Bitcoin Forum

http://www.bloomberg.com/research/markets/news/article.asp?docKey=600-201504290300HUGIN___EUPRX____HUG1916185-1

The world just got a much easier way to invest in bitcoin. The 2nd half of may is going to be very very interesting.

p.s. This is probably what caused that spike on btc-e a few days ago.

also coinbase just launched in Europe, although it sounds like its still hard to go from coinbase--> european bank.  Still good news to hear!

good.

not a single fuck is given.

normal market volatility.  we've seen it many times before.

deflating bubble

You are missing the fact that BTC never crashed 70% for more than a year tho.
So no, you haven't seen this many times before.

2011 bear market lasted like 6 months.


pumping to $1200 in a few months and then crashing 70% for more than a year is not exactly "normal market volatility". It's a pump&dump.

we also never seen a fake pump like the one made by willy bot, so it's still make sense, and you should not compare too much old charts, the future will be different

I sure hope you know when to fold before you get wiped out. Don't let your fetish for bears be your denial of changing times when it comes.

why do people keep saying that to me, when I am making like 1000 % in profits from it?

why dont you, for a change, do your own business? 

Yep. Foundations for next run are getting build. 8)

I doubt btc-e spike was because of that...

it seems that the most btc providers are expanding their business operations.

but I always assumed they were already there. Guess not, so yeah this should be interesting since they gain more users in that region.

prepare to have them taken away.

you will hack my bank account?

no, prepare for the short squeeze of the century.

Quoted for future reference.

oooo.

now I am even more worried.

I think the term bloodbath won't even do it justice when all is said and done. There are bullwhales that are out to slaughter these heavy shorters.

yawn.

not if "bullwhales" are the ones shorting and hedging because bagholding.

you dont say lol.

Its always been a race of getting more coins.. people should know that by now. Despite the price, whatever thats not able to keep producing becomes rare like a comodity like gold which it should be look as.

The short-squeeze, when it happens, will be immense.

yes, the short squeeze will be bigger than moon.

we will go straight to 300.

Because you generally act like a dick, call people names and lash out at anyone who attempts to have a conversation with you. Try being less of a miserable person for a change.

you really should go back and study the previous ramps in Bitcoin's history.  they've all been around 10x and we've done it around 5x.  all of them were followed by immense crashes out to 90% but always bottomed out higher than before.  

how would you feel if we did it again?  or more importantly, how would your pocket book feel?

you are telling me that I should change my winning and very profitable year and a half old strategy because bitcoin's history?

noted.  

@bassclef

I am sorry if I hurt your feelings.

It's an ETN. It's not secured by bitcoins. It does not create more demand for bitcoins.

I almost survived the longest bear market in Bitcoin history. T-shirt?

wrong.

"XTB Provider AB will hedge all sales of the bitcoin traded note by buying an equal value in the bitcoin market."
http://www.coindesk.com/swedens-nasdaq-exchange-approves-bitcoin-based-etn/

yeap, they will sell you their own mined coins for a premium.

Sounds like a perfect storm.  Xbt provider, coin etf, and gbtc.  Things are going to get crazy.

yes 300 /mBTC

some TA to keep you occupied, while bulls get ready ;)
http://www.newsbtc.com/2015/04/29/bitcoin-technical-analysis-for-2942015-collapse-expected/

No offense meant, but that's some terrible analysis.

Besides good news is known to be bad for the bitcoin price.

Fanfars and Champagne!

Because by your own admission you have been trading with leverage for only a few months and it is obvious to everyone you are over invested.

If you read (somewhat between the lines of) his comment, he has already taken profit off the table.  I don't think anybody needs to worry about Tarmi going bankrupt.

Is an ETF good for bitcoin? I worry no it is not. Long term will be harmful to bitcoin in fact. In the short term it may instigate a bull run as the ETF accumulates bitcoin for its reserve. (It may even be a staggeringly big one) However longer term ETFs could  be used to manipulate and suppress price and counter the threat to govt fiat and dampen enthusiasm.

Its not hard to see the parallel. Just as in gold and silver markets, investors are herded into paper shares ie GLD and SLV instead of going and buying physical bullion, the same will become true with bitcoin. But if the ETF is not honest about increasing its own reserves why people buy the ETF then the reality is that that investment money did not reduce bitcoin supply and therefore does not put pressure on price to rise.

Unless theres something about blockchain technology which will force the ETF to be completely transparent about its holdings ?

Holding the actual product, bitcoin, could become really valuable.
Be sure to keep your coins safe!

