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Title: The Thin Red Line Post by: Voodah on January 09, 2014, 05:53:39 AM It seems as though our growth was planned way back in time.
I give you the most important line in Bitcoin history. Everyone who sold above it is a winner. Watch out for this one in the future. Clearly big whales have been watching it (and it's parallels). Someone has been steering these channels since way back. (this was inspired by ronfkinswanson's version over at TV; it is now a Schiff Pitchfork and it's placed on the first 2011 bubble instead). TV Link: https://www.tradingview.com/v/LZQWPiI3/ https://i.imgur.com/DogGVna.png Title: Re: The Thin Red Line Post by: Dalmar on January 09, 2014, 05:59:46 AM Children eventually stop growing and become adults. So, why not the same for bitcoin? I am not saying it has reached its peak now, but this delusional 25k-100k per BTC future is just silly.
Title: Re: The Thin Red Line Post by: pietje on January 09, 2014, 06:42:50 AM Children eventually stop growing and become adults. So, why not the same for bitcoin? I am not saying it has reached its peak now, but this delusional 25k-100k per BTC future is just silly. when bitcoin was $10 probably everyone thought 1k was silly. 10k will become the new 1k in terms of accepted price. If all the adoption continues ofcourse. Title: Re: The Thin Red Line Post by: T.Stuart on January 09, 2014, 07:38:28 AM It's a natural reflection of virality. The situation is chaotic and uncontrolled, despite numerous conspiracy theories.
The charts only ever reflect the reality. Reality comes first. Too many charts and the analyst may begin to fear he is the creator. Nothing to do with your work in particular Voodah - it's a subconscious mindset prevalent here! Title: Re: The Thin Red Line Post by: aminorex on January 09, 2014, 07:49:01 AM If the exp(exp(t)) trend holds, everyone will buy and sell everything over that line before too long.
Title: Re: The Thin Red Line Post by: mooncake on January 10, 2014, 02:53:31 AM I was here.
One year later, I shall revisit this thread if I remember. Title: Re: The Thin Red Line Post by: oOoOo on January 10, 2014, 03:38:21 AM Everyone who sold above it is a winner. Dude! Anybody who sold above any of those lines (except maybe for the bottom two) turned into a winner... ::) Title: Re: The Thin Red Line Post by: pbody on January 10, 2014, 06:57:41 AM Children eventually stop growing and become adults. So, why not the same for bitcoin? I am not saying it has reached its peak now, but this delusional 25k-100k per BTC future is just silly. Thinking 25-100k is delusional is silly. You're aware that there are only 21m coins that will be made? It could easily hit 25k if it became another currency option, which it is quickly becoming from being used as a marketing tool. Title: Re: The Thin Red Line Post by: Eusebio on January 10, 2014, 12:20:21 PM Children eventually stop growing and become adults. So, why not the same for bitcoin? I am not saying it has reached its peak now, but this delusional 25k-100k per BTC future is just silly. when bitcoin was $10 probably everyone thought 1k was silly. 10k will become the new 1k in terms of accepted price. If all the adoption continues ofcourse. talk to the people in the streets, i mean ordinary people, and you will see that most of them still think that 1K for Bitcoin is very silly. and to buy BTC at 1k is just phenomenally silly. thats what most ordinary people think. and i agree with them:) to buy BTC for 1k this year would be ridiculous. Title: Re: The Thin Red Line Post by: tutkarz on January 10, 2014, 12:34:02 PM Children eventually stop growing and become adults. So, why not the same for bitcoin? I am not saying it has reached its peak now, but this delusional 25k-100k per BTC future is just silly. when bitcoin was $10 probably everyone thought 1k was silly. 10k will become the new 1k in terms of accepted price. If all the adoption continues ofcourse. talk to the people in the streets, i mean ordinary people, and you will see that most of them still think that 1K for Bitcoin is very silly. and to buy BTC at 1k is just phenomenally silly. thats what most ordinary people think. and i agree with them:) to buy BTC for 1k this year would be ridiculous. they still can buy bitcoin only to make purchase with it to get discount many merchants provide. And it doesn't have to be whole bitcoin. Title: Re: The Thin Red Line Post by: bitbrasil on January 10, 2014, 01:01:00 PM Children eventually stop growing and become adults. So, why not the same for bitcoin? I am not saying it has reached its peak now, but this delusional 25k-100k per BTC future is just silly. when bitcoin was $10 probably everyone thought 1k was silly. 10k will become the new 1k in terms of accepted price. If all the adoption continues ofcourse. talk to the people in the streets, i mean ordinary people, and you will see that most of them still think that 1K for Bitcoin is very silly. and to buy BTC at 1k is just phenomenally silly. thats what most ordinary people think. and i agree with them:) to buy BTC for 1k this year would be ridiculous. that's a psychological effect only. It's just a matter of what unit you use. If you say 1mBit is 0.800 USD the picture changes. If people start using mBit instead of Bitcoin when referring to units, acceptance would grow faster. Title: Re: The Thin Red Line Post by: Eusebio on January 10, 2014, 01:05:38 PM but mBTC is not so atractive as BTC for people:) miniBitcoin doesnt look as good as Bitcoin. and media keep pushing the news that not so long ago 1 BTC was worth around 1 penny.
