sounds really dangerous to do this kind of thing...

i would expect that when Mr.M start pumping, he won't be able to buy back 1/3 of his stash. and there's a really good chance someone throws in a few million and totaly fuckes up his plan.

i ask for neither praise nor abuse. but one without the other is not honest.

I'm really surprised this doesn't get mentioned more often, but, there are a lot of people out there now, wealthy people, early adopters and new players alike, that have vested interest and a genuine belief in this technology.  The market is thin enough that these people can help ensure the price and volatility does not reach a level that could cause a level of panic which would create harm to its now escalating adoption.

The U.S. government is attacking this thing with flailing arms, and while it can scratch and do some superficial damage, the mark will be missed.  This time, it really is up to the people.

Bulls on Bitstamp are shifting a gear up.

Wtf   Walsoraj $180 by friday, adamstgBit epic crash in 5... 4....Have the accounts been hacked?

You're right. It actually lead the rally on the last leg up. However, it really amazes me why so many people still use it. Its almost like psychotic nostalgia. Its obviously a high risk exchange with even higher prices. I guess its more volatile though, so better still for daytraders.

+1

@shroomskit: is your avatar pic deliberately showing self-mockery or just a coincidence?

That it is making its way to the market.

That the twins have bought something like one hundred thousand bitcoins - at what price, we don't know - and are about to cash out some of them.

1k bid wall up at $210. Not quite sure if it was moved or if it's new... Bitcoinity is often off.

1.4 k dump but with little success...

I think we will know when bitcoin has attracted too much attention when the US Government outlaw it. As in, anyone doing business in bitcoins is classified as a money transfer business and either has to get a licence or quit it. At the moment the wall street bankers are attracting most of the attention of Government trying to recoup some money from 2008 fiasco. But if bitcoin gains too much attention, and somehow is no longer is allowed in the USA, see how strong the coin will be then.

i'm in the us and am worried about this scenario. I assume the price would drop dramatically if the US tried to ban it, but if China and much of the world uses bitcoin, wouldn't the value simply spring back up?

is that from the princess bride? 

What about CampBX? Do they not look legitimate? Their price has been low, and liquidity pretty small, I even wonder how/why are they continuing this business, it doesn't seem profitable at all.

You could always donate them to me!  ;-)  It would sure help my .19 BTC wallet expand slightly...


1L8waShNounfcxzCk4bsWr7Re1xRtmyvvP

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.

It's pure manipulation. Read the forum history, there's a lot to read but you can pinpoint certain people on this forum who pop up just before ATH's and pump the price to the max then dump relentlessly. Then patiently wait to do it again.

Well, since you apparently have your facts straight, please point me to a source that verifies you claim that "China is the absolute #1 investor in USD".

All the bears, who didn't catch the train at 350 or less, are now building a narrative of a 'big risk' of the goverment shutting down Bitcoin, as if it was feasible. My guess is absolutely nothing will happen from government side as a result of the hearing. Politics and law-making takes time, and everyday the Bitcoin-infrastucture and knowledge is growing. No politicians will want to attempt shutting down Bitcoin as it would be widely covered (resulting in bad PR), and there really is no legimate reason for trying to do so. + they would likely fail.

So, there is no scenario where politicians claim Bitcoin is used for terror and it's 'game over'. What a ridiculous claim.

wow - falling fast on Stamp. Not sure if I want to catch this knife... .

wow, a lot of bears begging for cheap coins.

300?

no.

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

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

Make no mistake about it, Fox news is an enemy of holders, and they have a lot of sway in the US due to a relatively large viewership. I would be shocked if Bitcoin were ever presented in a positive light on that station.

Early adopters, each and every of them, have sold loads already, their "buy and hold" advice policy is for those poor noobs so they don't ruin their party and chance to sell some more higher.

Mind you, it was tempting to not sell all or most earlier after acquitring their coins so cheap so hats of to them for not doing it but they're still full of shit

Everybody cares about it as the outcome of it will have an impact on the price. Good or bad.

I think the total bid depth on Gox is more surprising than the price.  Why is so much money flowing into Gox?  Not only are coin prices significantly higher on Gox, but it's practically impossible to get money back out.  I really don't get it.

An interesting thought struck me earlier - now that the majority of my personal wealth lies with bitcoin, what would be the best and most secure way of leaving them in a will?!?  If I were to get run over by a truck tomorrow, my coins would probably be lost.  None of my family or friends would have any idea what to do with paper wallets either 

You should write a treasure map with shady and mysterious instructions of how to get access to your bitcoin. That would be awesome 

Ben Bernanke, chairman of the Federal Reserve, is also weighing in on the hearing, saying that it has no plans to regulate the currency.

“Although the Federal Reserve generally monitors developments in virtual currencies and other payments system innovations, it does not necessarily have authority to directly supervise or regulate these innovations or the entities that provide them to the market,” Bernanke wrote in a letter to the committee.

Underwhelming, I don't think that will move the market in any direction.

its really like 100 $ lower than btchina

i don't get it. even if there is not enough buying power to raise the price, the sell orders should vanish and reflect the price of the other markets, right? why would anyone have a sell order for 501$ when the price is 580$ on gox and 600$ in china?

All these "profit taking", "locking in profits" strategies never work and you will regret when btc trades at $1k

You've been warned.

Bitcoin is much more than digital currency. Those who understand will not "cash out" or "taking profit"

I see a future where bitcoin blockchain is the infrastructure for all digital assets. Its the technology that make it possible.

We're the early adopters and we dont need "cash" to be wealthy!

Why is Bearstamp doing the opposite of all the other exchanges? For the past couple of hours they've been slowly dropping in value, but all the others are either holding steady or rising...

