Bitcoin Forum

You heard it here first, folks.
I expect you bears will be posting "wtf" in this thread just like you did in the "rocket is taking off" thread.

Your sig is hilarious.

Back on topic... wtf?

This thread is me predicting a rally to $4.6-5 TOMORROW.  Get ready :)
Of course, I still remain open to the possibility that I'm wrong.  But the market will definitely move in a HUGE way tomorrow, up or down.  I think the probability of a downwards move is very low at this point.

You're a day or two early... I think the big movement will come Jan 1/2, not Dec 31.

slow motion rally  8)

Serge: since bitcoin moves in spikes, it'll come very suddenly, but trust me, this is not a slow motion rally :)
Going to $5, bitches!

Some graphs and pesky facts to bring sense to this madness (data collected since the 14th):

http://img23.imageshack.us/img23/1306/adjusted.png

http://img507.imageshack.us/img507/2356/demand.pnghttp://img38.imageshack.us/img38/9449/supplyv.png

Trade volume activity (collected since the 21st):

21/12/2011 15:53 - Bid (buy) Volume: $92607, Ask (sell) Volume: $108854 => Net $16,247 sell
22/12/2011 23:58 - Bid (buy) Volume: $83754, Ask (sell) Volume:  $188171 => Net $104,417 sell
24/12/2011 11:52 - Bid (buy) Volume: $124414, Ask (sell) Volume: $159448 => Net $35,034 sell
25/12/2011 16:00 - Bid (buy) Volume: $116765, Ask (sell) Volume: $143122 => Net $26,357 sell
26/12/2011 13:30 - Bid (buy) Volume: $134398, Ask (sell) Volume: $188173 => Net $53,775 sell
27/12/2011 23:59 - Bid (buy) Volume: $166066, Ask (sell) Volume: $193020 => Net $26,954 sell
28/12/2011 05:45 - Bid (buy) Volume: $174779, Ask (sell) Volume: $198527 => Net $23,748 sell
29/12/2011 21:20 - Bid (buy) Volume: $203902, Ask (sell) Volume: $228877 => Net $24,975 sell
30/12/2011 23:59 - Bid (buy) Volume: $203871, Ask (sell) Volume: $334398 => Net $130,527 sell

Over the past 10 days, there has been a net selling activity of $442,034, yet the price has stayed at roughly the same level. There has not been one single day where the buy volume in dollars has exceeded the selling volume in dollars. This is profit taking, clear as day, with market manipulation artificially keeping the price afloat in order to take more and more money from clueless bulls.

You would have to be MAD to buy in this market...

Cool graphs bro.  How about you post more historical graphs so we can get a sense of whether your indicators actually work?

I have only been collecting depth volume data since the 14th of this month, and trade volume data since the 21st. I am working on an automated script that will collect this data automatically (i'm not the most diligent at manual collection, I'm missing a day or two). I will try to post as many updates as I can. I have posted the adjusted supply chart once before.

"I promise to buy @ $2, I promise to buy @ $2."

https://encrypted-tbn0.google.com/images?q=tbn:ANd9GcQK0sqgpfsm9BKfeI8KSW6a6Jepdz4ZHIQdTrpYIRAKQeXwpGUY

I bought at $2.20, and sold again at $4.30. I was more than happy for someone else to take it from there.
95% profit. Wishing for >100% would just be greedy. Whoever bought those coins off me for $4.30, I apologize. :D

but now you're in a quandary; the price hasn't tanked like you hoped it would.  we're only 7 cents below what you sold at and your tension is palpable.  who knows what your target was.  $3, $2.5, only you know.

if it goes to $5 tonite while you're sleeping, then $8, then $12, and on up to parity with gold somewhere around $1000, i think he'll be apologizing to you. ;)

The only thing in nature that grows exponentially is cancer.  Keep that in mind.

c'mon, lighten up.  this is the Spec forum.  can't i engage in a little fear mongering? :D

Unlike you, I have patience, and don't get all hot and bothered with intraday price movements. I am willing to bide my time and if my gamble does not pay off, so be it. There is nothing stoping me from buying back in.

I think I would qualify your statement of 'the price hasn't tanked' with the word 'yet'. This is the 3rd time we have hit $4.30, and if we fail to break well through it tonight, then I doubt we will be seeing it again for another while.

Yes, the price might increase. I am more than aware of this scenario and do not need to be reminded of it. But considering all of the data, the balance of probabilities has told me that I should sit it out from here and be happy with my 95% profit. Wouldn't you agree? It is greed that all too often gets the better of even the most skilled traders.

Like I said, if whoever I sold those coins to at $4.30 wants to try and take this rally further from here, he can be my guest. But if he thinks that bitcoin is going to reach anything even close to parity with gold in the near future, then I not only apologize but sympathize.

The end of the wedge is nigh!  This is suspenseful :)

I love the top two threads right now.  One of them was created by you on the 24th and in it you predict a correction down to $2.5-3 in 1-2 weeks from the date of your post .  The other was created by you today and in it you predict a continuation of the rally to $4.6-5 in the next day or so.

