Thanks, OP's link was disappointing  . |
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Good. 170k BTC out of the market.
Up, up, up!
talk about a trophy catch for the FBI though. could be billions one day The second the FBI can sell the bitcoins, they will. I just wonder if they will dump them on the market all at once or be smart and do it over a 2-3 month period.. They would get a lot more. But I dont see them holding much. THey will hold some, so they can use bitcoins in other investigations, trust me, that will happen, but they will sell the majority.. They will sell them at auction like all property they seize. That would be interesting if they put up 40 million dollars worth of bitcoins, I doubt they will auction that off, just like they dont auction off cash... at an auction, they wont get as much as if they sold at an exchange, but this is the govt we are talking about. they always do things the most difficult and most expensive way possible... We are at least a couple years away (if not more) from them selling them anyways, by that time, the bitcoin price will probably be a lot higher.. They cant do a thing until the case is settled... Auctioning cash makes no sense. Do you want to buy these dollars for some dollars?  Auctioning off multimillion dollar homes and boats, however, the do. |
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First, I dont want this to be true but it is.
Currency is a unit.
It is a unit in the system of measurement of value. Just like an inch is a unit in the system of measurement for length.
Units (and there have been thousands of different ones) all have 2 things in common.
1- They are not real. They are all made up, everyone of them is just an opinion. Inch, pound, meter, cat 5, g force,currency --- not real.
the are all just an opinion that we chose to share. We all share the opinion that an inch is so long, if we all shared the opinion that an inch was a foot then it would be.
2- All units are equal to a constant.
The US Dollar is not a currency because it is not a unit. It has to be definable it has to be equal to something. An inch is not real but it is definable.
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Good. 170k BTC out of the market.
Up, up, up!
talk about a trophy catch for the FBI though. could be billions one day The second the FBI can sell the bitcoins, they will. I just wonder if they will dump them on the market all at once or be smart and do it over a 2-3 month period.. They would get a lot more. But I dont see them holding much. THey will hold some, so they can use bitcoins in other investigations, trust me, that will happen, but they will sell the majority.. They will sell them at auction like all property they seize. |
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Automation will just make things cheaper, so people will need less money and just need to work less.
If the automation doesn't make things cheaper then how will all these people without jobs be able to afford the products created by this automation? How will this automation survive economically?
These problems are always resolved automatically and naturally by market forces.
aside:
Unemployment is an artificially created situation used by governments to keep the employment market competitive and wages low.
It's easy to solve n% unemployment if you want to - just make everyone work n% less and thus create n% more work.
Why do people like you exist. I highly reccomend taking a kindergarden level economics course (If it would exist). Would dramatically boost your knowledge of how an economy functions. That comment was entirely unproductive. Instead of mocking him you could help him learn. |
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If you have the balls, now is certainly not a bad time to buy BTC. Take a step back and look at what fundamentals are telling you compared to what your emotions are telling you (fear). The further it falls, the better the buy.. assuming you have the long term confidence in Bitcoin. If you didn't, you probably wouldn't be here. Those who don't truly believe in Bitcoin but are just here to gamble shit their pants and dump after a 20% drop.
Just keep in mind that capitulation may continue for a few days after such a nice run up (all the weak hands moving out, or people trying to make a quick buck). You can't predict exactly when it'll end, partially because a few big players could randomly determine that.
And that's why you have standing bids every 2% or so. That way you get a good average price no matter where it bottoms  . |
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I think the US has already tried a similar approach: This is the first generation that will be less educated than their parents. How's that working out? ... at the same time China has 10's of millions of engineers graduating over the coming decade. This may not end well. The U.S. has basically a free education system if you go to a public school. The reality is education standards are worse than 10 50 or even 100 years ago. Most can't find Australia or England on a map or know basic algebra. The engineers and workers in the U.S pay all the taxes. We have a massive welfare system where a women with 15 kids actually expects to have everything paid for her. The majority expects massive amounts of free stuff. In China you are allowed to have one kid or face fines. I don't know how we can be less educated when virtually everyone qualifies for student loans. The problem is education does not necessarily lead to wealth or remove you from poverty. In many ways it is worse because a person with a B.S. expects to be paid such and such so they end up in government with fat salaries. Many in government also seek degrees to get a bump in pay, even though they don't even need the degree. Robert Reich is treated like a hero of the poor, yet in my humble opinion he is a financial terrorist to the workers and poor. His false solutions will only lead to the poverty it has already caused. Obama reminds me of Kirchner. Both are kind of cool cats which the welfare state just loves. We can be less educated because idiots I know are going $40k into debt to get a fucking B.S. in pottery. |
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I'm late Gen-X. I see us as stuck in the middle between the boomers who are retiring now and want the system to continue and the millenials who have become debt serfs trapped between more student loan debt, higher housing costs and lower job prospects than any previous generation faced.
The millenials have every reason to revolt if they are smart. I'm not sure what direction us Gen-Xers will take. On one hand we are more established and want the system to continue, on the other hand we know it will unravel before our time is up.
