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You were here in 2011. 70 coins is peanuts mate - and you are probably leveraged 2:1 or 3:1.
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Why shouldn't we turn this trend around again? I think the most probably scenario right now is that the bull market of 2013 was mostly caused by gox and the block halving, many ASIC companies, and a lot of media attention. If we factor out those bubbles, we're still on the long-term exponential track!
That late 2013 surge to 1200 was caused by the Willybot. The media attention just followed after because of the surge. Everyone thought that was it, the big one. But just like the stock market hype machine, it's not. Even if factor out both bubbles of 2013, we're back at the long-term exponential trendline. I also believe that the Willybot may be a real factor in this whole deal, but Bitcoin has gone up before Willy was in charge. because it wasn't only willybot that rised the price(i''m not buying it at all), that was just an assumption made from someone here, i would add that chinese played a big role too, and also doge has brought many new comers to bitcoin's scene, that was also another reason for the 1200 peak What occured late 2013 was a pump and dump, pure and simple. Some people would say no... But BTC is an unregulated market place and it happened, and will happen again again. Even in regulated market exchanges the pump and dump happens. It's a reality in the markets. It is also just your interpretation of the events that occurred. It ignores that Mt Gox died with an alleged 1/2 billion dollar loss of coins that probably never existed except on the gox internal database. It ignores that the Chinese central bank deliberately intervened to threaten the legality of bitcoin in the 2nd biggest economy of the world, a country that was responsible in part for the rising price during the end of 2013. The price got ahead of itself after a bubble and has been deflating. The difference this time is that leveraged exchanges like bitfinex have prolonged this bear market hugely by allowing shorting. |
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Just 2000 coins before we go below 230
8600 coins before sub 200.
One click of the mouse, and king bearwhale can throw bitcoin into oblivion.
<snip> Price drops twenty dollars and suddenly we are close to oblivion says someone who has predicted 0 of his last 20 sub 100 calls correctly. |
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How are the longs/shorts looking after the dumpfest today? Any insight and speculation from you guys around here? Didn't seem to cascade that badly, still. Scary.
Shorts @ new ATH. The price could crash much lower easily as whoever has pushed us down could wipe out the entire visible bid side easily. That said with shorts at ATH one or two big buys could instantly squeeze the shorts. Toss a coin. |
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Why anyone would think miners are behind a protracted bear market which is depressing their own income stream is beyond me.
It is like the oil producers dumping huge amounts of oil on exchanges and not caring about selling for best price.
Producers of commodities want the best price for said commodity. They may use sophisticated hedging strategies but certainly not by dumping 10,000 coins in two minutes. In fact when demand is low they hoard and actively restrict supply - the exact opposite of current market action.
It is just a few large speculators running the market up and down and profiting in both directions. The kind of blatant manipulation only possible in unregulated markets.
The only thing to fear is central bank intervention, or another large entity with enormous capital reserves who doesn't care about the ecosystem and is maliciously trying to destroy confidence in the currency through excessive volatility.
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Who is afraid of the big scary asks on finex.  |
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Somewhat related to my post above, on this blockchain-without-bitcoin business:
There are several things going on here:
1) Bitcoin's blockchain data-structure with POW-voting was created to allow a completely permissionless network.
2) We think that the permissionless quality is desirable for money (and more general global record-of-authority use), in that it makes the money unconfiscatable and uncensorable.
3) We tolerate the practical inelegances of blockchain systems because of #2.
4) One *can* create a blockchain in a permissioned environment and therefore eliminate the native unit of account, since the native unit is only technically necessary to create the incentive for the permissionless aspect to be credible. But then by definition ("permissioned env"), you don't have #2, so we're talking about something *completely* different than bitcoin.
5) #4 is essentially a linear advance in database tech. Cool, but totally without any of the ramifications of bitcoin (global currency, open platform for innovation, etc). Hyperledger, Eris, and Ripple all pretty much fall into this category, and it's totally different than bitcoin. We shouldn't even consider it all that related.
Excellent succinct post. |
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So in your opinion double digits are possible and bear market will continue for another 3+ months? Not impossible, just unlikely. Final flash crash and recovery to atleast current levels seems more like bitcoin.
