some heavy trading engine throttling to prevent lag on gox..

Still got plenty more.

Besides, remorse is the 5000btc wallet lost to a corrupted bitlocker partition, or close to that lost to pirate.

Sent it off to 4 data recovery companies. Almost all datas intact, but the bitlocker metadata (including master key) are corrupt... 256 bit AES key

Metadata dosen't matter too much, the key is part of whats corrupt. Would me far more cost effective to attempt to brute force the silk road coins

The first few entire sectors of the drive are unreadable.

Heh, one more order of magnitude in price and it will be worth getting your drive under a magnetic force microscope. Maybe you should just donate it to an MIT (or Northwestern University) materials science lab and  tell them they can keep half of the profits.

(I did my PhD at Northwestern - they are a top materials science research university, let me know if you need a connection)

I'm way beyond messing with it anymore, if I ever find the drive, if i even still have it, its for sale to the highest bidder. I don't even know if I still have the recovery keys anymore, threw out a lot of papers when I moved.

Double top or plow right through?

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 massive and persistent arbs between the btc markets is proof positive that the fiat system is a dinosaur.

Man, wish Bitfinex APRs weren't 200+% now..  insane.

We should tell so Bitcoin haters about Bitfinex, and how they can deposit some fiat and loan it to us idiots and make 50% APR easy..  They wouldn't need to ever even touch bitcoins!

It went from 2100 to 2600 within a couple of hours though. Absolutely crazy. Everyone was screaming "sell". You know tops when you see them.

We're getting quite a bit of arbitrage from Westerners too; overseas wires are cheap and fast, but a limited resource.

well, i dont really hate them, but i do hope they all get aids and die in fire.

FFS did someone really lose a wallet with 27000 BTC

I would never leave my bed again.

You will need a working phone number. Other than this, no verification process.

Also keep in mind that it might be complicated to get (fiat) money out from there.

*checking chinese subforum*
https://bitcointalk.org/index.php?topic=329534.0

Maybe i should sell my massive amount of coins into that?

we haven't gone parabolic yet?

...

What's the countdown?

Hate to say it, but your count-down is a bit of a anti-climax Adam.

ok, so, as far as i can see you have been correct a grand total of 0 times! well done! whats your secret? why dont you give another fucking prediction you dumb cunt

sure, this is true, to an extent, but much of this is perception in the context of a bull market. but this is how it should feel in a strong bull market. that's the exuberance. good news is that much better and bad news is that much less important.

.....until reversal.

Why do people assume that this is going to be another march/April style 800% bubble? You are forgetting that back then the time in between the last ATH of $32 was an entire 2 years of consolidation. This time it was only 6 months. Were likely to see a 2012 style increase instead.

youre not actually illustrating what you are saying. can you show us why it is not like 2012? you can't see price action in 2012 on that graph.

Because it is muddling language. When you add meanings to words, the words actually get less meaningful. This serves a good purpose in politically charged topics as you can become more vague about what you mean without people even realizing it a lot of times. The etymology is fairly clear in this case, fiat means by decree.

Relevant:
https://www.mtholyoke.edu/acad/intrel/orwell46.htm

Looks pretty darn stable to me.

I'm with ya on that one.

The last time I acted on that feeling we were around $9
Now I wait and in another 6 months and the feeling will subsidie.

Much of the talk here is noise, no offense to anyone (and I spend hours here lurking, reading, and now, finally, joining the fray, so I don't dismiss the conversation), but truth be told, Google trends ('bitcoin") is the Magic 8 Ball.

This brings up an interesting point. What will the courts say when a divorce involves a substantial horde of bitcoins.

Be interesting test case, anyone want to volunteer?

EDIT: Reading the last few pages tells me the night had very little action, as all I see is a drawn out conversation over a word, and welcoming a new member.

Another leg down on Stamp, momentum drying up as selling pressure increases.

"Captain, I don't like the look of the mist."

Was just about to start a thread with a prize for picking the low but then I realised we can go back and edit posts and no "edited at xx:xx dd/mm/yyyy" gets added to the post. That's a pity.

I guess you need to establish the time zone.

413 and dropping  

Lol, yes. If absolutely all people would just hold like some are giving "smart" advices here, nobody would be able to buy a coin as nobody would selling them, so those coins would be absolutely worthless as Satoshi and 100 others would know about them.

"Buy and hold" gang (who would they buy from if everyone would do that..) are the biggest enemy of the Bitcoin. They're just too greedy twats to understand that.

