.
484.
Post 6103366 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.33h):
The daily chart on Stamp shows a launch-pad at $460 bigger than any other since the $675 level in December, from where it went up $300.
485.
Post 6105595 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.33h):
Milling herd outside the door,
One by one each bear turns,
sharp, eyes white with fear,
sees, the writing on the wall,
486.
Post 6119858 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.34h):
+1. Discover debit cards are great, but that won't reverse the most populous nation on Earth losing access to buy.
They can still buy using bank deposits, just not with money via 3rd parties. Similarly okpay, dwolla and aurumxchange were all stamped on last year by regulators in the West.
487.
Post 6121039 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.34h):
This feels totally diffferent then the last 2 drops to 400. Almost everyone saw those flash crashes coming and that it would quickly rebound within hrs, which it did.
Here we are in the low/mid 400's for over a week and there is no mad rush to buy coins at this insanely 'discounted' price.
Permabulls are hoping for a hail-mary pass, but i just dont see it, i dont think we've grinded this far down for not at least a vicious 400 retest.
Sharks are waiting in the wings patiently. 400 is key, if that breaks watch the fuck out, it could drop like a rock to the 200's. This market is dying to shake out all the gamblers who bought in at 1K.
That's exactly how I see it too, but Bitcoin isn't known for being predictable.
Bitcoin is a paradigm change. That's why it is not going to languish around $450 for a year. That might happen to a zombie dinosaur like Western Union (massively underperforming the S&P by the way), but not btc.
For interest:
http://quotes.wsj.com/WU/interactive-chart big drop the day after the Vancouver ATM and never fully recovered.
488.
Post 6121080 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.34h):
Not a single trade in Stamp in the last 17 minutes. The site is up. Is the trading API down or simply no one is trading?
Just getting a coffee
489.
Post 6122398 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.34h):
Has Huobi stopped trading? Fixing OpenSSL maybe?
edit: still going
490.
Post 6122765 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.34h):
If this ssl vulnerablility has been a problem since 2011, why should we be worried now? are hackers targeting every site?
It depends if Perfect-Forward Security was used, if it wasn't then yeah were in the shit. If it was used then the sessions from before a private key is stolen are safe. There is also no knowing who and how many people knew about this and also which sites actually had heartbeat set up. Furthermore you dont know if anyone has actually stolen the private keys yet.
2FA enabled, like authenticator, would prevent any major damage to an account. Passwords best changed though.
491.
Post 6133005 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.34h):
Greed may even destroy bitcoins most praised quality, its planned scarcity. I don't see what could prevent that.
Completely false, Jorge.
The greed for gold through history has far exceeded anything seen in the Bitcoin era. During the Spanish conquest of Mexico they were so greedy for gold that the Aztecs would pour molten gold down the throats of captured Spaniards.
Last I checked gold was still the No.1 form of money.
492.
Post 6133589 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.34h):
The miners decide what the rules are. Increasingly, that means ghash.io, discus fish, eligius, and btcguild. Biggest threat to bitcoin today.
Arguably, the mining situation is in its best state since before mining pools were invented, as the "unknown" is at a record 31.9%
http://blockorigin.pfoe.be/chart.php
493.
Post 6134278 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.34h):
I was just thinking about 2 hrs ago that this volume feels like the calm before the storm.
What if this is the calm before the next calm? When the forces are lined up on the battlefield, usually the first guy across the line gets his ass shot off.
The first bear across the line gets to ride the rocket to most profits.
494.
Post 6151926 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.35h):
the TREND IS YOUR FRIEND, never forget.
The trend is your friend
until the bend in the end!
Still surprised that the Chinese TBTF banks are closing bitcoin associated accounts, but the advantage is that it will draw a line under the China FUD when complete. Also explains why Huobi was making noises about wanting to expand offshore. Now they will probably want to fully relocate offshore. The big question now is whether Hong Kong is insulated from PBOCs anti-Bitcoin directives.
495.
Post 6167541 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.36h):
did we see bottom?
Surely.
496.
Post 6192263 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.36h):
Nice launch-pad building on Stamp. Unless PBOC spits out the dummy again we should see some fireworks by Fiat Monday.
497.
Post 6193896 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.36h):
Interesting that Adam's poll is just as polarized!
498.
Post 6207791 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.37h):
train pic
bears getting blowtorched!
499.
Post 6207909 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.37h):
http://hypron.net/bitcoinwisdom.htmlStamp, btce, huobi, bitfinex all go mental at the same time. Bitcoin is a beast to short and turn your back. Is billyjoeallen asleep?
500.
Post 6209129 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.37h):
To all shortists:
It is creeping up now. Please heed my advice and buy in. It makes me sad to know that you are losing money not adding fuel for the longs when you can do something about it.
FTFY
501.
Post 6220192 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.37h):
e) In 2014, price will visit above 500 = 30%
This is ridiculous. The price has been above $500 for
>80% of 2014 and is only 10% away from $500 right now. The odds that it will trade at some point over $500 this year must be more like 90% than 30%.
502.
Post 6224286 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.37h):
That was a pump and dump and those guys won't keep a single coin. They are just selling slowly to keep from price from tanking before they get all the way out.
You can't know that. It is a pure guess. The market is (was?) on a 4.5 month downtrend and thousands of people were watching to see a break in that medium-term trend. The rally may have been sparked by an opportunistic whale on Huobi, but it was enthusiastically joined by loads of people who are expecting Bitcoin to resume is normal multi-year trend. Maybe they are right, maybe they will be disappointed with another low to be plunged. It is the market deciding, not some grand conspiracy.
503.
Post 6241100 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.38h):
It seems so recent that all the talk was about BTC gravitating repeatedly towards $666...we need to get back to there
I agree... and that $666 pricepoint felt low at the time...
The geometric mean of the cycle high/low is now $628 which is where it is most likely to stabilize for a while.
504.
Post 6243111 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.38h):
I can see a retrace to $470 and that will be the last gasp saloon for desperate bears to save their skins
505.
Post 6262521 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.38h):
I think it can go as low as 460-470
Agreed.
If the market doesn't retest the $470s then it will be screaming to $700 before summer.
506.
Post 6273062 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.39h):
Bid/Ask sums on stamp becoming very bearish again after a short peak.
Im guessing if we dont see $550 soon we go back down. (Still HODLING since $390)
The orderbooks are so thin that it doesn't take much to do this at all. Subtract 2K from the buy side and add 3K to the sell side. Remember mtgox with the 200KBTC orderbooks where these types of amounts of btc were just irrelevant noise?
You are so right about the importance of volume but I am just not sure that MtGox is a valid benchmark anymore. Peter's theory that they lost most of their coins in the 2011 hack would imply that a lot of their 2012/2013 orderbook depth was, shall we say, "inflated".
507.
Post 6273141 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.39h):
I got my bid orders on 432
maybe it's a bit low??
Aa an EW analyst, 432 is in the range of wave one. if you ask me we will probably never see 431 again. but dont take my word for it. you need to have a breakout plan if you cant wait for your own targets.
432 is a bet on the resumption of the downtrend or a really bad news flash crash. 442 is a better bet and just may get hit leaving the uptrend in play, but only if 476 is roundly thrashed first with a sustained period of trading.
508.
Post 6288508 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.39h):
I made a call after the early 2013 $250 spike for something testing the $30-is 2011 highs, and I made this call after the initial post-spike low ($60-ish)?
Interesting analysis, however I believe that the 2011 $31 peak was retested but it occurred
before the $266 spike. The retest was during the mid-March 2013 chain fork which saw a sharp correction from $48. This is visible on the 3D but lost in the 1W chart.
Similarly, the $266 peak was retested on Nov 10th, visible on the 1D but not the 3D. There was an "air-gap" left in the mid $300s which has largely been filled by the recent dip to $339.
509.
Post 6292408 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.39h):
Do I need to tell the many ways in which the private keys of a victim can be obtained by a thief?
Please enlighten us.
OK, where do I start? You know what a 'computer' is? A 'program'? A 'hacker'? A 'trojan'? A 'key logger'? A 'hardware patch'? A 'memory dump'? A 'covert channel'? A 'malicious wallet software'? A 'pseudo-pseudo-random number generator'? A 'social engineer'? A 'disgruntled employee'? A 'naive user'?
And these haven't been used to illegally obtain
fiat on millions of occasions?
510.
Post 6300469 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.39h):
I wish someone would take a few months to gather all the predictions made in this forum and make a list of the best nd worst predictors
Lots of funky predictions here, some of which were right!
https://bitcointalk.org/index.php?topic=193526.0
511.
Post 6315676 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.39h):
...
Only a few more weeks until Dogecoin overtakes Ripple.
http://coinmarketcap.com/
512.
Post 6315899 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.39h):
yeah, talking about marketcap with crypto is quiet meaningless to me. Real question about Ripple don't you think you may be wrong about it ? I mean well known economist are part of the team now
https://ripple.com/blog/welcome-susan-athey-to-ripple-labs/and they are still hiring and working hard on the protocol.
Bad trolling appart , what do you think ?
Yes. Saw that item about Athey, and agree that the value of XRP is not massively important. I remain unconvinced about the trust model, and the utility of its gateways. It works, but does it have the potential of even NXT or Etherium, let alone Bitcoin? I will watch longer before investing in XRP.
513.
Post 6316430 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.39h):
Looks like we may be headed downward soon. Huobi is slowly inching down.
I think you are looking at the price chart upside-down.
514.
Post 6363741 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.40h):
A breakout from this 1-week softening trend is also a decisive break of the 5 month downtrend. Next stop $600.
515.
Post 6384469 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.40h):
We have breached 472.50. If we continue lower, the next major supports are at 454, 400, and 355.50.
If there was supposed to be support at 472 and it didn't materialize, why in the world would you believe other magic numbers will work?
Indeed. How well did this
magic random number work out?
OK, you folks ready? Recommend shorts close now at 492.
516.
Post 6388853 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.40h):
podyx. Did you move your $432 bid to $442?
517.
Post 6389403 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.40h):
As coins steadily exit China the orderbooks on the local exchanges get thinner and thinner, eventually Stamp and btce will lose interest and disengage. Both are already higher than Huobi.
518.
Post 6414774 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.40h):
Agreed with dnaleor & Adam, but not until the long-running ChinaFUD soap opera concludes.
This may be during May, but only when the global price has adjusted to reflect that CNY transfers to/from the China exchanges are severely and permanently crippled.
519.
Post 6420154 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.40h):
I agree with you, the price is not going to "crash" to 400's level, however I can sense fear in your posts, I remember once you telling us that you don't do bets because it is illegal in your country and a past experience you had when someone reported you to authorities. but here you are now betting "again" I find it hard to believe or trust you anymore.
I can sense fear on this thread.....this will be my last post in this thread, I will still post in this forum occasionally if there is a need, but most likely not on the speculation forum....
good luck to all of you.
