Wildcard would seem to be the possible unwinding of Chinese margin longs. I have read some pretty good analyses that call for as low as 650 based on comparison of BitMex margin longs (known) compared to Chinese margin longs (speculative).
How can "good analyses" on "speculative" numbers be of any use? |
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It's coming, are you ready?
agreed with previouse poster , what makes you so sure?  How can you do math when you can't even count? 1. rally to $1 2. rally to $32 3. rally to $266 4. first rally to $1200 5. second rally to $1200 If we do take off here, it will be a continuation of at least the 5th "bubble". |
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if we assume a government has "banned bitcoin traffic" ( not sure how feasible that is )
then we should limit blocksize such that we can smuggle blocks in and out of that country?
we need to keep blocksize such that it can be carried on some hypothetical "internet de la resistance"
idk... sounds nutty. https://en.wikipedia.org/wiki/Deep_packet_inspectionIf you wrap the protocol in SSL and run it on port 443 then it is indifferentiable from HTTPS. i think you have reason to want small blocks, but you have no good reason to not allow the network of nodes to determine what "small" is.
BU effectively limits block size to whatever the vast majority of nodes consider acceptable, and allows for nodes to continue to protest bigger block while staying synced and not forked.
let it go, you can't impose your view of bitcoin onto everyone else even if you believe "its for there own good"
you should however keep running core if you like the idea of segwit and static blocksize.
I don't know where you get the idea that I want to "impose" anything on anyone since I've been asking big blockers to make a block bigger than 1MB for ages. The two sides of this debate will never see eye to eye. A hard fork is the only solution where both sides end up happy. As soon as BU makes a block bigger than 1MB this debate will end. A hard fork will end the debate over the technical details, but it will start the debate about who gets to be called Bitcoin. That's where it will get really ugly. |
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China got to much power, the whole world is depending whats happening up there..When does Japan, India ore the West stepping in? No more fake volume, China Bans on a regular base, it's time for Bitcoin to grow up  I mean no offense, but I've seen this mistake several times lately. ore (noun) -> a naturally occurring solid material from which a metal or valuable mineral can be profitably extracted or (conjunction) -> used to link alternatives |
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I'll just keep making my weekly buys (and making a few small scalps every now an then). As long as we are above 1000 in a couple years, I'll be very happy.
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The lines on your 1 minute chart already broke. Big surprise. |
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Its really weird that the price behaves like this. I saw my wallet and the price is just moving around $910+. I notice that it hasn't move up or down for around 3 days.
It's pretty normal for the price to consolidate after a large move. It represents indecision about what the trend will be. It will break one way or the other soon enough. http://www.investopedia.com/terms/c/consolidation.asp |
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First sell off / bear trap. Return to normal will come much later.
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Despite the fact the correction was due, the media created some China bans bitcoin hysteria at exactly the same time as the correction. It most likely drove the price down further, and for longer than it would have done.
The first time the China bans bitcoin story was published in 2014 it undoubtedly caused a massive crash. This time it might not have caused the crash, but it put people off buying back in until they were sure it was bullshit.
Crashes cause news as people try to rationalize price action. News doesn't cause crashes. If price hadn't been falling, people would have taken the time to understand it was BS before they spread it. But they didn't because it was a narrative that fit what they were seeing in the markets. |
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Definitely. The question is... bulltrap or beartrap? |
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where could i find these btc charts?
cryptowat.ch bitcoinwisdom.com bitcoincharts.com bitcoinaverage.com But, based on your previous posts, my recommendation would be to pick a dollar (or whatever your local currency is) amount you can afford to lose and buy that much each week. Don't look at the charts other than on your purchase day for a year. By that time, you should have a decent position in the green and a better feel for how this market moves. Until then, just stick to a simple plan. |
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if only there was some kind of sign that the dumping was done and the cost was clear...
Could somebody please step in and officially declare this dump to be over? Would make my life much easier. lol You're good... Buy |
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Why don't we change the max coins to 7,000,000,000 so EVERYONE can have a Bitcoin?
That is how I feel about SegWit, block size increases, etc.
I am so sick of all the FEAR, people thinking Bitcoin won't scale or whatever. Just Leave it Alone already. If Bitcoin is flawed as is, then let it fail. If you think Bitcoin can be better with changes, then make your own Alt-coin.
It is working JUST FINE and has been for 8 YEARS.
