Bitcoin Forum

http://bitcoincharts.com/charts/mtgoxUSD#rg60ztgSzbgBza1gWMAzm1g10za2gWMAzm2g25zxzi1gCCIzi2gMACDzv (http://bitcoincharts.com/charts/mtgoxUSD#rg60ztgSzbgBza1gWMAzm1g10za2gWMAzm2g25zxzi1gCCIzi2gMACDzv)

Appears time to dump BTC at this time....

I usually dump load at -100 such as on Dec 17 and pick up at a lower price....

MACD about to go lower than EXP and a nice tight negative divergence about to start...

Your OK bud,you don't need any permission to dump ;D

HA!

I beg you to dump them all!

I dare you to dump them all!

I urge you to dump them all!

And we buy them all ! All will be ours my precious

I dumped all of mine during the last few days.

I will be happy to increase my holdings  ;D

The weak hands give to the strong hands.

Dupm  ;D

I posted this one last night: PSAR and MACD on stamp daily.

https://i.imgur.com/ctEM4wl.png

It looks like there might be a chance to dump at a slightly higher level though if you want to chance it.

oooh my weak little girly hands......


$900 per Bitcoin was too heavy for my limp wrists, so I dropped everything and now Bitcoin is $800.......


If only I had big strong hands and was still holding $1100 coins, then my maw would be really proud!

Boo Hoo Hoo.

You short-term guys (kids?) are weird.

Everybody's smarter than next guy...

Well hodling is the easy way out and trading takes some skill and there are many technical details to debate. There isn't really much to discuss amongst hodlers. I can imagine a hodling discussion:

Hodler 1: Hey are you hodling?
Hodler 2: Yup.
Hodler 1: Dude so am I.
Hodler 2: Well I've offlined mine of the exchange! I couldn't even sell even if I want to. They're on my PC.
Hodler 1: On your PC? That's dangerous. A hacker could get it. Mine are on a paper wallet.
Hodler 3: Paper wallet? Please. Mine are on a brain wallet!
Hodler 4: Hey have you checked out those metal firesafe wallets?

When da bears in da cribb y'all.... HODL while its HOT!.... HODL while its HOT!.... HODL while its HOT!

Can I quote you when Bitcoin is $2,000?

By then he may have rebought at a lower price and it will be irrelevant.

If I am still holding them $810 bitcoins that I just bought, then be my guest!

Huuurrr... I'm badass, I want to see the world on fire wile I laugh at it... durrr.

Down down, I want it to crash, huuurrr...durrrr

Nothing to see here, you don't sound smart/wise/brave or whatever you're trying to sound.

Your frequent use of hurr/durr really drives the point home.

But none of these posters ever tell us when to buy back in. :(

They just magically bought back in lower once we are hitting new highs again.

OP make sure to let us know when to buy, OK?

[qoute]pick up at a lower price....[/quote]

Buy back in when the line goes back over -100. Its not even below -100 yet so will have to wait to buy back in. Take a look at what happened around Dec 17th. Entry when it cuts below -100 and exit when goes over -100.

All this is not set hard in stone though..

Can you let us know via this thread? Thanks!

Sure thing, I will post here when I see the BUY indicator come up.

You usually do? So you did dump at $100 per coin in October? How did "picking up lower" went for you that time? Or you are just making stuff up now, looking at how one indicator lined up well this one particular time?

if you want to buy in again when it gets lower then sure. if it is beacouse you dont think it will pass 900 again, then you are a fool

"All this is not set hard in stone though.." is what I said. Just wanted to bring up some discussions about charts and technical analysis is all...

Ok,got it now,it's all FUD

Watch as it heads lower...

You can change the 'Time Period' and go for shorter period if want to trade on a daily chart or hourly chart. Below is a 5 day chart showing dips and rises.

http://bitcoincharts.com/charts/mtgoxUSD#rg5ztgSzbgBza1gWMAzm1g10za2gWMAzm2g25zxzi1gCCIzi2gMACDzv

Combining several charts gives a better perspective.

Agreed 1,000%.