There's a part of me thinking that, at least in the eyes of the non devotee, Bitcoin has just embarrassed itself. Pissed it's pants in the playground of public opinion out of over excitement. The day after just about the best PR anyone could have ever expected we've proved conclusively how fucked our infrastructure is - how manipulated our markets are - how sentimental the idea of a crypto currency as the guarantee of any stable value is. Not only are the markets rigged, effectively run by an unholy cartel of early adopters, Miners Guilds and ASIC manufacturers: but the three biggest Exchanges in the world consist of a perpetual motion machine running on thin air, a market who's operation is so opaque that not even the most heroic of commentators appear to have one_fucking_clue of what is going on with it and a clunky start-up in a country with a banking system on the brink of bankruptcy.

Way to go BTC - mass adoption here we come. Not.

ps.  Still on the train - just pissing in the boiler so to speak.

I hope the price won't raise yet after the upcoming hearing. I want to buy allot but my money will be transferred to my bank account tomorrow.

Any guesses to why stamp is slowly dropping all by it self? Delayed reaction because of ddos?

Has the Senate hearing started?

What's the vote at 5?

Indeed. I'm trying to get money into bitcoin RIGHT NOW, and I just can't do it. And that's with me having a verified account at Gox and Coinbase. No coins, or 7-10 day international wire transfer? Hmmm. Well this blows.

Am i fucking seeing this?!

Agreed, this is not April.

This is June 2011.

Remember always that whalelish guys like rpietila and nemesis or goat for that matter can troll to get more coins. Rpietila and nemesis has even confessed this.

4 hour chart going DOWN  , its bear time.

People are so panicky. Crazy. If someone even farts people just hit the sell button in total panic.

One word: Volume.

Despite gox's problem, they have the highest volume and the most amount of experience handling the most amount of money. You could probably trust bitstamp with that much money, but good luck buying a million dollars without radically changing the price and losing to slippage.

Gox has problems, but they always sort them out- supposidly the larger you are a client, the faster they sort things out too. :-)  

noob question: how come Stamp and Gox are on the same btc value now?

There was an Arvind video on bitcoinity that showed him getting High!?

Memo to would-be weekend manipulators: your shenanigans are becoming sad and pathetic.

Most coins are now held by strong hands not stupid enough to believe that whales would permanently liquidate large coinage at the time of the week when there is the least liquidity.  We all know you are trying to trigger fake panics and bearish technical formations.   And we know you intend to buy those coins back just as quickly as you sold them.

If you want us to stop yawning, do a dump on a weekday, when people are awake, during real banking hours.

Sorry, I don't want to see a mass adoption bubble right now. Too early. I'd rather have 5-figure coins in the future than a mad gold rush now and millions of Chinese losing their shirts in a massive bubble.

Yet I have to see the big drop to 300-500 that so many oldtimers here seem to be expecting.

And so we continue to do nothing....

And there will be another sell-off.

The question as far as I'm concerned is whether this is real or some type of dead cat bounce.  I mean to get over $1000, close to $1100 would mean something to me.  If it stalls out soon though I'd be worried it's headed for another drop.  We'll see I guess.  Anyone familiar with characteristics of dead cat bounce?

hopefully they are all trying so eager to create their own coin that bitcoin stands out of the corporate coin zoo.

This is positive news for Bitcoin, is it not? Or are we worried about how this could impact Bitstamp?

Incorrect. Phew. Understatement of the century. If you have read any of my threads, you know very well that I know a lot about many things, and actively use this knowledge to my advantage.

Someone wanna summarise the last 40 pages for us europeans?

Yes they do, and no, their not sharing.

aaaah, the smell of denial.

And here I was, thinking this downtrend might be over already... but there you are, guys, coming up with all kinds of explanations why "price is kept down artificially".

Funny, because there's much less conspiracy around when the price is going up, huh?

Its sometimes hard to keep up with the new sockpuppets but its better than suffering.

Pff. I missed the top of the sucker's rally. I was temporarily busy with real life, how annoying.

As I expected the Chinese started the second wave of dumps. Now it is going to be interesting to see how much the other markets do care. There is a lot of fiat left at the exchanges, making people nervous.

this is the end

*buys more popcorn*

BTC China told CoinDesk it is expecting to reinstate deposits in RMB soon. Bobby Lee said he is now working with another third party payment company to try and reinstate RMB pricing, and is hoping to make an announcement on the Weibo account in the next few hours.

haha, I'm getting closer to that, have to review that screenshot and add some to my ignore collection.

I am going to ignore anyone who is posting either bullish or bearish knee jerk thoughts outside of this thread.

as long as you post it here, you'll probably be fine 

Very Important Christmas Gift Advice :

This thing is currently way overbought and mid-term overvalued considering the chinese exchanges current state of affairs..
No more fresh CNY, not even bank transfer cause the exchanges never used them and won't be allowed.
No more frenzy buying by china gamblers, no more capital control bypass trick. Remember they were the one that ignited this baby.
 A $100-$150 difference in price tells volumes,that china is weak though they account for 20%-35% of the btc market.
In the coming days they will be dumping on other exchanges, especially on bitstamp to get USD at the best rate. Selling pressure will be overwhelming.
All chinese exchanges reinstated fees, to milk while they can, until they  move to HK with NO big fat pocked china man ot simply close shop! There is no way around that.
Yes i'm saying all that after i sold and happy in fiat without loss . And don't worry i won't buy back your coins until lower lows are achieved 

You can thank me later for saving you from losing some $$$ 

Uhhh Not really 

Stamp:

Sell   Dec. 19, 2013, 3:13 p.m.   -13.61895395 BTC   $9,383.46   $689.00    $18.77
Sell   Dec. 19, 2013, 3:13 p.m.   -0.28899855 BTC   $199.12   $689.00    $0.40
Sell   Dec. 19, 2013, 3:13 p.m.   -0.08500000 BTC   $58.56   $689.00    $0.12
Sell   Dec. 19, 2013, 3:13 p.m.   -9.37674891 BTC   $6,460.58   $689.00    $12.93
Sell   Dec. 19, 2013, 3:13 p.m.   -52.63029859 BTC   $36,262.28   $689.00    $72.53

Did you buy your account?