I don't care if the price crashes below $400. The problem is if it
stays there. BTCE and Bitfinex have already flash-crashed to $100 this year. So spikes are always possible, it is the overall trend which is important.
520.
Post 6427125 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.41h):
Here is a thought experiment: imagine that tomorrow everybody somehow "knows" that the price of bitcoin would never increase, but that the price of bitcoin would never decrease either. It is simply a fact that 1 BTC will forever buy the same basket of goods. Would you expect world-wide demand to hold bitcoin to increase or decrease?
Increase, by a large multiple!
Bitcoin is more useful than fiat currency, and as its value would forever be stable against goods (like gold's value is, even though gold cannot be transacted), there would be no risk in holding bitcoins. I would imagine that perhaps 10,000x today's number of bitcoin would be demanded by the market.
Exactly. Bitcoin is not going to drift toward zero like Worldcom while the fundamentals are incredibly strong.
http://www.reddit.com/r/Bitcoin/comments/243upz/coinbase_has_hit_12_million_consumer_wallets/ (Coinbase has hit 1.2 million consumer wallets)
521.
Post 6431002 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.41h):
People's Bank of China ...
even the name sounds like FUD, which fucking "People"? commie fucks.
Yes, the "People's" bank means a bank operating for the rulers against the people, a weasel phrase just like "FCCs Open Internet Rules" or the "Trans-Pacific Partnership" masking the intention to do the opposite action.
522.
Post 6431502 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.41h):
The explanation I can think of for these middle-of-spread trades is a buyer and a seller (perhaps the same person) agreeing to post matching orders at the same instant at that price. Such "rendez-vous" trades could be a way to launder bitcoins and/or money in a way that would be difficult for the police to trace, even if they had access to the deposit and withdrawal records of all the exchange's clients (which the exchanges presumably provide).
No. The explanation is that OKCoin is faking volume (to make themselves "more important") with an exchange controlled bot acting within the spread.
523.
Post 6447899 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.41h):
The 30 min chart on Stamp is looking like a downward red staircase today...as much as I like cheap coins, I am anxious for a turnaround.
zoom out to the 6hr chart. To me it just looks like a series of lower highs and lower lows since January. And I see no signs of a turnaround any time soon. (not that bitcoin needs a reason).
From that chart it looks to me like we would at least need to re-test the 330-340 range on stamp before seriously turning around.
by the way, does anyone know the price that the Winklebros bought in at?
They claim they
started buying in high double digits. I don't think there is a whole lot of respect for them on Wall Street and I doubt any major players are going to jump in until it's more obvious that Bitcoin is a self-sustaining phenomenon.
I recall a YT interview which gave the impression a lot of their buying was around $10 to $12.
524.
Post 6450643 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.41h):
Huobi is certainly on a little rip. Any idea why?
Stamp too
Anyone all in fiat? Might get expensive..
525.
Post 6451083 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.41h):
526.
Post 6464440 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.41h):
something is happening, this market buy/sell volumes are not normal
Price instability is the sign of a trend change.
527.
Post 6465071 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.41h):
when was this? this is the best news Ive seen for months!
macdonalds has the publicity to make bitcoin a common word, and as a bunch of crooked corporates they have vision to monopolise, increasing the value heaps. imagine if macdonalds would offer discount for paying with bitcoin
everyone would try it out for fun!
its probably a prank.
Yeah. It's a TA "tight ass" formation photoshopped onto a burger sign.
528.
Post 6467806 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.41h):
Why is this not going below 400 or worse ? Here we are sitting like a rock at 440, which was unthinkable back in january.
Is there
any genuine short-term bull case, besides rockets and slogans ?
I'm a tired bear, been at it for 5 months now, and tbh im worn out. I want to close my shorts, but i've gotta play the market. I see no reason to buy before May 10, and/or whatever deadline comes after that.
I'll be needing some Bull rehab after this is done.
The longest bear market was June-November 2011, some 163 days. The current downtrend is 151 days assuming it is still intact and did not bottom out at $339 which would be 132 days. So maybe the trend is as worn out as everyone watching it. Won't be obvious until a decisive breakout is seen which is a return to the $550-$600 area.
529.
Post 6469025 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.41h):
China is launching
530.
Post 6469101 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.41h):
You know how it will end. In a dump or in China FUD resulting in a dump. I wish i could be excited as well.
Yep. You are right.
531.
Post 6471413 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.41h):
For me, this site has been frozen for at least 6 hours. I think it has stopped updating.
532.
Post 6471818 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.41h):
533.
Post 6484783 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.41h):
Ah. I remember that monster. The best time to use it is in the middle of the night when there aren't many cars!
534.
Post 6488128 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.42h):
Wow, Stamp hit $460 almost an hour ago when we were screwing around. I almost owe Adam an apology if you take a very loose interpretation of the term "moments away".
Adam also called out $425 as a great buy which is an entry point nicely in profit now.
535.
Post 6565975 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.42h):
Looking at a China-bounce around 2500 which might be good for a quick buy/sell.
536.
Post 6604879 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.43h):
The ChinaPUMPTM is on full throttle.
Question is when the manager of City Wok calls for ChinaDUMPTM
537.
Post 6619499 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.43h):
I am very puzzled that there is a company willing to take over Mt. Gox. Mt Gox's assets are MINUS 650,000 BTC and perhaps MINUS 20-50 millions $. Their only other asset is their "reputation".
Can anybody sane could be willing to pay 650,000 BTC for Karpeles exchange's reputation of being scammers and possibly thiefs? Or their buggy, obsolete software without even production version?
Sunlot want to pay 1 btc, not 650k btc. They want control of the supposedly 200k btc left (assuming the private keys can be extracted from MK) which would be used to restart the exchange with the intention of paying 650k back to all those who are owned money. That would take years of exchange profits. Color me surprised if 2 years later the 200k is spent and only a tiny fraction of 650k is earned back for disbursement.
538.
Post 6826647 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.45h):
$400 is too cheap for a bitcoin, just as most of us thought.
539.
Post 6868504 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.46h):
This is fiat moving back from the banks to the exchanges once they saw the reversal taking place. Hold on boys, this is just the beginning.
Excellent observation.
Everyone has been watching the clear downtrend all year and now it is finally broken the buyers are returning in force. Many of them did not leave their fiat on exchange so this upward pressure will last some days. Monday should be monumental.
540.
Post 6884992 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.46h):
Has China banned Bitcoin this week yet?
I heard China banned Windows 8 this week
if this is true, it's a real blessing to the Chinese people.
I hate 8
Damn right. Only recently I became a Mac user. I still keep a PC with Vista running but I will never move to Windows-NSA-spyware-8.
541.
Post 6892515 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.46h):
I am still holding my ripples, i think huge pump is just around the corner..
It needs more than just a pump, much much more, ... like 17 million volts in the neck of that Frankenstein's corpse.
542.
Post 6923523 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.46h):
Money is finally hitting the exchanges. This could get nuts..
Are you saying new money is hitting the exchanges? Or people that have money on exchanges are buying? If your speaking of the former, how do you know?
No money arrives on a weekend. People with money already sitting on the exchanges are buying now, probably because they have given up waiting for another major dip and want to be on the train before fresh money arrives Monday.
543.
Post 7026799 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.48h):
<censored>
SecondMarket is buying up 1000 / 28,000 = 3.6% of the new bitcoin supply on a regular basis. Without the word "not" your bolded statement above is equally valid (and equally biased):
they are big buyers!
Please people, stop quoting that guy. He consistantly gets "facts" completely wrong. I don't think he's stupid, so he must be doing it on purpose, ie trolling.
Second Market has bought over 100,000 bitcoins. That makes them in fact one of the largest buyers in the world.
Yes. JS is the worst kind of troll: one that speaks with an academic and level-headed authority but wastes no opportunity to stick the knife in. Why does he spend so much time on this forum when he could just get a life and wait until (he hopes!) Bitcoin crashes and burns, and then come back here laughing and gloating? The reason is extreme butt-hurt of the first order by missing out buying in at $1 a coin. Now the strategy is to talk (troll) the price down which has the dual goal of punishing all those who did get in early, while possibly enjoying a new chance to do the same at 2010 prices.
544.
Post 7504352 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.55h):
what is happening now is a rally between holders to sell without causing any panic, the book order is really thin with few thousands BTC at the Bid side while there is more than 12 million coins out there, do the math.
11 million as Satoshi is in for the long haul.
Auction is only two days away, so it is quite feasible that coins are being dumped to depress the market "reference" price ahead of bidding.
545.
Post 7890106 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.59h):
I stated several times, and repeat again: I do not see how one could make any fundamented prediction about the price of bitcoin, even in the short term. I would not hazard making any. It may go to 6'000$ next week, or it may go down to 6$.
All one can say is that, if this or that event were to happen, then the price could go signifcantly up or down. But none of the events that we can think of is sufficiently certain to happen, and other events may happen that would have the opposite effect.
My bear-masked estimates are
LET'S GIVE PROBABILITIES TO THE FOLLOWING EVENTS
a) In 2014, price will visit below 100 = 40%
b) In 2014, price will visit below 200 = 60%
c) In 2014, price will visit below 300 = 70%
d) In 2014, price will visit below 400 = 80%
e) In 2014, price will visit above 500 = 30%
f) In 2014, price will visit above 750 = 5%
g) In 2014, price will visit above 1000 = 1%
h) In 2014, price will visit above 1250 = 0% (for practical purposes)
/LET'S GIVE PROBABILITIES TO THE FOLLOWING EVENTS
Is there more than one Jorge??
546.
Post 7906185 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.59h):
Quirky shit on Huobi again and stamp depth screwed up on bitcoinity. Me thinky someone screwing around with da interwebs, that kind of thing could cause bots to do crazy things. Who could screw around with data feeds though? I doubt a basement dwelling script kiddie could do it but ISP's and anyone with access to them could.
EDIT:
What's with that glitch on Huobi displayed by bitcoinwisdom? Volatility with very little volume?
Idk, 40 coins somehow went through 1200 coins worth of depth :/
That was a glitch in the Matrix, happens occasionally...
547.
Post 7915638 (copy this link) (by solex) (scraped on 2020-04-04_Sat_12.59h):
Nothing like another euro-banking crisis to add some fuel to the fire.
http://www.zerohedge.com/news/2014-07-18/holding-company-portugals-2nd-largest-bank-just-filed-bankruptcy-protectionUnlike March 2013 when few Cypriots were aware of Bitcoin, the safe-haven meme should have spread much further within Portugal by now.
548.
Post 7979422 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.00h):
Which is the pertinent entry on Jorge's CV?
1. "Frequently cited expert in international cryptocurrency economic forums."
2. "Respected contrarian in world of digital commerce."
3. "Regional strong man protecting the vulnerable from off-shore financial predators."
None of the above.
He's an indefatigable fudster who can't stand to see other people grow rich when he was too late to get in before the train choo choo'd.
549.
Post 8110023 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.02h):
Argentina defaults!