I hope so, because anyone who sold when you posted the OP is now sitting on a small loss and we haven't gotten your buy signal yet!

somebody getting nervous

https://i.imgur.com/SPN9Eku.jpg

Traders don't chase or get nervous... we wait and let it come to us. There are deals coming by daily if not in BTC then in others.

By the way, this is not about me. I posted the chart here so others can benefit from some information technicals can give us...If you think its bogus, please go your way because I am not trying to prove any point.

I just hope this thread gives some lead towards charts and indicators to viewers.

As noted by me earlier, negative divergence starting to form:

http://bitcoincharts.com/charts/mtgoxUSD#rg60ztgSzbgBza1gWMAzm1g10za2gWMAzm2g25zxzi1gCCIzi2gMACDzv

don't forget to announce when the time to pick up lower comes, please be unique and do that, don't run away :)

Please let us know your SHOTRING successes so that more people will understand how profitable it is based on these excellent analysis.

+1

i've yet to see someone do that

How does one short bitcoin?

I would be well up for that if I knew a way to do it. Such a fkn certainty.

Bitfinex

and can I link it with my Bitstamp account as the front page info on Bitfinex seems to suggest?

A monkey could SHOTR bitcoin now and become extremely wealthy.  All he'd have to do is just read all the confirmed bad news, preferably in Russian and Chinese.

Actually, a monkey couldn't short Bitcoin right now cos although the option exists, it seems that nobody is willing to 'loan' the Bitcoins required for a short trade.....

.....and why would they? Loaning Bitcoins to a short seller would be very bad business for the Bitcoin owner. Bitcoin market needs to grow a whole lot more before things like 'shorting' become a tenable and viable option.

Actually shrotting is already available. I'm surprised you don't know this!

It might be available, but there are absolutely no suckers willing to take the other/wrong/shitty side of the short trade.

Perhaps a couple of days ago when Bitcoin was suggesting that it may break out above the $850 level, then short selling may have been possible for quite a few traders, but just now it isn't. If you are so confident in Bitcoin, why don't you get over to Bitfinex and you can lend me some of your Bitcoins that u will obviously get back with a whole pile of interest payments as Bitcoin 'inevitably' goes 2 da moon over the weekend, leaving me sorely out of pocket?

Go on, be a man!

Please?

Pretty fucking please?

No thanks! The thing is, I don't know if you've understood this yet about me but I'm not a day trader. I've invested in Bitcoin because of the fundamentals. It's not the daily swings that I care about - you know yourself trying to time these is like walking through a minefield blindfolded.

Still managed to get in cheap by today's price though!  ;)

Then why not put your Bitcoins to work by lending them out to short-sellers?

That way, you keep your Bitcoins and earn interest on them and of course, it will be water of a ducks back to you when Bitcoin hits $600 range and you get your Bitcoins back some $150 less valuable than they are today, right?

I'm in for the long-term, with what I can afford, because I like this experiment and I think it has got a whole lot more blowing up to do! Can I ask, do you actually believe Bitcoin will be around in a year or not?

I 'believed' in Bitcoin three years ago but was always too lazy to make a wild card investment to support the 'cause'  as it wasn't so easy to do back then and Mt Gox seemed like the fkn shady two-bit operation that it has proven itself to be. I also didn't like the idea of having my CPU tied up 'mining'.

As soon as Britcoin/Intersango came around and more importantly, as soon as I became aware of Silk Road, I started buying and spending Bitcoins, hundreds of them! I always intended to make a small 1000 GBP wildcard investment into Bitcoin (I was putting a lot into precious metals at the time), but whenever I did, the coins inevitably made their way to some Silk Road vendor.

I then stood back aghast as Bitcoin soared from $10 to $260 in the space of three months. After the waters calmed, I bought 15 Bitcoins on LocalBitcoins at around $120 each (70GBP). I went offshore and  when I returned, I noted that my investment had near trebled in value and decided to sell. That night, I had a dream that Bitcoin popped through $600 on MtGox (see, I was up until very recently, a bull), woke up in a foul mood (I knew from my dream that I had been a fool to sell my BTC), noticed the price at around $400, some $50 increase on what I sold at, and immediately went about getting myself set up on Bitstamp (premiums on LocalBitcoin were like 30% and I was refusing to pay that). By the time I made my first tentative steps as a Bitcoin speculator some 11 days later, Bitcoin was trading at not $600, but $700 dollars.