Speaking of trapped GoxBux.... there may be no Tokyo if this happens....


"The Earthquake Research Institute at the University of Tokyo said earlier this year that there’s a 70 percent chance a 7.0-magnitude or higher quake will strike Tokyo, near Fukushima, by 2016. Should the fourth reactor collapse, Suzuki said, it would be “bye bye Japan,” and “everybody on the west coast of North America should evacuate. Now if that isn’t terrifying, I don’t know what is.”

Source: http://billmoyers.com/2013/11/15/what-you-need-to-know-about-fukushima/.

Hmmm... glad most of my coins went a little further away from Japan.

I don't trade on traditional markets, so I'm just wondering the following. Take for instance Google stock, right now it's floating around 1000$. I can't imagine the Google stock has the same shitty market depth bitcoin has, e.g. 1000 bitcoins (or 1000 shares) dropping the price by 40$. Why is it that bitcoin has such bad market depth? The price keeps going up but a few big dumps could drop the price back to the low 300's. I can't imagine the same thing happening to Google stock.

I tend to agree with him.  

As much as I would like to see crypto be the catalyst for a new, fairer economic system I think the 'fiat is dead' crowd is somewhat deluded.  Power traditionally comes from the point of a knife/barrel of a gun and the idea that govts will just let their economic authority be undermined flies in the face of human history.  

Of course, what has happened in Germany, with BTC adoption there, is a counter for this argument.  

It will boil down to "what's in it for us" and "can we control it".  If the current global hegemony can continue their control, they will let the masses use fava beans for currency for all they care.

not even 5000 coins till 500, can we please start tonights panic buying to get these last coins "cheap"

Panel II

    Ernie Allen
    President and Chief Executive Officer
    The International Centre for Missing & Exploited Children

I 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.

If bitcoin were so closely tied to child pornography, wouldn't the Catholic church have already endorsed it by now?

It's not likely. This isn't the first time this guy has appeared on a bitcoin-esque panel.

https://bitcointalk.org/index.php?topic=232950.0

The USGOV approach to crime fighting is highly financial in nature, and just like with the NSA, the Senate et al want to drum up policy that suits these objectives. This guy is mainly a scumbag from what I can tell, but he's not going nuclear on bitcoin, he just wants to be able to track transactions to discourage or prevent child exploitation.

Seriously, guys. You should have a look who this Matthew Mellon from CoinValidation is: https://en.wikipedia.org/wiki/Mellon_family

The ultra rich are getting involved, and they want their piece of the pie before it shrinks by another tenfold.

How would they get the Chinese to go along with that?

I guess sundays are not special days for them.

I think so too.
Ask wall after 3000 CNY is very low by the way, but hey, looking at walls is like reading tea leaves i guess.

Now the question becomes:

Is this the vertical of the Sigmoid curve or are we ahead of it and due for a major correction like in April?

The Gold Bitcoin parity meme will be the obvious discussion. Advantage bitcoin.

I'd say it is safe to sell some here temporarily. At the very least you will get a correction to this level (or lower) if not the crash. Btc has entered full parabolic mania mode, it has not tested the short daily ema since $280 and has not tested the long daily ema since $175. On gox it takes 2000btc to drop the price 20% to $500.

Tell me when you have it. Dreamer. There is no one in the whole forum who has succeeded in that, however easy it sounds.

I started online trading 15 years ago and have twice in my life been able to increase the number of BTC by more than 2%. Even that beats the average.

Buy on the dips, hold and just sell 10% when you already made a x100 unrealized profit. Forget about risk management, only sound strategy with BTC is "invest everything you can afford to lose". By constantly day trading you will end up with less coins, guaranteed.

Just wait to see what happens when 60k coins are rapidly dumped as it happened on April, 10th.

Very confused indeed. Your ROI is negative because you bought a BTC minting machine, and you would have bought more coins with your fiat that coins your machine will ever mint.

\

You must suck at math.... sorry for your lost.

It's going to have the shit regulated out of it. Coinvalidation won't have nothing on what the Gov will force American bitcoiners to comply with.

How much WIN? Is this even possible? This is like the "euphoria" stage, but this isn't fake! =D

Sell only when you need the cash. Or, use BTC for payment for goods & services.

Can't tax purchasing of BTC, only the revenue when transferred back to USD

Care to elaborate?

Has anyone heard them say "Bitcoin" or just "virtual currency"?

Rather good, in summary - speaking from the UK the US is being remarkably more grown up than we feared.

And may I add a little understated, British "Choo Choo!"

Hearing is OVER?!!!

