No idea but thanks for the link. I looked at the wiki and it is based on Bitcoins blockchain, so it seems like it would be similar to NMC. I still don't know why NMC is not going anywhere with their decentralized DNS??? I think the internet is quite reactionary and not necessarily proactive when it comes to politically bent things. e.g. - It took Napster getting owned to bring about torrent. (I'm not complaining). |
|
|
|
i think you should go back to economic school
Welcome on my ignore list for such an extraordinarily idiotic reply. And the ironic thing is his handle.  |
|
|
|
Right, even with your line I still don't consider the support line invalidated. It doesn't look like a convincing break out (yet). Anyway, don't take this all too seriously I'm just having some fun in here. I don't believe these lines say all that much about the bigger picture. It can go up or down from here, that's all I can say about it for sure.  I'm glad you asked the initial question as it wasn't clear to me either. TA is great, I use it all the time, but it does not follow rules like some are making it out to be. That might be more true in BTC as the programs are not fully in effect and even more so, BTC does not exactly fall under the typical stock, commodity, currency, etc. paradigm. I think what TA does show in BTC is sentiment and habit, but I'm no expert. Just having some fun...  |
|
|
|
Thanks again for the link in the other thread. Having fun with the ratio chart but I have a problem. You said that buying is synonymous with a ratio over 1. But, it you look at the first two charts on the left side - 1. price & 2. ratio, it seems that the ratio dropping is synonymous with the price going up and vice versa. I understand the ratio is above 1 overall, but isn't something off or what am I missing? See pic below, especially far right side showing divergence. IAS  |
|
|
|
Anyone know the bid ask on the other exchanges, or maybe an overall average?
Hi, I am showing the bid ask sum for BTC-e on http://www.coinorama.net. It's the second chart on the left (well actually, I divide the bid ask sum by the current rate so that if the ratio is > 1, it means that the bids sum is higher than asks sum). Hey there, thanks for the link. Bookmarked and following, and looking for that > 1 ratio  Any more info on the charts or things to keep an eye out on? I'm still in the learning phase. Appreciated, IAS edit - can you clarify what you do, as I see it already is a ratio (2nd chart on left) Thanks for following  The second chart on the left is : normalized_ratio = (sum bids / sum asks) / current_rate What you were looking for initially was : ratio = (sum bids / sum asks) Switching from the regular ratio to the normalized one is pretty straightforward, I should add an option to do that ! It says it is an ask/bid ratio (not bid/ask ratio), so I'm confused a bit as to what I am looking for. Can you walk me through an example, please? |
|
|
|
Anyone know the bid ask on the other exchanges, or maybe an overall average?
Hi, I am showing the bid ask sum for BTC-e on http://www.coinorama.net. It's the second chart on the left (well actually, I divide the bid ask sum by the current rate so that if the ratio is > 1, it means that the bids sum is higher than asks sum). Hey there, thanks for the link. Bookmarked and following, and looking for that > 1 ratio Any more info on the charts or things to keep an eye out on? I'm still in the learning phase. Appreciated, IAS edit - can you clarify what you do, as I see it already is a ratio (2nd chart on left) |
|
|
|
It wasn't a proof, I just found the argument funny. (And I don't really agree... the longer we wait without news, the more the hype can diminish...) Also, MtGox is still the uncontested leader in terms of volume: http://bitcoincharts.com/markets/eheheh, as I said, I like the Matrix and all that it represents. Regarding no news and hype diminishing. Well, two points, if the volume dries up and the price drops I think many of us will just buy more shares at lower prices. Point two - We are seeing infrastructure for BTC being built now. The VC money is only speeding things up. So, we are approaching a point where we don't or won't need hype any more. We will be saving people money on transactions for starters. This is where the fun will begin. And that is why BTC is so exciting, in part anyway. We are in so many markets. We are a store of value, like a commodity in a way. We are a currency, a payment system (of sorts), etc. More reason to be careful with making too big of an exit. Even when one considers fear based news like "The FED is looking into BTC..." Yeah, MtGox is still king, but I was getting at the outflow of money confusing the data, in particular over the last two or three weeks, or so. |
|
|
|
The good thing is that a great announcement is innevitable and the longer we sit the better we are.
 When one starts quoting from movies as proof, that is a bull signal. And I LOVED MATRIX! |
|
|
|
I'm following Gox like the rest of you, but we all know we can't give it the same importance since the exodus, that we once did. (e.g. - Those Bid Ask sums have not "made sense" recently due to a few reasons brought up here). Anyone know the bid ask on the other exchanges, or maybe an overall average? |
|
|
|
Looking at past action, you would always do well to hold (unless you can call those tops and bottoms like a pro - but do you want to get caught with your pants down considering what we are talking about with BTC?)
