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Interesting to see big media defending the government here. The whole Prism thing really has them on their heels.
I now wonder if Snowden becomes the straw that broke the camels back for others wanting to blow the whistle.
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First, I love the Plan B podcast.
But I guess I will be the dissenting voice here, but that shirt makes Bitcoin seem all about money and I think that is totally the wrong idea. I would think there is a simple visual way that we could capture more of what Bitcoin does.
Just my .02
IAS
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Hi, I just upgraded some components of the website, please hit Ctrl+R or F5. There are two changes for the users : - 2-weeks view has been replaced with a 1-month view
- automatic refresh delay has been decreased from 6 to 5 seconds
Other changes are behind the scenes and should slightly improve your experience  Expect another update this week-end, comments and ideas are welcome ! Great job, keep it up! But I was refreshing when you did that! (Really)  |
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And it appears the current chart is still in an uptrend, supported by the 100ema (or sma).
Weird, I was sure we dipped below the 100 ema. Edit:  Meh, bottoms of candles bounced off it. Looks like support from where I sit. Exactly, but the thing to worry about is the 100ema starting to flatline. I don't like that. I don't like the low volume. I don't like the variety of opinions regarding the price. LOL Really, like Rampion said it has gotten bearish on the wall thread. And I can see what others have said in that people are waiting to buy in at "better prices". A lot of those people are just guys on the street (some that I talk to that want in, but not at this price.) The scary thing that all bears and bulls know is it just takes one big trader to get things going. I think it is a lot easier to manipulate the price down as there are guys with tons of shares, but you never know when support comes in. We don't know what is on the sides and NOT in the order book that is just sitting and waiting for cheaper coins (not cheap coins). I mean is it crazy to think that VC's who are investing millions into Bitcoin are also giving it some support? This supports their investment in a way. A bit analogous to how a company hires developers to support the infrastructure of an open source piece of software (e.g. bitcoin, linux, etc.) by hiring developers to just build up the infrastructure (outside the company's products.) |
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Again today, the market depth is looking better at Gox. As I've said before I just follow basically what the bitcoinchannel.com guys says. The buy numbers are improving, the sells are decreasing and some key numbers that I follow are slowly improving. I have my finger on the trigger to sell some just in case we make that next down move, but as of now, it's not looking bad (The low volume as usual scares me a bit.) Watch that 100day ema. We are so oversold that I don't think we drop yet, but with the volume so low a large sell can probably trigger things like the weekend sell did IF a big buyer doesn't come back in.  |
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Just thought I would introduce myself, since I haven't been on this forum very long, although I have been reading it for the last several thousand posts.
I'm in Australia (but not Australian), I heard about bitcoins through traditional media back in April. It sparked my interest but I was too busy to be able to allocate any significant time to investigating further. I speculatively bought in at the beginning of May when price was £60 (sorry, I trade in GBP), having just missed £50. Watched price go up to £87 at the end of May, didn't sell (regretfully) and then watched it drop to £70, at which point I cashed out. Made a tidy profit (almost entirely by luck) but not as much as it could have been, but that's trading for you.
I'm a trader by day job (commodities, FOREX) and so I was very interested to see what was happening with bitcoin. Some observations that I thought I'd share with you, primarily to give you an insight into the perspective of a non-mining, non-IT guy with little knowledge of bitcoin but extensive knowledge of traditional markets (and these are the probbaly the same type of guys who are currently manipulating the bitcoin value):
* bitcoin can be compared to neither commodities nor fiat currency at this stage. It doesn't have the trading volume to be considered a currency (you can't get in and out quickly and you can't use leverage) and it doesn't have a substantial supply/demand market, nor a real 'use' (yet) to be considered comparable to a commodity
* as such, drawing any kind of line on a chart is utterly pointless, since the usual 'rules' (which are dubious in any case) certainly won't apply here. Even more so considering that past history (pre-April, say) did not include many traders such as myself. Now it does, so previous trends can be ignored since we now have a lot of price manipulation going on
* price movements are currently being caused entirely by speculation (or 99% at least)
* steady, sustainable price growth will only occur with a much higher volume of trades and with mass adoption
* the volatility of the price is what has attracted day/short term traders
* the illiquidity of the market is what has caused fiat to leave in recent weeks (this was my reason, it became too difficult to capitalise on price fluctuations unless they were arounf 5% due to lack of bid volume)
So, my conclusion (as unhelpful as it is) is that nobody can predict the price of bitcoin since it does not follow any traditional rules. As such, you can dive in and then jump out again, over a period of time, with a 50/50 chance of making a gain. Unless you have a very large holding through which you can temporarily manipulate the price.