Debt defaults are
good for fiat currencies because bankruptcy is the cleansing mechanism of fractional reserve banking. In the case of sovereign debt there are different scenarios based upon whether the debt is in domestic or foreign currency. Argentina has shown that it will print any amount of pesos to pay off government and financial sector debts - denominated in pesos. The problem here is that it owes dollars and can't print them. The Federal Reserve can print dollars, and could bail out Argentina, just has it has done many stealth bailouts of foreign institutions since 2007/8.
tldr; if the Fed prints dollars to bail out Argentina then this is good for Bitcoin. Argentina defaulting shows this is not happening, so should be btc neutral.
550.
Post 8114882 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.02h):
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!
You're joking with us right? Surely you have more than one.
I had 2 but i sold and bought about 6 times in the last days. Always at the wrong time.
Just like now. The minute i buy we crash again.
You should turn your screen upside-down. Be rich in no time.
551.
Post 8171242 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.02h):
Looks like the volume-pumping willy-bot on OK Coin is switched off.
552.
Post 8206426 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.03h):
BTCE, Huobi and OKCoin have built launchpads, Bearstamp waking up...
553.
Post 8210066 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.03h):
Following with great interest!
Until now, I just assumed this idea was wishful hype. But after reading JR's article I can see that it is genius, and must be the route forward for all Bitcoin ATMs in the future.
554.
Post 8270334 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.03h):
I keep coming back to that breakout because it is pretty much the only major event since last October for which I do not know of a cause that would justify the traders's sudden change of mood. (There was one other surge this year, Mar/03 IIRC, I never found a convincing explanantion for.)
This is the problem in your assessment. Traders do not drive the market, they
ride it. Traders put the spikiness into the charts, but the real-world ecosystem fundamentals drive the long-term trend. The breakout in October was from fundamentals and is the reason for all the major moves.
Fiat is dead long-term. That is where technology is pointed and, despite everything that has happened in the world in the last few hundred years, technology has always gone forwards. This includes the replacement of CB money with cryptocurrency. There is still some debate as to which crypto will be dominant, and you might prefer
SweetnessAndLightFaircoin to prevail, but that unless one appears which is so good that it overcomes first-mover momentum: then Bitcoin is No.1 and will remain so.
Gavin has written a brilliant piece describing how Bitcoin can soon scale up to VISA-like size. The writing is on the wall for the legacy systems. The mega-trend remains UP.
https://gist.github.com/gavinandresen/e20c3b5a1d4b97f79ac2
555.
Post 8270799 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.03h):
Thanks a ton for that link! There was a short discussion in the "gold collapsing" thread about block propagation and invertible bloom lookup tables (triggered by
gavins slightly mysterious tweet) that raised questions. This piece (indeed well-written) answers most of them. That IBLT is an amazing data structure, btw.
Still kind-of open question for me (also touched on in that gist): what does this do to incentives?
Yes. I was really pleased to see his write-up!
I think the incentives are much improved. The use of IBLT blocks means that miners which hide transactions (like double-spends) are disincentivized to do that because if they publish an IBLT they are relying on the rest of the network having all the transactions in their own mempool and not having to look for missing ones. IBLT blocks which have the best propagated transactions are most likely to win the race to get accepted and built upon. It is a win-win paradigm improvement.
556.
Post 8304523 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.04h):
I think all the news we see/read around is the reason why we are still at this level, the November bubble came really unexpected and we were overbought in all ways, the infrastructure is just catching up to this price level, but hey I could be totally wrong, supply and demand have a strange way of working.
I keep remembering that WhatsApp is valued at $16bn, and is a piece of junk compared to Bitcoin, valued at $7.5bn
557.
Post 8342310 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.04h):
I didn't think we would see this last bear trap before the next bubble.
I think we were spoilt with 2 bubbles in 2013, so maybe zero in 2014 evens things out...
558.
Post 8343954 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.04h):
FIX is like JSON, but is more optimized, and was specially designed for financial transactions and instrument static data. It is used by all the major banks for client links, and most equities and derivatives exchanges offer it as well. A Bitcoin exchange offering a FIX interface makes them more attractive to mainstream institutions.
http://en.wikipedia.org/wiki/Financial_Information_eXchange
559.
Post 8361260 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.05h):
i wana see 520 again b4 i sleep. aw its talking to long...
That didn't take long
560.
Post 8407168 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.06h):
The majority on the poll were right.
Hmmm but will it hold?
I think back to the July 2013 post-peak low of $63. At the time it was last chance saloon for people to get in at that level. The question now is whether the recent dip into the $400s is a similar situation...
561.
Post 8413741 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.06h):
I wonder if my prediction of 460-450$ will hold
$450 is massive support. It has to have a major bounce there, even if it trends lower after that.
562.
Post 8450187 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.07h):
who votes 10 in a time like this?! ( pretty sure you're doing it right... )
The hash-rate is going mental, a few hundred million dollars are pouring into mining power. Gavin has outlined a concept (IBLT blocks) which makes Bitcoin far more scalable, the price is crushed low - the only way now is UP!
563.
Post 8519360 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.08h):
ah dang TA says sell all now b4 it crashes 1/2 a percent.
Wait for a retest of $530. If it does that, then back to $600+ we go.
If no retest, then a few weeks plumbing the depths of $400 is in store...
564.
Post 8665575 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.10h):
Looks to be bubbling nicely, and close-your-shorts or lose-your-shirt time...
565.
Post 8739085 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.11h):
Low volume dumps. We either haven't seen anything and worst is to come or there is no much will to sell at these levels anymore.
This is the mystery of markets, sometimes the bottom is a flash crash low, sometimes it just slowly turns up on low volume and never comes back.
I remember in March 2009 closely watching the S&P 500 future track lower and lower. It hit 666, and it just gently crept and bounced higher, there was no clue that this was the screaming buy for the next 5 years. On the way down there were many retraces, but finally one of them was the end of the bear market.
566.
Post 8786857 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.12h):
Why do you feel compelled to spend so much time on a forum dedicated to Bitcoin if you aren't interested in how you can use it to your advantage?
He writes articles about Bitcoin, including paid ones. Being here makes him and others think he is specialized in Bitcoin, or something like that
(1) I am a prof of computer science and I am supposed to understand computer things. (2) I am really bothered by people "selling" bitcoin to ordinary folk as an hedge against inflation, fantastic investment, etc.. I view such marketing as a scam, and I consider to be within the obligations of my job to alert the public (who pays my salary) against that scam. (Fortunately, that marketing does not seem to have had much result yet, and seems to have become more discrete.)
I do not write paid articles. On the other hand, most of what one finds in the net and other media about bitcoin, if it is not just press releases, is written by bitcoin owners, who have an obvious vested interest in pushing bitcoin.
So on which forums are you relentlessly warning people off "investing" in Brazilian Reals? As far as I can tell they are bigger and worse "scam" than bitcoin, by your own logic.
MoA - Absolutely right. JS deserves a medal for packing the most errors and twisted half-truths ever into two paragraphs.
Anyone selling bitcoin has to
buy it first. Bitcoin is 50% computer science and 50% economics. Bitcoin has been relentlessly attacked on the net by many writers, JS should slum it out with the buttcoiners instead of here.
If he is really bothered about something then it is far more worthy to be bothered about how the Brazilian govt is levelling the Amazon rainforest.
567.
Post 8809566 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.12h):
holy moly shorts are DOWN nearly 50%
i guess the wall coming down was shorts covering.
For the first time in a while on Stamp, the ask sum is less than the bid sum at +/-$30 from the touch. Sentiment is changing!
568.
Post 8857899 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.13h):
so yet again someone puts 2k+ coins on Stamp and Finex and pushes the price down on Huobi, who the hell can afford to sell 5k coins every few days for weeks? It's like he waits for the last batch to clear to the bank before selling another 5k+
Miners. They make 6 * 24h * 25BTC = 3600BTC/day. They have to sell them to cover the cost of electricity + equipment.
Yes. I think this is a factor with the development of huge asic farms.
BitFury are supposedly dumping what they mine. Their hash rate is up >60% in 1 month.
This, plus the bitcoin-accepting merchants which convert to fiat immediately (while old hoards are spent more than new ones built up), create the downward pressure at the present time.
569.
Post 8975010 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.16h):
Waiting for Fiat to hit the exchange 
Watching price crash Yep. I expect that PayPal's grab for some of the Bitcoin action (indirectly at first) is a response to the Apple Pay rollout, and that most of the fiat ready to trade on this event will hit the exchanges next week.
570.
Post 9032675 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.17h):
That there still are people here who say this is normal market behaviour and there is no manipulation and there is noone trying to take us down is beyond me.
They are not trying to take us down, they just know that when they dump, they'll be able to buy whatever they sold back at a cheaper price. It'll continue until that is no longer the case. Then it will probably be time to pump.
I don't believe this anymore. I see people dumping tons of coins. I don't see them buying tons of coins back.
Either way, they are destroying the market. On purpose ot not. It doesn't even matter. Same thing. They won't stop till it's dead.
Since the peak at the end of last year some enormous ASIC farms have been built. These need to be funded, and that is by selling bitcoins. The whole network has become far more secure against attack, but this has cost million$. Now it is a war of attrition between major miners to remain profitable. Soon it will be cheaper to buy coins in the market than anyone can mine them, difficulty stops climbing and plateaus (until there is a step-change in chip tech). Maybe $370 is the break even for all miners. If so, this will put a floor under the price. The bottom chart is important.
571.
Post 9076640 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.19h):
Is it just me or are people getting sick of the falling and starting to short bitcoin? Because I have this urge to short but I feel like I'm being manipulated...
Is my tinfoil on too tight?
Nope. Shorts getting squeezed.
Doesn't the price go UP during a short squeeze?
Indeed. Like when Volkswagen had a brief moment in the sun as the world's largest company.
http://www.reuters.com/article/2008/10/28/us-volkswagen-idUSTRE49R3I920081028reminds me of another chart I've seen somewhere...
572.
Post 9097529 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.20h):
Boom! 1500btc sell on Stamp
Wallzilla down to 25k coins now. Determined to sell at $300. Going to look pretty sick when btc is back to $600
573.
Post 9097617 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.20h):
Somewhere, someone is cursing the slow speed of fiat and can't get a few million over to stamp to grab this opportunity. The market clearly wants to retrace for a while.
574.
Post 9097829 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.20h):
"Yess. Sell that btc dammit! I know what I am doing. ...I think..."
575.
Post 9098050 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.20h):
Anyone know what time, CET, that fiat gets credited to stamp accounts on Mondays?
576.
Post 9098294 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.20h):
Next year we'll all be telling the story about the 30K Stamp wall when people freakout over a 5K wall.
We often freaked out about a 3000 wall in the last weeks...
BTW, how large was that wall on Gox @266-270 before we shoot through it? 20k?
only 10
that was marks 10K wall on stamps right b4 the news came out that mtgox had imploded @620ish
no i meant the one in November before the runup to the new ATH
That gox wall was def 10k and only lasted a few minutes. Loads more buying pressure then.
