It's amazing that we're in a bear BTC market and the BTC loan rate is only 4%.
Yeah, I don't get that either. I am thinking it 'll go higher eventually.. |
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Funny you should ask.
People should keep in mind that this is just a indicator. It isn't some kind of law which always applies. You should trade on news and data instead of this stuff. I disagree, you should trade on this stuff, then adapt your strategy according to incoming news. |
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 GG, campBx now at $0.00 Someone dumped 2k coins there all the way to 0. Poor guy probably thought there was more depth. Auch ! Well, at least he made some other people very happy.... |
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So they're bailing out ... now ... that should really help with confidence  You misread. http://blogs.wsj.com/moneybeat/2013/07/01/winklevoss-twins-file-to-launch-bitcoin-exchange-traded-product/ They are not "bailing out," they are offering shares of an ETF based on bitcoins. Not quite the same thing. In fact this is good for bitcoin as it could attract more institutional investors who want to be able to participate in Bitcoin on traditional markets. This is something they can understand and trust. Good old winkii twins; they've got our back. Depends on whether they intend to buy new bitcoins with the proceeds. If not, its an ask of 200k bitcoins. If yes, then indeed, this might be something big investors are interested in, and it could increase money coming into bitcoin. |
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Holy fuck-a-doodle-doo. Did we need a reason for a sell-off? |
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Currency is an investment, why else have it?
Currency is a tool to make transactions replacing the old Barter system. This is why all currencies moved off of the gold standard a long time ago. The more I watch these swings, the more I realize we need inflation. I think you are confusing inflation with volatility. My point is that inflation reduces volatility because it keeps the price of the currency at its lowest economically driven price. It gets rid of speculators and allows the real economy enjoy price stability. Maybe this post is more for the economics forum, but hey... If bitcoin would get as big as USD, and supply chains were completely payable in BTC, then volatility would be greatly reduced. I can see a decreased incentive in lending for a deflationary currency (making only projects with a high expected return economically viable for lending), so maybe the economy would suffer from that. On the other hand, people could save without being worried about counterparty risk or depreciation risk and could get actual productive stuff done with their time instead of having to speculate to make their savings keep their purchasing power. Truth is we don't know what a bitcoin economy would look like. I guess the gold standard comes closest. Was the economy under the gold standard that much worse? Maybe the past few decades were better, but was that not at the cost of increasing the risk for a systemic collapse? (I am truly asking) |
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People who are refusing to deal with altcoins, specially when Bitcoin is in trouble are dumb IMO. There are so many of them if you catch 10% of pumps you'll be good as much as Bitcoin is failing.
And why couldn't altcoins fall just as hard or harder than bitcoin (just like silver tends to fall faster than gold on the way down)? Just because they might not have done that so far, doesn't mean they won't in the future. You seem to be assuming that altcoins will take up a larger market share for sure. Excuse me but why stay for long there? Trading is our hobby here isn't it? I am not sure what you mean. Are you saying you are just buying to sell to a greater fool? I trade - I don't see fools or smart guys. I ride the wave hoping I won't get buried in it... I meant fool in this way: http://en.wikipedia.org/wiki/Greater_fool_theoryI am fine with trading, but only if I see the fundamental value in the underlying asset. |
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People who are refusing to deal with altcoins, specially when Bitcoin is in trouble are dumb IMO. There are so many of them if you catch 10% of pumps you'll be good as much as Bitcoin is failing.
And why couldn't altcoins fall just as hard or harder than bitcoin (just like silver tends to fall faster than gold on the way down)? Just because they might not have done that so far, doesn't mean they won't in the future. You seem to be assuming that altcoins will take up a larger market share for sure. Excuse me but why stay for long there? Trading is our hobby here isn't it? I am not sure what you mean. Are you saying you are just buying to sell to a greater fool? |
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People who are refusing to deal with altcoins, specially when Bitcoin is in trouble are dumb IMO. There are so many of them if you catch 10% of pumps you'll be good as much as Bitcoin is failing.