More people = Slower confirmation times = HIGHER fees. This is GOOD for the Free Market and rewards Miners.
People will pay higher fees to get confirmed faster. Some people will be fine waiting 24 hours for a confirmation.
Just relax folks. You don't need instant dust transactions. There can be microwallets and altcoins for that.
Agreed - this is why altcoins can be useful, and shouldn't all be generalized as shit[coins]. While I want bitcoin to succeed, I'd love to see how big miners react if btc was suddenly destroyed  What would they even do? Imagine the rage...mass suicides...what would come of the mining farms? They would mine ltc or something else.... Their hardware is worthless for every altcoin except namecoin. |
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Call me crazy, but I think we consolidate here for 12 - 36 hours. Momentum is sapped for now. I took out a small short position @1150 with a trailing stop. Time to sleep. After the markets rest, we can start the FOMO.
Stopped out at 1082 for around a 10% gain. Too bad I didn't have the guts to leave it naked. |
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Why don't we change the max coins to 7,000,000,000 so EVERYONE can have a Bitcoin?
That is how I feel about SegWit, block size increases, etc.
I am so sick of all the FEAR, people thinking Bitcoin won't scale or whatever. Just Leave it Alone already. If Bitcoin is flawed as is, then let it fail. If you think Bitcoin can be better with changes, then make your own Alt-coin.
It is working JUST FINE and has been for 8 YEARS.
More people = Slower confirmation times = HIGHER fees. This is GOOD for the Free Market and rewards Miners.
People will pay higher fees to get confirmed faster. Some people will be fine waiting 24 hours for a confirmation.
Just relax folks. You don't need instant dust transactions. There can be microwallets and altcoins for that.
+1 I would be okay with a market determined blocksize (i.e. BicoinUnlimited), but I don't think it is necessary for bitcoin to succeed. However I feel it would be safe because miners won't make (or build on) blocks that don't pay enough to cover the long term storage costs. They aren't running a charity. A hard limit was only necessary initially because the cost of orphan risk was essentially nil. Now it is quite expensive to have your block rejected by your mining peers. More complex changes are too risky. If we blow up bitcoin, we may well lose our shot at gaining an honest monetary system. |
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Call me crazy, but I think we consolidate here for 12 - 36 hours. Momentum is sapped for now. I took out a small short position with a trailing stop. Time to sleep. After the markets rest, we can start the FOMO.
I hear you but tough call to say the Chinese honey badger is sated. I made the same call yesterday at the same time but turned out to just be badger nap time. China shows 3 pushes to new highs with declining momentum each time (over the past 12 hours, easiest to see on 15 minute charts). It just made a similar 3 push move on smaller time frames ending in a double top around the psychological barrier of 8888. It's already starting to turn down. If I'm wrong, I lose what I made with long positions tonight. If I'm right, I can double or triple what I made. Either way, the vast majority of my stash is safe and sound. Good night and good luck  |
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Call me crazy, but I think we consolidate here for 12 - 36 hours. Momentum is sapped for now. I took out a small short position @1150 with a trailing stop. Time to sleep. After the markets rest, we can start the FOMO.
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I smell conspiracy. Naked short selling at Stamp to hold down price? They are Coinbase's main exchange, amiright?
Nope. Coinbase has their own exchange now: https://gdax.com |
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8,800 Incoming... I said it before, and say it again:
Indicators are meaningless when the Chinese are just printing fiat money infinitely. You have to keep in mind the Chinese have been printing unlimited amounts of fiat at a faster pace than anyone else, but try to prevent it from leaving the country on the official fiat money exchange rates. They will try to maintain a fiat exchange rate fix as long as possible, so they maintain purchasing power, but it is really just like Monopoly money to them. Bitcoin/crypto may be a way of escape.
8,800? I mean why not right?
Might as well go for 8888.  |
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8,800 Incoming... I said it before, and say it again:
Indicators are meaningless when the Chinese are just printing fiat money infinitely. You have to keep in mind the Chinese have been printing unlimited amounts of fiat at a faster pace than anyone else, but try to prevent it from leaving the country on the official fiat money exchange rates. They will try to maintain a fiat exchange rate fix as long as possible, so they maintain purchasing power, but it is really just like Monopoly money to them. Bitcoin/crypto may be a way of escape.
8,800? I mean why not right?
Might as well go for 8888. |
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