There she blows! Wow that was fun to watch....  |
|
|
|
There is no reason for the sudden and dramatic rise in volume. Insider trading? My bet is that some traders have become aware of impending negative news regarding gox and want coins off the exchange. We've been on the edge since the Dwolla incident.
Is this some kind of advanced reverse psychology that you are speaking?  There was just a conference with lots of VC's there. So, some traders know of impending negative news and so are somehow driving the price up and risking lots of $$$ in the meantime? You should write children's stories...  Come on, you can come up with something more factual that that. How about the Japanese stock market COLLAPSED by 12% yesterday and that is a sign that Quantitative Easing (aka planned hyperinflation) doesn't work. Ok , let's hold the bulls a bit and be serious , with facts NIKKEI is way higher than it was one month ago , even with the drop , ( not 12%) and currently is running green at +0.9%. Let's not get into another Cyprus story The Nikkei is up for a few reasons: 1 - They are printing A LOT more money there per suggestion from American Bankers. A LOT of that money goes into the stock market there, as it does in America. 2 - The artificially low interest rates create a situation where corporations are borrowing next to free money and buying back there stocks. Up 82% over last year. This reduces shares in the publics hands and therefor profits go up (with less shares to count for). 3. The artificially low interest rates cause savers to be penalized as savings is lowing value due to the inflationary environment. So, they put money in the stock market. Now of course, the campaign to keep gold and silver down via naked puts is as strong as ever. They MUST not allow a rising gold/silver price to their money as the public knows the historical connection. So, they keep it down. See Gata.org. Now, when you see the stock market fall 7% in one day, don't try to paint an inflationary induced rise in a positive way. It is up due to printing money, plain and simple. When productivity goes down, unemployment up, etc. and the stock market is up HUGE, what the heck does that tell any sane person about the economy and the situation in general? We don't believe nor trust the what the government is saying, because we have learned better. Don't get angry at me , but you just see things the way you want them to be , you're not analyzing you're just saying I'M RIGHT. It has been debated for so long and proven that Cyprus had nothing to do with that price spike , now you're trying to find a "disaster" responsable for every bitcoin price raise. Common , people running from Japan meltdown and buying ...33k BTC, 4 millions usd ? AMAZING SUM! For the cleaning lady maybe. Ps. cut 200 coins out of those 33k , I bought those ones. I'm not really sure what you are trying to say and I am not angry at you. I actually have quite fun posting here. It's hard to know what another is feeling by looking only at their words. Anyway, if you haven't noticed, BTC is a sentiment indicator. The reason BTC is doing what it is doing right now is because global currencies are being inflated, manipulated, etc. People are tired of it and are looking for something they can trust. Enter BTC. You can't say the price of BTC went up right after Cyprus happened but didn't have anything to do with it and not back it up. That is a very very strong thing to say minus Strong evidence. Well, you just attacked my, in your words, "disaster" message and never gave any information to the contrary. You are sort of clearly exposed now. What is your point? To attack, then present the correct opinion and don't just use aggressive language to try an make your point. Emotion is concerned with winning, not with truth, quite often. So give me facts. |
|
|
|
All of a sudden I'm checking that blue line. Nah, we couldn't could we? I'm still cautious, if we close above $130 today I shall do some sort of merry, little dance.  Further thoughts in a thread https://bitcointalk.org/index.php?topic=215267.0 in Speculation. Thanks for the reminder, the chart and the laugh!  |
|
|
|
There is no reason for the sudden and dramatic rise in volume. Insider trading? My bet is that some traders have become aware of impending negative news regarding gox and want coins off the exchange. We've been on the edge since the Dwolla incident.