577.
Post 9098577 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.20h):
Has a large BTC exchange ever gone totally flat while actually operating for this long of a time?
no this has literally never happened b4
this is one of the, if not
THE most expensive wall i have ever seen, there have not be many 5million+ walls, maybe like 5-10 of them this year, every time market has eaten them,
every time.
this wall is HUGE
This wallzilla whale dude is torching money by selling in this way.
Basically, we are watching a replay of this:
K Foundation Burn a Million Pounds
578.
Post 9098635 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.20h):
The guy walks off with 8 million $ while having spent pennies.
Clearly burning money :/
Could have walked off with a couple of million more by drip-feeding into rallies. Not a hell of a lot of extra work.
579.
Post 9099111 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.20h):
Even the bid-eating bot has given up.
580.
Post 9099305 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.20h):
Also, is the bid sum dropping by the equivalent amount every nibble? Or is this fiat mostly invisible?
It looks like $1m has come from the visible orderbook since the 30k appeared, so about $3m more of the buying was from hidden fiat.
http://coinsight.org/bitstampguys, I just got up. Can someone give me a quick history (last ~6 hours) of that wall on stamp?
How big was it when it was put there? 17k?
Was the ~7k eaten or was the wall partly pulled?
About 5k was dumped in the market, and rest left at $300, after moving it around a few times.
581.
Post 9100145 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.20h):
But why are people buying instead of dumping?
We went all the way down from $1,200 to $300. We are in a bear market.
Just because a 30,000BTC sell wall appears out of nowhere, everyone needs to buy into that wall?
Makes no sense to me!
Seems like only you and Mr. Whalewall haven't heard the news. Bear market is over, bull market revving up!
582.
Post 9100449 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.20h):
583.
Post 9100653 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.20h):
swimming pool formation at 5min chart! Bullish!
haha. yes, a "whale bath" formation...
584.
Post 9135662 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.21h):
585.
Post 9151636 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.22h):
could btc/usd prices be impacted by cryptsys huge volume of XRP markets ? and would altcoins help or make it worse for the growth of BTC/USD?
The altcoins that come to mind that seek larger speculation of growth like Coin Magi (XMG), Primecoin (XPM), Peercoin (PPC) ..?
DOGE is a pretty big one
its hard to say exactly how it these alts effect he BTC market
but the idea that BTC is needed to bid in these markets is rather bullish for BTC.
Alts have diluted capital flow into BTC. Perhaps just fool's money, but imagine if all the cash that went into DOGE et al. went into BTC.
money moving towards alts is getting less:
YES!!! That is certainly an interesting trend, when some people try to give so much importance to the supposed dynamic of alts stealing away market cap from BTC, when we look more closely at the facts, the story seems to be quite to the contrary... alts are proliferating and so far pretty much stealing from each other rather than from bitcoin b/c as a whole bitcoin is NOT losing market share to such alts. NOW again, that is a good metric to monitor b/c it could change in a year or so or somewhere down the line some of the alts may begin to take some market share from BTC.
Well, that was how I was thinking too, but the percentage has been around 90% for the past week. Will be interesting to see if it goes nearer 95% again, perhaps when bitcoin is back in the $600s
586.
Post 9168584 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.22h):
I understand that it's possible they get a bunch of banks aboard, but that's more like a slim chance, a gamble. How many they got now two, three tiny ones?
yep, 3 tiny one are officialy onboard but this means a lot. Rabbobank is also testing and national city bank too and they are not tiny.
But this is true Ripple will attract first small banks. But I'm telling you 100banks the next 12months is really possible.
The only way you can profit is by holding XRP, yet large amounts of it can be released onto the market, or
created at any time. You can only profit if they let you, and they won't allow outsiders to reap huge profits for their hard work (assuming Ripple makes huge profits long term - which is very debatable).
587.
Post 9170281 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.23h):
Couldn't take it anymore, had to make an account so I could ignore the ripple guy.
LOL. Best first post ever!
588.
Post 9171397 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.23h):
the orderbook seems so nice, but no moon mission yet?
Why?
Monday is the moon mission day, because that is when fresh fiat arrives
.
589.
Post 9194001 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.23h):
That bearwhale is probably super pissed right about now
Bearwhale has missed out on a cool $3 MILLION by selling a week too early.
590.
Post 9202894 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.24h):
I agree that "Maths and Science" sometimes get thrown around like magical solutions by some pro-bitcoin people.
But ask yourself this:
How easy is it to change the money emission scheme for a central bank?
How easy is it to change the money emission scheme for the bitcoin network?
To come up with some other buzzwords: it's the combination of decentralisation, personal incentives and the enabling technology that makes bitcoin tick.
Which why it is going to be very interesting watching the emerging govcoins (Ecuador, Philippines). Because, if their coins languish in the alts, or are attacked and burned, then it will be obvious to everyone that riding the Bitcoin train is the only way to go.
591.
Post 9238591 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.24h):
there is 0 reason to move the price down, at this point, the news has been good, china and gox are behind us, TAX has been paid
Well, not sure that the news have been good. For the public who is not committed to Bitcoin, ApplePay sounds like a formidable competitor.
MtGOX is still not over, in several senses:
[etc, etc, etc...]
If China is still in control, then it is not surprising that there was no recovery after the October 15 tax deadline.
You claim to have a learned background, but a fundamental of science is that you should not and can not pretend away evidence and retain credibility.
When assessing the fundamental value of Bitcoin, this is the single most important basis to work from:
http://en.wikipedia.org/wiki/Metcalfe's_lawMt Gox, Oct deadlines, Apple Pay, Chinese speculation all serve simply to create blips in the Bitcoin megatrend, they are irrelevant long-term.
In fact, Bitcoin should observe Metcalfe's Law in its purest form because it is not hampered by language differences. Money, like sex, is universally transacted.
592.
Post 9239137 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.24h):
there is 0 reason to move the price down, at this point, the news has been good, china and gox are behind us, TAX has been paid
Well, not sure that the news have been good. For the public who is not committed to Bitcoin, ApplePay sounds like a formidable competitor.
MtGOX is still not over, in several senses:
[etc, etc, etc...]
If China is still in control, then it is not surprising that there was no recovery after the October 15 tax deadline.
You claim to have a learned background, but a fundamental of science is that you should not and can not pretend away evidence and retain credibility.
When assessing the fundamental value of Bitcoin, this is the single most important basis to work from:
http://en.wikipedia.org/wiki/Metcalfe's_lawMt Gox, Oct deadlines, Apple Pay, Chinese speculation all serve simply to create blips in the Bitcoin megatrend, they are irrelevant long-term.
In fact, Bitcoin should observe Metcalfe's Law in its purest form because it is not hampered by language differences. Money, like sex, is universally transacted.
Metcalfe's and Gresham's Law are in effect when it comes to Bitcoin. For the second one we will just have to wait for one big economy to regulate it. What startled me back when I've first learned about it, was how on earth ONE person had the ability -and knowledge- to know EXACTLY how this will evolve. Turned out that I knew far less than what he did.
For your consideration (even though I'm sure that most of the old farts here know this right from their heart):
http://en.wikipedia.org/wiki/Gresham%27s_lawYes, indeed. Gresham's Law comes into play because all the central banks are debasing their fiat as a matter of policy, 2% inflation targeting. This keeps the FRB-ponzi going by stealth-taxing the fiat in everyone's pocket to save the banks whenever they overextend. Famously, Satoshi mentioned this in the genesis block.
So the central banks are helping Bitcoin by coin-clipping their own fiat alternative.
593.
Post 9261720 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.25h):
I fucking hate this market condition, no fucking chance to chart or anything this. They do whatever they want and we just participate like sheep.
What did we expect, we attracted big moneys attention and not everyone is a bull on bitcoin
I don't quite care if bull or bear, just hate this 10$ range trading with zillion fakeouts.
The longer the market stays in a trading range, then the stronger the floor it is putting in. A year ago people would have been wetting themselves seeing a floor put in at $380. A solid $380 means that $760 is on the cards sooner than later.
594.
Post 9272910 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.25h):
See you all in 2017 or so when things liven up again (probably 2015 tbh).
Are you taking a break from the
Wall Observer,
lounge, rats nest?
595.
Post 9287359 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.25h):
Chinese 10k wall still here? Someone is buying coinz for peanuts...
That wall hasn't bought 1 BTC yet, and when there was a dip it was pulled and then dropped 20 yuan. Sellers see it and are holding back.
596.
Post 9297331 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.25h):
Everything is based on risk/reward. If someone gave you 3-1 on a coinflip you would accept it instantly, but you could easily lose. Moreover, if they demanded you wager your entire net worth, the math would direct you to decline the offer.
The story about the Texan? True, Baldwin said. Packer was
at one table and the Texan, playing one table over, wanted some bigger
action. Packer turned him down. The other guy said, Im a big player
too. Im worth a hundred million. Kerry said, If you really want to
gamble, Ill flip you for it (the $US100 million). The Texan quietly
went back to his game.
http://www.crikey.com.au/2006/01/12/kerry-packer-the-texan-the-toss-and-the-truth/
597.
Post 9298530 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.25h):
Huobi wall has got the flamethrowers onto it.
598.
Post 9298706 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.25h):
Over 9K in volume and that Huobi wall only dropped 3K. There must be much more fiat off the order books.
Don't forget that zero-fee trading means hello to Churn City
599.
Post 9299058 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.25h):
Is this normal
Wow, haven't seen such a narrow spread for a while.
600.
Post 9307879 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.26h):
DAILY LOW AGAIN?!?!
Give us a fucking break damnit
I fear this could be the end
guess this is where my life goes down the drain
Have a word with yourself. It's really not that bad is it?
Not that bad but I was really expecting some upside right about now...
It's the unexpected drops which feel the worst
While the difficulty keeps climbing it shows miners are still spending on hardware. And, it follows, they spend coins they have mined. Difficulty *seems* to be reaching a plateau, so, if miner spending reaches a plateau, then price should be turning up for a while.
601.
Post 9308117 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.26h):
this is the end.
all hope is lost.
fuck!
Adam, how do you rate the current doom, gloom, fud-fest with Nov 2011?
602.
Post 9321699 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.26h):
Yep, the dumpers are blue pill junkies.
603.
Post 9331821 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.26h):
Something for the shorters
604.
Post 9339749 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.26h):
I have a question for those who still believe in a crazy price rise and mainstream adoption.
It's been 6 years. 99.9999% of the world out there doesn't give a shit about Bitcoin, bank fees, decentralization and so on.
Why do you think that after 6 years (six!!) this suddenly will change?
How delusional do you have to be to believe this?
So, just WHY are you sitting at your computer hammering out "comments" on bitcointalk, month after month after month?
605.
Post 9355128 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.27h):
hmmm... but what if the electricity was free
Like at mom & dad's house?
606.
Post 9361452 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.27h):
I will leave this place soon. Bitcoin is dead, it's only down from here and i sold everything i got quite a while ago so there is nothing for me here anymore.
