Chessnut and i met first in a secret whale encounter. Dark rituals have been held.
I cannot say more about him, because i fear the consequences.
Fonzie!! you made an oath NEVER to reveal the secret whale encounter!! you will pay for this! |
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Exactly. China banned Bitcoin 10 already and every single time the idiots panic sell.
It's true, every time they panic sell, but the effect on price does not compound. the first round of news took us down to 465. and that's just where we are now. |
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chessnut is a whale and shill, who´s slowly tryin to unload his coins.
He´s tryin hard to keep the hopes high and convertin people to send fresh money to Stamp and build up buy walls
until he crashes them.
Lol you flatter me fonzie.... but I thought you where a whale trying to get cheap coins? |
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Btc is worth $10k alone on notary.. now add other use cases.. speculative is a special word here.
in theory, it has huge intrinsic value. but it needs the infrastructure, which it doesn't have right now. I cant think of a single use of bitcoin that can support a price of more than, say, $50 today. speculators exiting the market would crush that price support. Common Chestnut... YOU are converting into a bear too? We really must be due for a turn around any time soon.. Maybe you should call us remaining quasi-bulls a few names too and threaten us? he he he  NO IM NOT! LOL! I got bull fever baby! I said just a bit earlier, I was discussing a hypothetical bear situation with TERA. I dont believe that this is the case however. |
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Does anyone honestly think that no more bad news will come out of China?
Do you honestly think it will make any difference? what are they going to do, confirm the confirmation? |
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How long before the next news from China(bank account ban) are official will whales start to sale? 1-2 hours?
Nope. It's holiday in China today, and they are going to sleep soon. you will be squeezed before the next announcement. |
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Currently, there is NO real replacement for bitcoin, and Bitcoin is NOT going to zero any time in the next couple years.. absent some major bug... The mere fact that there may be some issues with China and some other countries interfering with bitcoin will not be enough to push bitcoin down that much.. and.. even in these bearish case scenarios.. maybe we will get some downward trajectory for a more extended period.. but we gotta have some real additional negative news to really drive BTC down into sustainable double digits territory... .... ..
Anyhow, those very negative bearish scenarios seem way too speculative given the current strength of the network building and various strength of bitcoin fundamentals and also the fact that some governments, including the US government have NOT really yet gone on any kind of meaningful attack on bitcoin.. yet....
I agree 100%, though I was discussing a hypothetical bear scenario. "what if the price is a MtGox hoax" but it's not. The chinese pushed the price to a genuine high. |
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holy shit boys....500 BTC sell wall on BFX eaten!
Keep walkin' bears. nothing to see here! |
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Price will slowly grind down and never ever recover again. 1000$ was just a hoax.
Ohk hmm guess I should sell then. thanks for tip.  |
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Btc is worth $10k alone on notary.. now add other use cases.. speculative is a special word here.
in theory, it has huge intrinsic value. but it needs the infrastructure, which it doesn't have right now. I cant think of a single use of bitcoin that can support a price of more than, say, $50 today. speculators exiting the market would crush that price support. All speculators exiting at the same time would require that everyone recognizes at the same time that bitcoin has no value whatsoever. Of course 50 USD would be crushed. The probability of that happening right now is close to 0. Millions of USD are being invested by angel investors in the infrastructure right now, hundreds of ATM are being planned and installed. The money is not going in the bitcoin for now but in its infrastructure. When bitcoin price is going up, it increases the relative return on capital on companies and infrastructure investment as compared to direct bitcoin investment. Which means more interesting to invest in infrastructure. As the money is going to infrastructure, it is not going in BTC anymore which is depressing the price while investments are being made in infrastructure (current situation). The last bull run has triggered massive investment decisions in the startups and infrastructure. This money is going "in" bitcoin but not affecting the BTC price. Yet. I 100% agree with you MahaRamana. I was just discussing possible bear scenarios earlier. |
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hidden sell order on Bitfinex  @457. |
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Btc is worth $10k alone on notary.. now add other use cases.. speculative is a special word here.
in theory, it has huge intrinsic value. but it needs the infrastructure, which it doesn't have right now. I cant think of a single use of bitcoin that can support a price of more than, say, $50 today. speculators exiting the market would crush that price support. |
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  we may have a stand off on our hands with this wedge. any move through 3000Y would be significant. looking for signs of failure too. |
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Why are there only two cases and why do you believe that a downwards move from here is the end of bitcoin? It could very well recover in some years time.
I said - the speculative weight will bring it down. all the capital is speculative. 99%. if this asset is not performing in 6 months time, the crash will self perpetuate to zero. by then investors could afford to replace it with a new coin. google could pounce on the opportunity, for example. Ripple (although inferior) might hold the fort until bitcoin is dead. |
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Everyone thinks we're due for a rally now and most people's reasoning includes that there has been a rally every 9 months. "It has happened 4 times, and now it will happen again", right? Well, if you look at a one week candle chart, and you look at the rsi, you will see a divergence in this last rally, indicating that the trend is over. This could be seen all the way back in December.
... It could be that bitcoin is coming to it's end. I think there are two fundamental arguments here. - bearish case bitcoin prices are artificially high (MtGox) and nobody is really interested => the price will fall. If the base infrastructure cant develop fast enough to save it, the speculative weight will kill it for good. This will likely be decided in 6 months time or so. - bullish case. chinese demand drove the market to genuine highs. The ban on third party deposits is thus a very short term problem because it takes insignificant funds to reach fresh ATHs and infrastructure is evidently developing at an exponential rate outside of china. Exchanges and investment vehicles opening in Europe and USA will thus easily support and drive the price to new ATH in the next 6 months. Investors will not allow each other to let the price fall too far in this case. I think the bullish case is true. bears are running out of time quickly before a nice surprise comes along. |
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It's just a dead cat bounce off of a major support level and the fact that it's spent so much time so low against this support level with such low volume is not bullish at all.
Bitcoin is not a dead cat. It can come to life at any moment. One player can corner this market if they wish, and buying into disaster is strategically sound for all large investors. It was just a few weeks ago that investors representing 250 Billion worth of capital met to discuss investing. they could put the chinese out of their misery pretty smartly. Low volume does not indicate trend. but when the bidding is up on low volume, it is certainly not bearish. Im honestly not calling for 'the' low but I think it's a great price to buy and a terrible time to be short. Im also really sorry if you let go of your short last week, but here we are at 460, I stand by what I say. Im not trying to convince anyone as such but inevitably we come here to share ideas and discuss. |
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Would you give up trying to convince everyone that this is the bottom and the reversal is about to happen to a new ATH you clowns. You know very well from these charts that the odds are we are going down even further, below 400, but you're angry because you're stuck in your stubborn HODL position. I guess HODL isn't so glorious now, is it.
... The market has been flat for 9 days despite 'utter disaster', something I expected.... and I assure you, HODL is better than shotr right now. this 'trend' is very vulnerable to a spike into the upper 500s, and 400 is growing stronger every day. we are in territory for a reversal. I dont see why the odds are that we are going down. Im not going to put too much faith in your macd. and this is not a trend as such, it is a correction. |
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Oh dear, bitfinex walls are gone in a flash. who could have seen that coming? lol
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 this is a possibility. bidders are still bidding up the support, wedges resolve in continuation.... maybe not time to short.... not yet anyway. |
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1k sell wall at bitfinex.... lets see how long that lasts.
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