So, I have completely missed the boat due to my lack of speculative mindset. By the time I did enter into Bitcoin as a speculator, Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice.

So no, I no longer care or 'believe' in Bitcoin. Bitcoin has become what the community who has adopted has made it.

Trust issues.

Anyone who sold at the OP is sitting on some nice paper gains at the moment! Now we wait for that buy signal!

So you don't trust Bitfinex to actually debit my account of the 'inevitable' losses that I wish to inflict upon myself by foolishly shorting Bitcoin?

Well yeah, if all you do is hang out in the speculation sub forum, all you are going to hear is greedy bastards talking their book. Duh!

Bitcoin is doing just fine. There have not been any protocol changes which has turned it into the "financial status quo". Anyone is free to use Bitcoin as they see fit. The tool does not choose it's users.

Not at all. Not even in the slightest. They could disappear tomorrow for all I know.

We tried to warm many users. BTC was $850 1/15/14 now $65 cheaper and next week another $100 cheaper. Buy the dip sure but sometimes you gotta cut losses and rebuy lower (if you have no fiat on exchange)  to lower your cost average. Some who listened just lowered their cost average by $65 in just 2 days. Not bad eh?

What is your target for the bottom?

The thing is though, and this is what everyone who wants to make money should really internalize, you shouldn't merely SODL bitcoin unless you SODL SHOTR.  The upside potential of the downside is just too great and confirmed.

$550 - $600 not being greedy just playing the 30 Week EMA

Still no buy signal and now those paper gains have again turned into paper losses. I thought we were day trading here!

I somehow doubt you have anything to do with The Bitcoin Foundation.

Then tell me, for a newcomer looking to put some of his savings into Bitcoin, how then does he avoid the greedy viper bastards with their manipulated bot controlled markets (some of which possibly fake their volume) and the hyper inflated prices based largely on delusions of avarice which surely must crumble apart at some point before Bitcoin can be allowed to grow?

Is there some 'Gentleman's' market around where Bitcoin is traded only at the long term mean value?

Just remember, the fundamentals suggest bitcoin is going to collapse all the way, so the best investment in bitcoin is a heavily leveraged SHOTR position.  Keep it alive by throwing more money at it when the market moves against it, because eventually the market will completely collapse and you will win.  This has been proven by facts and confirmed bad news sources.  Bitcoin is doomed, and SHOTRING it is a good bet.  I am not being sarcastic.

Which one of you assholes took a BTC dump this morning?  :D

Thanks for the top advice Proudhon, but I have already maxed my leverage out this morning at $835 per coin...going pretty well so far and I should really take profits, but both of us know that Bitcoin is fucked and the longer I leave taking profits, the more profits I am going to get.

Such bitterness. You sure you aren't just butthurt about missing the ride from 100 to 1200 and are now taking it out on the bots and manipulators who have pushed you out of the market? I doubt you would have been so cynical if you had managed to hang on for the entire ride up. You should be blaming only yourself and not bitcoin or the market.

Yup.

I am one bitter greedy avaricious viper bastard. Just one of many that makes up the current ethos of the Bitcoin using community. I am in this for what I can get from Bitcoin. That means for me to win, other people need to lose. Despite being an early user and ideological supporter of Bitcoin, I totally missed out, both on the run up from $10 to $260, and then pretty much the same again on the run up from $100 to $1200 (I could even argue that I missed out on run up from 0.001-$30). Since entering market with speculative mind-set however, I have mostly won. That means some people somewhere out there have taken a hit in order to fill my pockets. This pleases me. True, I make duff trades myself with my weekend short positions during the bounce up to resistance levels being a prime example, but I held onto my short position and have since extended it and you know what, I am a ball hair from breaking even already......but of course, I want much more of others peoples fiat (BTC, I am not so bothered about) than just enough to break even, and I intend to get it.