Interesting... If really you want to be the careful type, shouldn't you wait on the sideline with your fiat ready, as price has a tendency to fall faster than going up? It depends, do you want to exit on sideways movement and pay capital gains AND maybe see it go up and not down? And, it already went down hard - you are betting the correction is NOT over. We don't know. It sure may go down, it is like we are between movements, but do you want to chance it? The good thing is that a great announcement is innevitable and the longer we sit (moving sideways) the better we are. Of course a bad announcement may come, but we've withstood a few hard ones fine. But another Cyprus probably means another run up and there are a lot more Cyprus' out there than DHS'... We got guidance from the government and watching the news and researching shows that our economic system is NOT looking good. See Ireland, Greece, Italy, Spain, Japan, etc. |
|
|
|
Mehhh...
There's no warranty whatsoever that that wall will ever be eaten.
Is there even enough fiat on bitstamp's order book in total to execute it?
I see a lot of will by the bitcoin comunity but the price is surely having a hard time going up.
I won't sell but this optimism taken for granted... dunno. I'm skeptical.
On the other hand, there is quite a bit of pressure, the wall has already been scratched a couple of time. I guess if we break past it, it will be a breeze till we reach 200, and then it's f**king on.
We have to consider news, at some point, from a large firm like Paypal or the like (acting as a funding mechanism) that will make any "current state" of things, explode on a dime. We are taking part in the largest social experiment ever. Many shocking things will come with it. That said, I feel what you are saying, but one never really knows when the direction will turn. Looking at past action, you would always do well to hold (unless you can call those tops and bottoms like a pro - but do you want to get caught with your pants down considering what we are talking about with BTC?) |
|
|
|
I TOTALLY don't expect to break even. Not even close. I am getting it as a tea warmer and novelty device (but mostly to do my small part for the network).
My feeling is that you might have been better off not giving your money to a company that has done so much harm to the Bitcoin community. There are other ASIC options out there. But your choice. I can see your point and somewhat agree with you. The thing is, the Jalapeno's are small and don't use much energy (and are relatively quiet). I won't look back years later and see how much it was worth in "current" BTC's as it was from my spending wallet. That said, I certainly hope I didn't in a sense hurt the BTC community by supporting what many question to be a fraudulent company. But they certainly are shipping some units lately.... |
|
|
|
Rampion - I hate to say it, but I am a bull. Maybe that is the wrong word though. I don't like labeling myself as anything, but I'm in this long term. Even if the price shot up, I want to remain a part of the biggest social experiment in the history of the world and not trade in and out of it.
That said, with my spending account I pre-ordered a Butterfly Labs Jalapeno today. I just thought in case the price drops I should spend my small reserve of coins, after all that is what they are for.
I know I may not even get the rig this year and when I do get it, it won't be able to mine anything but my point is to support the network in my own way. If it means just doing some of the transactions for .0001 BTC, then so be it. But in 15 years as my 5 BTC's are paying for my daughters college education I will also tell her I was helping a cause. And with some profit, as many of you will do, I will apply them to a greater good (outside my house!).
Hmmm, do I do the 7GH upgrade for $100 or hope that a firmware download is made available? Guess it won't matter come December/Jan or whenever it comes.
Rock on...
Thats incredibly brave of you, personally I would have just held the BTC. I assume you read all the threads where they haven't delivered etc? It could be that by the time you get it the difficulty will be so high that you never break even with it I TOTALLY don't expect to break even. Not even close. I am getting it as a tea warmer and novelty device (but mostly to do my small part for the network). Actually, I get the feeling we are going to see some Miners come out that blows our socks off. Perhaps they will be Chinese clones or the like, but I think by end of this year, 100 GH units will be not as uncommon as you might think. I sold my Commodore 64 a while ago and wish I still had it for memories sake. So, I won't make the same mistake twice. And who knows, I might not even ever use the Jalapeno. Just sell it on Ebay in 10 years (or whenever BTC hits $10,000 each) for a lot. ehehhe |
|
|
|
Hold on the motherfucking Bitcoin, he won't let you down, as he did not let down anyone with strong hands and cold mind since this baby was born in 2009
Don't be a pussy, Bitcoin will change the world, and the real winners in this game will be those who holded and increased their stashes crash after crash, bubble burst after bubble burst.
this, dude. this. it's a revolution. a non-violent one. we can do it, we must. the real winners are the people. How do we get past bitstamps 130 wall though? When "the others" (masses) start finding out, you will be asking about the $1000 wall, then the $10,000 wall. But we will be talking mBTC long before that - perhaps this year. |
|
|
|
|
Rampion - I hate to say it, but I am a bull. Maybe that is the wrong word though. I don't like labeling myself as anything, but I'm in this long term. Even if the price shot up, I want to remain a part of the biggest social experiment in the history of the world and not trade in and out of it.
That said, with my spending account I pre-ordered a Butterfly Labs Jalapeno today. I just thought in case the price drops I should spend my small reserve of coins, after all that is what they are for.