Is this some kind of advanced reverse psychology that you are speaking? There was just a conference with lots of VC's there. So, some traders know of impending negative news and so are somehow driving the price up and risking lots of $$$ in the meantime? You should write children's stories... Come on, you can come up with something more factual that that. How about the Japanese stock market COLLAPSED by 12% yesterday and that is a sign that Quantitative Easing (aka planned hyperinflation) doesn't work. Ok , let's hold the bulls a bit and be serious , with facts NIKKEI is way higher than it was one month ago , even with the drop , ( not 12%) and currently is running green at +0.9%. Let's not get into another Cyprus story The Nikkei is up for a few reasons: 1 - They are printing A LOT more money there per suggestion from American Bankers. A LOT of that money goes into the stock market there, as it does in America. 2 - The artificially low interest rates create a situation where corporations are borrowing next to free money and buying back there stocks. Up 82% over last year. This reduces shares in the publics hands and therefor profits go up (with less shares to count for). 3. The artificially low interest rates cause savers to be penalized as savings is lowing value due to the inflationary environment. So, they put money in the stock market. Now of course, the campaign to keep gold and silver down via naked puts is as strong as ever. They MUST not allow a rising gold/silver price to their money as the public knows the historical connection. So, they keep it down. See Gata.org. Now, when you see the stock market fall 7% in one day, don't try to paint an inflationary induced rise in a positive way. It is up due to printing money, plain and simple. When productivity goes down, unemployment up, etc. and the stock market is up HUGE, what the heck does that tell any sane person about the economy and the situation in general? We don't believe nor trust the what the government is saying, because we have learned better. |
|
|
|
There is no reason for the sudden and dramatic rise in volume. Insider trading? My bet is that some traders have become aware of impending negative news regarding gox and want coins off the exchange. We've been on the edge since the Dwolla incident.
Is this some kind of advanced reverse psychology that you are speaking? There was just a conference with lots of VC's there. So, some traders know of impending negative news and so are somehow driving the price up and risking lots of $$$ in the meantime? You should write children's stories... Come on, you can come up with something more factual that that. How about the Japanese stock market COLLAPSED by 12% yesterday and that is a sign that Quantitative Easing (aka planned hyperinflation) doesn't work. |
|
|
|
I'd like to see us stay above $127 or so, as that seems to be a support/resistance level from April 20-22. Would much rather be sitting on it that pushing at it. Next resistance level I see is that $135 range from April 3, 4 and 27. |
|
|
|
Why is volume on gox so low though? Last week we still had 100k+ volume
People are moving off of Gox since the DHS thing, is my guess. So, volume is picking up elsewhere. |
|
|
|
Gotta love it... Unfortunately, this video is not available in Germany because it may contain music for which GEMA has not granted the respective music rights. |
|
|
|
|
OP sounds like he is describing Bitcoin.de's system. Buyer and seller have verified bank accounts, buyer transfers the money after purchase (and bitcoin.de freezes the coins purchased), when the money arrives at sellers account it is mark as received and then Bitcoin.de releases the coins. There are problems with this but overall it works quite well.
What I see in a decentralized distributed exchange though, is the money being stored in the "BTC Cloud" and all transactions happening there. So, it is like having a virtual bank online.
|
|
|
|
7 days high broken again. Next milestone, breaking the 30d high ($166.43). That should take a while, but with BTC you never know. Breaking $130 with nice volume could trigger some nice panic buys If you look back at the top of the candles on April 20, 21, 22nd, ( http://bitcoin.clarkmoody.com/) that is exactly where we sit right now. And that was right before a move up. I would really like for us to be around $130 or so and sitting on that support, rather than below it. IAS |
|
|
|
Seeing a time-compressed chart like this reminds me how much it has zoomed up already. Is it greedy to expect similar increases so soon? Even a gentle upward trend for the rest of the year would be a phenomenal result. Agreed, but can you tell us what we are dealing with here? Are we talking a currency, stock, commodity, protocol, technology, etc? This is the "problem" and when you add to that the world economic situation, crazy weather patterns, wars and on and on, it becomes an even bigger unknown. We can't look at this like a regular currency, stock, etc. and we must consider the times. The clue we have is the direction is most probably up. The question is, how much and fast? We can probably agree that we don't know what we are dealing with here. It is unique, just like the internet was unique when it came out. Comparing BTC to anything traditional is skipping over a lot of variables. |
|
|
|
Well , I can't afford the luxury to "hoard" or keep bitcoins but i have a bad feeling about people forgeting that is was supposed to be a currency not some collectibles. If you check the stats at blockchain you see transaction volumes dwindling and this is a bad sign in my opinion. I'm no bear and no bull , for me the best price change will be 0 either up or down for a few months. I had enough shocks last 12 months The VC's and projects going on now are moving BTC ahead. It is going to take time. If there is a need for BTC (and there certainly seems like one) then it will get used. We are talking lots of money to be saved. You are right, people do forget about it being a currency and not to be hoarded, but at the same time value is being created by the dwindling supply. And when you use those 8 decimal places you have enough bits to do lots and lots of commerce with. Hoarding, in the end, will have next to nothing to do with BTC's success or failure. Some holding (hoarding) actually helps the value. The early adopters, Satoshi, and many many users will make sure large scale hoarding never happens. But we are not even near that, lots of coins and years still to come. There is a point to this experiment... |
|
|
|
That is what happens when you start printing money like mad, the yen lost like what, 30% in few months?