Title: Re: The Thin Red Line Post by: bambou on January 10, 2014, 01:17:51 PM Children eventually stop growing and become adults. So, why not the same for bitcoin? I am not saying it has reached its peak now, but this delusional 25k-100k per BTC future is just silly. when bitcoin was $10 probably everyone thought 1k was silly. 10k will become the new 1k in terms of accepted price. If all the adoption continues ofcourse. talk to the people in the streets, i mean ordinary people, and you will see that most of them still think that 1K for Bitcoin is very silly. and to buy BTC at 1k is just phenomenally silly. thats what most ordinary people think. and i agree with them:) to buy BTC for 1k this year would be ridiculous. that's a psychological effect only. It's just a matter of what unit you use. If you say 1mBit is 0.800 USD the picture changes. If people start using mBit instead of Bitcoin when referring to units, acceptance would grow faster. yeah, lets just skip mBTC and start considering satoshis... :D Title: Re: The Thin Red Line Post by: Eusebio on January 10, 2014, 01:34:38 PM and i have heard that there are other cryptocuriencies with faster transaction times and maybe smaller transaction fees, and with a higher total coins amounts to be released. so those would be easier countable, one coin wouldnt need to cost 10 000$ and be divided into shitloads of smaller peaces. so i see no reason why those more advanced coins wouldnt overtake Bitcoin (which has its shortcomings) in the future, when more and more companies would start accepting those other, better coins.
Title: Re: The Thin Red Line Post by: Ibian on January 10, 2014, 02:03:28 PM and i have heard that there are other cryptocuriencies with faster transaction times and maybe smaller transaction fees, and with a higher total coins amounts to be released. so those would be easier countable, one coin wouldnt need to cost 10 000$ and be divided into shitloads of smaller peaces. so i see no reason why those more advanced coins wouldnt overtake Bitcoin (which has its shortcomings) in the future, when more and more companies would start accepting those other, better coins. Which?Title: Re: The Thin Red Line Post by: doctor877 on January 10, 2014, 02:19:26 PM and i have heard that there are other cryptocuriencies with faster transaction times and maybe smaller transaction fees, and with a higher total coins amounts to be released. so those would be easier countable, one coin wouldnt need to cost 10 000$ and be divided into shitloads of smaller peaces. so i see no reason why those more advanced coins wouldnt overtake Bitcoin (which has its shortcomings) in the future, when more and more companies would start accepting those other, better coins. Get a grib son.Title: Re: The Thin Red Line Post by: Eusebio on January 10, 2014, 03:31:18 PM and i have heard that there are other cryptocuriencies with faster transaction times and maybe smaller transaction fees, and with a higher total coins amounts to be released. so those would be easier countable, one coin wouldnt need to cost 10 000$ and be divided into shitloads of smaller peaces. so i see no reason why those more advanced coins wouldnt overtake Bitcoin (which has its shortcomings) in the future, when more and more companies would start accepting those other, better coins. Which?dont know yet:) maybe this future coin is not even released yet. from the egzisting ones, Dogecoin looks interesting: http://www.coinwarz.com/cryptocurrency/coins/dogecoin i personally would like PenisCoin to succeed, that would make me feel more advanced against some other people, because i have a penis. Title: Re: The Thin Red Line Post by: BitcoinBarrel on January 10, 2014, 03:59:45 PM As neat as that looks, it doesn't mean much. Anything can happen in the world of virtual currencies.