LOL. Handing off the baton? Yeah right. The baby boomer generation is set on sucking every penny through their unsustainable pensions and the current situation with social security. As my university professors warned us, our generation will be left holding an empty bag. The pensions are unsustainable and will NOT continue for Gen X. Gen X, it is wisest if you see the debacle you have been placed in. Tuition has risen to record levels, and in most cases graduates will be 30 years old until their student loans are paid off. Don't rely on pensions, social security, or any of that other nonsense. Lol@ having student loans paid off by the age of 30. Try 45. |
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And what is that definition?
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And in my country silver bars can't be confiscated at a whim, I live in the EU, which is still not a police state.
That's what people in the US thought... until it was confiscated along with gold in 1933. I don't think silver was confiscated in 1933 only gold and various gold certificates. What? You think gold can be confiscated, but no way no how, that silver can be confiscated? Where is the logic?  No. I stated silver wasn't confiscated in 1933. Where are you getting your info that silver was confiscated in 1933? US Coinage was still made from silver until 1976. My bad, it was 1917. I don't think there was seizure of physical silver, but the penalty for storing value with it was up to 10 years imprisonment and a fine up to $10,000. And that was when the dollar was worth something. http://en.wikisource.org/wiki/Proclamation_2039That the President may investigate, regulate, or prohibit, under such rules and regulations as he may prescribe, by means of licenses or otherwise, any transactions in foreign exchange and the export, hoarding, melting, or earmarkings of gold or silver coin or bullion or currency
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Someone please explain this to me, because I clearly don't get it -
How can an actual pump-and-dump scheme be possible on BTC?
If a trust is pumped with $$$ therefore pumping up BTC, what happens when everyone sells? Fund still has same amount of $$$, so only early jumpers actually get to see their gains, and rest are left dry.
Why would _anyone_ try to pump-and-dump given then when the dump arrives, there's a high chance of the money simply vanishing into thin air?
The fund does not have $$$. The fund has BTC that they bought with investor funds. However, the effect is the same. Only those who sell before the pop and those who bought low will retain their wealth. |
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If we get 8 more upward candlesticks, with some of them being larger than any we saw in April, then like I said, that would now put us in the early stages of a bubble.
Yeah no shit, you haven't got a spade unless it's at least a queen, and she must be smilling and attractive otherwise it doesn't count. No, what you have right now in your hand is "high volatility." No more no less. Historically, volatility (as measured by standard deviation) is still very low on the weekly chart. Daily's not even too bad yet . |
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Still less than 10% down to stamp. China follows. Looks sound.
When we pass all time high, every fucking lowly newspaper in the world will have an article about it.
Could be true, so if someone wants price down he needs to dump at max $250 without ATH. Right? Why would anyone want to do that? Self-sacrifice? Why would anyone want high price now? Why not hoarding for a year or two in the $50 - $200 range? Just a thought. We already hoarded at the $3 to $7 range? ding ding ding, we have a winner |
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And in my country silver bars can't be confiscated at a whim, I live in the EU, which is still not a police state.
That's what people in the US thought... until it was confiscated along with gold in 1933. |
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I know traders posses skills and knowledge that I do not. But I also know there's some randomness in the mix. How much of trading success is due to skill vs. randomness? I think statistics dictates that if there are 1,000 traders of equal skill, a small percentage will do extremely well, simply due to being on the extreme edge of a probability curve -- in other words, some of those who look like geniuses will really just have benefitted from luck. So how does one know if a trader's success is due superior skill or just plain old luck? And how does one know the trading tactics that worked well before will work again, when a much larger set of skilled traders may now be competing with them?
I'm long BTC, and while I buy on dips, I have yet to sell to take profits. I assume I might sell a portion of BTC at some level, but I'm certainly not knowledgeable to actively trade.
You don't know... until your luck runs out. |
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I love crashes! Bring it on!
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It really makes me want to take you seriously.
I don't need you. Less arrogant people who are capable of taking the presented model seriously can step in. I'm not sure such are using this forum any more though. Pot, meet kettle. |
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This rally being China-driven is very frustrating considering how volatile movement has been on Chinese exchanges... such thin market depth is really hard to read. I am worried about the virtually non-existent bid support.
If it is "China-driven", why are USD exchanges making new highs while CNY exchanges consolidate? |
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oda.krell, I hope you are long now. The drop that marked the end of the second sub-sub-wave of the second sub-wave of wave B was overturned by whales.
There should have been at least a 10$ drop, but the whales didn't wait for it to end and bought. That's on Gox.
I believe we are going to see the third sub-sub-wave of wave B, and only after that we go down.
Is that the TA formulation for "oops, I was wrong"? Because all I read is  Correct. Tzupy prefers blaming others to admitting he can't see the future. |
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I like to hope that the bears in this kind of market sustain enough losses that their power to irrationally drive it down is greatly diluted. I suppose corrections are natural, but it's nice to have a collective sense of confidence when the smart ones know it's going up no matter the short-term obstacles. I guess the new money have to get their coins from someone.
Bears will be burned, but remember that they are the only thing keeping this from overshooting too far to the upside. When we overshoot, we correct much harder and then the bears have a field day (or month, or year). |
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