Have you not seen the exact same thing posted a gazillion times, over and over?

Why did you see a need to buy an account?

second half of 2014 though, hopefully a lot more important things would have happened by then

a picture will always transport the message. say to him that the man inside the ellipse will be he after the adaption of Bitcoin by Overstock next year.



 

In case anyone's wondering, an A&P is an aircraft mechanic.

You really want tears in your eyes.... watch this http://www.youtube.com/watch?v=dHchmWsrfUo&hd=1

And mine
You are welcome 

Thanks for a nice xmas

RP what I don't get is if you truly truly believe your log charts of 12x growth every year then why even trade? You are risking tens of millions of dollars in order to make a few more tens of millions. Isn't there something more worthwhile of your time. Like maybe starting a foundation or something?

Fortress is first. And so it begins.

i hear you, this whole thing does indeed reek of he-who-shall-not-be... er.. Matthew.

but, not being involved, im prepared for a good show either way

LOL There it is! Yeah I was just doing similar calculations. This has revealed their 'price pusher' bot to the world, hahah. That thing has been around for a least a couple weeks now. My theory is more that they hit the panic button when the market went in a direction they and their bot didn't want.

Glad to see the ButtHead, I mean, CoinBull followed through on his bet.

Not. Shocking.

do not forget to support overstock! do your part!

yes CCMF

Looks like it has failed to break out upwards

We're gonna go below 800 thats for sure.

I mean more so that it's sort of a moot point. Obviously if I post a buy/sell target, that's my position. But there is this nagging assertion around here that this is done to manipulate price. That seems absurd to me, but I guess some people put a lot more weight on this forum than others.

Silk Road dump incoming - 26,000 coins.  FBI has said they are going to sell.  Judge has approved sale.

http://www.forbes.com/sites/kashmirhill/2014/01/16/the-feds-are-ready-to-sell-the-silk-road-bitcoin-kind-of/

This is not confirmed, but even if it is, it's bad news as these merchants will cash out all their bitcoin and will further crash the market.  I have confirmed the last part where I just wrote "even if it is, it's bad news as these merchants will cash out all their bitcoin and will further crash the market".

God gives bitcoin the thumbs up:
http://www.coindesk.com/legendary-game-programmer-john-carmack-guardedly-excited-bitcoin/

Has the gov still not released the Gox funds from months ago?

DogeCoin just got 13% Amplitude lol.
Amazing, Imagin BTC would just skyrock 100$ in one time haha 

Altcoins are much better way to increase number of BTC than btc vs fiat trading.

When we talk about unrealized gains, yesterday was a third month when I cashed out like 5 BTC. That's how I decided to hedge and gain some realized profits - selling for 4-5k$ per month. It's quite enough to live more than comfortably and to spare at least half of that where I live.

In German, I believe that means "The Bitcoin" 

SHA-2 being broken is always a possibility.  Keep in mind that all public crypto schemes rely on a conjecture
for which there is no compelling theoretical argument or empirical evidence,

And there are many other developments that could make bitcoins worthless, for example

* The US government bans crypto-currencies.
* Everybody chooses to use Dogecoin instead of Bitcoin
* The Bitcoin blockchain stops being maintained because
** Mining becomes unprofitable
** Other crypto-coins become more profitable to mine
** It got all messed up and the network cannot agree on the fix

and so on.  Surely there are many more possible disasters no one has thought of.  (One year ago crypto-currencies were believed to be untraceable and un-seizeable, for example.)  That is why one cannot put a probability on "price will crash to zero"...

The nuclear industry once sponsored a very thorough safety study that examined all the ways in which a nuclear plant could possibly fail, and concluded that, assuming several hundred operating reactors, there might be one partial meltdown every century or so.  That was before Three Mile Island, of course.  According to the principles of that study,  three separate reactors melting down down at the same time would be less likely than a meteorite killing Santa Claus; and the possibility that an unloaded reactor could explode and become a major nuclear risk was not even considered.

NASA too once sponsored a very detailed study of the Space Shuttle's safety.  It concluded that the chances of a total loss were about 1 every 100,000 launches.  The actual rate turned out to be 1 every 50 launches.

I can think of at least five ways:

1. They were hacked and tons of their bitcoins were stolen.
2. The police seized a large chunk of their assets as part of crackdown on criminal use of bitcoins.
3. They wasted a fortune buying bitcoins at 10-20% above market.
4. They sold the clients' bitcoins at 100 USD to invest, price rose to 700 and they could not buy them back.
5. They reformatted the hard drive that had the only copy of their private keys.

And there are surely many more.  The immagination of incompetent managers is amazing.

Bitcoin is currently in a denial of service mode.

"aantonop: Tx malleability is now used in active broad-based attack against bitcoin network. Funds NOT at risk, but Denial-of-Service in progress"


Meanwhile many Bitstamp and btc-e withdrawals have gone AWOL.
https://bitcointalk.org/index.php?topic=459836.40
https://bitcointalk.org/index.php?topic=459464.0


Some panic is in order. Kindly SELL in orderly fashion, before we hit the cliff.

Wow, I have been following this thread for a while now, I think I am going to stop. Seriously, for every one legitimate remark, there are hundreds others that do nothing but obfuscate reality and regurgitate media frenzy.

This thread now resembles the cesspools that are the Baby-Pips or ForexFactory forums in the way disinformation is spread based of half-truths and delivered with so much emotional baggage, you'd think the authors are packing for a trip to Mars (or the Moon right?).

Anyways, I digress - enjoy the feces flinging, if you are into that kind of thing.

The BTC price on MtGOX now (580 USD) is already less than half of its all-time high on Nov/28 (1242 USD).

On other exchanges it is still somewhat above 50%.

Don't know about you, guys, but I am going to have some fresh fiat on Stamp tomorrow, or the day after. This is too good an opportunity to miss out on!