I tried to help the few delusional bulls who just won't give up but they don't appreciate my warnings very much. Ah well, your money. I don't care really.
I'll come back every 50 dollar drop for some entertainment. So long and thanks for buying my coins at 400. Poor schmucks.
Good luck with your pump and dump coin.
And who said there's been no good news recently?
should at least be +5% not to read this depressing bullshit any more.
the biggest weakness of decentralisation is that you cannot exclude any one
And what if that one is a Galileo Galilei?
607.
Post 9364650 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.27h):
China took the price from ~120$ (or, quite likely, from ~14$) to ~1200$. ... But now they are realizing they are not welcome by people in this thread, so they are pulling out.
608.
Post 9375787 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.27h):
TA 101
1) spot trend, follow it until it shows signs of reversal
2) learn what reversal patterns are, how they relate to market psychology, where they occurred historically in these markets, and how to recognize them and their variations
3) have enough self-respect and confidence in your position that you don't have to troll threads talking your book
4) profit
TA 101
1) Realize that TA is basically bullshit and doesn't work
2) profit
This is how it works:
609.
Post 9386774 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.28h):
Methinks we crash below $200 within 8 hours.
you thinks wrong
Yes.
What people overlook is that a price fall from $400 to $200 requires as much doom, gloom, hate, FUD, despair, bear-mania, as the entire fall from $800 to $400. Unless there is a breakdown of the Bitcoin protocol, it becomes exponentially harder for the price to collapse downward. There is a floor, and maybe $275 was it, and $333 the lowest retrace.
610.
Post 9390520 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.28h):
Will there only ever be 21 million checks?
Will there be only one cryptocoin?
LOL. Now THAT needs framing.
611.
Post 9408503 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.28h):
Gut feeling is that there's going to be a big movement upward in the next few days. I don't expect it to drop much lower from these levels.
I agree with you, except also, that I was thinking the same thing when it was bumping along at $385
612.
Post 9420588 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.28h):
That article as good as "Aliens Ate My Dog". Complete BS.
These are the price junctures where manipulation forced price in the opposite direction than that dictated by wave principle:
Oh no! The all-powerful "wave principle" which can flush out conspiracy, and can presumably make traders rich, except no one can define it, let alone use it to profit from.
That first arrow points to the SR bust event. Unexpected news is not manipulation.
613.
Post 9453055 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.29h):
(By the way, some bitcoiners seem to be trying to convince people to adopt bitcoin by telling them that money sucks. I sense a problem with that marketing strategy: it seems that many people have used money sometime in their lives, and may even have enjoyed the experience -- unlikely as that may sound.
)
If anyone is telling you money sucks, they are sure right about this junk. Fortunately, I never had to use it, and really pity any poor soul who had to.
614.
Post 9453123 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.29h):
(By the way, some bitcoiners seem to be trying to convince people to adopt bitcoin by telling them that money sucks. I sense a problem with that marketing strategy: it seems that many people have used money sometime in their lives, and may even have enjoyed the experience -- unlikely as that may sound.
)
If anyone is telling you money sucks, they are sure right about this junk. Fortunately, I never had to use it, and really pity any poor soul who had to.
i want to buy one with bitcoin...
Why spend bitcoin when you can spend a few "bits" on this stuff.
I am sure the Brazilian public loved the
inflation is good mantra when these were being printed.
615.
Post 9453308 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.29h):
(By the way, some bitcoiners seem to be trying to convince people to adopt bitcoin by telling them that money sucks. I sense a problem with that marketing strategy: it seems that many people have used money sometime in their lives, and may even have enjoyed the experience -- unlikely as that may sound.
)
I hear in Argentina, Argentines think the peso SUCKS.
Yeah. Seeing this annoys some Argentines.
616.
Post 9453435 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.29h):
I used those, and several other versions of the currency, each defined as 1000 of the previous unit.
x1000, then x1000, then x100, for the full story.
But guess what, the economy kept working in spite of that. badly, of course, but it did. Sorry if that disappoints some, but civilization did not collapse.
And people did not get utterly ruined. No sane person "invests" in cash;
(my bold)
The primary purpose of money is a store of value, so that it can proxy for products and services in commerce. It must retain value over time to properly function. If it doesn't then the whole economy is badly distorted, made inefficient.
when the inflation gets too high, banks will offer inflation-corrected savings and investment funds, that allow fast deposit and withdrawal at any time.
You know, of course, about the horrendous
corallito, and how the banks ruined thousands of savers. This has been practiced in many countries, not just Argentina and Cyprus. Also, investment (pension) funds have been raided in numerous countries, like Hungary and France, in recent years.
Inflation, like salt on food, is good in small doses, disastrous otherwise. It must be just big enough to dissuade people from hoarding the currency. Inflation of 5% per year requires adjustments in salaries and prices, each year or every 6 months, and must be explicitly taken into account in planning or contracts spanning many months. Beyond that, inflation begins to be a real pain: prices and salaries have to be adjusted all the time, people must rush to invest the salary, etc.
Hoarding is simply the same as saving. Savings are what makes capitalism a viable economic model. Inflation is a stealth tax from those who have last use of new money (the poor, middle class) to the pockets of those who have first use of new money (the banks, wealthy, government).
617.
Post 9453694 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.29h):
Well he is definitely trolling now, of course, I'm just wondering if he's always trolling or just trying his hand at it for a bit.
Think of it like the journey of Anakin Skywalker, way back, starting off with an open mind, but soon began an ever deeper descent into the troll-side of the farce.
618.
Post 9453814 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.29h):
Hoarding is simply the same as saving. Savings are what makes capitalism a viable economic model. Inflation is a stealth tax from those who have last use of new money (the poor, middle class) to the pockets of those who have first use of new money (the banks, wealthy, government).
It is not quite so simple. Standard economists worry that if inflation becomes too low (or if there is deflation), incentive to hoard increases and incentive to invest drops, which could lead to negative growth, the bęte noire of capitalism.
There is merit to the argument that inflation should match real GDP, rather than remain near zero, with deflationary effects. Even gold "inflates" as the stockpile grows from mining. Bitcoin will inflate at a greater rate than the world real GDP growth rate for some years yet. And if Bitcoin deflationary effects ever proved a constraint on GDP in a Bitcoin economy, then there is always Litecoin etc to take up the slack.
Also, those standard economists may well be in "academic capture" and parrot the view that serves their employers (central banks, government) best.
http://www.washingtonpost.com/news/volokh-conspiracy/wp/2014/05/18/regulatory-and-academic-capture/
619.
Post 9492415 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.30h):
That skeleton can join the boneyard of those still waiting for sub-$65 after the April 2013 crash.
620.
Post 9503859 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.30h):
Where the hell did adam go??
Occam's Razor: reconciliation with wife means abstinence from bct.
621.
Post 9546195 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.32h):
Breakout weekend to follow a breakout week!
Bye bye $400
622.
Post 9565532 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.32h):
By the way, can you add what would be my avatar to your BULL???
Must be hell going through doorways
btw. Hello $400 again
623.
Post 9575494 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.32h):
Technically speaking, since this is meant to be a TA thread, we are on page 11,120 already.
https://bitcointalk.org/index.php?topic=85687.msg1860699#msg1860699
624.
Post 9575530 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.32h):
Remember when a 1000 page thread was almost unimaginably long?
Yes, but that was
before My Little Pony was invented.
625.
Post 9575982 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.32h):
hopefully all the ripple pumping will get deleted.
Has the thread's biggest page pumper been kneecapped?
https://bitcointalk.org/index.php?action=profile;u=110685;sa=showPosts
626.
Post 9577917 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.32h):
nearly 2000 posts cant be deleted manually (post by post), very, very unlikely
besides maybe some small manuall post dumpers, the real reason for this big loss of posts must be nuked (multiple) accounts of big time posting regs
(or small chance some people aka "post dumpers" found a way of automatization of deleteting own posts via an bot/script/macro)
This thread is so full of junk that people have stopped reading recent posts:
Oh my dog, hundreds of very meaningful posts here have suddenly disappeared.
I assure you, that is not the case. They were all "The Bitcointalk Image Proxy Cannot Display This Image" or whatever guff it says.
Doesn't take Sherlock Holmes to figure that "The Bitcointalk Image Proxy Cannot Display This Image" posts have been blitzed
.
627.
Post 9577948 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.32h):
ah thank you solex, kinda still suxx, because the image proxying is and was always buggy, so maybe great meaningful picture posts are gone
maybe eeh
The image proxying has suffered since Theymos improved the security when bct was hacked.
628.
Post 9585539 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.33h):
wow, he already dumped his first stash.
smart.
OK, so your theory is that he paid about $600 for 30k coins and dumped them, maybe at $300, being the smartest of bearwhales.
I can see why he is filthy rich, and you are about half that.
629.
Post 9588447 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.33h):
- coins by busted people in the free world like EU or South America facing 1 till 5 years prison are safe this way
Unless the FBI has hacked into your computer, six months earlier, and the wallet software that you installed on your offline computer is a doctored version that picks keys from a predefined list. Or unless you are kidnapped by gangsters who offer you a more convincing deal. Or unless the police shows you what a Brazilian prison looks like.
Brazilian prison ain't that bad, provided you have control of your money and are able to pay people off.
If you hand over all your money and then you're facing prison with zero assets, it'd be a shitty situation.
Same goes for the whole world, pretty much.
enjoy...
630.
Post 9599872 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.33h):
And I was first on stamp
631.
Post 9599944 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.33h):
WOW, I guess we're going down then...
Just doesn't make a lot of sense to me
FWIW, probably just a retest of $350, before up up up
632.
Post 9600528 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.33h):
Yes but the thing is last time tim draper got badly burnt with his strategy of buying above market - and additionally the 50k coins currently up for auction arent even the entire stash. theres even more to come... If I were a bidder I would lowball the first auction and see if there was a demand before bothering to pay above market -
How did he get burnt?
He was able to buy 50k bitcoins at a lower price than he could have paid on the exchange.
This.
Some users here simply can't or don't want to think.
It was 30k that Draper bought earlier in the year. However, to some HNW individuals these are worth more than "normal" market-sourced bitcoins, because the US Marshal's coins have been laundered by the government.
633.
Post 9607952 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.33h):
I'd like some feedback from the Eurolanders out there, if possible
I just got this in my email:
This weekend, Swiss voters will be asked whether they want 20% of their currency, the Swiss franc, backed by physical gold.
The people I talk to here in Zürich are, at best, hopeful that the answer is no. They know that such a plan will cause a world of hurt to the Swiss economy and will hamstring the Swiss central bank and its efforts at managing the franc. They all say confidently that the majority of Swiss voters understand this and will veto the plan.
But you can clearly hear in their tone that worry tints their words. The polls are close. And they know that the Swiss feel their economy is too often manipulated by what happens with the euro and the dollar and the Swiss are people with a deep independence streak.