NOOO. I want them to say.... BUY BITCOIN NOW!

Asian lady approves

Ernie Allen is honestly really helping our cause. I am very surprised but very happy to see how he is well educated and reasonable in this situation.

HAHAH 'tell me about who created it'

NOBODY FUCKING KNOWS

Turns out our very pretty lady in the background is with the foundation.

https://twitter.com/jinyoungenglund

Unfortunately, she is married.  

who fapped to her?

Yep finding a woman attractive is racist and sexist. Seriously what are you on. Do you think woman don't think [insert name of hollywood star] is a sex object.

I actually think what you are saying is more sexist that people saying "oh wow there's an attractive woman"

Who is this hot asian chick?

You're only succeeding in drawing more attention to the comment in question. Just ignore the poster and move on.

Is there no one left to predict an impending crash to single digits any more?

Boy will I be glad when the hammer finally falls and we start correcting. I don't care what price it happens at, I just want to stop giggling at these charts. This is getting positively Lovecraftian.

I'm feeling it... this is better than any drug.

The weird thing about the current "bubble", is that is going up so fast so soon.  Percentage-wise, if it is like previous "bubbles", we could still have quite a way to go, but the daily percentage gains are just off the chart, very reminiscent of a blow-off top.
Let's hope it's just an indication of the incredible demand, and there is a mega-bubble to come  Smiley.

Meet the Parents - Puff the Magic Dragon 
http://www.youtube.com/watch?v=dFCwtoxX60g

Excuse me people!
Can we please join forces and discredit this article written on ABC news website?
http://abcnews.go.com/Technology/bitcoins-virtual-currency-explained-idiot/story?id=20926230

It's the first result on google trends today. The writer is a total douche, the article is crap, he doesn't know the faintest idea of what he writes about or he maybe conveniently talks shit about bitcoin, misinforming.
If we politely write comments below the article dissing what he wrote and explaining all the positives that have been left aside, I think it would be a real contribution to the community.
Please, take 1 minute and leave a positive, polite and productive comment in favor of bitcoin!
Everybody will appreciate this. Quote this message in your replies here so everybody reads and helps

They're certainly taking it high. We're nearly back in single digits ($1 a mBTC)

No, that's 6092 Yuan.

Time to take a run at gold parity. Feel bad for goldbugs who have been waiting for THE MOON their whole lives only to see it happen in a digital gold. LOL.

I don't see how we don't have another "bubble pop" with this parabolic rise, but I'm starting to think it might not be till ~$2k, and probably only a brief flash crash.  So much risk associated with gov't seems to have gone up in smoke today.  That's huge.

Can someone tell me wtf is going on? 

The fact that it didn't capitulate there means we could be in for sky high figures this week now. That was a test. The market stood up to it.

oh shut up you dumb bear!

I think it's done and dusted mate. April was pandemonium. It only took hours because Bitstamp and Gox went AWOL (which of course added to the panic). Stamp didn't even blink through that.

I don't think it is orchestrated, but I think you are underestimating how the 0 fee changes behaviour. You buy, wait for a tiny rise, sell, wait, buy... etc.... you can make money but tend to want to lock it in very quickly. As a result ,the "volume" is massively exaggerated, when in fact it is relatively little BTC changing hands.... but makes for a very exciting and addictive game of pass the bag.

This is single-handedly responsible for the "China effect".

that's your explanation?

Yes I can: Bitmit went bankrupt, Silkroad seized, Wordpress silently stopped accepting bitcoin, some revelations about how nasty is part of the Bitcoin Foundation, BitInstant still and forever down, more banks freezing accounts

The US Senate didn't legitimize anything, what are you talking about??

Are you seeing a double top, or am I losing my mind? Still momentum in your opinion?

http://imgur.com/QrBlwaC

only 'shopped my blog's name out.

btcchina has not been reachable for me for 5 days.
goxbux are an issue of its own.

I second this. Can someone wrap it up. The building my office was in burned down yesterday (~10-15 BTC in casascius coins lost in the fire, among other things)... so I wasn't able to follow.

There is no final capitulation in Bitcoin: there is no physical bottom!

the cost of pulling it out of the ground,  it can undershoot below that, but it can't stay down there for long

sub 500 prices tomorrow

How so?

Another sell off developing.

why is Hillary still blathering on?

here´s the withdrawal options, anyone know what teenpay is ??

does it bring my money to my european bank account?

D-bag said ripple.

Psht, he mentioned Ripple like it is a real thing.