Don't think we're out of the bear market yet, but at least for the next few days I can see us regaining a bit of ground. Bid/ask on stamp looks extremely good, when viewed over a 1 week histogram.

By the way, wouldn't it be better if Gox would suspend all trading until further notice when he made the initial announcement?

This forum is almost as batshit crazy right now as when we were at $1200.   The agendas are out in full force.

Is the bottom in? No. But its getting closer.

Reading some more fiat for a purchase soon. Probably within the next week.

Meanwhile, bears, enjoy the ride. You are making cheaper coins available for all. And I thank you for that.

somebody took a shit on stamp or what happend?

If you do this in the speculation forum, you won't have anything left to read.

Granted, those are speculators, not users.

yes, it is me...

I do not intend the term as negative.  But the use of bitcoins for speculation or store of value is a side effect that is not strictly necessary for its goal (cheap safe etc. payment via internet) and may be a an obstacle to it.

I have yet to see a convincing model (with numbers) of the bitcoin economy in the bright future; much less how we can get from here to there without being steamrolled along the way by banks, governments, and other competitors like Apple and PayPal. (I read somewhere that PayPal is already blocking any payment related to bitcoin.)

The fast increase in value, for example, seems to have attracted a lot of undesriable players (greedy speculators, shady investors, incompetent businessmen, scammers...) which are already harming the project's image.

Exact,y that's why I wrote on page before that he is teacher and they are not really exciting ones.

They tend to play on safe, and there's no place for that in crypto at this moment. You either risk hard and make it big, or you fail trying

    Deifenbach: Mr. Lundegaard, this is Reilly Deifenbach calling from GMAC. How are you this morning?
    Jerry: Yah, real good. How you doin'?
    Deifenbach: Pretty good, Mr. Lundegaard. You're damned hard to get on the phone.
    Jerry: Yah, it's pretty darned busy here, but that's the way we like it.
    Deifenbach: That's for sure. Now, I just need, on these last, these financing documents you sent us, I can't read the serial numbers of the vehicles on here, so I--
    Jerry: But I already got the, it's okay, the loans are in place, I already got the, the what, the -
    Deifenbach: Yeah, the three hundred and twenty thousand, you got the money last month.
    Jerry: Yah, so we're all set.
    Deifenbach: Yeah, but the vehicles you were borrowing on, I just can't read the serial numbers on your application. Maybe if you could just read them to me--
    Jerry: But the deal's already done, I already got the money.
    Deifenbach: Yeah, but we have an audit here, I just have to know that these vehicles you're financing with this money, that they really exist.
    Jerry: Yah, well, they exist all right.
    Deifenbach: I'm sure they do, but I can't read their serial numbers here. So if you could read me--
    Jerry: Well, but see... I don't have them in front of me. Why don't I just fax you over a copy?
    Deifenbach: No. Fax is no good, that's what I have and I can't read the darn thing.
    Jerry: Yah, okay, I'll have my girl send you over a copy, then.
    Deifenbach: Okay, because if I can't correlate this note with the specific vehicles, then I gotta call back that money.
    Jerry: Yah, how much money was that?
    Deifenbach: Three hundred and twenty thousand. See, I gotta correlate that money with the cars it's being lent on.
    Jerry: Yah, no problem, I'll just fax that over to ya, then.
    Deifenbach: No, no, fax is--
    Jerry: I mean send it over. I'll shoot it right over to ya.
    Deifenbach: Okay.
    Jerry: Okay, real good, then.

Oh and. If true Fonzie, if you work at coindesk, than all your trolling/being a dumbass explains alot.

Net says that Satoshi owns 1 M pre-mined BTC, perhaps other "founding fathers" too?  Although of course they are not "known people".

Coinbase is very reputable. You should be able to trust them.

This is actually good news. I applaud Mark and the MtGox team for making the right decision as I had to do the same. Speaking very lengthy to Mark and the team over the weekend, I see good news on the horizon for people who have funds stuck in MtGox (I also have funds in MtGox stuck) - Charlie
Edit: Verification: https://twitter.com/CharlieShrem/status/437796742235308032

I'd take Charlie more seriously, if he didn't speak Doge

Anyone who trusts the words of "Charlie" is dumb.  

How does the same person confirming what they said previously make the initial claim more valid?

The biggest problem is it makes a ton of sense -- since when does Bitcoin operate under such parameters?

You wait for next swing, it happens few times per month easily. One could make a nice salary just doing that with 100 BTC waiting Stamp and BTC-e to change the lead in price.

Hardly a weird trick, it happens all the time. Bitstamp was 10-15$ above BTC-e for 2 weeks or so until that whale had put a wall yesterday, at one point today it was 25$ below. That's 40$ of profit per 1 BTC and all in downtrend where those 40$ can make more coins than 2 weeks ago.

And things like this happen 1-2 times per month usually.

I bought pi goxcoins for 1/pi bitcoins each, just for fun.

I yearn for a complex wallet.

I underestimated how stupid people are. I am kicking myself for not profiting from this. I am all BTC and I think it's too late now.

Lawsuits are the standard instruments that customers are expected to use when a company defaults on their contracts.  Why are MtGOX clients so reluctant do do the natural thing?

Gox is freaking out for some reason.

bitcoinbuilder is such a fail.


people who wired some fiat to mtgox and were betting against mtgox insolvency...

well, you might have a gambling problem.

This is an excerpt from the 'leaked' document. (emphasis mine)

"The reality is that MtGox can go bankrupt at any moment, and certainly deserves to as a company. However, with Bitcoin/crypto just recently gaining acceptance in the public eye, the likely damage in public perception to this class of technology could put it back 5~10 years, and cause governments to react swiftly and harshly. At the risk of appearing hyperbolic, this could be the end of Bitcoin, at least for most of the public."