Thus, theres a better-than-good chance that Swiss voters shock the monetary world this weekend with a vote that signals the beginning of the end for modern fiat currencies. That will ripple through our world here in the States. But there are ways to prepare
Anyone who knows any thing about Switzerland think this it's even a remote possibility?
The central banksters are running scared. Paypal has already been ordered to blacklist the Swiss Gold Initiative sponsors:
On Wednesday, October 29, we have received an unexpected simple template notification from PayPal that they can no longer receive donations on behalf of Matterhorn Asset Management AG; that they do not take these decisions lightly and that their decision is final which includes any future regular business. Their formal reasons:
we are not a registered charity in Switzerland
our product is a risk
Under Swiss law we are totally in compliance with our effort to raise funds in support of the goldinitiative. In fact under Swiss law we are not required to be a registered charity to raise funds for any kind of political challenge and PayPal is aware of this.
https://goldswitzerland.com/swiss-gold-initiative-2014/
634.
Post 9617354 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.33h):
Does anyone know if the Chinese traders are actual living people or just TA bots or something?
My impression of Chinese traders is that the bitcoin market is to them a video game, and a few might even reach this stage:
9 People Who Died Playing Video Games
http://www.ranker.com/list/8-people-who-died-playing-video-games/autumn-spragg
635.
Post 9654782 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.35h):
2014 sucked. But bitcoin survived. To survive is to thrive.
The year started at $731.35, and is down about 50%. So 2014 is probably the first whole calendar year of downward value, but it has to happen sometime. Still 1 month left for a last-gasp spike into the new year :-)
Bitcoin has posted a record annual gain, measured in USD.
At the start of Jan 1st, 2013,
Mt Gox had a bid/ask of 13.45-55, or mid-price of
$13.50At the close of Dec 31st
Bitstamp and
BTC-E have 730.4-732 & 730-733, or mid-price of
$731.35(Mt Gox is not comparable because its US$ withdrawals do not take < 1 week, hence its bitcoin price is biased upwards).
Trace Mayer's statistics for
previous years, now with 2013 completed:
2009 4,867% (uncertain price discovery period)
2010 387%
2011 1,320%
2012 170%
2013 5,317%One observation is that, so far, odd-numbered years exhibit high-growth, while even-numbered years are consolidation/growth periods.
Even 170% gains in 2014 will be stellar. Happy New Year to all Bitcoin holders!
636.
Post 9745987 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.37h):
china apparently does not give a fuck about the auction.
Yep.
637.
Post 9753066 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.37h):
Yeh, I remember that one, Proudhon's 5 minutes of fame lol
I guess Sydner Ember got hers today !
In fact Proudhon's most famous moment was turning bull at the April 2013 $266 peak after being bearish all the way up. Bitcointalk has not seen a feat of this magnitude since.
Well, if we made it to $266 then maybe I was wrong and the market is growing enough to sustain the growth.
Followed by a mass sell off by all.
638.
Post 9761672 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.37h):
Anybody still buying regularly?
I'm a HODLER but at a bit of a cross roads right now regarding 'do I stick with what I have' or 'keep buying'.
No positive news at all for a while now but then again no real negative news.
It's all gone a bit boring.....
I wish I could keep buying. In my fervor I over extended myself financially so I have stopped buying. Unfortunately I don't make good money yet.
Patience grasshopper. Price is coiling nicely for a spike upwards.
Mainstream media have stopped laughing and are looking to a new financial future. e.g.
http://www.ft.com/cms/s/0/f53524de-7bca-11e4-b6ab-00144feabdc0.html#axzz3KzJ5bohY
639.
Post 9764283 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.37h):
..of the downtrend
640.
Post 9789916 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.38h):
atypical bottom forming?
back over 400 soon?
to the moon?
up, Up, or UP! ...I need answers poeple....
Not enough buying pressure yet. Could be a slow crawl like in Dec 2012.
641.
Post 9794631 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.38h):
642.
Post 9794857 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.38h):
Some time ago, I've had a flashback to 2011. The next and final stage of the bear market began when difficulty began to decrease.
I have to say, I wouldn't have expected a difficulty decrease with ASICs, though the one we have is so minor it could be attributed to a stagnating network and randomness of hashes with the same machines. It should be impossible for difficulty to decline as much as with GPUs because ASICs can only do the one task, and they will be sold to whoever has cheapest energy.
That difficulty decrease stage might be put on hold for a while...
https://bitcointalk.org/index.php?topic=888260.msg9794133#msg9794133
643.
Post 9801689 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.38h):
@jonoiv
Gold has nothing to do with this, and FYI fiat isn't backed by gold or any tangible assets since 40 years. Some currencies are 'defended' by a certain amount of gold in currencies wars, but that is the extend of it 'backing' anything these days.
It's backed by the ability to prove a debt can be ultimately paid in gold as assumed by the credit agencies.
Currency is backed by assets, at least my currency is (GBP). our QE was backed by the purchase of assets. When called to pay debts they are settled in gold.
Don't be silly. The small amount of assets that central banks have is nothing compared to the fiat they print. Most assets in central banks are leveraged at 30-40:1 (and usually by shitty assets), and the leverages are going up little by little.
Correct. The Federal Reserve even had to change its accounting rules 4 years ago to prevent it going "technically" bankrupt
http://www.zerohedge.com/article/creative-accounting-makes-fed-insolvency-impossible
644.
Post 9802298 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.38h):
can we have a special moment of silence for MTGOX and my bitcoins that are lost forever
I'm always amazed by how fast we all just turned our heads from that debacle... there is no question in my mind this market HAS HAD TO FEEL THE IMPACT of MTGox, and we are feeling it... this will last a considerable amount of time.. you cant just compare 2009 / 2010 to today without taking a look at that and realising there will be an ongoing intangible impact when comparing today's data to historical data etc...
fucking Mark Karpelese!
It is sad about your loss, but for at least six months lots of us on bct were telling (yelling at...) people they should get their money off mtgox, from the time the fiat withdrawal problems first started.
645.
Post 9812360 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.39h):
Been lurking for a while.
The microsoft news to us boys and girls already inside Bitcoin world is huge but it means bugger all to anyone outside.
We need new Ģ$
This will come from
A. Institutions - Once we have regulations then institutions/ funds are allowed/ confident to enter the market.
B. Individuals - Once the press starts reporting people making big Ģ again then people take notice and take a little bet on bitcoin.
Current mainstream news = down down down, lose your Ģ$ in Bitcoin
Main stream news after a slow steady 6-9 month bull run = Up Up People doubling their investment+ Get inn quick+ Sell the silver.
So there is no quick rocket to the moon we need to build some momentum for the main stream press to report on first.
Slow and steady wins the race to the moon!
Oh and yes I am an uber bull but look at the facts
1 The smartest people in the room (Bill Gates and Richard Branson?)
2 Side chains
3 ETF
4 Bitcoins to Bits (Gold Kilos and oz's)
5 The Foundation focussing ::)Core Development
6 Block halving
Who am I?
I work in web development in the Uk and have many friends from university and only 2 people know or get Bitcoin. We are the very early adopters.
Just a normal person in a normal job in the uk who read a story about someone buying a pizza.
Bulls , bears, we all want the same. More control and more time to do the shit we love.
Cheerio chaps!
Nice 1st post.
Welcome.
A single post that is more insightful than 1000 posts from Mervyn Pumpkinhead, MatTheTwat, NotLambChop, Shrooomskit, and the like which plague this thread.
646.
Post 9821442 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.39h):
I'm curious to know if btc will be worth it to mine once it halves...
It depends on what the price is at the time of halving. Since price would be up, it might just be profitable.
Namecoin's reward is going to halve in 3 days. Will be interesting to see how the market reacts.
http://coinmarketcap.com/currencies/namecoin/
647.
Post 9821658 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.39h):
A point that most people forget about bitcoin is the international transaction use. There's a great volume of money being transferred from immigrants to their relatives consistently and solely on bitcoin. Why? because it's easy - safe - fast and doesn't cost a penny. Many people out there saw a relief from the ''usual'' money transfer tactics when bitcoin surfaced, plus the significant fact that when they were illegal immigrants, they usually had to pay more for their anonymity.
Yes. This goes to the root of the error in Jorge's analysis. He makes the a priori assumption that Bitcoin has no inherent value:
Bitcoin will still be a risky investment, with no backing assets and paying no dividends, whose value is entirely dependent on the expectation of future expectations of investors.
The fact is that Bitcoin has enormous inherent value
because of the utility of its payment network, sending money point-to-point anywhere in the world, between any persons, without censorship, without 3rd-party permission, irreversibly, for low fees, very fast, fairly anonymously. The larger the network becomes, like a phone system, the more useful it becomes. There is a positive feedback cycle and the value benefit to its native currency unit has been shown by the market over the past 5 years.
Jorge, the academic, cannot deny this evidence and maintain his professional integrity.
648.
Post 9859934 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.39h):
>1.8K in asks pill up at ~329
we're doomed!
When the last uber-bull throws in the towel, RALLY TIME!
649.
Post 9872086 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.40h):
But here's my bias based on psychology/sentiment: Pretty much the only thing that can calm holders nowaday is the notion that Bitcoin has never gone below the previous all time high in the following correction or bear market. Because of this, I think there are going to be a whole lot of "weak hands" in this area because it's so close to the 266 high.
I'll just point out that 266 was the fractional-reserve Gox high and possibly should be adjusted to account for such.
Stamp's high was 259 which is probably more relevant, in hindsight.
650.
Post 9872279 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.40h):
15k+ shorts on finex... squezeeeeeeeeee time
651.
Post 9981810 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.42h):
Number of transactions is down. Bearish.
It's the week after Christmas ffs.
Exactly. It's the least financially active week of the year!
652.
Post 10030659 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.43h):
fuck i think i will regret it big to sell all my btc at $278
Don't worry, you will still be able to buy half of it back when it hits $556.
653.
Post 10043637 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.44h):
Bitstamp trading engine paused? No action for 15 mins...
654.
Post 10065549 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.44h):
Here's my speculation: Bitstamp has lost almost 19k coins and will either have to buy the coins back somehow or go under. I don't think $5M is enough to really make Stamp go out of business so that means 19k coins will be bought. Meanwhile the hacker is also sitting on almost 19k coins but he will probably be looking to sell those coins off-exchange and he may keep a percentage of coins around for later. So the net effect I think will be that the price is going up short term because Stamp is buying to cover their losses and smart speculators will know and front run that. Once all doubt is cleared about Stamp and they are back in business (which I think is very likely) it's probably rally time for a bit and all the shorts will have to watch out for an epic squeeze.
The next US Marshall's auction might see a keen bidder from Central Europe.
655.
Post 10098610 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.45h):
bitcoin isn't dead, its dying...
Aha, the sound of a towel thrown into the ring. Must be the cycle low after all.
656.
Post 10099872 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.45h):
Bitfinex Bitstamp
Just testing. Does look better.
657.