Remember when people cared about Bitcoin being mentioned in "the good wife" ?

For Ripple, you have to drink.... ripple.
http://www.youtube.com/watch?v=ciR7Fq2tqJ0

Cotner bank guy wants to "protect" us.
Chilling thought.
Keep your consumer protections in your pants mister.

You're welcome.

What defines going mainstream? I think the US senate dedicating 2 afternoons on the topic is enough for saying that it is going mainstream.

Nice comments from Hughes, neat that her dad was a cryptographer in WWII. She emphasized the importance of digital currencies as groundbreaking.

Much better to reply with a better answer that you have had time to reflect on, than a rushed one.

All in all some mixed feelings about this hearing.

I was more impressed by the senators than some of the panelists.  


Some of their remarks about the profound implications this could have on the economy, banking industry and central banks were absolutely incredible.
On the other hand, I really didn't like much of the regulation stuff.  And redhead lady was just f-ing awful.

Yup, typical "ringing" pattern after the overshoot blow-off. Same as April.

of course, i just sent my coins out of the exchange - literally 10 seconds later it dumps

I bought in with the rest of my fiat and missed this, so its debatable (10 seconds before)

694

oops

thanks though, don't worry be happy and all that.  Need a break from this, why did i think it would be different this time

Nope, bear trap.  May sit here for a week though first.   

What can we expect in the morning (european time), when the fresh money hits bitstamp? It's know that they didn't get deposits since friday... and as we can see on their FB page could be alot of fiat on the way
Jump back to 700$?

Alright its time I jump in and ask my obligatory "worried guy" question:

Bought 1BTC @ $717USD.  Do I hold or sell?

I have no strategy, no system, and most definately not a day trader...

FYI, I've "bought in" at a couple of diff price points so my weighted average cost per BTC is about $475...so that combined with my "greedy" nature is telling me to hold even though I'm staring at the blood-red candle sticks on this graph.

Help!  Talk this wanna-be Bull away from the Bear ledge!

I've got several bots but sadly I'm not "smart" enough to quite get them configured right. I bought the HaasOnline bot and the Butter Bot.  The various configs I've tried the past couple of times on each have ended up costing me -- so clearly I'm not getting the right variables configured in these to capitalize on the swings.  

I've got 7BTC left...after my bot misfortunes...of which 5BTC is "frozen" in my freezer into an block of ice.  The remaining 2BTC is what I planned to try and work with if it makes sense to try again wth the bots or just to manually trade for myself...

I would have laminated it but I dont' have a lamination machine.  I just got the paper double bagged in two ziplocks.  That is then folded and put into a small tupperware container...which is water tight...and then frozen.  My bank was asking too much for even their smallest safety deposit box.  I'm actually thinking of thawing it out and sending a copy to my family as a backup...  ONe thing I hadn't thought of is if my apartment building burns down or somethign...or if we have another Hurricane Sandy, I might lose the private keys...so I guess i know what i'm doing this weekend.

Its very obvious at this point that BTC is back in a upwards trend.

Its correcting right now not long before we hit $700

Sleep once a day is also very effective

A properly encrypted wallet stored on a few LUKS encrypted USB keys is the best bet IMO. Higher up the priority list is obviously, using a secure operating system, and only doing sane things on the computer you use for encryption.

So lots of people are waiting on bank transfers which is creating a huge influx of money?

and isotopes...don't forget the isotopes

This is it guys. ^^^^

I've been saying that since we reached the old ATH (266) we were at DEFCON 1, DEFCON 2 started at 2X, and DEFCON 3 was when the whale thumped 900 in our faces, and it still plays out into the blood on the street, that, really, is only *just* beginning. I studied the shit out of the trades in April, knew the patterns, and slept *very* little in the last several days, sometimes getting multiple texts at 2, 3, and 4, and was up by 5 the last 2 days. I've probably checked the prices, on average, every 6 minutes of being awake. DEFCON 3 is only 3 or 4 days, and the whole parabolic cycle (20-40 days) is just exhausting.

What did I learn-- that trading is fucking tough; yeah, I made some money, but I could have done a lot better... wait for it... if I had just bought and held. Perhaps, I, too, will pass through the circle of fire that is n00b.

Welcome to 2011 Reloaded.

You too will learn about risk management.

tl;dr Current Exchanges = Shit

Crazy shit always happens at the end of bubbles. That is just the nature of stresstesting the shitty infrastructure we have.

Cool, thank you-- nice site. And, historically, he wrote exchange software for BTC, or was part of Gox, or ...?

there is always undershoot

How'd the transfer go, how long did it take to put your account together, and is it tied to a bank account?

