good post.  ok, on topic: Here you can see the big buy wall at $50 that a large amount of people have put up in case the price drops while they are AFK. After reading the forums all day - and a lot of "old hand" at that - it seems $50 is the most talked about bottom. Perhaps a psychological sticking point if you will. This is my first attempt to read this chart publicly... Also, could someone please tell me what the green line represents exactly? when / if we drop down to 50's for good, everyone will be talking about 40$ being the bottom  the green line is the price moving up and down during the last 12h of trading. |
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looking back at the last 10 days we can clearly see the bubble popping and the first good attempt at catching the resulting knife.  you can see that when the bubble popped at ~266$ their was a big dip in price without much volume ( everyone let the knife fall ) but now at 80-50$ rang we are seeing HUGE volume spikes when their is any kind of movement up or down. I think if we are not already at bottom, its not too far down... |
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Back down we go. Below $50 tonight?
Well BTC70k have to be sold to do it this time, as opposed to the BTC20k that the crash stopped at. Wrong though. If it starts moving down, a lot of those orders will evaporate. Those popups on Bitcoinity are dangerous in manyways. its actually the other way around, there's more depth than is displayed on the chart. but keep dumping! < sarcasm > clearly there will be plenty of asks for everyone to buy back at bottom.... < /sarcasm > |
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given the nature & history of the bitcoin, I think all good speculators were expecting these wild swings. hopefully in 10 years time, bitcoin is trading in the 5,000-10,000$ range and the yearly swings are down to 30 - 50% in 50 years, bitcoin will be making new all time highs all day everyday and the sentiment will be that it simply will NEVER crash gaining 1-5% value per year with no end in sight. yup its going to get really boring when people are paying taxes in bitcoin...  |
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looks like a dead cat bounce ( we all know the cat is very much alive tho  ), i bought a small amount at 80 when it first got there, i'm looking forward to double down at 4x.xx$ and then get psychologically prepared to go all in the high 20's. yes i know i'm asking for miracles, but i really have no reason to buy more bitcoin unless the deals are that sweet... |
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its 4:00am people from the other side of the world are waking up to CHEEP ASS bitcoin, and i'm going to be a mess tomorrow at work!  bitcoin.... so who took out loans at 120$ / BTC and is now in DEEP shit? its to bad it had to end this way. |
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Yes.
sorry to hear that... I understand how easy it is to buy bitcoins on a high, when its your first time buying... i had to hold myself back many times from unloading my bank account into bitcoin for just a quick 50% after it went over 100$ wobber, just tuck it away for 5 or 10 years and don't stress it. If everything goes well you might actually be holding something valuable by then. That is, if speculative idiots don't crash BTC into the ground first.
+1 don't worry about it. hopefully you have some money left, and you can buy some more as it goes down so you can lower your avg price. ( this is what i did in 2011 ) |
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the bottom is in 2- 5 weeks, obviously we won't be dropping down at the same rate as we have been, but its not going to shoot up 100% just "Because Bitcoin" ( lol it might, but it will correct back down fast... )
the bear market will be short lived tho, try not to lose your cool....
look to accumulate slowly... very slowly!
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Its simply this, I am in it for the long term, for every peak I could pick, I would also be wrong.
So next time when I sell, thinking its a peak, and it does not come back, I will miss out.
So it's just not worth the effort/stress over a 10 year horizon to essentially get a zero sum game
Sure I could make 4x this time by selling at 250, but next time when I sell at 300 and it goes to 2000 and only comes back to 1200, same loss, to buy back in.
The only time I would sell BTC is to trade into other Cypto's, as I have committed a % strategy to cryptos, the only uncertainty is which one will win out or which group, and internally this strategy pays off. Also I may trade between crypto's, but no coming back to FIAT with cryptos probably ever, In any event more and more services will accept cryptos....
I mean do you get some one to transcribe your emails and send them in the post for the last bit of the journey, no you just email, and maybe use a printer.
I agree that simply buying in on dips and just holding long term means that you can actually enjoy the mayhem when price crashes like it has been ( hell thats what i'm doing ). trading is fun and profitable in the crazy bitcoin market, but is also quite stressful when BIG moves happen... as for litecoin.... i disagree, i strongly believe holding bitcoin will yield better returns long term... and ltc is even a little more of a risky speculative investment then bitcoin. I like to buy stocks in bitcoin companies like S.DICE and Virtex, these are real companies! their performance is not directly tied to bitcoin's price, but the shares are priced in bitcoin, this makes for a good very hedged against bitcoin bubbles popping! |
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No, not really. Y'all may wish to know I'm cashing out for now. Made half again trading since $90, and we seem to have broken the range into a downward trend. See you at $30.  |
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How long until you think it will rebound?
(As in can I get 10k from my bank in time tomorrow?)
it wont be "rebounding"... look around, this is clearly the death of bitcoin. |
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so what do you think the chance are the bitcoin will double in value in the next few weeks  The lower it goes, the higher the chance of it doubling! are you saying their no chance bitcoin will double in the next few weeks? are you saying its more likly that bitcoin will value will drop even further DOWN  |
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so what do you think the chances are that bitcoin will double in value in the next few weeks |
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4th is perfect for me.
I'll be there and try to bring some friends!
its official, it will be the 4th of may! |
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Keep us posted--if you're less than 50ish people and want a location downtown--feel free to PM but I'd host you guys at my place if you want.
Best,
Makksik
wow this might be really cool, i dont think we are a huge group, not sure if the guys from New Hampshire will come again. ( FOR SURE less then 50... i think ~7-14 people will show up) I'm sending out PM's to everyone in montreal tonight. watch the thread for updates. Thanks. |
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I'm putting together a bitcoin presentation. and would like some input.
How is this any different they paypal?
Why would any want to use bitcoin?
Why should i care?
How does accepting bitcion benefit to me?
Can my bitcoins be hacked?
...help me out by answering one of the questions?
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Revolutions require a crisis to take hold. It's the Shock Doctrine. When the current system collapses, there will be a stable system already in place to take over. In fact, open source in general will replace disaster capitalism.
the current system isn't going down without a fight.... youtube would have you believe the dollar is about to collapse and the world is about to implode. their is some truth to this, and the flaws of the current financial system are clearly being exposed, but it still works just fine, and it can continue to function indefinitely, as long as the people do not vote for change by buying into things like bitcoin, gold, silver... or wtv alternative system they chose to place their faith in, the current system will do just fine. False: the system will crash and burn and bitcoin will save the day! True: bitcoin will save the day and then the system will crash and burn. |
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