Actually printing the money like mad is responsible for the rise in stock markets. And for a variety of reasons: 1 - The artificially low interest rates hurt savers. So, many people move some money out of banks and into stock markets. 2 - The Banks are using the new liquidity to buy stocks ("assets") 3 - Corporate stock buy backs in America, who are the largest buyers of large blocks of stocks, are 88% higher than last year. See, when you make free money available, companies will take advantage. They buy back shares, lowering outstanding shares, which ups their profit (fewer outside owners). I'm sure there are more reasons... With all the buying coming from the above, I really wonder how it crashed today? A lot of people, for whatever reason, must have sold. Or hedge funds, etc. But, I do think the game the banks are playing is a lose lose situation and will eventually (in a few months to years) lead to a stock market crash, via the currency crashing. IAS |
|
|
|
[ Eventually, once the price stabilized you will get more people without any wealth what so ever buying BTC as a store of value.
People hoarding BTC will kill it. How? If your hoard and don't spend then 1 - the price will be stable and 2- people will use the remaining BTC's, taking advantage of the 8 decimal places, for commerce. It doesn't matter how many are in "hoard mode" as long as it is being used. Those 8 decimal places are brilliant. Who knows, we may have to move it up to 11. And realistically, if the value is high, why would anyone want to hoard it? Clearly speculators would take profits. Not to mention the early adopters selling some to help make political change and change in general. |
|
|
|
90% don't own a car. But they're going to use money holding BTC? There is 0 domestic economy in China. Which is their problem.
Have you been under a rock for the last decade? China makes around half a million cars a month, all for domestic consumption. 10% of china pop means roughly 100 milions , with half a million cars built a month it will take around 15 years to get another 10% car owners. What if a small % of those 500k (per month) car owners started buying BTC, since they have "money"? Or what if they start giving away a BTC with each car purchase or something like that? Hey, I just thought of a really cool marketing ploy, in general |
|
|
|
That's pretty big news. I don't like the sound of it one bit. The media could dine out on that.
Under 10% of people in China own a car. 40% of families don't own a fridge. The average Chinese person has the same buying power an 9 year old american boy. The people in China with money, will buy/hold/sell BTC as they please. Mass adoption in China was overblown, buying a fridge ranks slightly higher then BTC. Be careful of statistics, they can show anything you want. Speaking of which... China has 1.35 Billion People and the US has 315 Million. Now, the US is far and away the biggest BTC using country. Now try to put your numbers together with my numbers. Remove 40% of the Chines population just on account of the fridges for surely if you don't have a fridge you won't have a computer. But hmmm, maybe you will have an android phone. Anyway, we'll play it safe. So, there is another 810 million people, that is 2.67 times the American population. Without going any further, see where I am going? And if we continue to have currency issues peoples awareness is just going to grow. How many BTC you think we got anyway? 90% don't own a car. But they're going to use money holding BTC? There is 0 domestic economy in China. Which is their problem. The people with money, will buy/hold/use BTC. The rest? They weren't a factor anyway. Any attack by Chinese Govt, probably makes it more popular. We need very very very small adoption for BTC to be "successful". If and when it continues to get attention and appreciate you are going to get wealthy buyers from poor countries. Eventually, once the price stabilized you will get more people without any wealth what so ever buying BTC as a store of value. Just looking at the quantitative easing (hyperinflation) going on around the world, having a currency for and "buy" the people is going to sound a lot nicer... I really hope the Chinese government doesn't attack it as I think it will affect adoption. But maybe your are right. There is a huge psychological component that is often quite hard to predict. |
|
|
|
That's pretty big news. I don't like the sound of it one bit. The media could dine out on that.