Can you Tor in, or get a proxy??? Zoinks.

Agreed, this is not April.

This is June 2011.

I wouldn't begin to be knowledgeable enough to really advise you.

Why would you recommend TOR...it works fine via normal ISP for me.  
Or are the Chinese BTC police gonna arrest all gweilo users  

It cant crash anyway, Gox have their 'anti-crash-security' system in place, so if the price is going too low they will freeze bitcoin, literally, until you agree to become a bull again.

You shouldn't make a market order, especially during the volatile period

Better to learn to never ever do a market order =) That's the button just for big manipulators.

Despite having accounts in all exchanges, havent been able to trade a coin today. Perhaps there would be an opportune moment to fix the root of the problem, since otherwise it will not get better, no matter how big bitcoin becomes.

@To the people who are using BTC-China:
As I understand it you can't get money out of china? So is the intention to repeatedly create panic selling and increase your BTC holding?
Do you think the panics in China will be greater than on Gox?

The only people who bought in 2011 are people who understand Bitcoin.
Again my point is take yourself to a normal person thinking strategy. Okay let me spell it out for you.
You now only have a high school diploma. You work at a factory, walmart, you're a waiter bartender whatever.
You have 3 kids, a tiny house, and a minivan.
You live paycheck to paycheck.
You took your savings ($10,000 or so) you put it into this Bitcoin thing.
Now you have $5000 worth of Bitcoin/savings.
You think they are still holding and hoping?
You think they haven't sold and are screaming and cryin at the top of their lungs I lost half of my life savings Bitcoin is the devil to everyone they know?

This is why it is bad. Because the people investing in bubble rises are people who think they will get rich quick (99% of the population which is why lottery is the most profitable thing for states) and when "healthy corrections" happen it's devastating to the reputation to Bitcoin and the bigger they get and the harder they fall the more negative news and I promise you the 99% don't know, care or believe in BTC technology they believe in their dollar and you Bitcoin took it from them.

$900 to $453 is a healthy correction?

Ask anyone in investments if a 50% crash in price is healthy. Good for business.

SMH only in Bitcoin.......

I agree (down trend), but let's take a peak at mutiple Commodity Channel Indices, with the top one being the shortest term. So, yes, we are bouncing, but there is a great downward force, in general (bullet holes in a water tank!?). Not that the lower index can't rise to the occasion, but, will it?

After some of the claims this clown made i can't believe he still posts here at all. Some people have no shame whatsoever.

You're an average middle class working family man.

You know for all you guys that scream mass adoption you're sure quick to call out "weak hands getting shaken out" those weak hands are your mass adopters.

You guys should really hear yourselves

My intention is to warn you guys to practice proper risk management because inevitably, even with a small investment, your Bitcoin allocation will be the main source of your wealth. Marginal utility of wealth dictates that it's more important to secure your first million than to make another.

I've seen it go down from 32 to 2 and it was a really bullish environment too until about 14. Don't fool yourself thinking it can't happen again today. That's just the nature of humans.

I find it strange that bitstamp is so close to gox now. There used to be a 100 points gap. What changed?

Exatly, combine that with Fibonacci Retracements based on a refactoring of the singularity in a quantum matrix!

How many roads must a man walk down?

sea shells VS gold

paper money VS bitcoin

pretty sure they ran out,


if you have not bought back in, bye bye train says

ch000 ch000 m0ther f0k0rz!!!

Heh, well, this didn't turn out to be the damped oscillation we thought it would be

IMO the people who wanted to take profits or cash out during the run up to 900 already did causing the correction (or crash if you will). The fact that it didn't crash completely shows there are a lot of people in it for the long haul. Now we need fresh money to come in so we can work on getting to 1000$. One should also expect a massive correction at this point since this will be the magical number for a lot of people to cash out for good.

I agree, but this is also confusing for me. It feels like we are "burning in" the $800 price... and yet it is so high above the exponential growth trend line.

*shrugs* I am just a buy & hold kind of guy, but my friends keep asking me if they should buy bitcoins, and I'm not sure what to tell them at these prices (... I always say yes, but I hesitate!)

That's not an exponential trendline.

The exponential trend line is a myth. Media awareness may grow at an exponential rate at first, but there is a "hype" effect that will cause it to eventually depart the exponential trajectory.

I believe we are seeing that now: all time Google Trends high, it is showing up regularly on network news, etc. It's not reasonable to assume that we can go from occasional web journalism to news networks without departing the trend.