And why couldn't altcoins fall just as hard or harder than bitcoin (just like silver tends to fall faster than gold on the way down)? Just because they might not have done that so far, doesn't mean they won't in the future. You seem to be assuming that altcoins will take up a larger market share for sure. |
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Currency is an investment, why else have it?
Currency is a tool to make transactions replacing the old Barter system. This is why all currencies moved off of the gold standard a long time ago. The more I watch these swings, the more I realize we need inflation. I think you are confusing inflation with volatility. |
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Why didn't ! sell at $265!?
The reason it went up so hugely is because so few of us sold at that time. People that sell after making a decent profit sold long before $ 265. I mean, this bubble started at $10, if you are still holding after price goes x20, then chances are good you are still holding at x26 ... I was actually planning on selling a large chunk of my coins the following week (based on media attention), but bubble popped sooner than I thought, probably everybody was thinking the same... Yes, excatly. I need to remember this. I bought at $10. My brother was laughing at me for not selling at $200+, but then I reminded him that he told me to sell at $49 a few months ago! Had I listened to him I wouldn't even be hold at $92 now! I DID sell 50 coins at $200 but that was just a small drop in the bucket. Well, then I guess I am roughly of in the same boat as you, I bought in slightly higher, sold a few of my coins at EUR 165. Obviously, I should have sold a-helluva-lot more, and could have traded way better, but overall I am content with the outcome  . |
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Well, I understand we all want to make our bitcoin positions better but it's still sad to see what we've became.. we supposedly want bitcoin to be mass adapted yet we are happy it's crashing and people losing belief in it.. Greed is some bad bastard, it could break our heads at some time  The problem is that since there is a fixed amount of BTC, it incentivizes people to hoard it. Which then causes them to panic dump it when the price falls. What we need is a cryptocurrency with enough inflation to deincentive saving (hording). Go buy Freicoin then. I won't be joining you since I don't like to buy depriciating assets... |
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We definitely won't see triple digits again in the next week.
In the next year? No doubt. Why are we so quick to assume that the downtrend will last the exact same length of time as the 2011/2012 downtrend? Wouldn't it happen faster with more awareness and more investors, and several orders of magnitude more infrastructure? I don't see this downtrend lasting into 2014, that's just clueless extrapolation and graph comparison. "OMG, this downtrend will last into 2014, for no other reason than that's how long the 2011/2012 downtrend lasted! No chance it will actually run its course much quicker...."
I think it will last longer (barring some catastrophe in a major currency/bond, which is of course a real possibility these days). Guess we'll have to see in 2014 who is right (Still a long-term bull though). |
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Why didn't ! sell at $265!?
The reason it went up so hugely is because so few of us sold at that time. People that sell after making a decent profit sold long before $ 265. I mean, this bubble started at $10, if you are still holding after price goes x20, then chances are good you are still holding at x26 ... I was actually planning on selling a large chunk of my coins the following week (based on media attention), but bubble popped sooner than I thought, probably everybody was thinking the same... |
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My guess is that we are in July or August 2011. Back in 2011, going from 32 to 10 was a huge panic sell, that was the bubble burst, which is equivalent to 266 to 50. The final panic selling that resulted in the $2 bottom happened 6 months later. That's the end of the bubble which inverts and people undervalue Bitcoin.
You can make the case for 50 being the new 2 of course.
My guess is that the decline will take longer than 6 months this time. |
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Well.... Someone has a nice summer now i guess.
its me and im on vacation already   |
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Big dump, somebody trying to do some technical damage here I guess (or feared another dump and wants to be ahead of the other guys)
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Get ready ... weeeeee  dat funny too  . Thanks for the laugh ! |
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Anyone else think that 90 is a psychological barrier that people well start panic selling at?
Yup |
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I have to agree with the bearish sentiment, it looks like the floor is going to drop out under this thing.
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