How do you put back a technology 5 to 10 years that is barely 5 years old?
I guess you tend towards the lower end.  Or perhaps he meant to say 5 to 10 weeks.
Also notice the phrase "this could be the end of Bitcoin".  Sound familiar?
It looks more than anything like the wording was chosen specifically to create a panic.

edit: bolding

On mtgox.com source code:

<!-- put announce for mtgox acq here -->

Meanwile bitcoinbuilder has gone tits up, darnit...

more html on gox source

jesus guys, help me out here

It's hard to believe that the usercount will stop and stay stable. In my idea, it will more probably either increase or decrease.
But what remains the same is that the inflow of new coins will slow down and get more expensive.
All of it combined will keep bitcoin far away from stability.

Yeah, exactly! Most of the people are here because they are interested in buying low and selling high, so they can make a easy buck. People aren't here because bitcoin is a practical currency for everyday use. It's all good fun, but bitcoin can't become a serious financial tool because of that.
But, I think that the idea of open sourced and transparent monetary system, that is supported by the internet, is very important and it is the future. Bitcoin is just financially too simplistic to do the job. Something more complex has to be made to create a practical currency, that follows the same open source rules of transparency.

Bitcoin is a cult. Confirmed.

Well, what was true in 2012 is true now. Not much has changed in bitcoin structure that would make this argument obsolete.
Yes, markets needs buyers, sellers etc. It's hard to understand what you're trying to say with that. It certainly isn't a counter-argument to currency needing stability and bitcoin being unable to offer it.

Can't you understand that trading currencies with one another is different from A currency being a good investment?
It would also be ok, if people are buying bitcoin to trade with other cryptos and to make money with trade. But people buying bitcoins are buying to hold and to wait for as long as possible to sell. It would be like someone on forex buys USD or CNY to hold and become rich by holding.
Don't try to confuse two totally different things with one another please.

Sorry if this was posted already:

Jesse Powell's Blog
Unilateral Statement Regarding Fucked Up Shit, and the Greater Good
http://jesse.forthewin.com/blog/2014/02/unilateral-statement-regarding-fucked-up-shit-and-the-greater-good.html

Sounds more like "when they have never sung at the opera."  

Seriously, how many times do I have to write that I believe that cryptocoins can be great payment methods, and wish them all the success at that?  My skepticism has nothing to do with those aspects of cryptocoins, and me using bitcoin cannot possibly tell me anything relevant to the sources of my skepticism.

Mtgox BTC still selling for $50 USD! Bitcoinbuilder keeping the ghost of Mtgox alive! Josh actually posted new warnings about Mtgox insolvency that you have to agree to before you can continue trading.

The following guy is just not accepting the reality of the situation here.
2681.47000000   GOX for    0.80000000    ฿ ea.

Nothing wrong with the gambling if you have the edge

They 're seriously running out of time (if any of the above is really true, that is)...

No, actually I'm trying to find the opposite. Only without success.
Wouldn't it just be great if bitcoin will just expand and expand, and the coins will just get more expensive and expensive, with me getting richer and richer, and all while doing absolutely no work? It would be awesome! Like winning the lottery!
Sadly in my experience, the world doesn't work like that.

I agree with your every word. That's exactly why I'm here! I really believe in the future of transparent monetary systems that are based on open source development and supported by the internet. Bitcoin is just too flawed and simplistic to fill the shoes of that idea. There has to be something a lot more complex to be considered as an serious currency that can offer price stability.
Some say that bitcoin can develop into something more complex, but I just can't see that. There are too many flaws in the very core that won't be changed. A total remake is a more probable option to me.

People are off their heads gambling on that toxic gox shit! If there was really a silver lining don't you think everyone in the know and there familys would be buying and the price would be 5x higher now??

In bitcoin time, a year is a long time... especially when it comes to the result(s) of public exposure to bitcoin.... I started in bitcoin in November 2013... It sure would have been nice to have gotten involved earlier, such as summer of 2013... but anyhow.. better late than never, and even though I am somewhat late, it still seems like the early days of bitcoin, in terms of potential.

Personally, I am NOT too worried about the MT. Gox situation in the whole scheme of things - however, it is leaving some uncertainty for some time b/c we are NOT getting very clear communication about the extent of the damage and/or the extent to which any investors will be made whole.     Certainly with the passage of time, more and more regular people are finding out about bitcoin.. and there becomes more and more potential for bitcoin to begin to fill some various voids and to take on the value of various asset classes in the forum of currency, commodity, money transmitter, and network - amongst other potentialities.

My humble attempt at TA.

Daily 5, 15, 30 EMAs clustering together in the not-too-distant future. 200 EMA riding the bottom. Perhaps a Gox-related event will be the catalyst.

Reminds me of when Rick Moranis' character is talking to the horse in Ghostbusters:

"Wait for the sign, then all prisoners shall be released!"

I wouldn't stop there.. maybe the world realized that bitcoin is divine and the code was sent down directly by god. Now there will be a 120 year long age of peace and enlightenment, while the entire world is mining for the same amount of coins, that a small group of people mined in 5 years.

how do you add so many emas on wisdom

I think by solid money he means whatever poisonous crap the central banks foist upon us at interest in order to rob us of our substance.
Please correct me if I am wrong, Jorge.

Meaningless analysis. It depends entirely on which time scale you are using.

We had a reversal at the 400 bottom and yesterday we saw confirmation. It was a massive confirmation so the consolidation period should take a while. Fortunately, I made enough money yesterday to survive for another month before needing to cash out any more profits, so I can let most of them ride. There is resistance at $700 and support at $662 and $642 in this range.

I have stated my position several times, but for those who did not see it:

* Cryptocoins are a great invention...

ok now im just wetting my pants.

->http://huvrtech.com/

buy buy buy


edit: OFF TOPIC BUT SERIOUSLY... Wowowowowowow

fake. Totally obvious fake.

Not agressive, just informative. Like a warning at the zoo, "do not  feed the bear, especially with your hand."

Don't trust your feelings, they can be easily manipulated.