Under 10% of people in China own a car. 40% of families don't own a fridge. The average Chinese person has the same buying power an 9 year old american boy. The people in China with money, will buy/hold/sell BTC as they please. Mass adoption in China was overblown, buying a fridge ranks slightly higher then BTC. Be careful of statistics, they can show anything you want. Speaking of which... China has 1.35 Billion People and the US has 315 Million. Now, the US is far and away the biggest BTC using country. Now try to put your numbers together with my numbers. Remove 40% of the Chines population just on account of the fridges for surely if you don't have a fridge you won't have a computer. But hmmm, maybe you will have an android phone. Anyway, we'll play it safe. So, there is another 810 million people, that is 2.67 times the American population. Without going any further, see where I am going? And if we continue to have currency issues peoples awareness is just going to grow. How many BTC you think we got anyway? |
|
|
|
Wow, they froze futures trading! Did they also freeze the market? Talk about bad news for centrally controlled fiat. |
|
|
|
Relax about China; the Chinese have been figuring out how to get around the CCP's censorship for years. Sure, it means an adoption boom is unlikely but we'll still see some support from China. Maybe those interested will just move to OTC.
China attempting to block bitcoin traffic = good news for bitcoin(they legitimize it by banning it)
Nikkei crashing 7% = good news for bitcoin (if you have been following Japan recently you'll know why)
Most of the "bad news" is really good news. Heck, the Gox lawsuit and Dwolla seizure was good news, and people moving away from Gox is good news. Finally folks are starting to realize that we live in bizarro-world where everything is the opposite of what it seems.....
If BTC is banned in China that is terrible new, no two ways around that. We want to be able to use BTC for purchases and stuff. It will be underground there but the point is to have a new global money system, maybe not "the" system. Nikkei crashing I agree is good news for BTC and for those who don't agree with just printing money. It is stealing from savers. The Gox lawsuit was great as it got people on their toes and started a diversification that was needed. Further this is opening up opportunities for other exchanges. |
|
|
|
I wouldn't consider bitcoin as a "safe" heaven, but the alternatives have turned sour in the last few days/months...
Gold and silver are down
stocks just took a beating (2008 in the making ?)
fiat is being constantly inflated
commodities are up but for investing
so probably a lot of investors are getting out of the stock market at the moment and while they won't go all in we may see some now money testing the waters over the next few weeks.
Well, we know at least the security part of BTC is safe. The unsafe parts lie at the users level and of course in a bigger way at the government level. Regarding that last point, look at what is happening to currencies all over the world. Essentially we have "managed" hyperinflation! Confidence is all that is keeping the system up. If a few more stock market crashes happen like in Japan today, this ship can topple and that lack of confidence would just open up the flood gates to Bitcoin and other stores of value (see Cyprus - I spelled it right this time, please note). Now, in that way, what do you have to lose? (A government closing it down? A price crash?  ) You need some store of wealth. Gold and Silver work but the banks and/or hedge funds have been naked short selling them and you can be sure that will continue as they do not want people to lose confidence in the Dollar, Euro, etc. But people are still buying them up. So, safe to me is a relative thing. The whole reason why BTC is here right now. When the stock markets start crashing the currencies will be right behind them (maybe not in that order) and then you will see a disconnect between dollars/Euros/etc. and gold/silver/btc. You will want to be holding something in your control, not a governments or states or military's. |
|
|
|
|
Show Posts