Title: Re: The Thin Red Line Post by: Eusebio on January 10, 2014, 04:18:51 PM Bitcoin has only one advantage over other more advanced cryptos - it is its name. Bitcoin. that name looks solid.
but if it will be replaced by milibitcoins or microbitcoins or Satoshis, it will lose its last and only advantage. milibitcoins or microbitcoins sounds lame, Satoshi sounds very japanese. imagine if someone would be ofering you microdollars, would you be happy? Title: Re: The Thin Red Line Post by: reg on January 10, 2014, 04:36:09 PM As neat as that looks, it doesn't mean much. Anything can happen in the world of virtual currencies. I was told the definition of an expert is "x is an unknown property and spurt is a drip under pressure". Of course the tendency is to use measurement parameters we know ie elliot patterns. linear and exponential lines. But they are all lagging indicators. I do not think they can be realistically applied to bitcoin because it is not one thing but many. I think of it as a "valuable number" and because it can be applied to many spheres of human interaction it's value is incalculable and inherently only limited to the uses it can be put. Who know perhaps one day 1 BTC will get you a nice little solar system in a quiet but select part of the galaxy!. Title: Re: The Thin Red Line Post by: Eusebio on January 10, 2014, 05:00:03 PM i can sell you one galaxy for 1 BTC even today!
you just have to say what you are going to do with that galaxy cause i dont want to give you a galaxy if you have some kind of bad intentions. you have to promise that you will treat this galaxy good. like a woman. Title: Re: The Thin Red Line Post by: pbody on January 10, 2014, 05:30:09 PM It seems as though our growth was planned way back in time. I give you the most important line in Bitcoin history. Everyone who sold above it is a winner. Watch out for this one in the future. Clearly big whales have been watching it (and it's parallels). Someone has been steering these channels since way back. (this was inspired by ronfkinswanson's version over at TV; it is now a Schiff Pitchfork and it's placed on the first 2011 bubble instead). TV Link: https://www.tradingview.com/v/LZQWPiI3/ https://i.imgur.com/DogGVna.png all this red line says is hodl. it says you should have held for two years at one point. ...try drawing that line on Oct 2012... I like the title though. reminds me of the movie. the steady upwards growth says it will be at around 3k by the end of 2014. Title: Re: The Thin Red Line Post by: TERA on January 10, 2014, 06:59:29 PM It seems as though our growth was planned way back in time. I give you the most important line in Bitcoin history. Everyone who sold above it is a winner. Watch out for this one in the future. Clearly big whales have been watching it (and it's parallels). Someone has been steering these channels since way back. (this was inspired by ronfkinswanson's version over at TV; it is now a Schiff Pitchfork and it's placed on the first 2011 bubble instead). TV Link: https://www.tradingview.com/v/LZQWPiI3/ https://i.imgur.com/DogGVna.png all this red line says is hodl. it says you should have held for two years at one point. ...try drawing that line on Oct 2012... I like the title though. reminds me of the movie. the steady upwards growth says it will be at around 3k by the end of 2014. Title: Re: The Thin Red Line Post by: Eusebio on January 10, 2014, 07:05:00 PM you will harm Bitcoin fanatics feelings if you not Hodl!
Title: Re: The Thin Red Line Post by: Eusebio on January 10, 2014, 07:08:05 PM and you can harm Bitcoin itself, if you not Hodl!
Winklewoses, FBI, CIA and the likes are hodling, how can you not Hodl? Title: Re: The Thin Red Line Post by: pbody on January 10, 2014, 09:04:14 PM Stop making arguments as if everyone is a long term investor trying to get the most out of a single trade - some of us like to trade the huge volatility swings also. I personally intend to have MUCH more than a 350% gain (to your 3000) by the end of the 2014. no argument. How does this chart help you as a short term investor? I sense some hostility. Is it regret for not hodling? Title: Re: The Thin Red Line Post by: Voodah on January 11, 2014, 10:10:34 PM Stop making arguments as if everyone is a long term investor trying to get the most out of a single trade - some of us like to trade the huge volatility swings also. I personally intend to have MUCH more than a 350% gain (to your 3000) by the end of the 2014. no argument. How does this chart help you as a short term investor? I sense some hostility. Is it regret for not hodling? It is a logarithmic chart spanning the whole history of Bitcoin. It is showing you how Bitcoin moves within channels (my private chart now has Fibonacci channels all over and they just line up to perfection). It's not really meant to help you in the very short term, though still, if you are an order book trader you can easily use it (I'd encourage even more channel divisions) to pick sell and buy spots where you simply put your order and then patiently wait. Probably one of the safest forms of trading if you can muster the patience. Title: Re: The Thin Red Line Post by: aminorex on January 16, 2014, 04:39:07 PM my private chart now has Fibonacci channels all over and they just line up to perfection If you share your chart, it should help your book. |
