All i know is rpietila has fun. No matter what he is doing, at least he's taking the bull by the horns and doing something..
We need more people in the world like him.
Thank you for these kind words, sir. But please remember that at times, 40% of this thread is metatalk about me, and the raison d'être of this thread is to observe the walls that the wallmasters set up. There are other threads available, if you want to discuss my fundamental research in an atmosphere of dignity, or contempt. The latter thread, is shown as follows in my screen:
A: This user is currently ignored.
B: This user is currently ignored.
A: This user is currently ignored.
C: This user is currently ignored.
LOL someone has a massive ego.  He might have one, but something I've learned (and read/recognized from J. Krishnamurti) is that we need to "See the truth in the false". In other words, everyone has something to say and there are true words coming from everyone - and quite often wise due to different lives, circumstances, experiences, etc. I'm not saying he is all truth or all false, but clearly he adds a lot to the talk. I listen to what everyone has to say. Sometimes we look for just a "professional" perspective with big words and all that, and then we miss the teacher on the street that goes under the radar. I'm not coming down on you either, just being slightly contrarian.  |
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Let's not forget that a major bubble popped less than 30 days ago. It took one year for the price to return to $30 after the 2011 bubble. For me the only thing holding us back from the strong downward pressure from the last crash is the Chinese news. People have been squabbling over what this news means in the short-range. What are the implications of this for the months to come? This is MAJOR progress for bitcoin. The Chinese government is most certainly backing bitcoin as we have had multiple media leaks endorsing it. It cannot be an isolated event. The investors will probably be pretty bad until the bad ones lose capital. Therefore I expect a lot of volatility in the coming weeks.  We're actually riding this upper wall. I believe the reason we have not crashed (and appear to be rallying) after we smashed the 120 wall and wallzilla jumped ship is because the market is deciding how it is going to react to the China news. The market WILL react to this positively, it is simply too big to ignore. I see a steady rise upwards that gets refueled on Tuesday when the new money is released (the new investors will be happy to jump on the upswing, and actually, this is quite good IMO. This will act as a catching net and widen the base of initial investors from China. Only good things ahead for BTC You may be right regarding the last crash and the time it may take to "recover" from the latest. But, as you said what about the Chinese? And a very big factor to consider is our outstanding supply of 11 million (probably a bit less than that). We are moving forward at a pace that is not linear, maybe not exponential, but quadratic or somewhere like that. Due to the low float and the world situation, to use the past as a predictor of the future, especially when talking about anti-fragile technology, is dangerous. It can bite us quick like. |
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try stay on topic please guys  I think China is going to be more of a large Vacuum than a wall. But no matter, they are going to suck up a lot of coins. Still got that big wall at $110 and smaller sell wall at $120. Both are huge though... |
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One really has to question how BTC got on Chinese national TV for 30 minutes. This is beyond not making sense to the point that it makes total sense. Know what I mean?  Seriously, this is great news and as another poster said, the VC's speaking out in the last week were also great. Even if an adjustment now is coming, it can be dangerous to trade it. Maybe holding is better. |
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I'd prefer it if they nudge the 120 wall first... I need to sell before I can buy.
I think that whoever is putting the wall at $110 is trying to get the price up to $120-$125 so he can get rid of the last dump of coins he bought at a higher price before the value started going down. We should see some movement as soon as we get to a new high point. ($120 or $125 or whatever it might be) - As the price rises to ~$119 he is going to move the wall from $110 to $115 in order to put even more buying pressure on the market, so that he can get the price over his desired value. It's not going to make it that far, though. People are becoming wise to the plan. That is what I am thinking. Traders who watch the market depth will see that. Those that just put in buy orders near the bid, don't have a clue about the manipulation going on. |
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That wall is so crazy that it has to be part of a pump&dump scheme. Otherwise, it's just too crazy. Who the heck is going to put a $2M bid on a single point, just below the spot price, in such a tiny market as BTC? I bet is someone pushing the price up before a massive dump. Interesting situation nevertheless.
At the same time, ask sum creeping down - let's see how real is that bid wall, it would be nice to test it.