Also, the amount invested by every individual joining the ecosystem will grow over time, since there's an intangible measure of "trustworthiness" Bitcoin gains by surviving each successive bubble.

Trend lines are fantastic predictors of the past, but their predictive power for the future is not so simple; you are drawing this trend, then assuming that the trend is created by some fundamental mechanism of growth. Unless you are correct in the assumption of some fundamental mechanism which will continue into the future, the trend will fail to accurately predict.

So really, without thinking about what the mechanisms of growth really are, it's just a blind guess.

Dear bitcoin, can we please rspect the most important, sacred day of the week, college gameday, and not make tese moves while we are out hammered drank, thank you.

I'm at bitstamp and I'm at the 0.2% ratio.

If you trade 20 BTC (16000 USD) Your fee should be:
32 USD To Buy or Sell...

You just haven't traded enough yet.

Looks like we may be in for some action, folks.

just under 500k and lol at racetractor r and d  

I double it back in April . Dont bother trading since.

We are going to FLY through $1000 like butter.  Wake me up at $1300-1400.  
(then again, I might just be getting overconfident)

And... this recent price increase to $950 is not representative of true growth in Bitcoin, it is being artificially pumped up.

All aboard the train! choo choo

Be careful with that.  Sometimes, the market can remain irrational longer than you can remain solvent.

Very cool thought-- I agree, we are in the midst of something spectacular (and historic). I can't help feeling both proud of and a little jealous of the guys sitting on thousands of coins (my mind almost implodes thinking about Loaded's 200k.

Also, when we attend the 10K/coin party (didn't they move it to 10K?), we need to wear name tags with pictures of our Avatars so I can recognize you guys. I gotta say I'm grateful to be here. Fucking p2p is the shizo.

btw choo choo  

Nice party to visit for some criminals with a few armed buddies

In Germany? That's not legal dude.

Plus kidnapping and torture are always nice options to have.

New 800btc bid wall at $951

Vigil tears == delicious like chocolate

Germany?  guess I missed a few pages

If I can't bring the Winchesters you can count me out

I'm sure we can work out a parallel gathering in Vegas

Ok whale-Santa, I've decided what I want for Christmas, but it'll have to be an early Christmas present. I want us to breach $1 per mBTC in the next 2-3 hours. Thank you, and merry Christmas!  

You know, bitcointalk is probably one of the message boards with the largest number of new rich people as well. Laughs like this helps cheer everybody up 

Is bitstamp completely out of money? They can't keep their head above $900. Is that cause everyone is cashing out?

Western Union? It would be so good. Karpeles all set for life (and his kids and the kids of his kids), and finally a serious and liquid exchange that can manage this insane exponential growth we are witnessing.

Look at mine: I never sleep! https://bitcointalk.org/index.php?action=profile;u=18158;sa=statPanel

With bitcoin what we "know" becomes lack of knowledge. It's a totally different animal, at least at this time.

How can an asset pushing so hard against its ATH be bearish?

Nice Fibonacci retrace if we look at the rise on the 1H chart from from 796 to 1073 and then to 913. Beautiful.

After the $1K mark today; I've been -literally- bombarded with questions about the "roof" the price will be "landed". I know that bitcoin is nothing like anything we know up until today; but still; we can estimate a projected value regarding something similar. Gold.

This is a rough estimation I did back in March (before the April crash). I think it remains pretty accurate to give you an idea. It's also posted at www.bitcoinvest.eu for Greek readers.
The money in circulation today ($USA) is 1,18 trillion dolars (data 20.03.2013, Federal Reserve). Gold minted during our presence here is now 171,300 metric tons. Therefore there's $6,888.5 per kilo of gold. The current (27.03.2013) gold value per kilo is $51,267 (http://goldprice.org/) which means this is overpriced about a factor of circa 7.5. That's because NOT ALL of gold is available for trading.
If the total lot of bitcoins reaches 21M (it comes @ 2140) and NO EXTRA DOLARS are being "cut" (unlikely, but say it is so), the projected theoretical value is 1,18 trillions of $ /21 Million Bitcoins= $56,190.47 per bitcoin.
If you now take in mind the overpriced hypothesis of gold; then you get the idea...

PS:
It's also posted here answering (guess) the same question...  
http://np.reddit.com/r/Bitcoin/comments/1rloww/serious_question_do_we_have_any_reasonable_idea/

If you have any objections; please let me know.

About the only thing that is in circulation is debt, as even cash is debt. Someone took a loan for it to be around!!!  