Anyway, I hope you're right.

The juxtaposition is striking, but opinion can swing as wildly as the price in bitcoin world. I wouldn't hold it against ineedausername. If i might ask though, what did change your mind on this INAU? Was it anything tangible, or just you solidifying a position?
I'm not being facetious, I'm genuinely interested.

 ::)

Sending money to Virtex! Canadian Virtual Exchange

I as well.  Do elaborate INAU, please.

Are you only able to communicate through the medium of still images or something, panerai?
There are a whole 26 letters in the English alphabet you know, and you can string them together in all sorts of imaginative ways.

I thought there would be a correction, but the price has failed to plunge through the strong supports like I originally thought it would.  Instead, it went and created a bullish wedge.  Additionally, I went and looked at the weekly chart for a bit, and observed that the weekly MACD would cross over this week, which is obviously a strong long-term bullish signal.

tl;dr: I thought the price would spike down, but it failed to do so, confirming the support and the rally.

I'm a bit surprised it took you guys so long to see this juxtaposition ;D  It really shows how the Bitcoin markets work; they're volatile and unpredictable, which means that if you hold a strong opinion one day, you must be ready to change it at a moment's notice.

don't worry, Zhou stands ready to change his algorithm at a moments notice...

There's always the ignore button, which I have already pressed ;)

don't worry, Zhou stands ready to change his algorithm at a moments notice...
[/quote]

hard on for the guy huh?
[/quote]

OMG, real words!

now thats the panerai i know!

I did mention something about you changing your outlook a few days ago, but I can't remember what thread it was in.
I don't think I got a reply! :D

lol, must not have seen it :P

That burrito looks tasty!

I see it as quite possible that Bitcoin will not only reach gold parity but surpass it. Not in the short term though, maybe in 5 years. For a 2012 prediction I'd say that the highest it will go is triple digits. That is not certain though but I would bet that it goes to double digits at least.

4.3 as the ask walls tumble!

Ho lee shit...

We are the market makers.  And we are the dreamers of the dream.

Happy New Year everyone!

oh sorry, 24 hrs early.

Spiked to $4.75 and now has retraced over 50%.

watch out for a Double Ramp.

I'm sitting this one out until the dust clears. Dammit!

i've been in your position many, many times.  i feel your pain...

these things seem to happen in the middle of the night when everyone's sleeping.  in fact, its 4:30 AM and i should be sleeping too, but this reminds me of the Spring when i couldn't sleep for months as the price kept ramping higher and higher.  the entertainment doesn't get any better than this...

i just happened to wake up and was curious about the price.  no more sleep for me.

I stayed up until 5am last night waiting for this, and then it goes and happens right after I wake up. Typical.

I dunno what you're on about, it's early afternoon, perfect timing for a rally. ;)

If I watched the ticker correctly, the EUR movement was a bit early, which would make sense. I could be wrong though -- and many Europeans trade in USD these days, for obvious reasons.

Well, shit!

Um, I thought you were waiting for it to go down?  I was even on the fence, to be honest.  The resistance at $5 was strong. 

Anyone awake this early is very lucky to have a last opportunity to get in before $5.

Shit, shit!

oh boy, the OP is gonna be all over this when he wakes up.  LOL!

I meant I was waiting for something to happen.

5th floor, menswear... 6th floor, lingerie :-)

lol HAHAHA  ;D :D Indeed you did.

This just became the rally thread, then :)

Anyone see that wonderful bidwall? Up we go!

nice wall at $4.5  ;D

And MtGoxLive connected is about to pass 500.  Haven't seen that in a while.


EDIT:  wall just moved to $4.0.  *shrugs*

Yeah can't connect either. I bet their number of connected people would be a lot higher if they can get their act together during big movements.

Ha, I'm connected too :)

http://www.btccharts.com/ works for everyone.

I still prefer bitcoin.clarkmoody.com (http://bitcoin.clarkmoody.com)

LOLOLOLOLOLOLOLOLOLOL!

i woke up last nite at 4am just before the rally got going.  somehow i have a knack for that.

as it was unfolding, i told everyone that you'd be lighting the place on fire when you woke up!

NICE CALL!

Thanks ;D

Double ramp time!!!  Target $5.2-5.5 :)

Yes, I like the sound of that. Please commence with the double ramp!

Well, I just came back from a NYE party (same time zone as MtGox) and was really suprised to see the spike to $4.99.

Now, for the person who called it.... Was it blind luck?  Intuition?  Chart reading voodoo?  Or insider info about someone who wanted to buy bitcoins in a hurry?  I'm sure this forum would love to know.

Intuition + chart reading voodoo ;)

we needed you to leave the premises first before we got things going  ;)

LOL  :D

Seems I need to go to more parties.  Heading off to bed in a few minutes.  Feel free to let the rally continue  ;)

He just went to bed and the rally continued! hell yeah!

Wish I knew who it was, I'd give them a BIG thank you.
But, you know what?
They made a safe investment this time. The price is going to hit $10 easily and they're going to make a quick $250,000, $500,000, or even a cool mill if they stay in the game that long.



