Small H&S (on 15min timescale) turned into a symmetrical triangle and that triangle has now been broken to the upside. Just need to penetrate the resistance line of the ascending channel now. If it does, I might purchase a bit more, will wait for a significant break though.

Only problem is that on the daily the price is going exponential, never a good sign, unless it turns into another large bubble and you GTFO at the right time.

This is absolutely the case with bitcoin. Bitcoin is damn tiny, it's like a flea on a elephant's (Total FOREX market) ass. Trading bitcoin is like trading a penny stock, may not move much for months but when it does massive moves are possible and people can get wiped out real easy. Bitcoin is an investment similar in a way to investing in Microsoft or Apple in 1979, do you believe in bitcoin's future of the world will work or not. If so buy for the long-term, if not just stay the fuck out and take you money and your time elsewhere.

I was luckily enough to experience the last bubble, and from about $300 I kept thinking this thing is overbought it's going to drop soon. But damn, Bitcoin is an amazing thing and certainly has the ability to keep on running. This is why I won't short it. If I want to trade I'll stick to FOREX far less risky - on the short side that is.

You can't predict where the price will go. you can only pick levels where there may be a change in direction. This means that, at this point, now is not the time to buy, but it is a good time to sell. If it keeps going up though the sell should be exited and then a buy position taken.

With TA, you're not looking for prediction of where the price will go, but rather at points which make sense to buy or sell (risk to reward ratio). if it goes in the right direction great, possibly even add to the trade. But if it goes against you switch sides.

Possible top reached at resistance line of ascending channel. if anyone was going to sell, now would offer the best risk to reward ratio. Sellers should definitely have stops in place though, because, if this thing does actually breakthrough I reckon it could hit 400-450 before a pullback. Personally I'm hoping for a breakthrough, and there is no way I will be selling my coins no matter what. see pic below:

The downtrend has been clearly broken since early May. We are currently in an ascending channel, resistance for this channel is at around 340. If there is a substantial break of this resistance expect the resistance to then become support. See following chart.



I would say that we are currently in a consolidation period, if we get a substantial break of 340 that could be the end of the consolidation and beginning of a new uptrend. Just have to wait and see.

btw, if a breakout occurs next resistance could be $450.

So I was having a bit of a look at the charts today and it looks as though we are in an ascending channel. The resistance line looks as though it will be hit at about 340, and technically this is where traders will sell at. I won't be selling, but am wondering if anyone here will consider selling at this level? Or do you think this channel is relevant at all?

Actually, I think that may just be a reply to his message. Cause on the left hand pane it says inbox and under his name it says Hi Gavin etc. The other emails are interesting too.

So it appears Satoshi hasn't disappeared after all. see 3rd pic in link below.

https://blogs.office.com/2015/08/12/new-outlook-partner-add-ins-and-expanded-rollout-of-outlook-com-preview/

Still sending emails from his gmx.com account and all. 

Kinda strange that Microsoft would use an example image like that one. Thought I'd just post it here for fun.

I suspect that he choose 21 million, rather than billion or trillion, for scarcity reasons. Millions is not that much these days but trillions is still a shitload, as far as early adoption goes, saying there is only 21 million, as opposed to 21 trillion, sounds a hell of a lot more enticing.

IMO I also don't think the unit of btc matters so much. I think everyone here focuses on the btc unit too much (e.g I have 10 btc, this thing costs 2 btc). Btc is a hedge against inflation and protection from government/banks. In my eyes, its much better to quote how much fiat value one has in bitcoin, not just the number of bitcoin. If we only ever talked about the fiat value, it would never be that confusing, and it would sound awesome too. For example, "I bought $1000 worth of bitcoin in 2011 and now it's worth $2.3 million" as opposed to "I bought 1000 bitcoin in 2011, I'm rich man." "yeah, cool man, how much are a thousand bitcoin?". No point using numbers of bitcoin when everyone is going to convert it to fiat for perspective anyway.

Same goes for gold. In my country there is a lottery where you can win gold. They don't say you'll win 10 ounces (boring) they say you'll win $10,000. Just makes more sense and sounds impressive.

I say never use btc amounts (or price things in btc) when talking to people, use the fiat amounts, that way decimal places don't matter.

Or maybe I'm just an idiot, I don't know.

Thanks guys you have given me much to consider. Linux on a USB is particularly intriguing (great idea for a portable computer). I do know of the Piper Printer, I can just do more myself for less cost.

I'll look into all your recommendations then get back to you if I have further questions. Thank you

Hi All,

I have just purchased a new Raspberry Pi in order to produce paper wallets. However, since these little computer are so awesome I would also like to play around with it for other uses, such as a media centre.

I realise for a paper wallet to be completely secure it has to made on a computer that has never, will never, be connected to the internet. I am wondering, if I use a specific SD card for the paper wallet (and never go online when using this card) and a different SD card for the media centre (but will go online with this one), will this mean that the raspberry pi will still be secure when switching to paper wallet use.

The Raspberry Pi has no onboard storage at all, not even for a BIOS, so I figure this might be able to be done, does anyone around here know if this scenario would be safe?

Thanks,