I don't sound very nice do I? That is because my motivations for being involved in Bitcoin aren't very nice. But I am just a harmless tiddler in a big toxic pond of death. Therefore, me describing my Bitcoin attitude as badly as I can, doesn't even come close to the dirty underhand cut throat viperish reality of the present day Bitcoin market.

He dollar cost averages and forgets the daily/weekly/monthly movements. If he wants to add a little market prediction, he dollar costs averages once a month and personally picks what he considers a "good time" to make his monthly purchase.

Oh and... hyper inflated prices...

http://media.tumblr.com/3aa531f2d37a6fbf141c2936b0e1ab91/tumblr_inline_mjkw9sQHdX1qz4rgp.jpg

If everyone believed that, the prices wouldn't be "hyper inflated" anymore, regardless of whatever the "greedy viper bastards and their manipulated bot controlled markets" want.

Just you wait and see.

Only if you (and they) are only interested in fiat profits. Bitcoin has much more to offer than that.

Exactly, I will gladly "lose" dollars to anyone who is willing to "lose" bitcoins to me.

I know.

Thanks to Bitcoin, I can by drugs of such high quality that they could never realistically be found trading on the streets without being cut to shit.

As for money laundering, I am not really in that market.

Porn I can stream for free.

For openly moving money around the world, there are far cheaper and more convenient options than using Bitcoin.


Then go long Bitcoin, now!

I have yet more shorts on Bitfinex in the low/mid $830s that are needing triggered and I need a decent volume of mugs buyers to trigger them.

I've been hearing that for over three years man. You are just the new version of ElectricMucus.

Sure, the exchange rate will probably go down at some point in the future, but as long as Bitcoin continues to function, it will probably go back up. I'm not going to risk handing my coins over to "greedy viper bastards" in the meantime.

When Bitcoin is in a confirmed stability period or on another bull run, believe me when I tell that my tone will change.

I'm already way long since <$1, but thanks for the suggestion.

Well, I personally use it as a store of value which ultimately can not be seized without my permission (and done correctly, can't even be seized with my permission), and a means to transfer value without obtaining help from middlemen or permission from any authorities.

looks like several assholes did it  ::)

Well I guess all I can say to this is that we see is what we become ourselves. If I perceive the market as vile and dirty, I become vile and dirty myself when I participate in that market. I however perceive the market as a good thing, a force that moves in a kind of predictable manner if you have a good understanding and insight into the fundamentals and/or the technicals. The bots and manipulators don't really matter in the grand scheme of things. You can't always get it right, but for the longer term I'm confident I'm not wasting my time and money on this. And even for day trading you can do well in the long run if you stick to a favorable risk/reward ratio and have your shit together. Most people however do not and will lose money with sloppy and emotional day trading.

Let me tell you that I have bought my first bitcoins at the top of the bubble in April after following the entire rise as a bear waiting for a dip to buy in. I was a noob back then and didn't know that when the most stubborn bear turns bull, the market will turn around. ;) My average entry point just before the April crash was around $200, and I held during almost the entire crash to $50 putting me deeper into the red than you probably have ever been. My luck was that I was not all in yet, although I wasn't really planning on buying more at that time. But instead of selling at a loss I decided to double down and buy more on the dips to lower my average entry point. I managed to lower my average entry point to around $100-110 in June, but then I decided to spend 88 BTC on a KNC Jupiter and well about half of those BTC I will never see back. So even with mistakes like this I am now sitting at around a 500% ROI after sitting at -400% to -200% ROI for a couple months after April. Patience and a strong believe in the bitcoin protocol rewarded me, and so it can reward you I think. But not with your current attitude, I believe you will hang on to your shorts for too long until it's too late and then you will be too scared to buy back in and get slaughtered.

Oh really? Enlighten the world please, you must posses some hidden knowledge. You need to transfer 100k usd from europe to your partner in states in an irreversible manner with costs around 10$, without using bitcoin, and if possible without the risk of your money being stolen. Explain how.