They do, but they become indebted to central banks or others to do so.

If the only one allowed by law to issue dollars, euros etc are banks (central and/or peripheral), and they only issue it as loans, then all money has to be debt, old or new.

Hell yeah. You were right from the very beginning.

Godspeed to you my friend!

He would be EXTREMELY stupid to do it.

And i dont believe stupidity makes you a whale (rich) in the first place.

What do you think will happen at 999.99 on stamp:

1: Wall eaten in 10 seconds
2: Wall slowly eaten
3: Wall withdrawn
4: Bouncing for several hours from wall

Make your guess quick!

WOW it flew right over your head didnt it?

A whale that you said is no longer a whale because they already cashed out.

Whoever still keeps their stash of coins now dont cash out like that. They probably understand bitcoin and not stupid as you think they are.

will remember they have 10000 coins

Nobody -read again- NOBODY who owns a 3 or 4 digit amount of BTCs is selling nowadays. It's all what they were looking for and patiently waiting, all this time. It will simply won't happen (unless they want to convince some weak hands to sell their stash to them in panic sells)...

Well, you have somebody selling 3k coins at $1k on Stamp

Do not forget that there are quite a lot +3k BTC holders that mined back in 2010, 2011 and 2012, and that never in their lives have seen more thant $50k at the same time. The sensible thing to do for those guys is to sell 1k coins and bring home their first million. They won't be "all set for life", but their life will VASTLY improve for the years to come.

You see, money has a marginal utility once you reach a certain spot. Securing the first million is much more important than making the second one. Sensible guys know this.

5. Wall eaten in 10min

This is the wrong thread. But 'gosh dang', what the hell is up with altcoins? My where worth aprox. 0.3 BTC three days ago, now they are closing in to 2.5 BTC!

LOOOOL, surf the forums, you are just saying the same thing some stupid things that were repeated over and over when we hit $22 at the end of January 2013.

It will at least double again before crashing. And it might very well implode for good at some point, but not before 5 figures.

Mark my words.

How much is an ounce of bitcoin?  

Not yet, when bitcoin hit 1242, Gold was at 1242.5 USD

Gold is now below 1242 but bitcoin has still never traded above gold at the same time

That oughta make headlines tomorrow.

That was... predicted urm.. Yesterday???

holy fucking shit we are going to hit $10000 way sooner than expected. the world is turning to btc faster than anyone could have thought, fiat really may become redundant in the not so distant future

look im just saying, the only reason why people think btc can go to $10000 is because if enough people start using it so much that it becomes accepted everywhere, such that the only reason why it would be worth $10000 per BTC is because fiat would become essentially redundant or worthless.  With another huge Chinese company, especially a state owned one, shows that this can happen sooner than people expect.

basically fuck the speculators, fuck the greedy assholes that think it can just be a get rich quick scheme and dont fully understand btc.  The move to $10000 is irrelevant of them.  what will get us to $10000 is real people converting their fiat because btc is better

(ps i know this has been said before but your comment suggests that you dont understand the way to $10000)

mate if you are such a bear and have no hope for btc then why are you even here

LOL but if i was a noob and i was buying it, who would i trust? how would i check quickly for myself

Here is a way:

You weigh it (on an accurate scale), than you measure the volume by putting it into a finely graded  measuring cylinder with some water. Note the increase in volume when adding the gold bar. The volume for one kg gold should be 51.86 cubic centimeters (ml).

Beat me to it. This is why I'd never buy a precious metal, especially gold. How can you ever be sure it's real?

Would a fake bar of gold ring different than a real one when tapped with a little hammer?

Wow, that was a fast ignore. Generally I ignore only after 30 days in the forum but this was an exception.

It's obv that I agree with you.  Heh.  When I first bought (way, way, back in Sept lol)  I thought I had fallen for the old 'buy at the top' trick at $122.

Interesting thought.. will nominating btc in mbtc make them seem less valueable to ltc?

Yes, yes.. I completely understand what you're saying.  Cool story!

I don't know any other languages, so I can hardly talk..  Very impressive in fact for having never been taught.  

I'll go in with you on that.    

China moves down a bit, gox follows. Stamp's orderbook bids a bit thin.

btw, why don't they just close the exchanges on the weekends like the stock market?

You misspelled "down, very suddenly".

Do you wish for it or do you see morpheus as bitcoin and neo as whale or bear?