Loved it!!! Excellent product, Experdited mailing, October 30, 2013
Amazon Verified Purchase(What's this?)
This review is from: Mirrycle MTB Bar End Mountain Bicycle Mirror (Sports)
1. The mirror itself is top notch. No distorsion (i.e., clear though convexed) unlike my previous Schwinn's at K-mart
2. Like it says, for the mountain bike, the mounting using the wedged end to the handle keeps it very tight, unlike
the collar-on-outside of handle mounting of the Schwinns and the like.
3. Even the articulated joints are tight and doesn't need any constant adjustments like my former. the threading
were made extra tight for this (the tooling to do the threading is purposefully made smaller).
4. i use it for the pavement (not dirt trails) and it holds the position after 30 miles. of course, if u bump the mirror,
it needs a little adjustment but that is expected.
5. Improvement: make the mirror about 1 inch diameter greater
6. just go buy it!!!

"the world's a stage." - some famous lunatic

http://bigstory.ap.org/article/ap-exclusive-man-denies-hes-bitcoin-founder

Several times during the interview with AP, Nakamoto mistakenly referred to the currency as "Bitcom." When shown the original bitcoin proposal that Newsweek linked to in its story, Nakamoto said he didn't write it, and said the email address in the document wasn't his.

major moves on the block chain.

Oh good! Gox is pumping coins into it's shit code! What could go wrong?

is there a link for GOX paying out?
or just speculation ?

Yeah plus alot of the people who would get gox btc back would probably wanna get the fuck outta dodge

It would be so awesome if we would collect like 1000 BTC for Dorian, the old guy would be very happy and we would get lot of press for it.

"Bitcoin community collects million dollars for Satoshi Nakamoto" 

I decided I would take one for the team and sell some BTC, this usually triggers an upswing immediately afterward. You're welcome! 

Here's a question: let's say you could, for the rest of your life, commit 30% of your income and savings to charitable organizations of your choice, with a certain amount required to go to basic needs charities, in exchange for never paying taxes on anything ever again. Would you say yes? If that's too much, what's the maximum you'd go up to?

yea, that's why he is buying bitcoin. to spite you.

pitch that one to your shrink. might be productive.

Yes. So anything above $600 in April is a breakout?

False start?

We may still cite John Steward Mill and others even though the ideas have been around a while, and maybe there was NO reference to John Steward Mill in the original post.   

I do believe that some things that were said in the 1800s may NOT apply very well in the modern world due to population growth and technological applications that may NOT fit very well into some of the current paradigms.  I was quite a fan of JS Mill during some parts of my life, but in recent times, I have been giving more weight to concerns and needs of community b/c I am of the opinion that some of the JS Mill thinking may NOT apply very well to some social responsibility concepts... there needs to be some balance.. ... yet I am NOT in any position to assert exactly where that balance line should be drawn.. that would be a product of the community, ultimately.. and surely I would think that any society would like to have balances that allow for personal liberty within a community framework, if possible.

Is now one of those moments i will be kicking myself later if i dont buy?

Agreed.... In the end, these kind of endeavors are likely to bring more attention and credibility to bitcoin... even though they may seem to mimic or compete. 

Bitcoin will likely prevail - yet, we may want to see how these various competitive cryptos play out... and these additional cryptos will likely create hype and even pump and dump opportunities... for day traders.

I could make ChartBuddy repost "Favourite charts from the booms and busts of 2013" if you'd like

meanwhile.. in Dogecoinland..

Perhaps he's testing whether anyone is left who does not ignore him? 

All that nervous money is going to just pour into Gox ... owait.

Whatever happened at MtGOX, it is certain that some 500,000 BTC now belong to a thief or scammer.  Added to other scams and thefts, known and unknown, it may be that more than 1 million BTC now belong to bitcoin criminals.  If those people go unpunished and get to keep their bitcoins, such crimes will not stop with MtGOX.

So, if bitcoin succeeds like his most ardent fans believe, perhaps 10% of all the money supply in the world will belong to criminals.  You want me to root for that? 

There are actually some really good beers over here now. I think finally quality of the beer finally became more important than drinking American swill-water.

What are your thoughts? We heading down?

The faster confirmation times is pretty much exactly negated by the fact that you need more confirmations with LTC to be reasonably secure against forks.

"More resistant to ASIC" is just silly seeing that we already have LTC mining ASICs. The only reason we didn't have them earlier was because LTC wasn't valuable enough. So, yeah, a low valuation is resistant to ASICs.

400 ATM's in Dubai within the next two weeks!

http://www.reddit.com/r/Bitcoin/comments/20q1hp/dubai_about_to_roll_out_a_massive_amount_of/

No, I'm a libertarian whereas Chartbuddy believes in an over-arching techno-tyranny and the extermination of all humans (His father was a T-1000 and his mother a Saberhagen Berserker). It can make discussions tense sometimes.

Oh, we are back to discussing my person... looks like someone really needs that lesson.

It's that moment where you're terrified you're going to lose it all.

aka "The time to buy more"

So considering all that’s going on, when do you think is a good time to put in a large purchase at coin base?

When Mt Gox was dying, the market slid for months. When they stopped accepting deposits (for the last time), the market crashed to $400 and immediately rebounded to $710.
The slide from $710 to $436 was because the eventual banning of BTC exchanges was being priced in. There was some confirmation of this with two small exchanges that took us from $486 back down to $440.

I'll play the ignorant n00b card again... could you please explain what trading on a margin means?

In my defense, it does say "Newbie" on the left

I just posted a news article in the press section.  We are going to be able to get Bitcoin ATM cards that work anywhere Discover card is taken!  This is really exiting news I believe, and of course, it could be Bullish.  Granted, some people will cash out their coins perhaps, but it is progress nonetheless! 

http://gigaom.com/2014/04/07/new-bitcoin-debit-card-claims-to-work-with-90-percent-of-us-atms/

yep!  I'm waiting for the next response before losing my rag with them.

