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I've only got 50% of the btc I should have at this stage because I can't shake this darn bear off my back. I see the evidence of a stable rally (well as stable as btc gets) in front of my own eyes but why do I not believe it? I see Chinese manipulation everywhere, and I think the association with p.com will be bad for btc (luckily imo mainstream media hasn't really picked up on it, but if anything else interesting happens it will be mentioned like silk rd used to be). I still think we will see sub 400 before Jan 31st deadline.
What is wrong with me? Someone slap some sense into me please.
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Meanwhile we have some movement on Gox.
p2pool looks very interesting and something we should all be involved in to help safeguard the integrity of btc. When I first found out about btc I assumed mining was similar to the old SETI program you could run in the background on your computer to help find ET life out there. I was pretty disappointed when I realised it took investment to participate effectively. I really liked the idea of it being able to withstand any kind of onslaught due to the multitude of miners all around the world. I suppose Satoshi didn't anticipate large dominant mining pools, pity something can't be written in so individual, solo miners could contribute in some meaningful way.
PS. I've got nothing at all against the big mining pools, we need them. I just think we need small independent miners too.
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Lol, was just writing that we've entered 2014 in a calm and stable way, hehe, I see Gox has just kicked off  Happy New Year everyone - let's make 2014 the year of the btc! Let the games begin!! |
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aaaaaaand we now have another coin.. is there an end to this?
What do you mean? |
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Gox been down 20 minutes? Trading been so slow recently I didn't even notice |
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With the Fortress investment trust being announced, I think we're preparing for a major market movement in the coming hours. I wrote this thread on Reddit (not sure how it is around these parts, I'm still new!) explaining my reasoning behind the huge # of bitcoin days destroyed and this ETF getting announced. This might be a very very interesting new years. Apparently they will be announcing it at a Bitcoin conference tonight which happens to be nextdoor to the NYSE stock exchange... http://www.reddit.com/r/Bitcoin/comments/1u4fc6/record_number_of_bitcoin_days_destroyed_and_10/This could explain the push that we've seen to $800, and some of the buy-orders that are starting to come through the exchange today. We're on a very defined uptrend right now... So, anyone actually know someone going to the party? |
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It's pretty funny really, people here still going on about what they would like to happen to btc, or what is good for btc - it seems to me that over the last few weeks that noble ship has sailed.
People buying now are purely speculators who couldn't care less about btc long term - this is a gold rush. Except it's one that can be shut down pretty quickly by regulation or other scenarios - so a high risk gold rush. Nothing more.
People here simply want others to buy more btc, so they can sell their btc for more, no-one gives a wotsit whether a single satoshi is ever spent or used in commerce. It's sad as it was such a good idea too.
Happy New Year!!
(may have had a glass or two of wine )
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Regarding US capital gains changes, I doubt many holders are looking to trade in dramatic fashion tomorrow to avoid the 2014 hike, but I'm not Nostradamus.
How much of a hike? |
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I've no doubt manipulation is going on, that's what happens when humans trade in something with no regulation. As a trader I need to be aware of it and profit from it when I can. It does make trading difficult atm though with such low volume because all it takes it ONE whale to sell a couple of hundred btc and all of a sudden we're crashing.
My biggest fear for btc in the very long term is not manipulation but the 173k btc the FBI have confiscated from the closing of Silk Rd. I understand Ulbricht has claimed the return of the btc, claiming that as virtual currency they cannot be forfeit as a proceed of crime, but seeing that judges confiscate anything of value in such cases he's on pretty thin ice. I believe these coins will eventually end up in the hands of the US government who will have far too much power - just think, 173k coins all sold on same day. It's a while off (I've no idea when this is coming to court or how the US government usually deal with liquidation of confiscated assets) but this is what we should be worried about.
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Mtgox: 500 Support @ $795
Things might get interesting.
It would be interesting to see it get dumped through, again. In fact Id get a real laugh if one of the whales just dumped through the whole book all the way to 400. I'll head to the whale temple. I'd love to push the button on something like that... the power... the 'I think I may just have a cup of tea before I unleash chaos, muahahaha'. |
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Too many bears convinced themselves sub 400 is coming so have stopped trading? (I'm one of them but tbh I know nothing and even if I went 100% btc it wouldn't make any difference to the market, but if there were 100 of me, well, that would make a difference - I would so love to be a bull again but can't at this level, my gut won't let me do it.)
Or more simply that everyone is enjoying the holidays?
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So little volume, where did everyone go?
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Stamp is the real market leader, even though it doesn't lead the movements immediatelty in real time, it is the fiat entry/exit portal which eventually controls where the price balances itself at.
-Gox: Does not have liquidity, and is mostly bots.
-China: Is becoming irrelevant and is probably entirely fake right now.
-Btce: Is mostly bots, traders, and trolls and has liquidity issues also.
-STAMP: Is where all the fiat enters and exits.
+1 (we really do need a 'like' or 'thanks' button on this forum) |
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The day that BTCChina disallows fiat withdrawals, I believe. Cheers Why would they want to do this? This would be the equivalent of completely shutting down their operations. well...yes... |
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Look at gox guys - hit 725
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Would be great if someone find out what Loaded is planing to do... He was/is buying btc in China for a while now... so is he going to sell them this weekend? Or he just has some info from manipulators in China? What will Loaded do with bunch of CNY locked in communist exchange ? He bought btc, he can sell them on any exchange he chooses. |
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Little sell off on gox?
Glad someone still watching the market |
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If nothing happens now today after what Loaded said I'll be gutted - It doesn't really matter to me whether it's a pump or dump, just please something spectacular happen while I've got all day to watch  |
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Why so much more volume on btc-e? Api's not working?
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You think China is anywhere near over, this will hang over us until end of Jan when the deadline for them getting their funds off exchanges hits.
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