Bitcoin Forum

i believe this to be the case.  

in fact, the move down from $7.20 to $4 magically represents a 61.8% Fibonacci retrace, a good place to bottom.

so would you be wise to be buying in the $4's or selling/shorting in the $4's?

Agree. But look what 5.2 is: http://www.sierrachart.com/userimages/upload_2/1331485270182.png

You buying up? ;D

thats only reserved for pillow talk. ;)

The new $7.20?

i should also point out that $4 has generally agreed to be a minimum for mining profitability. 

also that the advent of Bitcoinica shorting in September contributed to an undershoot down to $2.  that has now evened out.

Nah, forget it.

The S3052 newsletter most likely prevented that for now. Unless THE SUPER RALLYYYYYYYYY BITCOIN IS MAINSTREAM NOW WE ARE GOING TO OVER NINE THOUSAND kicks off, I still am convinced we will challenge 4.5 again, but it might happen much later, after a ridiculously small corrective rally in BTC terms (1 or 2 USD up perhaps). I hoped we would do a final capitulation with a serious reversal like from 0.55 last year so I can hold for weeks and months to come, but no.

This is now postponed. Next up: Hot potato.

If this goes on much longer this'll turn into the longest period of relatively flat prices in bitcoin trading history so far.

Bitcoin is finally getting stable.

 ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D

And the (lack of) Bitcoinica leverage was responsible for 7.22 and 4.64. So 50% of that move would be 4.6. What now? ;D

We need this to be MUCH more common here, so,

Full disclosure: I am long BTC.

Stable would be good for bitcoin merchants, but realistically, this is not going to happen at current levels. More likely there will be wild swings in the next couple of years before there is some stabilization.

I don't see bitcoin reaching out of the geek ghetto.  The 'Good Wife' episode generated great hopes - but I don't see any follow up to that.

That’s the joke. Bitcoin will never be nearly stable until its price discovery reveals either 0 or 4-5 digit.

>> Blitzboom. 100% agree

face it; Bitcoin will never be stable as long as the Federal Reserve keeps printing USD's.

and the more it prints, the more Bitcoin goes...

Agree Cypher.
And soon we will see  a strong inverse correlation of BTC and stocks

Now we can agree in the direction of stocks.  i'm short.  we reached my objective target of clearing the May highs and now is the time to wrong foot everyone.

Congrats!!!!

Following up on that thought: Shorting can give you 100% profit + if you borrow it, potentially unlimited loss, going long potentially unlimited profits with limited loss. ;D

i sorta agree...


but i see it like this

2$ was when bitcoin wanted to see how low it would go

5$ is its actual value

4$ is meaningless its not the "bottom" its just a whole dollar less then its actual value

Yeah right. ::)

$5 is actually pretty nice for an extremely impoverished person RIGHT AT THE MOMENT... but an extremely intelligent impoverished person knows better, and dreams much bigger.

BTW I apologize if this is off-topic at all, but can ANYONE point me to a beginner's guide or something on shorting stocks?  I have very little capital to work with, but I would LOVE to mire in the impending collapse.  PM's with suggestions are VERY welcome -- Really good ones will be rewarded.

Thanks in advance!

http://www.toniturner.com/shop/beginners-guide-short-term-trading-second-edition-p-20-c-26.html

the end of the world is over due!

SHORT ALL THE MARKETS

 :D


sure, but question is... are the market makers impoverished, or affluent?

in this market everyone is affluent and intelligent... think about it

Just want to point out that one of my biggest pet peeves is when someone tells me to "think about it"... No offense taken against you personally, though.
Dude -- I completely, 100% assure you -- I am anything BUT affluent.
Perhaps I am "well-off" compared to people in Sudan or Nigeria or North Korea or wherever the fuck, but that sort of comparison does not represent true affluence.  Look:  What human has EVER admitted any level of anything to be "good enough, let's stop"?  ... wait for it...
Neocons, traditionalists, and ignorant idiots in general -- THAT's who.  :-P

Sorry, I don't get this actual price stuff.  When I bought $4.20 not too long ago was that not the actual price?  Do I owe somebody money?

when it comes to post on this forum only Mathew N. Right can offend me.

I hear you, and I'm in the same boat. young with a good career ahead of me, but i feel dirt poor because of the current shitty world economy.  

affluent is a big word, saying someone is affluent can be taken any number of ways, but when it comes to bitcoins if your not affluent your doing it wrong.

LOL, yeah I forgot to travel back in time when any nVidia chipset would get me a block of 50 every hour or so...  ::)
It cost me a VERY DANGEROUSLY RISKY portion of my personal "wealth" to obtain the 1.8GH/s ~ 1BTC/day I currently manage.
So... if what you meant by "you're doing it wrong" is that you expect the value of BTC to increase 100-1000 fold in the next few years, then I can say I agree with you.  :-)

Obviously the market equilibrium for Bitcoins is $5 because

… cool number!

I expect it to stabilize around there in the following months. ;D ;D ;D ;D

agreed.

I need to get myself a mining rig, but I'm thinking next winter, that way it helps to heat my place    :D

I've been waiting for someone to say this, because price usually starts moving soon after.  :D

I can build you a ~1.6GH/s one for very affordable  ;D

True that.  Sunday night everyone!  LET'S ALL BE WEEKEND DIPS!

 :D

movin on up!

How many cents this time? ;D

I am affluent in several languages..

Yes -- and I have an Official Wallet Inspector badge here.  So pay up, to me, the Wallet Inspector.

this is the best i could come up with (http://www.busybeelifestyle.com/sock-sorting-made-easy/)

NOT FUNNY  :D