I know I may not even get the rig this year and when I do get it, it won't be able to mine anything but my point is to support the network in my own way. If it means just doing some of the transactions for .0001 BTC, then so be it. But in 15 years as my 5 BTC's are paying for my daughters college education I will also tell her I was helping a cause. And with some profit, as many of you will do, I will apply them to a greater good (outside my house!).
Hmmm, do I do the 7GH upgrade for $100 or hope that a firmware download is made available? Guess it won't matter come December/Jan or whenever it comes.
Rock on...
|
|
|
|
Well all had seen how my last prediction got correctly.. (in general terms).. (by stabilization i meant it would be around 130 by at least a week)
Here is the next one. This time with more details
Ripples will be around 6k 7k for some days (maybe 2 weeks or less) before reaching 4k per bitcoin.
There are BILLIONS AND BILLIONS of Ripples. They will hit pennies before they get anywhere near what you are saying. K= thousands, that means 4,000 ripples per bitcoin. And they hit pennies already 55 ripples for 1 USD is the current rate... cheers. Ahh, thanks for clearing that up. If I had known the current exchange rate I would have figured that out. Anyway, I think ripples will go for like 50,000 per BTC. There are too many of them in too few hands - BILLIONS woth. It is insane the market cap that they have... Thanks for that link! I was searching and couldn't find one. Do I have the conversion right? If I think XRP is overvalued, then an exchange rate of 50,000 per BTC would be much worse than the current 6-7,000? The chart is backwards then relative to the real value as the higher up the ratio price is, the less value XRP has to BTC? |
|
|
|
I interpret that as it's going to edge between 122-123 by the end of the day, with little resistance to a full rebound to 128-130 as cash starts flowing in towards the end of the week!
Those big sellers haven't bought back in yet. I wonder if they've not finished selling, and they're waiting for your prediction to come true before mega-dumping again, or that they have finished selling and they're anticipating some further downtrend before buying back in again. Or, they're really cashing out, and there are more like them to follow for similar reasons (fincen vs illegitimate business etc). Either way, I'd expect us to be testing 115 again within a week or two. Expect a test of 100 rather. This. The test of $115 will happen muuuuuuuch earlier than "within a week or two". Fasten your seatbelts, gentlemen. The post-crash upwards trend was officially broken yesterday. I don't deny what you say happens (and I promise to buy more BTC's then ;-) But, even though we may have broken and uptrend line, we are still sitting nicely on the support we have created since the first week of this month. Stranger things have happened. |
|
|
|
Thanks for the rates guys. I am an American living in Germany so I guess I don't get the good rates.
I would love to get a 5,000 Euro loan at 2%. I would roll it into Bitcoins at an opportune time.
I mean isn't that what the banks are doing once they get money from the FED? They buy bonds, put money into the stock market, etc. as that is near guaranteed profit with little risk. Risk... ehehhe
That is what they do (invest in assets), but they have a government guarantee if the market tries to burn them too bad. You would not be so lucky and would wind up filing bankruptcy if things turned against you. Fair point but I'm just talking about 5,000 Euro of a loan. I could struggle to pay 500 a month back for 10 months. If things get tough I'd lower the amount is all. It is not 50,000 Euro! |
|
|
|
Well all had seen how my last prediction got correctly.. (in general terms).. (by stabilization i meant it would be around 130 by at least a week)
Here is the next one. This time with more details
Ripples will be around 6k 7k for some days (maybe 2 weeks or less) before reaching 4k per bitcoin.
There are BILLIONS AND BILLIONS of Ripples. They will hit pennies before they get anywhere near what you are saying. K= thousands, that means 4,000 ripples per bitcoin. And they hit pennies already 55 ripples for 1 USD is the current rate... cheers. Ahh, thanks for clearing that up. If I had known the current exchange rate I would have figured that out. Anyway, I think ripples will go for like 50,000 per BTC. There are too many of them in too few hands - BILLIONS woth. It is insane the market cap that they have... |
|
|
|
Yeah, who would sell, when we know it's going to da mooooon!
Honestly though, who is selling right now? Who has been in this long (assuming they have) and doesn't just want to sit back and watch? Well said. I'm a bit later to the game. Started on board at 59 Euro, though I tried buying long before that but there were just no places easily accessible here in Germany. Anyway, after experiencing the recent bubble, I am now in a place of mostly calm when dips happen. I know enough about BTC to know that if the price crashed I would load up (in the absence of terrible news anyway.) But as they say, you are fine until suddenly you aren't fine. 2011-08-02. Only risk what you can lose. Then, you are always fine. And, think about a vacation, you get experience, some pics, souvenirs, etc. It isn't like buying a big item you can show people. To me, the experience of Bitcoin has been more fun than most vacations. It has been worth it thus far just based on the experience. The rest is a bonus. |
|
|
|
|
Show Posts