Auditing Bitcoin is fairly easy. Auditing gold is very, very hard. A Bitcoin ETF can simply put a bit of data on their website to all but prove their reserves to everyone. Besides relying on a third-party audit, which can be gamed if the government is involved, all a gold ETF can do to persuade people is to put things like gold bar serial numbers up, which of course can be gamed in many ways easily. It's also much easier and much cheaper to take delivery in BTC than gold. I see no reason why people would allow fractional reserve, especially once BTC is easier to hold, and also given all the people who want to hold it in other countries, don't want US juridictional risk, etc.

Even assuming the worst case scenario where no one ends up caring and the ETFs operate on 10x reserve, it can at most reduce "the moon" by tenfold. $100,000 per coin instead of a $1 million. Realistically it's quite a bit less, since it's not like everyone in the world is going to buy the ETF instead of actual coins. But an ETF accounting for a huge amount of the base BTC supply itself implies a great jump in adoption, from which we could already expect a 10x in the price easily.

So I think worst case, with the assistance of corrupt auditors and government complicity, they might be able to hold back a year or two of gains. After that, fractional reserve has its limits, especially as Bitcoin gains more market uses so that people actually need to withdraw it.

Hi Zanglebert Thanks for that reply, thats quite reassuring. I thought about the transparency aspect a bit more after writing original version of my comment. In a way I'm not sure why people would buy an etf for bitcoin, I guess some people are just conditioned to do all their investing via one vehicle ie whatever sharebroker they like to use or something. To me I can't help thinking that surely if you are competent enough to buy share in an ETF is not really harder to buy some actual bitcoin.

ps nice to see you on the forums, feels like ages since we chewed the fat.

New ones are replacing the old, failed ones. Overall activity doesn't seem to be up.

You are continuously posting bearish predictions in a rather arrogant way on a bitcoin forum. why would you do that if you didn't want any reaction?

You'll have to forgive him. He intuitively knows his days of shorting are numbered. Hence the bitchiness ;D

yup, that post was supposed to reek of sarcasm, need to up my game

Bitstamp's not expanding, its doing less business since the hack.

Arrival of ZB is usually a bullish signal.

Is it the same as the COIN? The entrance for the Wall-Street money we've been waiting for almost 2 years?
Then where is the money and the rally? What is missing in the picture?
It's not real ETF? Or the Nasdaq Stockholm is not real stock exchange?

What's the catch?

EDIT: Ok, it's still 19 days to go, the gate for the Wall Street billions is not open yet. But where are the front-runners?

I dont mind.

but if the best you can do is "you are going bankrupt soon"...well, then I know I am on the right path.

It starts trading on the 18th of May. Is it going to be huge? Perhaps worthy of having its own countdown?

"Alexander Marsh, Chief Executive Officer of XBT Provider, says: "We are proud to offer the world's first "Bitcoin tracker" to be traded on a regulated exchange. By enabling this easy and secure way to invest in Bitcoin we hope to have eliminated the boundaries that earlier prevented individuals and companies from being able to actively invest in what we believe to be the future of money."

Bitcoin Tracker One is designed to provide investors with convenient access to the returns of the underlying asset, U.S. dollar (USD) per bitcoin, less investor fees. Bitcoin Tracker One is authorized by Sweden's financial supervisory authority, Finansinspektionen, and will be admitted to trading on Nasdaq Stockholm. The first day of trading is expected to be May 18th, 2015. "


Glad to see such good news, just a few moments after logging in today.  :)

Lets say a mere $10 million gets invested in the first week.  Which is peanuts in this industry.  40 thousand coins would have to be bought on the open market to cover the shares.  Seems almost too good to be true as this would increase the price 10 fold.

Oh Lord... this ship will sink even faster than expected now. With this exchange all the hacked and scammed coins can be dumped much faster. Prepare for free fall..

The desperation is strong with this one.

yada yada. People have lost interest in magic money a long time ago. Just try to talk to friends and family about it and you'll get laughed at.
As we calculated there are roughly 1.2 million btc waiting to be dumped by hackers and scam artists. This pressure is beyond anything even a big group of bitcoin fanatics can negate.

kwukduck, i really appreaciate your analysis. What is your opinion about the future price
development in the next 2 weeks= Will we ss sub 100 this fast?

^^ lmao at these two. A legendary status troll and his sidekick.  ::)

Threads like these make me happy. I realize that there are still way too many bulls and market has not capitulated yet. We still have some time to accumulate more coins! yay!

Sounds like 3 weeks at most for cheap coins.

Gives credence to the theory of an alternate universe.