We probably can't imagine some of who are involved in BTC. I think that is a fair statement. For all we know a big buyer (VC) steps up, if that sell is removed first, and just purchases the $2M in bitcoins without making the price move up. Think about that. Great opportunity to buy lots at one time. If they pull it, we might just run on through it, actually that is my feeling anyway. I really don't think the large sell order will stay, just as the earlier large bid at 100 (?) got pulled. For some reason, trading today and yesterday is like a movie... For me it's clear than the large bid at $100 was just moved to $110. I think nobody would put all his money on one spot unless he has peanuts - and $2M is no peanuts in the Bitcoin market. You would place bids all over a certain price range, otherwise you are just wittingly pushing the price up, destroying in fact the opportunity to buy below the spot price. It's pure logic: all the buyers will place bids above your wall to be able to buy something, all the sellers will slide their asks up... So, it's clear you are just driving the price up, which someone would normally do before a dump. Just remember that $2M dollars is MORE than 10% of the TOTAL fiat in the Gox order book, that's a HUGE amount to put in a single spot, and its pointless unless you have no intention to buy and in fact your intention is to sell. Good description, thx for that. What about on the sell side at $120 though? |
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That wall is so crazy that it has to be part of a pump&dump scheme. Otherwise, it's just too crazy. Who the heck is going to put a $2M bid on a single point, just below the spot price, in such a tiny market as BTC? I bet is someone pushing the price up before a massive dump. Interesting situation nevertheless.
At the same time, ask sum creeping down - let's see how real is that bid wall, it would be nice to test it.
We probably can't imagine some of who are involved in BTC. I think that is a fair statement. For all we know a big buyer (VC) steps up, if that sell isn't removed first, and just purchases the $2M in bitcoins without making the price move up. Think about that. Great opportunity to buy lots at one time. If they pull it, we might just run on through it, actually that is my feeling anyway. I really don't think the large sell order will stay, just as the earlier large bid at 100 (?) got pulled. For some reason, trading today and yesterday is like a movie... |
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Well, this is a first for me.
Anyone just see like 60 - 100 sell orders come through for around .2* BTC? Clearly a program, but why do that? The price didn't change. Is it just to lag the system as BTC approaches $120?
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If you can't deposit or withdraw BTC, how do you know you are trading BTC?
If this is UK based, it could be good for me. I'll have to look into it.
The reason that they don't allow withdraws of BTCs is because of the technical and legal hassle, and the problems with credit card charge backs. Doubtly they don't have the BTCs, as if there is a bubble, and enought money is inside, they would lost A LOT. Plus there is no reason for them to don't have the BTCs, as they win money with the fees, not stealing you. Well to be more clear I was looking for low 70's.
And yes, we might not ever get there again. But in 2 or 3 months? Maybe.
I saw the 32$ to 2$ That took months.
I think we are gonna see low 70s soon. The market is very volatile, and goes from bear to bullish very fast.. We did touch the high 70s just two days ago, and maybe without the China news we would have tested the wall. Even if I'm pretty sure if would have resist. Bad news related to MtGox and CoinLab legal affairs can make the price go down easy. I wouldn't bet anything to BTC going to seventies, or even fifties. I am worried about that big buy bid that went up (again)? Same guys? It is a tough thing to predict. I can imagine some big VC firms want in at much much lower levels. But, the question is, considering there are 11 million BTC out there (much of which is not getting sold), who gets to it first, the big money or the masses just buying a few here and there? If it does go down (again) to 50, it is pretty clear people will load up on it. Look at what is happening with gold. The banks are selling naked puts to drive the price down, hoping to take interest away from it. What has happened? Demand went up. Figure that one out, it is easy to see. People have had it with governments lying and cheating. Really, a statement is being made. I'm not saying BTC will succeed. But it does look like most are behind it, or what it and other alt coins stand for. |
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I feel so sorry for those guys that were waiting for 70. I feel even more sorry for those guys that are now waiting for 105.
i waited and am still waiting for 70, if we never get there, oh well. Why on earth do you think we will go back to 70 any time soon? I don't need soon. By soon I mean 2015 Yes I was hinting at the next bubble burst, but you are probably right, I doubt the bottom of the next bubble will be 70. I guess what I meant really was that we simply are not going to see 70 again in my opinion. I think since 50 we've had an uptrend, higher lows and higher highs. If in 2015 BTC is worth 70$.. Well, I don't think rpietila 300k are realistic, but, expect a 70$ in two years is pretty bearish. I would say 300$ as normal easily. Well to be more clear I was looking for low 70's. And yes, we might not ever get there again. But in 2 or 3 months? Maybe. I saw the 32$ to 2$ That took months. True, but this is truly something that cannot be compared to a traditions currency, stock, protocol, technology, etc. However, I'm not saying you are wrong. Government intervention might take it down. It depends on the government. Imagine the US is against it but the rest of the world is for it... On the other hand, the China thing has just started. It can shoot to $1000 and then come back down to $70. We shouldn't get attached here. We are really taking part in one of the worlds biggest experiments. Since BTC is anti-fragile, I'd say the Universe is on our side. Realistically, BTC is not about getting rich, it is about a new form of money. And, if it is successful, you will only need 1. Think about that... IAS I'm in a win win here, btc goes down, i get more btc btc goes up, i get Ferrari LOL, you are right. Just make sure you put a decent catalytic converter on that bad boy. |
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I feel so sorry for those guys that were waiting for 70. I feel even more sorry for those guys that are now waiting for 105.