I'm currently 100% fiat again, looking for a suitable price to buy back in (very speculatively, I'm looking at something around USD52, since I think USD50 will be a psychological trigger with mass-buy in, that will see the beginning of a steady, sustainable, non-bubbled climb)
Having said all this, the more I learn about bitcoin, the more I think that it has fantastic potential. However, you simply can't allow emotion to influence your position. Anyone who is trading based on the "bitcoin ideology" is, frankly, exceptionally foolish. Holding some bitcoins that you can afford to lose, in the hope that a bitcoin will be worth $1k in a few years, is fine. Holding some bitcoins that you can't afford to lose, in the hope that a bitcoin will be worth $1k in a few years, is absurd.
I appreciate that posters get shot down for all sorts of reasons here but I'm just sharing with you what I believe, based on my experience of traditional trading. I don't know anything about mining, bitcoin history or the current or future impact of Silk Road, and as a trader nor am I really that interested. Hope it helps and more than happy to discuss further.
And a final thing - should I make Jaroslaw my first ignoree?!
Appreciated post and welcome. I tend to agree with most that you said. In particular we have to be careful with TA and BTC, in can turn on a dime for no reason. Can't comment on Jaroslaw. I have never ignored a poster as I think there is occasionally truth in the false, so I don't like to filter information. Though, at times, it certainly gets tough ;-) |
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I'd recommend you edit your post for security reasons. Just some friendly advice.
You just quoted his entire post, how is he supposed to edit that away? ehehhehe - Great point. I think he meant to add "I'm not editing if you're not editing!" |
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Bearish triangle closing very soon. Up or down?
I say down, but I don't discard breaking $110 for a while before the crash to double digits. I speculated a bit between yesterday and today, bought at 77€ and sold between 81.22€ and 81.77€ during last night and this morning. Volume very low, not easy at all to trade +150BTC ATM avoiding slippage.
Again with this low volume. That worries me, in particular after a bounce. One would expect some kind of continuation. Watching that 100ema closely. Nice to see Rpietila here posting again. Seriously are you doing things in mBTC now, because your prediction was 300k this year, not it's 300 next year. No problem with a year push, but with a movement of decimal places there is a problem! |
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Newbie trader here. Would like some trading tips. I see consolidation is happening right around $105.00-$106.00 area for the past few hours. Usually does this mean it will break out upward after or will it drop? Thanks in advance.
Be careful, they will tell you the opposite they think is going to happen to take your money I'll give you both scenarios. If the stock remains on 105-106 for the whole week, expect a drop to ~$80 again. if there's a move up in the price, it'll happen during the week, if not, brace yourselves.... If the stock remains right around $105-$106 why would you expect a drop? Because some sellers need to sell every week at whatever price.. ..and they are forced to do this on the weekends. It's the behavior I have observed lately. Weekend dips are almost a norm, and stability during the week without any bullish behavior results in big drops on weekends. Sure, feel free to troll all you want, We'll talk on Monday "Weekend Dip" is being kind. When someone sells large volume on a Sat/Sun the pice comes down. That has happened on two consecutive weekends and is at the root of the current downtrend. Not saying we wouldn't have gone down during the week either, but it certainly is interesting time to put in large sell orders not only on the weekend but at off hours. |
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Man, panic buying going on. As soon as it hits 120, I'm shorting like crazy...