Low volume at $445 is bad news. We're going lower. A month ago I'd be selling my internal organs to get BTC this cheap and nobody's buying.

The final shoulder in the pattern you think you are seeing needs to go up to form a reverse head n shoulders.  And as the 1, 2, 4 hour MACD are all going down.  how will you get this reversal of fortunes?  

What exactly are u saying?

Are u saying we should put on our space suits?

April 4th.  looked the same and look what happened next.   That trend line needed to break through has only been breached once since December.  What makes you so sure, it will happen now?

Give up on waiting for volume.  There just arent any coins left, not at these prices.  The tree has been shaken bare.

Jorge is so far over the shark, that the Lewis trilemma applies.

Have we already seen the full extent of the effect of the Willy Bot news? If it gets more substantiated in some way, would we face more negative sentiment? How did the story affect holders who may have bought based on that perceived buying pressure in the last bubble?

600.08... Sub-600 again? We'll see...

I'm not ruling that out, but it doesn't necessarily look like that to me:

Where do you see that support line drawn in that graph, I mean $USD-wise? The resolution and scale make it difficult to figure it out.

I expect that this is exactly what is happening.
Manipulate the price downward on the exchanges to keep downward pressure on the off exchange price in order to accumulate enough bitcoin en mass for the new opened fund.

yes people sell now

@ShroomsKit
If you by any chance still have 0.000001 BTC somewhere, SELL NOW

at what point will hell break loose on bitfinex?

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 invest what you can... and you did NOT miss the boat, so long as you know about BTC (which you do) and you are doing something about it (which it sounds as if you are).  There are a lot more people out there who either have NOT heard about BTC or have NOT done anything about it or taken any action towards accumulating BTC.

Anything to support that? Why do you reckon we'll see good old $600+ times again over the weekend? All the latest weekends only brought us a slow but steady downtrend or at best stagnation, it seems!

Really do you have some graphs to illustrate your findings? Why is Bitcoins default direction down? Do you think this is the case because we're in a downtrend or because new coins are being generated every 10 minutes? The adoption rate works against that, though!

You mean a 3y chart??? But I see what you're talking about. Yeah, it definitely seems as if Bitcoin needs more buying pressure to confirm an continuing uptrend. Do you believe the 'weight' of the bitcoin market is getting heavier with an increased price or also an increasing number of Bitcoins in circulation (provoking a lower price)

No thanks.

And please quit with the weak hands myth.

I don't get it. Last winter there were tons of people on here saying that if prices fell to $100 or $200 or whatever they would take loans out on their home equity, cash out their 401k, etc, to buy as many as possible. Don't we still want this?

Actually, why don't you wait to buy at 550 when it hits 560?

Or wait for 540 when it hits 550?

Or wait for 530 when it hits 540?

Or?  Or?  Or?.... or never buy any ever?

This is nice to see. Finally continuing on to $300.

I know nothing! I only say what I think is going to happen. I've been saying $300 for a long time now.

Why??

How many more years do you want Bitcoin to go down exactly?
You've had 5 years for cheap coins. Wasn't that enough?
Do you realize you will make money if people stop selling all the time and the price goes up?

I just sold whatever i had left. It's clear, Bitcoin is dead.
It failed. This year was make or brake. It broke. People lost interest. Everyone is getting out.

You have to be delusional to think the price will go up suddenly again.
Face it, this is the 5th or 6th year already. This is the time where it was supposed to happen and it simply failed.

People aren't gonna be suddenly interested again in 2 months again.
It's over. There is one way this will go and it isn't up.

Well, what are the thoughts on breaking back I to the $400s?

People say this, but I don't think they really understand it. Bitcoin doesn't need to fundamentally change. It is what it is. And what it's been, for the past 5 years, was an asset that could be held and would run up in value every year. Finally, in 2014, it can be used with some mainstream merchants, and people have taken advantage of that. But the distinction we need to make here is... bitcoin holders themselves are the ones taking advantage. Very few people are buying bitcoin to turn around and spend them. That is not the drawing point... it is just an added amenity for those who already hold and want to use them.

So without the yearly price increases, bitcoin suddenly loses its luster. Today, Amazon entered the mobile payments realm. No bitcoin has not fundamentally changed, but the world around it has. And it seems like the world is saying, we're not interested in bitcoin anymore.

There have been greater ideas than bitcoin that ultimately failed. Just saying.

TERA is a coward and a manic/depressant.

And breaking news-  Ebay subsidiary discussing accepting Bitcoin. 

Could it be that someone knew this was going to be announced and was playing with the price a bit to get some cheap coins?  I often wonder about these things.

http://newsbtc.com/2014/08/14/ebay-subsidiary-braintree-said-discussing-accepting-bitcoin-payments/

You want serious thoughts on price in the Wall Observer thread? You must a newb.. oh wait.


Alright. Personally, I don't see much of a chance for a more serious bounce back up yet. There's only very low volume on the counter moves up, today's entire daily candle outside lower BB, and we're only in day 5 of this severe trend (and they tend to last longer once they gather speed like the current one). I'll grant we are drastically overbought, so there is certainly potential for some bounce back, but I suspect we have another day or two of decline ahead of us before that happens.

go hunting levered longs and then crash the market?  O_o

could it be? they're that crazy?

how can anyone sleep in times like these 

Walls suggest sell-off back in motion... if you are playing a day trader game (don't do this by the way)... then take notice.

People who bought at the beginning of the year are now tired and fearful of this market.  People who bought since mid- May are now tired and fearful of this market.  So who's left to buy now?

Shorting LTC @4,3 was a genius idea

As a generalisation I would agree with what you say..... in general.... but not in this case... those borrowed funds are not being made available just to help people out... out of the kindness of brokers etc hearts... they know the game... it is their game... and their game is rigged for them to win...   Long term margin trading is hazardous to fish,  and I think detrimental to crypto.

Also I said that it is "in general" evil - not always and in of its self...  but the outcome is almost always the same in the long run... a few do well.. the rest...  get made into sausage

Institutional pump.