i waited and am still waiting for 70, if we never get there, oh well. Why on earth do you think we will go back to 70 any time soon? I don't need soon. By soon I mean 2015 Yes I was hinting at the next bubble burst, but you are probably right, I doubt the bottom of the next bubble will be 70. I guess what I meant really was that we simply are not going to see 70 again in my opinion. I think since 50 we've had an uptrend, higher lows and higher highs. If in 2015 BTC is worth 70$.. Well, I don't think rpietila 300k are realistic, but, expect a 70$ in two years is pretty bearish. I would say 300$ as normal easily. Well to be more clear I was looking for low 70's. And yes, we might not ever get there again. But in 2 or 3 months? Maybe. I saw the 32$ to 2$ That took months. True, but this is truly something that cannot be compared to a traditions currency, stock, protocol, technology, etc. However, I'm not saying you are wrong. Government intervention might take it down. It depends on the government. Imagine the US is against it but the rest of the world is for it... On the other hand, the China thing has just started. It can shoot to $1000 and then come back down to $70. We shouldn't get attached here. We are really taking part in one of the worlds biggest experiments. Since BTC is anti-fragile, I'd say the Universe is on our side. Realistically, BTC is not about getting rich, it is about a new form of money. And, if it is successful, you will only need 1. Think about that... IAS |
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Here is the thing, I have like $160,000 US to buy back in around $70. If we don't get there I will just use the fiat on something silly like a Ferrari.
I really don't care but I'm not about to panic buy. If we go up from here, I also win as I'm still holding buckets of crypto.
I'm just chilling shooting the shit while I have a glass of wine and smoke one of ColdHardMetal's fine Cubans.
Buying a Ferrari because the price of BTC is rising is a panic buy. Take part in history, I mean anti-fragile innovation. Its about sharing |
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Wow, episode 4 was a GREAT episode.  I tell you what, I am so excited about the possibilities of the blockchain and am glad you got to talking about it. I looked at the Wiki page for blockchain uses https://en.bitcoin.it/wiki/Alternative_chain and the list just keeps growing and growing (e.g. - decentralized DNS, voting, file storage, time stamping, etc.). What an ingenious(al) idea to use it as a log-in method and further to use bitcoins as a "deposit" of sorts to thwart off spamm accounts on sites such as this one, twitter, etc. Sorry for the poorly worded observation but watching this technology develop is something to behold. We need a running list of alternative uses of the block chain. Antifragile = BTC = Black Swann (and not necessarily in that order). IAS ps - Adam - If you are over 2000 listeners by episode 4, the future looks really bright for you guys and of course, us as well. |
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Odds are price is going to tank soon, it seems like a lot of artificial movement is attempting to force momentum upwards and failing pretty badly.
But can't a bid wall attract a seller who wants to get rid of a huge amount? I mean, if someone wanted to sell a huge amount of coins that would just crash the price, probably below the bid wall to begin with. So, if there is an opportunity to get rid of a hug amount of coins at a roughly $8 cost per coin, it is a possibility. |
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Lucif, I agree with the symmetrical triangle. But what makes you think it will break down and not up ?
Lucif "always" bets on red. Think it's in the name? |
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Lucif, I agree with the symmetrical triangle. But what makes you think it will break down and not up ?
Because it was created out of the plunge down. If it was on the way up, then reverse it. But I'm not sure these things are written in stone. Lots of manipulation going on for sure. |
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Man, what's with that $2M just added to the order book? IMO that's a huge manipulation attempt, next move on this pump and dump that will probably unfold from Monday to Wednesday. Check it:  But when it is so "obvious" it can go either way, no? |
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...which will disappear when the price comes closer to it.
What if a huge sell came in, would it still disappear in time? Excuse my ignorance, I imagine program trades are very fast to respond, but if something is on the books, can't it be taken up with a HUGE sell? IAS |
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No, not always. For example after April 7th Google Trends mysteriously stopped showing new data for about 5 days, enough to leave us completely in the dark while the April 11th crash was nearing. And even if it had shown the data, all we would've seen was that interest in the search term "bitcoin" was rising and rising and rising, with no sign of slowing down until the day of the crash. So how do you use that to predict anything that you couldn't already predict from the price trends? You don't. At least the price trends are up to date and even shown in real time, whereas the Google search trends always lag by at least 1 day. So no - not always useful. I imagine you can integrate that data into your TA and such. The more "data points" you have, without ever overly relying on one, the better off you are. But you point is taken... IAS |
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certainly amusing, if we manage to hit the 105 wall, you're going to suddenly see 20k bids disappear into thin air.
Yep. Clearly those walls are not all buys and sells but just manipulations. But, there are many people not showing their cards and just waiting to jump in one way of the other... |
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