apparently manipulators want the price to keep high for a wile.. the drop will be massive. .. we might hit real bottom this time there's not enough bying power yet to turn trend imho. been watching orderbook .. the real buy power isnt there yet.. but it's definately bigger as last weeks.. even when i'm having a little loss.. i rather have moving volumes then boring trading as last weeks.. so i can correct my mistakes +1 The increase in volume is mainly due to traders scalping on higher volatility with some isolated big buys and lemmings following. The trend is still downward currently. +2 unfortunately, I don't see a bullish market now. despite some efforts It's sad that the price tends to move down... The big buys were isolated efforts from big buyers but I don't see collective push towards the 110's yet... if this week stays in the 105 range, next weekend will be devastating...  I didn't like the low volume that led up the the fall. But, what about us sitting on the 100day ema? If the low volume returns then your words need heeding. |
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 Aligned with beginning of run-up, not peak And it appears the current chart is still in an uptrend, supported by the 100ema (or sma). |
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Market Dept on Magic of the Gathering Xchange is looking MUCH MUCH BETTER. I am no longer worried about a continued down turn here. The buys have really picked up and are actually matching sells within +- $5 at this range. Showing some support. All the things that the bitcoinchannel.com goes over I just checked and it's looking pretty good. Glad I didn't sell any today. Brother Rampion had me worried  But I am still watching closely!!! Also, we are sitting right no our 100ema. Ema or not., the passing above 100 is not inspiring confidence. The more i look at the trades,the disappearing bids and painting jobs the more i'm confident it will not stay long in the triple digit range for the coming days/hours.. But the bids are turning around. Are you talking about as we moved down? Well, those bids always disappear on the way down.  Seriously, the market depth is looking much much better. Yes it can be manipulated though. My feeling and thoughts are that we don't drop below 100 anytime soon. I know I might be wrong, just please don't taunt me and I won't taunt you (much) if we stay above 100. Of course if the volume dries up and we start that sideways movement again, I will become careful. Should have sold a small position at 130 to be safe... |
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Nice Find! Wish I could say I go back to 2011, well at least I was trying to buy but there was no place to easily enough.
Nice motivation. Always have some position for the future.
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Market Dept on Magic of the Gathering Xchange is looking MUCH MUCH BETTER. I am no longer worried about a continued down turn here. The buys have really picked up and are actually matching sells within +- $5 at this range. Showing some support. All the things that the bitcoinchannel.com goes over I just checked and it's looking pretty good. Glad I didn't sell any today. Brother Rampion had me worried But I am still watching closely!!! Also, we are sitting right no our 100ema.  |
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More down to earth - The huge benefit to the BFL machines is the watts used. Should the BTC price go down substantially, they will still be relatively cheap to operate as the watts per Gh is very low relative to the competitors.
True, but that is a big if.. I don't think BTC ever gets below $50 again.. JMO Agreed. Right now we are sitting on what, to me, is a critical level - the 100ema. We break through that, and there are a lot of bears and the chart does support them a bit, then we might go down hard. I would just wait for a stable bottom and pick up what I can afford. But, seeing those huge buys come in like today that rocketed the price, makes you know big money is out there and anything can happen. edit - I guess I didn't consider what that price would be, to be honest. Any ideas? |
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Is this how dark-pooling works? Maybe?
eheheh, interesting idea. Perhaps Trade Hill is also trying to maintain a price secretly. There is a que of a few million dollars and they are buying in a range... nahhh, but it sure is interesting what happened today. Just makes you wonder why they didn't buy yesterday. Perhaps they just wanted to see that bottom formation in play and hold. Note - we are sitting exactly on the 100ema support line - The bottom of yesterdays candle is basically there to. It gives us some hope. |
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Those little Jalepenos are so cute you just plug them right in and BOOM BTCSure the company has been plagued with all sorts of bad decisions, bad calls, bad planning and bad timing but the fact remains they jumpstarted the new generation of Asics mining. It was New technology in a New profitable industry and Greed got the best of most. The Pre-orders were a bad idea, but maybe it was necessary? If people would have been patient they would have made more money and possibly the difficulty wouldn't have increased as much as it did. Perhaps the price would be much more than what it is now? I'm sure they'll pull through the madness and get orders caught up hopefully before all the Bitcoins are generated, but at least they're finally starting to ship them out.  Are you kidding me? They are the 3rd company to release an ASIC. How is that "jumpstarting the new generation of Asics mining". I sure hope this post is satire and I'm just not getting it. More down to earth - The huge benefit to the BFL machines is the watts used. Should the BTC price go down substantially, they will still be relatively cheap to operate as the watts per Gh is very low relative to the competitors. |
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We will be find in the future. If we are still using money the way we do now in 2140, then we got much BIGGER problems. We better be closer to a Star Trek model by then. Bitcoin gets is the logical next step away from centralized currencies.
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