With bitcoin, it takes me all of 1 second while not picking up a phone or going anywhere + 1 hour wait before the partner is completely sure the money is his. There plainly is no such financial instrument in traditional world, for any money. It is a multi-day process in the best case and involved a ton of confirmations, calls, faxes, walking, signing, whatever, all the 20-century old school mumbo jumbo. We don't drive horses to work anymore, why must the world  still rely on a written ink signatures that anybody could falsify for all of the important deals and finances? Seems archaic and stupid.

As things stand, I can get money from GBP to my German €uro account for as little as 0.2% premium, and this is for amounts less than $10K USD. This takes one day. Presuming my partner wasn't wanting to spend the 100K on black market products off the internet, how can Bitcoin possibly do this cheaper or faster? Bitcoin transaction might take just 30 minutes, but BTC still needs to be cashed out and with that there will be an exchange fee, and then further fees and delays to withdraw funds from exchange, especially so if the fiat is to be exchanged into any currency other than USD or Euro.

One day + it is reversible for up to 20 days. You are talking currency exchange, not "moving money around the world" now. This is a completely different topic.

But what good is 100K worth of Bitcoin to anyone that wishes to actually use it as money, if it is stuck in BTC form?

Sorry, but until such a day is reached that Bitcoin is considered 100% fungible and interchangeable with local currencies, there exists much faster, cheaper, and more secure (in terms oif knowing that your 100K aint away to take a 20% haircut mid transit) ways of shifting money around the world. Where Bitcoin has an advantage is when their is a need to keep the transaction of radar, but then there are huge premiums to be paid in converting to local currencies.

The possibility to transfer value exists today and is way more secure and convenient than anything else. Exchanging easily for the local currencies - maybe a thing of tomorrow, or maybe a thing of the past, who knows.

LOL!

In the UK, u go and try finding a trader who is willing to exchange Bitcoin for cash at anything more than 15% under spot! And that is in the UK where we have access to all modern financial tools and products....in less developed countries I would wager even higher obstacles and premiums.

Again, only really an option you would take if staying of radar of financial system was paramount.

What source are you using for the spot price?

Indeed, in my experience, any reputable trader on localbitcoins is charging a very hefty premium. ≥ 6%, and 20% premium (over Bitstamp) is not entirely uncommon in my area.

6% is standard for bank transfer payment and indeed, during November bull run when I was desperately trying to get some cash into Bitcoin and Bitstamp verification was taking 11 fkn days, bank transfer premiums on LoclBitcoins were as high as 30%. I refused to pay it and ended up missing out on a lot of upside because of it.

However, if you are going for anonymity of cash payment, then 20% is standard even during turgid market phases. I was being generous by stating 15% to prevent some Bitcoin nutter from 'showing me up'.

I only look at cash. I see no other use for localbitcoins. If I were interested in wires/transfers showing up in a bank account, I'd cash out from the exchanges.

I don't know if you are in UK or not, but for UK Bitcoiners, the 'local' exchange means Bitstamp, which deals in Euro and USD transactions. For most UK punters, there will be 3%-4% bank transfer/money changing transfers to deal with at both ends, going in and coming out. This is where LocalBitcoins comes into it's own for privacy insensitive Bitcoiners.

The spread on face to face cash transactions is generally pretty terrible, especially when the market is moving quickly. Unfortunately that is what happens in a small marketplace such as LocalBitcoins.

More terrible perhaps than Western Union?

No need to answer that, it was a rhetorical question, I already know the answer (much more injurious rates than WU).

Yes because small, volatile markets such as bitcoin are totally comparable to established, traditional currencies.  ::)

How about before you go jumping in face first you read through previous comments and get a little context.

This is the comment that I am essentially countering:

You're the one who compared the spreads on face to face transactions through LocalBitcoins to Western Union currency spreads.


I'm sure we can agree that bitcoin is a far more efficient payment method and the problem is typically with the recipient accepting it and/or trading for a local currency.

Bail out while you still can....

http://s29.postimg.org/cj85rg5mr/btcchart.jpg (http://postimg.org/image/cj85rg5mr/)

FUD

Yeah, funny how these guys stop talking about the MacD when it turns positive. They are actually training us to ignore them.

I was always bearish mate...MACD never turned positive if you look at the chart which I have posted at the beginning and now...

