Bitcoin Forum

Stable for 6hours... will it finally go up or down?



I hope for up. Omg, as i post it goes to 878 (on bitstamp, from steady ~865).


edit: 10sec of seeing it going up to 885 already makes me believe in the up.

[i am a noob]

Gonna go to bed now (and stare at prize from my mobile)

most likely up with all the variables leaning towards positive side.

Up then down. Or maybe I have that backwards.

I was right up to 990 something then back to 960 something.

Guess I'm amazing.

I predict it will be up while any bank make a statement to ban it or sth like that, and then will be down

Banks don't use btc as far as I know, so who cares what they say about it.

Btc won't go up much until people gain confidence again and push it above $1000. If it manages to stay at that price for a few days it will go up for sure. Until then it can go either way  :(

Any bad news may crash the market, since it's post crash days we are in. And there are weak hand, even so fiat is not coming in much because people are afraid right now due to the volatility.

Christmas are coming. People needs money for gifts, so they are selling. No strong trend towards up till January...

Good point. People may also be focusing on other things, which will result in lower volume. I expect to see Bitcoin slide down to the $700's by the time the holidays are over.

erm....that isn't up nor down.

That is just the same.

and by the way, its going to go down.....properly down.

Betting on going sideways for the next week, with a tendency towards slightly lower. (800 - 850 USD range)

y no sideways?

If one is stupid enough to sell for cash, at least sell for something that is very important (food, shelter, health). And I understand Christmas, good family time etc, but at least don't screw it with cheap Chinese products or expensive American iphones.

Seems like some selling going on in the past hour, maybe xmas time cashing out ? It might go down bit this weekend

Just wait until the weekend proper hits.

If their are entities out their that want to smack this sucker down, the combination of ultra low volume, bearish chart formations, and the weekend block on new funds hitting the exchanges is the perfect time to do it.

However, because this is so obvious and would be a near carbon copy of last weekend, there is probably too many folks anticipating it for it to actually happen; such as myself who has liquidated 27/30 BTC, in order to lock in profit and set up buy-in tranches at much lower prices.....

.....with my highest buy in price being around $540, I might be lucky to get any coins this weekend (although once I get a better idea of which way the wind is blowing I can obviously rearrange my buy-in plans), but for me, all the signs are pointing to lower lows than we have already had in this period of BTC correction.

Don't you mean expensive Chinese iPhones, Mr. Grinch?

well bitcoin in china just had it's value reduced to purely speculation and novelty.  they're not allowed to spend it on goods/services.  so in the medium term id say we're going down when the chinese start selling.

 ??? Link?

This is extremely depressing, if so.

I think btc will go up, but stability could encourage far, far more adoption.

What time frame are you looking at?
I don't think there are many people who aren't assuming that the price will keep going up from here on out.

Hopefully, in the long hall, it'll go up.

I don't really care about when, however.

Ridiculous FUD usually is.

Is this possibly what's meant?

http://www.reddit.com/r/Bitcoin/comments/1ssw8v/china_for_now_will_not_allow_goods_and_services/

i think he's referring to the china central bank banking and financial institutions ban on bitcoin

Come on stop the china bshit already. You're babbling about and in fact this meaningless.
1. There was no real commercial BTC use in China before this announcement.
2. Their central bank stated that it doesn't recognize BTC as currency (just like 99% of the world).

Bingo.

Didn't know about that, thx for posting.
From what they wrote here, real estate company priced appartments in CNY and also allowed BTC payments as part of a promotion. They don't state how many payments were made with BTC, only that they sold everything. It might've been exactly like with chinese telecom that allowed BTC but didn't manage to sell anything (I read somewhere that their address received less than 1,5 BTC).

I wonder why people preffer selling coins on exchange for fiat and withdraw instead of spending the coins directly buying the things they gonna buy anyway with the exchange fiat... Laziness or ignorance

What planet are you living on?

The only thing I can buy with BTC (without bending over fkn backwards) is drugs.

@zendantom, because people STILL don't see it as a currency.  The very idea you can use anything except for your state's fiat is not a natural idea to most people!

http://www.reddit.com/r/Bitcoin/comments/1ssw8v/china_for_now_will_not_allow_goods_and_services/

reposted that from reddit.

Bobby Lee (CEO of BTC China) was asked THREE times whether bitcoin could be used to purchase goods/services.  the answer is NO.  merchants can not even price their goods in btc.

several followed up asking if using a bitpay-like processor would be a possible loophole.  the answer according to a user that directly asked Bobby Lee was also NO.

http://www.reddit.com/r/Bitcoin/comments/1ssw8v/china_for_now_will_not_allow_goods_and_services/ce14xro


look when bitcoin got big, the department heads in china made an official statement banning bitcoin from banking/financial institutions.  that's already a negative.
the next day baidu/china telecom shutdown all btc payment options.  (baidu started this bubble)
the CEO of BTC China (largest btc exchange in the world) has explicitly stated btc can not be used to purchase goods/services.  Bobby Lee has absolutely nothing to gain by spreading FUD.


so what incentive does the average chinese citizen have to buy or use bitcoin?  
they can not spend it on goods/services.
they can not put it in their investment portfolio.



they CAN buy/sell btc on the exchanges.  however, now the utility of bitcoin in china has been reduced to a Tulip.  they only buy in order to sell to someone who's willing to pay more.  how much longer is that going to happen?  at  some point, the price is going to be so high that nobody's willing to pay for the novelty of owning a bitcoin.  then what's going to happen to the price?

is that not already factored into the price at Chinese exchanges?

Who cares??!! Really. Like. Who. Cares.

Chinese are looking at BTC as a commodity - an investment vehicle. Bitcoin can be used as currency in the United States. We are the leader of the free world and the supplier of the worlds leading fiat. So, if bitcoin is used in most places in the world, its value will rise and Chinese investors will make money.

How many Chinese are buying things with gold and silver? Yeah, right. None. They still invest in it.

To expect that every country would allow bitcoin right away, ESPECIALLY communist China, is nuts.

But guess what? Even communist China allows Chinese to invest in digital currency DRIVING UP THE PRICE of digital currency. That. Is. Amazing. Reality.

Buy some gift cards.

www.gyft.com