Currently price is dropping because gox coins being dumped on the market.
No proof, just my opinion based on the price action.
Not enough volume. |
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I've come to the realization that doge now has 3% of the volume of that it had when I first started trading it and I should probably stop trading it until that changes.
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Dear Fellow Hodlers, I've just witnessed something dreadful that was about to happen to me, for I let myself fall into temptation, but the almighty Spirit of The Church of Hodlers saved me when I was about to fall off the cliff. The facts: a couple of hours ago I saw an altcoin whose value rose by 500% in the preceding few hours and was still growing. Immediately, the greed that is part of human nature made me visualize the "opportunity" of quickly increasing my Bitcoin assets of a certain percentage, even small, that's why I suddenly decided I would move all my BTC to the exchange and carefully monitor the situation so that I could re-convert the alt into BTC when the price would start to decrease. The very second after I was ready to start transferring my BTC to the exchange, the price literally collapsed. You can imagine my reaction. I was both terrified and thankful and I promised myself I would never get involved in such potentially fatal situations. The temptation of easy money is always behind the corner. But you must always keep yourself away from it and HODL!!!!! Once again someone is using their personal lack of skill in trading as a reason to justify that everyone should use a long term hold strategy. |
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  This is the first time that the "final capitulation phase" hitting the bottom at support levels did not result in an immediate mid term reversal breaking out of the major downtrend within 1 month. Instead, all of the indicators are back down. This is the first time the 1D MACD has gone down again before the 3D or any longer periods went up. Final capitulation has not occured - just a series of flashcrashes based on news events. |
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I don't need a bunch of news-related events and speculation to tell you that we're not going to 10,000. I simply need to take note of how the price trend has clearly diverged from that of previous cycles.
The poll is poorly worded. My opinion about the price trend has nothing to do with hackers.
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I opened a short on bfx at $610 to cover the coins I sent to btce. I don't feel like selling there for some reason. I might move them to cold storage.
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Adding 3 million dogs at 128
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if ripplescam.org is misrepresenting facts, and the official ripple site is omitting them, then where are users expected to get the info?
then some bloomberg guy will explain it to you the same way you learned about bitcoin... I don't think that's how most people here learned about Bitcoin.  yeah you learned through silkroad... so "underground" dude... What? I didn't say any of that. Point is they learned about Bitcoin by actually using it for a real product/service, doing real business, and fulfilling a real technological need where the technology was actually used - not a fantasy. Also, it started as a grassroots movement, with a community of technical people that were passionate about the technology, and didn't need to be promoted in the media. |
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if ripplescam.org is misrepresenting facts, and the official ripple site is omitting them, then where are users expected to get the info?
then some bloomberg guy will explain it to you the same way you learned about bitcoin... I don't think that's how most people here learned about Bitcoin. |
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At most times, speculation is 95% of the price and adoption is 5% of the price. Sometimes during the 'bear markets', adoption reaches as much as 10-15% of the price but speculation is still 80-85% of the price.
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What was wrong with the original model of ripple which was debt-based and didn't have a unit with a volatile value which could be pumped and dumped?
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... or something like that ... it confused me ... it started sounding like bogus to me and I quickly lost interest.
So, ok this is too complicated for you. It doesn't mean the technology behind ripple is not better than bitcoin... Damn , anyone who read what ripple is about and understand how it works ? I understood how the original ripple worked. XRP is what confused me and sounded like bogus. I didn't bother reading into 'XRP' that much. |
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Ripple is the worst currency I've ever seen.
You don't get it. Ripple is the most flexible payment network that has ever existed. The ONLY advantage of Bitcoin above Ripple is that Bitcoin is more spread actually, but it may change really really soon... The Ripple payment network was a great idea and I was enthusiastic about whether it would work in practice. Then the founders turned it into a get rich quick scheme by creating a currency (XRP, by many referred to as Ripple). This cured me of any form of belief in the people behind Ripple. The addition of a currency was and is completely unnecessary and even if the payment system take hold the value of the currency should approach zero. I hope someone retries to make Ripple as it was supposed to be and I'll be curious about the practical feasibility of a distributed trust/IOU network. Same. When I first read about ripple, it was presented as some type of network which kept track of how much debt each person was to each person, or to a group, or something like that. This was very intriguing to me. There was nothing about a currency unit. When I read about "XRP" it confused me. According to the previous model of "ripple" I had learned of, there would have been no 'coin' to pump and dump and take on a volatile value. I thought the whole point of ripple was that that the value of your debt was fixed in fiat (or whatever was paid) "I owe Sally 100 dollars" and there was no risk of volatility etc. So when I later learned about "XRP" and it's "trading value" it started sounding like bogus to me and I quickly lost interest. If I want a coin-based system I already have Bitcoin which is far superior as a coin-based system because it is decentralized, and the inconsistency of XRP with the previous model of Ripple which was presented made it seem like a pump and dump scam. |
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after watching the ltc swings i wonder why the hell i trade btc/usd. it all started with ltc for me btw. my first 500% of profit was ltc trading., maybe i should go back
Question (since you seem know your stuff)... how does LTC handle volume? I didn't trade any alts yet, always thinking 'probably too much slippage to be worth my while', but from what I can tell you don't trade in tiny volume either. Is it worth it? (I'm aware, asking another trader if he thinks I should trespass into his territory  ... just think of me as another pig that can be slaughtered) This is why I trade ltc on btc-e. btc-e is like mtgox for litecoin (when gox was still big). When I was trading last night (morning), the volume was: ltc/btc: 600,000LTC / 20,000BTC ltc/usd: 1,200,000LTC / 2,400,000USD So the total volume was about 1,800,000LTC. This is actually low for a litecoin rally day. On previous days, volume has been as high as 5 - 10 million LTC. That is why it crashed. |
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Can "hodl" be applied to Litecoin?
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I think bitcoin relies on a thriving high tech economy in order to have a high value. It's hard to see it being used as a barter tool during an apocalyptic scenario. < that is just dreams of bulls.
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I saw a 986 sell order on btcwisdom and thought I was still looking at ltc, but actually it's bitstamp.
yep it's still there on stamp..... there is bugger all liquidity tonight, its spooky. a big order like that could push us into the 500s if the bidding gets hot. He's probably not willing to sell it though.. Bored whale trying to manipulate. Won't take us more than ~610 at the most, I think. 1000btc actually isn't very many coins. It's 0.008% of the coins. There used to be dozens of these in play at a time on mtgox. It's not enough to theorize about someone trying to manipulate. |
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sold 200ltc @ .0313 ( a while ago)
bought 500ltc @ .03
sold 700ltc @ .0304
Now I'm out of my over-extended daytrading position and back into something I'm willing to hold for the daily charts.
you are holding short 700 LTCBTC?? very nice. That idea occurred to me in the rush fro $21-17.8, but I am focused on BTC. I think you will be well rewarded. No I'm not short. I'm trading on btce actually. At one point tonight I had 1450ltc. Now I only have 600LTC. |
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I saw a 986 sell order on btcwisdom and thought I was still looking at ltc, but actually it's bitstamp.
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sold 200ltc @ .0313 ( a while ago)
bought 500ltc @ .03
sold 700ltc @ .0304
Now I'm out of my over-extended daytrading position and back into something I'm willing to hold for the daily charts.
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