The 4hr 6hr MACDs which were looking negative 2-3 days ago, have now turned 'positive'......but in a period of low volume stagnation, this means nothing. The RSI and the KDJ may show that Bitcoin is 'oversold' but the lines are not interacting with each other in anyway which might suggest a 'must buy' situation. The longer term technicals which will be less influenced by the recent stagnation are all still pointing down the ways.

Always?? You must've lost an ass-load on money by now.

Either you've been wrong for years in which case I shouldn't listen to you or you haven't been around long, in which case I shouldn't listen to you. Which is it, Mate?

I am the original poster of this thread. Take a look at the chart which I posted at the start of the thread. Since then BTC has gone jack is what I meant to say...

No one is asking you to listen to me...hold on to your precious as you see fit...

Yup. Thread started on 13th Jan. Bitcoin price $830 - $845 (Bitstamp). Bitcoin has never been valued so highly since that date and has nose dived significantly lower on a few occasions.

Good call!

If Bitcoin isn't doing jack, then it's doing exactly what it's supposed to do. It was designed as a medium of exchange. it's more useful when it's stable. If it's more useful, it becomes more valuable. if it's more valuable, it becomes more expensive. Then the price rises again until we take some profits and make it useful again. Haven't heard you say anything substantively or qualitatively different than any other bear for the last three years. If yer gonna be wrong, at least be original.

I am just saying that as per the chart its heading down...and if you know the charts then that's cool, but there are a lot of people who don't so no harm in letting them learn.

I am not in any way saying that BTC is all dead and over or some doomsday has arrived. And yes its certainly good news if it is more stable but volume is too low to make a call on that as of yet.

There were people wanting me to post when its time buy and now is not the time yet.

None of that justifies 'dump now while you still can'......
in fact thats a great contrary indicator when the market is going down....

Again?

Come on people, I have some fiat that started to stink waiting for your dumps  ;D

I'm in the UK and a SEPA transfer costs a flat rate of 4 Euro (with HSBC). I currently use Kraken, though also have a Bitstamp account. Kraken doesn't charge a fee at the other end. They charge 0.2% trading fees EUR/BTC (less for higher volumes), and 0.09 Euro to withdraw Euro via SEPA.

Let's say you're sending 500 Euro, this can mean around 1% in total fees.

(Granted, you're at the mercy of what the bank deems a fair exchange rate for GBP - EUR)

See what I highlighted. That there is your 3% - 5% premium. From what I read, a lot of people don't seem to know this. They are transferring money and don't realise that the banks exchange rate is some 3%-4% nippier than the actual exchange rate.

There are of course cheaper ways to get money into foreign currencies. TransferWise being the best of the bunch that I am aware off. However, they don't deal with Bitcoin exchanges and neither do any of the other cheaper alternatives to international bank wire. The only way for a Brit to get GBP onto Stamp at a cheap rate <0.5%, is to use a foreign (Euro) denominated bank account as a stepping stone.

Yup, we really need a better way to get bitcoin in the UK.

https://i.imgur.com/FnoULiK.jpg

SSSHHHH!!! Keep quiet! He might fall! :D :D :D

Just as I mentioned day before yesterday BTC has taken a dump.

Good call again. PM billyjoeallen and let him know how wrong he was.

Perhaps you should also advise him under no circumstances should he start up his own Bitcoin consultancy as he may end up with a lot of angry clients.

ha ha ha 8) 8) ???

As mentioned...

After lecturing someone about the merits of buying and hodling at any price because any price in fiat currency for Bitcoins is cheap (I think Bitcoin was about $840 at the time), billyjoeallen informed us that he was thinking about starting up his own 'Bitcoin Consultancy'!

I nearly spat my teeth out into my tea! Well, I would have done if I had false teeth, and was drinking tea at the time, but a negative on both counts, I am pleased to say.


Did i congratulate you on your great call yet? Well in case I didn't, congratulations once again! Perhaps you can celebrate by quoting a small compendium of the most pompous bull-tard remarks and insults that you had to endure for very kindly providing people with the chance not to lose money.