Post 10108091 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.46h):
Take the Bulltard's head and just...
<gif cut out as it's disgusting>
That's disgusting.
How come the post is still there and this fucker keeps posting instead of having a permanent ban? I had reported the post to moderation earlier today and apparently the report was accepted as valid - I assume that from the "100% reporting accuracy" I've got afterwards, so why the hell has there been no effect?
Could you please stop quoting this shit and instead report it as well and get this guy out of here? What does it take here to actually get the moderation to work?
95% of my ignores are from this thread. But the requotes are annoying. Compared to 2013 when there was a lot of useful debate, it is now necessary to sift through dirt to learn anything.
658.
Post 10135016 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.47h):
damn i must go to work in 10min but i donot know what to do
hold or sell?
buy fiat ... lick the facist boots.
Unfortunately we have to buy fiat and lick the facist boots each time we sell btc and re-buy lower.
659.
Post 10136427 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.47h):
Blocks/hour 4.85 / 742 s
If it drops too low then all trust in the network vanishes and btc is rendered worthless and perceived as such by the world.
https://blockchain.info/stats11 mins/block is fine
660.
Post 10136495 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.47h):
This is what you get with unregulated markets. It has nothing to do with Bitcoin. If the stock markets were unregulated like this, it would destroy our civilization.
Human nature is a key factor in the equation.
This is how they should play all sports. No time out. No periods. Fight to the death.
661.
Post 10141803 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.47h):
On the way to the airport the Indian taxi driver AND shoe shine boy both told me my fortune would lie in bitcoin. They know their shit - they talk to a lot of important people every day.
Shoe shine boy should have been preaching at $1100
http://www.barrypopik.com/index.php/new_york_city/entry/when_even_shoeshine_boys_are_giving_you_stock_tips_its_time_to_sell_joseph
662.
Post 10147649 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.48h):
What's a 2013 pic doing in a 2015 thread?
663.
Post 10148061 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.48h):
i just woke up
what the fuck is going on?
this must be a nighmare
But, but, you sold at $278
Double your btc time...
664.
Post 10149440 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.48h):
so bitcoin is just a huge joke now?
It has always been entertaining.
That it has although this is quite painful
Kind of doing side calculations now if I buy 20 BTC and I see 1000 dollars in the next few years 20K at the price right now lol.
Back to 2013 heh this period is now one of the big bitcoin crashes in the history table.
Yep. The permabears will engrave this crash on a golden chalice and worship it for years to come, pleading for the "Return of the Great Crash" while the rest of us are enjoying the profits of $10k coins.
665.
Post 10159974 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.49h):
I'm loving the zero-fee trading on stamp. These opportunities are not to be missed! Churning the coins like a demented Huobi-bot this week.
666.
Post 10170683 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.50h):
lines broken... Does that mean back to the depression time? And the end of the dead cat bounce?
That's part of the magic of trading. Lines broken by a single big seller (like just now) do not change the short-term trend. It is when the market is exhausted and a trickle of sells becomes a waterfall, the trend breaks.
Usually
TM
667.
Post 10173384 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.50h):
Adam Guerbuez retweetete
Charles Hoskinson @nprojectcharles 40 Min.
Major bitcoin news coming very soon. Hope you're long
He better tweet this quickly if he wants to claim credit for the next leg up in the market.
668.
Post 10173477 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.50h):
Looks like it is about Factom:
Factom's simple extension of the Bitcoin blockchain, allows users to run their own personal, provably immutable ledgers. Users and applications, also have the ability to define which information is stored in the ledgers. "Foactom lets you use the blockchain without forcing you to use the currency,"
Factom? I didn't even know 'em!
At the most basic level, Factom provides "Proof of Existence." Any digital artifact can be reduced to a hash, a relatively small 32 byte number, that proves an artifact's existence. Adding that hash to the Bitcoin blockchain proves the existence of that artifact at a known point in time. Factom extends this idea. Each Factom subsystem in the group provides a "Proof of Process." Proof of each step in a process can be entered into a "Factom chain" of provable events. One obvious sort of Factom chain is a log. A security camera can log a stream of signatures, proving video was taken at a point in time, and that the video has not be altered. A Coin is also a process, one proving that coins existed and were exchanged. The steps in processing a title for Real Estate is a process, and one where a clear timeline of process can be very helpful.
669.
Post 10193790 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.50h):
Gotta be some piece of news...can't seem to find anything
The only news is that Bitcoin was vastly under-priced and is correcting.
No big deal. It's still far too early to post trains and rockets.
Sinking ships, exploding rockets and derailing trains are equally silly.
What, so everyone suddenly realized at the same time that it is under-priced?? Brilliant deduction there..
It's called
consensus. Bitcoin is a consensus protocol and so everyone just concluded btc was too cheap. Logical.
670.
Post 10198770 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.50h):
Non-inflationary currency would not get invested during economic downturns. You don't understand finance, and that's fine--but arguing this is getting a bit repetitive. Please educate yourself & return when you have something more than your paranoia about banksters to share.
ty
Freaking Keynesians.
Less non-inflationary currency would get invested during economic downturns. Money is a claim on resources. During an economic downturn, resources need to be used more efficiently. Money that would not be used for useful purposes (luxury goods, frivolous projects) would be withheld, resources are freed up and projects which actually benefit the economy move forward with reduced costs.
This "pay one man to dig a hole and another to fill it in" stimulus shit needs to be jettisoned. It only retards recovery (and enriches the guy running the program, of course).
Correct.
Why not have a super-hurricane every year to really get the economy going?
671.
Post 10198811 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.50h):
The red dot is slightly in the wrong place. Should be around Yucca Mountain.
672.
Post 10225361 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.51h):
OK Coin
Similar to what happened when the bear market ended at $65 after the $266 peak...
673.
Post 10243331 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.52h):
Due to its banking partnership, dollars kept on Gemini will be eligible for FDIC (Federal Deposit Insurance Corporation) insurance and are as "safe and secure as they are in your bank account today", the exchange claims."
Hmm... FDIC only insures bank deposits against
bank failures, isn't that so?
If the clients' dollar deposits are stored in a single bank account, in the name of Gemini (as most exchanges do), the FDIC will not insure the clients against Genesis screwing it up (as MtGOX did). Isn't that so?
"FDIC insurance covers all deposit accounts, including:
Checking accounts
Savings accounts
Money market deposit accounts
Certificates of deposit
FDIC insurance does not cover other financial products and services that banks may offer, such as stocks, bonds, mutual funds, life insurance policies, annuities or securities.
The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category."
As with traditional exchanges what they insure is the balance in USD and not the products.
This permits mom and pop to move 25k in RRSP 401k and other funding options.
This is huge.
And recently:
Financial analyst, Ann Barnhardt, says that Citigroup is adding an astounding $10 trillion per quarter to its derivatives portfolio.
In the event of a drop in value, this now is covered by the FDIC, which transfers the high risk of derivatives to US taxpayers.http://investmentwatchblog.com/financial-analyst-ann-barnhardt-says-that-citigroup-is-adding-an-astounding-10-trillion-per-quarter-to-its-derivatives-portfolio/#x9jiOHpTCvEdWWEJ.99
674.
Post 10250953 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.52h):
LTC TO THE MOON.
675.
Post 10252707 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.52h):
This is not a free speech issue, it is the same as the anti-social drunk who shows up in your club and starts abusing the clients, kicking tables and chairs around and defacing defecating on the walls warning people not to come back here ... why do we allow these people to stay here??
FTFY
Just got to keep hammering the ignore button.
676.
Post 10261617 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.53h):
so if I want troll you I just post here and you will see?
Yes, but you'll have to wait your turn, the line starts over there.
Can I get your latest theory on how China caused this price rise please?
China has been an anchor chain on Finex and Stamp throughout the rally.
677.
Post 10262373 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.53h):
And of course, my $289 sell order that I pulled would of been perfect
Always this shit...
Dont worry you'll probably get another chance to sell at 289 on the next surge upwards
At which point he will be gagging to re-buy at $310
678.
Post 10263825 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.53h):
I sold my last coins at $293.
I'm out (trading acct only) at $285, but so much energy in the market now, can't see a retrace below 255-260 anymore...
679.
Post 10270242 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.53h):
When I look at the chart now I see a classic pump and dump.
This will go below $250 guaranteed. Just look and zoom out.
short-term possibly, but medium-term I see it building a platform at $300 for the next full-blown bull market.
680.
Post 10276181 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.53h):
2k dump on stamp takes it <$250 once more
681.
Post 10293991 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.54h):
You don't get it, there's no cashing out and no "manipulation", just bears increasing their BTC stack. If (when) price goes up in thousands (or 10's of thousands) of US$ the only thing that matters is how much BTC you have at that moment. If the price went <$100 in the meantime, or if that moment will be in 2015 or 2020 is completely irrelevant.
Exactly! I also focus only on how many btc I am accruing. The amount of $$ is irrelevant.
682.
Post 10295029 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.54h):
is now a good time to short?
Kenji, you need a chart where the red candles are green, and the green ones are red. Then you can really let loose trading on your instincts.
683.
Post 10296999 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.54h):
And apparently still working on new MtGox features
Think he's about to announce that LTC will now be traded on Gox
684.
Post 10314775 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.55h):
Luckily, on a bitcoin forum, it is highly unlikely anyone would have serious savings in Brazilian reals.
685.
Post 10383465 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.57h):
Finex is starting to look tsunami like again
It's Huobi the anchor chain again. Must be the big Chinese mining pools still dumping coins. Don't they know the rest of the world is revving for the next bull run?
686.
Post 10397676 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.57h):
Itīs official.
http://www.chinatimes.com/realtimenews/20150208002335-260410Google translate::
"Hong Kong, " Wen Wei Po" reported bitcoin (bitcoin) again to Hong Kong investors ' loss of hand bad feet " : Hong Kong, a Bitcoin payment platform has suddenly closed down , estimated at nearly 3000 Bitcoin investors may lose everything at any time .
It is understood that when a group of Hong Kong investors in Bitcoin trading platform related office visits , found that have been left vacant , suspected of fraud and pyramid selling , the estimated total amount of all " victims ' losses at any time up to three billion Hong Kong dollars . Today they will collectively Police...."
Thanks to Jorge for breaking the news. Wait until this hits the news worldwide on monday, which will probably trigger the crash to sub 100. We would go there anyways, but a good news story will probably add more momentum and preserves us from more failed pumps and boring sideways action before the crash.
So why aren't the Chinese exchanges dumping like crazy?
3 billion yuan = 2.17
million btc at the current price. 3000 investors means the average investor had 725 btc each
687.
Post 10444531 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.58h):
Poker Stars finishing bitcoin integrationEven my cold-wallet is getting excited at the prospect of this news hitting the mainstream.
688.
Post 10455767 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.58h):
Is Huobi down?
Any clues about the cause of this rise? The Google rumor perhaps? Coinbase overseas?
Huobi as ropey as an old fishing net lately. They go offline for a while then reappear as if nothing had happened.