Is there anyone left to capitulate? If you're still a bull after 17 months of relentless downs then there's not much left to phase anyone. Maybe they'd capitulate if ASICs busted down their doors and shoved a cubic metre of chips up their anus.

What about those who are already spent more then a million in VC money?

What about them? You think they`ll just say fuck it, lets just let it crash we can cover the loss anyways.

It definitely is a good thing, the more competition, the better. But in Europe things didn't actually look that bleak. Europe has Bitstamp, Kraken, Bitfinex, Bitcoin.de, and maybe even some others I'm not aware of. The US still seem to be worse off, actually. Now we only need to break out of the downtrend :)

GS joining the party... http://www.coindesk.com/circle-raises-50-million-with-goldman-sachs-support/

That's fuel for the rocket.

"XBT Provider AB (publ) är en del av KnCGroup, som är garant för certifikatet."

knc is dumping their coins  ;D

I agree. That's quite some amount of money. They wouldn't put that kind of money into a company if it was obvious to them (as experts in the field of investing) that the company or ecosystem of Bitcoin is going to fail.

Well, they need some way to sell the coins they're mining. There are electricity bills and rental bills for their hangars they're storing their mining equipment in (are they still doing this!?). Buying directly at the source makes sense, this will also decrease selling pressure or at least take the edge off the weekend dumps.

6 hours ago the price soared by 10$,  that's 3% rise! There's a realistic chance that we are going to see such surges every day now. It has happened before, we all know how it goes: slowly but surely the price goes higher every day until it turns into a parabolic rise.

I wouldn't bet on 'every day', but the chance of the price going back up now is quite high. It remains to be seen whether this is due to the ETF, something happening on BTC-e and brokers(!?), or the $50m investment from NYSE, or the mere fact that we're leaving the bear market now.

Yeah I might have exaggerated there a bit but the fact is that we have a very interesting situation here.
http://s28.postimg.org/bm1e9o2d9/stamp.png

If the price doesn't go any lower soon then the weekly parabolic SAR is forced to flip (probably once and for all). Considering that 18th of May is the 3rd week from now and is also a bullish date then I think we have a realistic basis to speculate that the end of bear market is near.

Yeah, if we indeed see a flip, it might be one of the stronger indicators for an end of the bear trend. I guess the most important thing is to cross $265 and subsequently $315 on some volume and for some time. Funny how quick things might change. It's make or break time now it seems...

I'm not capitulating. I'm accumulating. Like a whale but little. Not even as big as a dolphin. An accumulating tiddler. kwuckduck and fonzie make me laugh. Are they the same person by any chance ?

I think it will be a sort of temporary situation until people figure out the benefits of having their own storage scheme. I suppose there is a danger of somehow being able to pull off a 100x fractional reserve scheme, which is scary, but it seems pretty untenable.

Good to see you posting, too. I've been mainly in cypherdoc's thread, posting every few days or so recently. I post a lot of little stuff on reddit though.

Last time I showed up someone said that, heh, but the price kept going down. However, venture capital took off like a rocket, so maybe that's a proxy for price for now. After enough of that, price should get its next turn. Money has never stopped flowing into the Bitcoin space for the past 2.5 years, but when those money flows decide to go into price and when into mining or VC is hard to predict. I'd like to see a chart showing all three and somehow show a kind of sum of all three. We might see a much smoother upward trend.

Not sure and don't really care as they both have been on ignore for quite some time. It's one thing to have a valid opinion but something totally different when you're being downright ridiculous.

Yeah, these carefully planned spurts of funding/good news are not so subtle winks that things are a changing so ya better grab what ya can.

A publicly known future event is usually considered to be priced in. It's not a buy signal.

I won't it is a good newz...but yes peoples are accepting day by day so its like a filmstat

It hasn't even begun. We still need the Winklevoss brothers coming up with Gemini. Once it starts, all those old, decrepid old money holders will get interested into BTC since they were never able to understand how to buy before, now it will be as easy as buying one of their precious Exxon or whatever stocks they like holding nowadays.

Of course, a side effect of being a pioneer in paradigm changing technology is talking to other people about it and them having a dumbfounded reaction:

https://www.youtube.com/watch?v=lskpNmUl8yQ

David Letterman = Your average "muh magic money" dumbass reaction.
Bill Gates = a true in the known pioneer.

And the internet was in development since more than a decade from that video. So it took what, 20+ years until those dumb plebs could know how to send an email and see the benefits.

Since you are already here, you are IBM being butthurt that it wasn't a quick success and jumping off the train way too early, displaying your butthurt one comment at a time.