I am only half bull, half bear, and half indifferent, but nevertheless admit my admiration for your awesomeness.

who cares? up! ccmf!

Just a short squeeze, that garbage is still dying 

if you trade you BTC for BC you're gonna have a really good time because BC is going up!  and BTC is going down

ridiculous

Good monkey.  Have a banana.

a bullish reversal pattern? is it the inverse head and shoulders that everyone and their mother is posting in the TV chat? dunno, it's certainly possible. whales love to paint the TA....

This market can really make a man sick...

I honestly was expecting some good upside right about now

The selling pressure is getting bigger by the day. If i was trading i'd prepare for another crash.

I have been thinking that it has to be the clean, freshly made fiat dollars, but then again I don't know... In my country, professors are paid by the government and that's pretty much all you need to know.

I am no fan of the military-industrial complex either. I view it as all part of the same package.

That is way too complicated... MORE likely is that he is just paid by some government of financial institution to talk shit about BTC... as part of a team effort to lower BTC prices and possibly even attempt to undermine confidence in BTC or to distract us from having more meaningful communications about BTC or any other topic that we may feel important

EDIT: Em, if you haven't already, you should read this post by AnonyMint --
https://bitcointalk.org/index.php?topic=400235.msg8649126#msg8649126 -- I think this provides some more substantial reasoning as to why getting fund managers involved in the BTC eco-system will eventually lead to disaster.

what a strange day, lol 

+2
This place has really gone to seed since the days of Frozenlock and Walsoraj!

Nice to communicate with you jayjuangee! I always enjoy your rigorous postings.

So how does it feel after all that cheering for cheap coins that this time the price doesn't go back up?
Nobody is dying to get back in at lower levels. Nobody cares about cheap coins. Nobody wants to get burned after seeing Bitcoin crash month after month.
This is what you people have been cheering for. Happy now? Enjoying your cheap coins?

you guys think  this the start to a new bubble?

How much does he have?

At sub $400 it was so easy to buy coins... now I'm waiting to buy the next dip but the price continues to go up...

It is a problem, but as problems go it is one that I am very happy to have  

hopefully the weekly SAR  reverses 

This is not a western dump. This is China. 70% of trading is in Yuan. They don't care about no Dell or paypal fanfare. And that's why the market never really reacted to that news

I cant believe that you are a bitcoin cultist with this kind of education... it is beyond my understanding.

I ended up making my own customized live ubuntu iso to run on my laptop connected to a usb printer in order to print an offline wallet.  One issue I faced was that armory wouldn't run with the default iso file, so you are stuck connecting to the internet in order to install the necessary packages .  Most of the various tutorials I read didn't even mention this issue, like they never tried to actually do it themselves.
So, IMO the paper wallet solution kind of sucks at least as I've seen it implemented.  If you don't compromise on something it's a real pain.
I like the idea of greenaddress.it for an online storage solution.  Didn't look into coinbase vault, but that's another option maybe. 

whale? don't go blaming whales everytime

bitcoin is going down because it's overvalued atm. plenty of room downwards till the bottom gets hit

Better than listening to your FUD, bring on the aliens.

They've pushed the price down for months by setting up scary walls to buy in large scale.

Honestly this is the question we don't know for sure the answer, but we know that they are not selling off (going out of BTC) - it would be much more simple and much more profitable to sell it on OTC - even 50k+ coins. But much more believable is, that they want to accumulate cheap (maybe even through cheap OTC bulk buys) and rinse & repeat the bubble. Being end goal BTC at 0 is low probability, cause they were probably early in the game and understand the things well, this would be possible only in the case if someone is doing this who doesn't want BTC to succeed (banks, gvt...). Or if these coins are stolen and they really have xxx.000 BTC (but probably exchanges would get them). But all this killing BTC in imo less than 10% chance.

And remember - China is not the cause of all this rise and fall, its the tool.

They don't dump anymore, they just dump in mostly their own walls and when price is high (paypal push). They control the sentiment and orderbooks and price action so others sell for them. Do you think they care if price is $100 for two days so they can get XX.000 BTC and they push it to 500 in the next two days. Its all about their plan. To bad we don't know what it is.

I'm not saying 100 is the plan, but that if they planned this, it is simple to do. When price will be at 1000s few months later, x00 won't matter anymore, just the next moon and fresh money to be milked again.

I'm actually considering if bitcoin is slowly dying out

Hashrate is declining sharply like never seen before

https://blockchain.info/sv/charts/hash-rate?showDataPoints=false&show_header=true&daysAverageString=1&timespan=1year&scale=0&address=

The manipulator has some problems with the logistics to dump further coins.

Awesome, precisely what I was getting at - I'm far from another 'Cut your loose' fanatic like 'falllling' just hoping for a $0-Crash - I just want people to stop deluding themselves in a blind religious haze while going to BitCoin Church with BitChick, and like you said Adam - Actually contribute towards putting into place, or at least understand, the groundwork that's obviously required before another gravity-defying bubble.

 Regarding your argument BitChick, the thing is with every passing previous bubble and subsequent cooling phase, it's ironically also gotten exponentially more difficult for the cynics to be proven wrong yet again by a follow-through epic bull-run.

 One thing I forgot to mention though is, the legacy Gox's bots left us with is one of 'Fake it 'till you make it' such that with last year's exploding limelight came hundreds of millions $$ poured into all facets of crypto-infrastructure & the underlying economies so thanks to that, it's very plausible to think the true fair market price of 1 BTC may be more than double 2013's mid-year average in the low $100's.

 So in the coming months $245-270 sounds like a good bottom, from $360-410. The infamous +1000% 12-18month figure, from a ~$250 price point, would lead right up to $2500 - Exactly where my 'off-chance moderate bubble' estimate was at ;p

its pretty clear the last ATH was mostly down to Mark and his bots trying to bail himself out of sinking ship.

The question is when will the shakeout end