689.
Post 10496741 (copy this link) (by solex) (scraped on 2020-04-04_Sat_13.59h):
why cavirtex shut down ?
worried about hackers.
690.
Post 10808060 (copy this link) (by solex) (scraped on 2020-04-04_Sat_14.05h):
What are the problems with bitcoin??
Some problems:
* Centralization of mining seems inevitable.
As mining matures it is becoming decentralized. organofcorti stats shows this clearly.
* There is no mechanism to stabilize the value.
Yes there is: more widespread adoption, the plateau of market penetration at the top of the S-curve. It's value will be very stable then, more so than the DXY which has screamed from 80 to 100 in a short time and that measures multi-trillion$ of value.
* Limited supply leads to expectations of high value which leads to hoarding instead of use.
Hearding is good, investing is good, saving is good. Only inflationistas dream otherwise.
* Block reward leads to a hyperdeveloped mining industry supported by investors rather than by users.
As before, investors are good. How many people mine their own raw materials for products they use?
* For most people, irreversibility is a serious defect, not a feature.
Cash and gold is irreversible. This is a good feature of sound money.
* Risk of theft is too high for people who are not computer experts.
Early days in a new technology. Wallet software has improved massively, still a way to go, but in 10 years, very safe to own bitcoins.
I am sure that millions of people don't think like you do.
Or you. You are doing your students a disservice by not teaching them about Bitcoin in the way MIT, Princeton and Nicosia do.
Perhaps a million people have a reasonable understanding of bitcoin and believe in its eventual succeess. Probably millions of people also have a reasonable understanding of bitcoin but do not believe in its eventual success. The other 7000 million either haven't heard of it, or have heard of it but don't care to know more, or know just enough to dismiss it.
Handwaving. Only a few people understand the software in detail. The rest have to just see that it works: like smartphones, like quantum mechanics, like stem-cell treatment, like meteorology, etc etc etc. In case you haven't noticed a major feature of modern civilization is
extreme specialization. No one person can understand more than a fraction of everything.
691.
Post 10815798 (copy this link) (by solex) (scraped on 2020-04-04_Sat_14.05h):
I am not sure, but i think you do not understand how the bitcoin network works. Every day we have several "hard forks" in the form of orphaned blocks. You simply do not understand the consensus mechanism, if you insist that A and B blockchains can coexists - with the same mining power behind them!- for more than say 2 consecutive blocks (on avg 20 minutes), and that they both individually represents bitcoin as per se. No, they do not.
The whole point of the consensus mechanism is to only and ever follow the longest chain of blocks in the long run, a.k.a. deciding which chain of blocks (A vs B) represents reality, and totally disregard transactions happened in the less long chain of blocks once a the n+1 block found. Hence your theoretical "B" chain would be instantly will be abandoned by the majority of miners (mining is automated by algorithm, not a press a button every ~10 min if you accept or not), resulting in that all the nodes will continue downloading and propagating the longer A chain, essentially destroying the B chain by the time the next block found. That B chain n-1 block became an orphaned block.
Yes, you can mine your own forked "B" copy of the blockchain at your laptop - offline! - until you start synchronise with the network, your B chain gets instantly overwritten by the majority A chain.
Also, your B chain will not ever propagate because: the moment you fork, you also inherit the difficulty of the A chain. That difficulty is so high, that your laptop will practically never finds the next block (which by the way will be without any transactions, since you are offline from the main A chain nodes), and without no new block, your offline node/mining copy will never reach enough blocks (aprx 2600) to reduce difficulty. This means that B chain will be hopelessly shorter than the A chain -> rejected by all miners/nodes on A chain.
TLDR.: Your idea will never work -not even in theory, since you missing the point in the first place- because the whole point of the PoW census is to have only ONE representation of the true about transactions (unspent BTCs sitting on addresses). By the way any full node wallet has the whole copy of the blockchain, every time you go offline more than 1 block, your copy is forked from A chain to B chain (n-1 long blockchain)....
EDIT: if you think that the state of the blockchain is a political decision, you are seriously should STOP posting bullshit here please. You do not understand the very basic idea: consensus through mathematical proof independent of central authority ( which is politics...)
Well Said!
The sad truth is that not only does Jorge fail to comprehend how PoW consensus works, but he also fails to understand why Bitcoin is sound money. He has spent a year on here, most of that time totally wasted, including the time of many of us here in this forum who are willing to learn from others.
692.
Post 10976378 (copy this link) (by solex) (scraped on 2020-04-04_Sat_14.09h):
yes jorge take it to the technical discussion section you coward.
[
noise]
ok, so you found the fatal flaw in bitcoin ... go, make yourself rich exploiting it, let us know how your academic exercises pay off.
This is the problem: exploiting an idea means work, actually
doing something, which is the antithesis of ivory tower academia where the only "work" done is relentlessly attacking the work of other people.
693.
Post 11228139 (copy this link) (by solex) (scraped on 2020-04-04_Sat_14.13h):
Do you have tenure?
The system here is different from the American one, but yes, I have tenure and I already got all the promotions that I could have in my career as teacher/scientist. I could try running for university president, but there are too many profs here who know me already, so my chances of being elected by accident would be pretty slim.
You can never answer the real question: What is your motive for your extreme interest in bitcoin? (Always with your negative slant)
Because JS won't answer your question I will.
His extreme interest, always with a negative slant, is a combination of:
a) Extreme butt-hurt at not buying when the BTC price was $1, and can't stand seeing free-market libertarians making such easy money, so he wants it to crash to near zero, not so that he can buy cheap, but to see all BTC holders brutally punished for their hubris.
b) His Keynesian inflationista perspective which rejects a Bitcoin or other decentralized cryptocurrency-based world economy which would make all governments have to run balanced budgets, reining in Big Government, the massive socialist states, nanny-states, and surveillance states.
694.
Post 11269895 (copy this link) (by solex) (scraped on 2020-04-04_Sat_14.13h):
Would be nice if $240 holds now.
When it blasts to $300 it looks like $240 will be the bottom of any flash-crash later.
695.
Post 11290549 (copy this link) (by solex) (scraped on 2020-04-04_Sat_14.14h):
This is just in:
Huobi Will Now Take Your Bitcoins as Stock Trading Collateral. -- Huobi's new platform lets investors buy real shares on the Shanghai Stock Exchange, while still keeping their bitcoin holdings as collateral. --(Published @ May 05, 2015 at 06:07AM by
www.bitcoins.amhttp://bit.ly/1zvWCSm now this is interesting moves, this makes shanghai stock exchange become international stock exchange...
Oooh yes!
Just in time to be the last buyer at the peak of the Shanghai stock bubble, after it has been pumped, hyped, leveraged, fueled by decades of export cash, yuan printing, 16x-annual-income-mortgages residential property market, and eyeballs-deep-in-debt corporate commercial property bubble, and empty cities construction bubble. No more domestic buyers left in China. MUST keep super-Shanghai-super-bubble-stock-market inflated with foreign investor's BTC savings....
MUST be a silver-lining here
http://www.zerohedge.com/news/2015-05-05/china-stocks-tumble-most-4-months-australia-cuts-rates-record-low
696.
Post 11352847 (copy this link) (by solex) (scraped on 2020-04-04_Sat_14.14h):
Going to bed soon but I doubt this thread will have more than two pages having gone by prior to me awaken later on. What a disgrace this market is becoming and hence this thread's jokeular status atm.
Because nothing is happening. Two weekly doji in a row.
Does the word "launchpad" come to mind?
697.
Post 11363091 (copy this link) (by solex) (scraped on 2020-04-04_Sat_14.15h):
Just woke up in the marvellous Maldives.
Any reason for this particular spike?
Nothing too exciting at the moment but up is always good news.
With any luck we can surge to 260 by the end of the day.
What say you gentlemen
While you are sitting on the beach waiting for $260, you might find this interesting. Made me want to visit there when I read it...
698.
Post 11407304 (copy this link) (by solex) (scraped on 2020-04-04_Sat_14.15h):
So first trade just happened, with a price of 9.69 !!!
multiplier 200
1,938.00 SEK = 235.737 USD
699.
Post 11407489 (copy this link) (by solex) (scraped on 2020-04-04_Sat_14.15h):
Do you think it will have any effect on price? Doesn't look like it...
Needs that 75k sell eaten up first.
700.
Post 11409086 (copy this link) (by solex) (scraped on 2020-04-04_Sat_14.15h):
701.
Post 11708315 (copy this link) (by solex) (scraped on 2020-04-04_Sat_14.18h):
Looks like about half of the bid stairway went poof?
Yeah, tired of waiting and has to move it up?
702.
Post 11913610 (copy this link) (by solex) (scraped on 2020-04-04_Sat_14.21h):
703.
Post 11915582 (copy this link) (by solex) (scraped on 2020-04-04_Sat_14.21h):
Jeez. No trip to the stars without yet one more check of basement?
704.
Post 12005303 (copy this link) (by solex) (scraped on 2020-04-04_Sat_14.22h):
Yeah I think we can handle 2 MB or maybe even a hike to 4 MB, if it was held there for at least 3-4 years.
Doubling every 4 years, i.e. at rate of upload bandwidth limit growth, makes sense for the next 5-10 years ... and then who knows.
Marcus, what you say is very reasonable.
Although I have been supporting "increase the limit" all the while I wanted to see a counter-proposal from core dev which was something other than keep 1MB and see what happens. They did not even show much enthusiasm for Jeff's BIP 102, or even reworking it in some way.
705.
Post 12109394 (copy this link) (by solex) (scraped on 2020-04-04_Sat_14.23h):
At least Finex's bid wall won't remain frozen for as long as this one. (700 million years
)
706.
Post 12159302 (copy this link) (by solex) (scraped on 2020-04-04_Sat_14.23h):
$254.90 on Stamp. The bears are out in force by the looks of it, I'm feeling pretty negative at the moment, still going to HODL as usual obviously, I understand bitcoin is a long term investment but this XT bull shit with Hearn & Gavin is causing the price to tank imo. Weak hands are panicking & getting out
This price dip is nothing compared to the crash that would happen sometime next year when Core Dev allows the 1MB to cripple legitimate user tx throughput.
707.
Post 12160107 (copy this link) (by solex) (scraped on 2020-04-04_Sat_14.23h):
The mods at /r/bitcoin are now deleting every post that mentions the existence of the "other" implementation of bitcoin, whatever the contents. Dozens of posts that had hundreds of upvotes and hundreds of comments. And banning users who defend it, too.
So much for the great age of freedom and stuff that bitcoin was going to bring.
Oh, and the bitcoin "news" webshites, like CoinDesk, have been as silent on the topic as any statist newsmedia would be.
This makes me think that it is very possible that a lot of these individuals are selling their BTC out of frustration and being fed up with being silenced.
Yeah. CoinDesk is just like any one-party political paper seen in 3rd world countries, by maintaining silence on a Bitcoin story far more important than their usual offerings.
