It seems like we see a lot of sudden crashes like this recently, and then periods of slow growth, only to lose it in 12 hours or so. We don't seem to see the opposite any more, by which I mean buying that causes the price to soar, like we used to. What is going on?
We aren't in the midst of a hype cycle. make it go back up, please. I can't |
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Falling knives...no match for me. How do you recifiy a $116.xx position, when the markets crashing and with no fiat left? BTC -> Ripple -> Sell BTC for XRP -> Sell XRP for USD. Voila...you have fiat for the panic sell and you lost merely crumbs in the process. At current prices, it's looking like the move of the century.  I just had to share that because that was absolutely insane what I did...and it totally worked.  And what USD price did you end up with for your BTC? |
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Then you don't understand the hardware industry. ---- Glad to hear your explanation. But please remember, in the design, mining is a zero-sum game. So low-level ASICs have no way out.
Ordinary people are not supposed to mine. Mining is a professional industry. and as such requires special skills to do efficiently. Do you refuse to use a credit card because VISA won't let you process transactions yourself? Well with bitcoin you always have the option, but if you don't have the skills you will be wasting time and money ---- VISA is not a mining agency. It's just a card organization. And you can not process the transactions yourself. VISA is a centralize system but Bitcoin is a peer-to-peer system. They are not the same. My point is it is hard for people to experience the whole Bitcoin process. and it will be harder for people to acquire bitcoin by fiat money as the gov will close the doors.
And my point is bitcoin isn't about mining. Mining is just something some people do to keep bitcoin running. But you seem to believe Bitcoin is pointless unless everybody can mine. |
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It seems like we see a lot of sudden crashes like this recently, and then periods of slow growth, only to lose it in 12 hours or so. We don't seem to see the opposite any more, by which I mean buying that causes the price to soar, like we used to. What is going on?
We aren't in the midst of a hype cycle. |
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Any reason / news story for the drop this morning from $118 to $113?
People were getting ready for the drop from $113 to $107.5. |
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Slightly oversold:
waiting for Heavily oversold +1 |
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Sure, but we'll see it hit 108 first.
Quote. Just 'cause.  Like I said... we'll see it hit 108 before we see it hit 140  |
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Any predictions for price movement over the weekend?
/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/\/ |
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Not for nothing, but i was always under the impression that their units were shipped and in the wild. At least looking at their website, I saw no indication that they were't.
So it's true then, that ASCIMiner essentially controls ALL of the ASIC mining power at this point?
I would say yes... Except for the few BFL jallys in the wild. It is also possible there are other ASIC companies that just aren't public. No one can know for sure. And paying out 1-3% weekly dividends on their stock . |
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I guess those gigantic hashing machines operate all at once. Too much competition. But somehow or other someone will go in to support the prices. Bitcoin price drop will affect the VCs and angel capitals that have invested in Bitcoin projects and they have invested hundreds of millions.
And all of those millions were not converted to BTC. They are being spent on programmers, servers, and advertising. The VC's are investing USD now to earn BTC in the future. If Bitcoin price falls, they just earn more BTC when the future comes. |
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the "nuclear option" : Mr. China hits the sell button on his US treasury billsjust to find out they are worth zilch America has assets. Namely California. It's funny to think about California as an asset when you consider how far in the hole their state government is. |
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It's a common sense that empolyees never questioned the profit of the company even their salary is only 1% of the CEO's bonus Same for money, there is no inflation since those banks pocketed all the newly printed money, for every one dollar of inflation, they pocketed 99, that's the reason even after 4x increase of money supply, there is barely some inflation. Anyway, no one cares as long as their milk price do not rise A 3% increase? When there is 400% increase in money supply Stocks, mortgages, and bonds. Exactly, these are mostly bank's holdings. Print money to support the price of my own assets, is there any business better than that? I agree. And don't forget: If we make a really bad bet, we just have to make sure everybody goes down with us and then the government will bail us out. |
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Let me spread some panic ... I love those bear gifs when the price drops  7150 coins till 110;) You'll have to do better than that if you want to cause panic around here. Being not a bull , and not a bear, I'm just a little padawan in the arts of manipulation ))) But I will do my learning. Hint: Unless you have massive amounts of funds at your disposal, you will not manipulate price. You will never do it by posting on this forum (unless you hugely overexpose yourself using leverage and then brag about it ). |
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my analist predict today under 110$
Your analist..... I'm not sure I want to know what their job entails The analist... lol. He might be pulling his predictions out of THERE. I bloody hope so. I am mostly bought in at $128-129 a coin and my hand is like the iron grip of Soviet Russia. $112 is a good price for me to increase my holdings. Lower than $100 will cause panic. I wouldn't rate it as likely, but if I thought I would panic under $100, I would reconsider my positioning. |
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If it is made a federal felony or results in time at Gitmo
If it ever comes to that, then I'll immediately delete my BTC wallet file and forever deny ever owning any BitCoins. Not worth the trouble. If it ever comes to that, I'll immediately buy a plane ticket to a different country and forever deny being from the USA. Freedom isn't free, but nobody is willing to pay the price anymore. |
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Let me spread some panic ... I love those bear gifs when the price drops 7150 coins till 110;) You'll have to do better than that if you want to cause panic around here. |
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It's a common sense that empolyees never questioned the profit of the company even their salary is only 1% of the CEO's bonus Same for money, there is no inflation since those banks pocketed all the newly printed money, for every one dollar of inflation, they pocketed 99, that's the reason even after 4x increase of money supply, there is barely some inflation. Anyway, no one cares as long as their milk price do not rise A 3% increase? When there is 400% increase in money supply Stocks, mortgages, and bonds. |
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 Seems to correlate well with Google Trends as well. ( link)  |
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That is within normal variance. Yeah, I saw that it can drop sharp but to me as a non miner (anymore) was and still is a puzzle. How do 10% of the people decide to power off their rigs same day  They don't. What I'm saying is that the data can show that dip even if mining power was constant or even increasing. http://en.wikipedia.org/wiki/Variance |
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It's a common sense that empolyees never questioned the profit of the company even their salary is only 1% of the CEO's bonus Same for money, there is no inflation since those banks pocketed all the newly printed money, for every one dollar of inflation, they pocketed 99, that's the reason even after 4x increase of money supply, there is barely some inflation. Anyway, no one cares as long as their milk price do not rise |
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