Silly how that little Piper receipt is worth more to me than a nicely printed 100$ bill. Shame how the 100$ bill is worthless though.
$100 bill is worthless? not worth much, but it'll buy me a couple dinners. if you're comparing the paper wallet to $100, how much BTC is on it? i'll tell you which has more purchasing power.  |
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OP: what is this, like, your fifth thread, trying to convince people to buy and hold? okay, have a nice two years. there are plenty around here to carry on your message, i assure you.  |
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*sniff, sniff* what's that i smell? is it fear? yes it is. you've gone this far, so if you find yourself accepting this logic, just make sure you HODL if we get down to 300 or 250 or 100. the problem with denial and fear is that when the pain becomes unbearable, you end up selling at the bottom.
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looking at the drop in longs, i would lean towards many positions stopped out if they weren't liquidated. he's pretty vague about stops, and people on TV were saying they got stopped out at the bottom (surprise, surprise  ). but it does look like the selloff coins were held on margin. clearly much of the coins sold were leveraged long. my guess is the distribution in base cost is weighted to the upside.... |
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It's sad and annoying to see that this big drop wasn't enough for some people. They try to push us further down.
If it's up to these idiots they'd take us down to 10 dollars. They don't care if they destroy the whole Bitcoin economy in the process.
There is no reason to sell anymore at the moment. Those who wanted to sell did so already. The pressure is gone.
This is pure manipulation and idiot sheep following, afraid of another crash.
i'd like to think that, but i've been staring at charts for much longer than i'd like to admit, everyday, for months. and i saw the manipulators pushing down months ago. massive sells into massive support that repeatedly would not budge. until the bulls gave way. i don't see that now. what i see is 1) those whales are not stepping in and rebuying yet, and 2) there are no buyers at the current level. when the whales decide to step in, expect panic buying to ensue very quickly. |
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Ignoring the huge amount of spam on this thread, I would say that the price drop has something to do with bitfinex's recent policy change that allows them to change the max amount of leverage based on market volatility. This probably caused somewhat of an initial selloff, which caused some people to get a margin call, which caused more of a sell off and so on. I have read that the prices on bitfinex were somewhat lower then other exchanges for much of the time as prices were falling quickly.
don't think that happened. if you were watching bitcoinwisdom at the time, you would have seen a single 5000+ sell. that caused the margin call cascade. it had nothing to do with a policy change..... it's called preserving capital...... |
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It's stupid. But you might win the bet. $525 is the resistance point we need to clear before we are out of trouble.
There are no "resistance" or "support" lines. Only morons on message boards citing arbitrary numbers as such. Markets do somewhat have resistance and support levels however trade in bitcoin is generally too new to truly have these kinds of levels and the numbers that are quoted on these forums are generally pulled out of thin air and do not have any real data behind them. the quality of the data and backtesting would depend on the time frame you are looking at. even on a daily chart, i think 3-4 years of data would be enough to establish reliable support and resistance levels. certainly on lower time frames. do you have any statistical basis for this? |
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Begging forgiveness for the newb question which has probably been answered a million times:
How can bitfinex collect on the loans? What enforcement power do they have?
enforcement power? the fact is that you are but an entry on a ledger to them. (without implying anything about fractional reserve ) now, if you want to talk about usury law, i could foresee some legal issues (without knowing the details), but the question is, who is regulating them, and would anyone do anything about it? still the wild west here! |
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i can now just wait and watch for a strong bull reversal.
That's the sprit we need, dude! We need more buyers for this bull trap. C'mon dude, buy more! Give yourself a push, you surely have some fiat on the sidelines! read over what i said. i am waiting in fiat and not bottom fishing. i'll let others catch the knives, i don't need to catch the bottom. |
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someone has guesstimated the "real cascade" would start at $450.
we really have no idea. since we have no idea what level of margin leveraged longs are using. i, for example, don't leverage long but do leverage short -- but at never more than 1:1 or so. lots of assumptions around here that people by and large went full margin. that's a dumb assumption. |
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Also remember there is some thread on here telling us how btc gravitates towards $666, so we will be ok.
tell that to all of those that bought at $680 and above.... all the way up past $1000 and beyond. yes, long term prospects always look good, though. but it's gotta be rough holding through these kind of painful down trends. |
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How you guys liking that whipsaw action, weeehawww!  what, $10 up from the bottom? only a whipsaw if you panic sell at the bottom.  for me, i can now just wait and watch for a strong bull reversal. got a good cushion between here and my sells. |
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Not gonna lie. Looked pretty clear that someone was just buying their own asks on Huobi. I'd love to see some up here, but with this kind of pump action and nobody following, it doesn't look all that good....
We will go down soon again. Just like the previous 30 times. It's sad that this whale buying doesn't even excite me anymore. In a few hours from now you wouldn't even know it happened. except that all the people who weren't watching at the time will see the big green volume bars and think, whales are buying! but i agree, bitcoin is a yawn these days. |
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i'm not convinced that we've broken the down trend yet, but i do think we still have one more leg up to make on this rally. maybe 605-610. but like everyone else, i'm just guessing.  |
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added the sig. would like to join. one question --- i dont really understand from the OP how to renew for the next month. do we just sign up again in this thread a month later and repost post count/btc address?
Full Member
Posts: 126
BTC:
1FcqR6EfQ9cMeSdybcaVPxWm2FHkmMisxW
received and signing up for another round. posts: 179 hi, i received payment for last month. please sign me up again. thanks. posts: 230 |
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Damn that's awesome dude. I want to wake up one day and get a random 0.01 in my wallet or something haha.
Did u even read my last post, THEY STOLE IT BACK along with another $2 thats not cool it suxs. they stole it back? so it was never actually in a wallet you controlled. it was only in your account at their website or something. well, you know what they say about not controlling the private keys -- you don't own any coins. |
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why pay a miner fee? well, miners could send millions of dollars for you for mere pennies. try doing that using a bank/financial institution! there's got to be some incentive for miners to include your transactions.
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nothing is risk-free -- lending, for instance. you could also lend for margin traders on Bitfinex, but interest pay is pretty low. you could try your hand at altcoin speculation.
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i'd hate to be limited to a phone with bitcoin. if i were, i'd try to have a separate phone for apps, and never download anything onto the phone holding the wallet. too many apps out to get your coins.  |
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uh, cool i guess. although, it reminds me more of the Boston Red Sox "B" than anything to do with BTC. but maybe that's just me. |
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