I'm undecided on the future but i thought this idea was interesting. I would not be surprised to find BTC in the 100$-range just because of the costs of running it are so high 3600 (coins) times 245 (dollar) times 365 days = 321 MILLION USD need to be spent on bitcoin in the next year for it to hold this current marketcap. I am not sure if it can attract another 321 million after what we have seen lately and how it is looking right now. Downward pressure is quite high on this inflation-coin. I'd be happy if we could enter some stagnation now until halving. I don't think a big bullrun is likely this year for this particular coin. You think the cost of running the network is 3600*exchange price * 365? Lol. |
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Bitcoin's price has been tanking, and I'm leveraged long to the gills.
My continuing fail can't possibly be due to my greed & stupidity, so I'll just go ahead and insult strangers, instead of learning from my costly mistakes.
I'm not sure if it is relevent but I have an unhealthy obsession with child pornography And I spend 24/7 trolling this forum. I am probably intelligent but haven't amounted to anything in life so I just act like a c@nt on here talking to myself all day. Don't forget me! Or me! Well I never.. |
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Whats the next major support level after $240-$242?
$235-$236 ? then $228?
We get it, you are short. No need to push it Damiano. Also those three chartists you mentioned are just following the trend. They (perhaps correctly) will continue to predict the price is going down until the exponential trendline is broken. How many chartists predicted the last two bubbles? |
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Perhaps we could have that list in a sticky post at the top of the speculation forum.
Alternatively, I would be happy to pay the hosting costs and register a domain if someone did the leg work setting up the forum software for an alternate site.
Oh c'mon I'm on the list, am I a shameless troll too now? lol  If the cap fits..but seriously you shouldn't be on that list |
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Perhaps we could have that list in a sticky post at the top of the speculation forum.
Alternatively, I would be happy to pay the hosting costs and register a domain if someone did the leg work setting up the forum software for an alternate site.
It would probably be easier to open a competing WO thread on this forum and moderate it yourself. I work as a surgeon. Honestly don't have the time to moderate reliably for the forseeable future. |
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Perhaps we could have that list in a sticky post at the top of the speculation forum.
Alternatively, I would be happy to pay the hosting costs and register a domain if someone did the leg work setting up the forum software for an alternate site.
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Panic at this low level is good. We need double digits or even single digits for a new bullrun back to 500$ or so before we can finally put it to rest. It's not entirely dead yet. Show must go on ...
Run along now, playtime is over. |
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What would it cost to dox these trolls?
May I offer you "THE LIST"Hfertig
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DoxThatTroll Instructions for Newbies: Go to ProfileThen Ignore user optionsCopy and paste the above names into that magic box. Presto! No more trolls!  Nice  |
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I knew it I would be getting a response from you lambie, just for using "amirite". What happend to your main account?
The best guess is he accused a legendary member of being a paedophile. |
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What would it cost to dox these trolls?
Since they are all just notlambchop, probably not a whole lot. |
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- snip -
So easy for whales to "paint the tape" when there are no other big players in the market, lol. It took them 15k on finex alone, so I wouldn't call it "easy". thats peanuts for people that used to mine 1k/day.. with GPUs.. Perhaps, but back in the bear market it only took 2-5k to initiate much bigger drops. We're in Schroedinger's market right now. We don't really know if this is already a bull-market, again. Right now we're still in the bear-market, as well. We need a breakout to confirm the bull market. 'breakout', as you like to refer to it, has to converge from 'breaking' macro event.. 1/euro crisis 2/dollar crisis 3/war add one of these this to halving and you'll get your spaceship memes. any other "(lol)rganic" pumps will inevitably result in more dumps. bots and whales festing on y'all sunday bitcoiners. Not true. Two market buys like the market sell earlier and we would break out of the downtrend. There has been no news today. Just a whale moving the price down isn't it? |
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Oh dear, down 9 dollars. Pretty big market sell to achieve that. Bids held up well and no follow-through selling yet.
Let's see what develops.
I might buy if we drop lower.
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Don't worry guys he is back on ignore again.
Back to the wall observation!
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