I hope not but for others it will be good to get a lower entry point but i'm mor into holding.
I love holding things

noticed a pattern, just before the april correction, there was a huge LTC pump. (from .05 to .5 in 2 days).
Then a steady selloff; like one increased their btc stash significantly.
After huge LTC dumps at higher prices, the selloffs at gox started (like one day later).

Now, LTC was pumped from .08 to .5, now steadily dropping with huge (several times >5K btc) selloffs.
Pattern? Bad sign?  Or just coincidence?

It looks logical to increase your BTC amount by playing altcoins, if you have a decent amount of btc you can really manipulate the altcoin market. Then cash out the profit using btc (gox), causing a drop and hopefully a panic sell.  Then buy back low.  I guess you'd be able to make at least x10 using this in a few days, if you are lucky and have the balls.  Anyway, by only gambling with profit from the altcoins the gambler doens't risk anything...
 

Are you also in the habit of shouting "FIRE!" in theaters?  

The more interesting data for comparison, I think, is actually what volume tends to be during calm periods. It makes no sense to compare the present volume to what the volume was at the beginning of a giant price spike.

I should also point out that this hypothesis horribly fails backtesting, considering that we did indeed have a "crash" less than two weeks ago and nevertheless continued upward movement on increasingly thin volume.

Bitcoin is a store of value. It's only natural that when the market cap rises, higher % amount goes to long-time saving. Volume in USD has staid nearly the same.

(Seems like you desperately want to buy back in, doing anything for the USD win)

You are starting go look desperate now. Sad.
Not saying it won't crash but we all know why you are making these posts.

A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave.

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OK, finally I got it. Everybody is just envious because I have $millions and they don't, and I did it in the very coordinated way that never risked the majority of the position, in fact at current prices the remainder of the position is already worth more than the whole of it before divestment.

When you cannot argue against operational excellence, you whine. No whiners will be invited to the inauguration ceremony of my castle, however.

Sorry to be so blunt about it but this seems to be the only realistic explanation for the whinery, am I not right?

I tried elsewhere with no result, so can someone here explain how this can happen -> https://blockchain.info/da/address/1CMMBYkiB3AVXbysaYuFEepSJTVRggFaNm

A friend sent 0.9 BTC to my brain wallet by scanning the QR code in my Blockchain wallet app. Exactly 10 sec later a transaction is made from my brain wallet to an address I cannot identify. As if it automatically forwarded the BTC's. What the heck can I do? It's quite a lot of money just laying on some random address now..

agreed with niothor.

This is just a reminder to those who might have forgotten or those who are new to bitcoin.

Rpietila is shouting doom and gloom all over the forum, but until the beginning of the year he was predicting a bitcoin valuation of several hundred thousand USD. That was whilst he was in a manic phase, during which his behavior on these forums, as well as in real life caused much sensation and is well documented for those interested in using the search function.

He was subsequently involuntarily hospitalized in a psychiatric facility, diagnosed with Bipolar Affective Disorder, with multiple delusions of grandeur. He now seems to be in a depressive phase of his illness and is spreading doom and gloom on the speculation forums. Either that, or he has sold just before we hit 1000 and is now regretting his mistake.

Either way, thread carefully with him

Just sent 0.0001 to the same address to check if it would still automatically forward to the other address. It didn't: https://blockchain.info/da/address/1CMMBYkiB3AVXbysaYuFEepSJTVRggFaNm.

When the crash comes, I think not many in the forum is buying. After going to $2k and crashing to $1k, would you really buy? Everybody is shitless by then. It is completely at the mercy of the new money then.

I agree. The argument that most or a large part of the new money is "additional" investment is probably his weakest argument.

LOOK AROUND - bitcoin news is one of the largest trending financial news story of the last month IN THE WORLD. Yes, the entire world. Probably top 10 financial new stories this last month.

A small % of the 6.5 billion humans on the planet that were not early adopters are investing in bitcoin. That is where the new money is coming from.

More new money is coming in next week by the way. Which is why the market will continue to go up next week too. This is not rocket science guys.

So very true. I think this every single time I hear about the "value" of some of these companies.

Instagram was sold not too long ago for many billions of dollars. How the fuck can they possibly expect to turn over a profit? By advertising to 14 year olds who think a grainy photo is cool?

Sometimes I think another dot com bubble is on the way. This is exactly what happened 13-14 years ago - people were throwing insane amounts of money at companies with no real business model (I realise that some bears will probably say the same thing about Bitcoin. It has legitimate potential. So, whatever).

I just hope Bitcoin doesn't get hurt when it all comes down. Maybe the stock market crashing would actually strengthen Bitcoin.