Another big thanks to MtGox for saving the entire bitcoin project. Without them, bitcoin wouldn't exist.

BEARZ GETTING PWNT *HEHEHE* :D!

Welcome Back, Genius Boy!

Thank you cypherdoc!


Seen oldminer around lately?

Oldminer died in a mining accident :(
I haven't seen him for months.

no, i haven't.  alot of the old guys have disappeared and been replaced with new ones.

probably died during the crash. :o

Probably lost his ass. lol


I gave bitcoin up but I've been watching it to see the behavior of a dying stock. I didn't look at it for about 4 weeks. then I saw it get back up to $4. I was like WTF?!


Then I checked everything out and it looks like mtgox, although basically a monopoly in bitcoin right now, looks to have gotten his shit together! He even took my suggestion about being a virtual bitcoin bank. I don't have to worry about messing with bitcoin or clients, I can send and receive funds to other users using a simple transfer from mtgox. Because of this, I think this currency has a whole new life ahead of it. I'm excited!

Ok.. officially 7:35 EST, wow!

I just saw the sign, showed itself for a brief second...

The fit is about to hit the shan... :)

why would u think that it died?  the sourcecode has never been hacked and the blockchain is intact.

thats all that matters.  gox is just a peripheral player.

That's not all that matters. The players of the game matter. The reason bitcoins went to $2 is because of crime, corruption, dishonesty, and injustice.  It was just too hard to secure coins without worrying about inadvertently downloading a virus or being hacked. Even Google ads carry virii now. It's sad. Once you get a virus that was designed to steal bitcoins, it only takes a nanosecond to lose everything. You can say "Hey don't get a virus" but that is unrealistic because the virus removal business pretty huge which is proof the majority of people get them and proof the majority of hackers are writing code to keep them in business. Personally, I still get viruses despite my best efforts. Hell, even the US Chamber of Commerce has been hacked by China according to an article dated December 22, 2011: (http://www.theepochtimes.com/n2/united-states/us-chamber-of-commerce-hacked-by-china-162233.html).
To say that bitcoins should survive solely because it hasn't been hacked yet.... keyword YET....is not a safe prognosis. We have to have a plan B for WHEN, not IF, it is going to be hacked.

In conclusion, I think it should have died because the internet is still too wild too tame and there is no governing force or trust within the vendors.

On the other hand, I think it should SURVIVE because the value of currency lead by the world's governments is being manipulated and it should die, too, at the hands of untrustworthy vendors and lack of a government to govern the government.

Software monoculture is just as bad as crop monoculture.  If you are running the same set of software as more than a million people, your setup will be cracked.

Oh,,, the irony about your user name. !

When you're old enough to have balls hair, you might know a thing or two ... i hope.

Nothing like correlating age to ball hair to intelligence to prove you know something you don't know.


That said, I'm glad to be back on the forums ;D

Thats why i said "i hope"

Do you want me to say "you're hopeless" ?

LOL at your thoughts on bitcoin dying.

BUY BUY BUY BUY BUY BUY BUY BUY BUY BUY BUY BUY BUY BUY

That is all.


























BTW sell on 1/24/12.

Happy new years :D

Too bootleg, mary jane, and bitcoin's!

http://i41.tinypic.com/riwj.jpg

Looks like a 'Bitbull' in Wellington New Zealand $25,000 and the West cost of the US $32,000 worth of bitcoins.
If near San Diego CA, please join the Bitcoin - San Diego and Orange County
http://www.meetup.com/Bitcoin-SD-OC/ (http://www.meetup.com/Bitcoin-SD-OC/)
http://farm8.staticflickr.com/7032/6612201477_9b0e9531e4_b.jpg

$5 is coming, as predicted :)

Or high quality correction...

yes it is.

BUT YOU TOLD ME IT WAS COMING YESTERDAY! >:( ;)

YES! $5!

$6 is much closer on the horizon than $3 atm

touchdown! the sky is the limit now :)

but Proudhon said...

$5.1!  Blasting off!

Bitcoin now:

http://media.tumblr.com/tumblr_lp9m0lZwoj1qjv8ku.jpg

CHEVRON 7 LOCKED!

http://www.fantascienza.com/magazine/imgbank/ZOOM/NEWS/stargate-sg1-06.jpg

And the human population has not?

for that matter, what about the gov't debt?

https://encrypted-tbn1.google.com/images?q=tbn:ANd9GcTzTikMBzgBSyU39kEdKB-oxOu4vGsXK8LoQzVNE83Y1SHzDavO

haha!  This is one of the things that will ensure bitcoin's success.

It was pretty much linear until we invented soap.  The current exponential growth is not sustainable.


Exponential government debt is not in nature, and is not sustainable without serious currency devaluation.

well, i'd argue that it is "in the nature" of human beings. ;)

and who the heck cares about currency devaluation anyway?  8)

I love currency devaluation if it’s good for Bitcoin’s valuation. ;D

aka, the Greatest Transfer of Wealth the World has Ever Seen.

Cancer is not sustainable either.

And neither are exponential price rises... that was my point.

correction over!!?!!