Going to $1000 by July 4th. Or Now
I believe. A friend of mine, whom I told many months ago about BTC, said she was praying and God told her, and it appears with a feeling of urgancy, to invest in Bitcoin.  Now that is bullish news!  Is that for real?  Also it would be nice to see 800 by end of June but not real at all. Yes. My friend called this morning. I trust her too based on other things God has spoken to her. It was weird that it was today, the day before the silk road coins are being auctioned. She knew nothing about that. I had to walk her through the entire process because she did not even know where to buy coins. I did caution her she might be in for a bumpy ride. Bitcoin is not an ivestment for those that like a slow and steady ride.  This is getting unreal this spiritual premonition stuff. I am all for positive attitude and hoping for price increases - next someone is going to suggest that their astrologist recommended bitcoin... And that might be the best advice anyone using astrology has ever given! Ok... fine.. at least it is a real story about a real experience that you had. I have NO doubt that you are NOT pulling our leg about something that actually happened to you. Totally true. If you read through my posts you can see I am not shy about my belief in God. Which hasn't won me much popularity on this forum BTW. This friend I am talking about has been a major spiritual "mentor" in my life so I respect her greatly. But I tried to explain all the risks before she bought. I guess that shows a little lack of faith on my part? I think I just want her to have realistic expectations though. Yeah, there are a lot of religious people, including a lot of my friends and family. I proclaim NOT to be religious, yet I try to be accepting and sensitive to some religious ways of thinking. Regarding bitcoin, we can also lead by example, somewhat, yet each of our investment situations are going to be different from our friends and acquaintances, and accordingly, they may need to figure out an appropriate amount of risk for themselves. Therefore, even if we are generally true believers or strong believers or very bullish on the long-term future of bitcoin, we would be doing somewhat of a disservice to people, if we were to NOT provide some of the negative or NOT describe some of the risk. And, bitcoin remains fairly complicated to really understand - though I have attempted to put together an introduction e-mail to help out potential new investors (and I have e-mailed variations of such bitcoin information outlines to friends and relatives for their consideration for investing. Certainly, now seems to be a much better time to get into bitcoin (as compared with any time on or after December 2013), and so in recent weeks I have been promoting the idea a little more than I had been over the preceding about 6 months. |
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That very point has been discussed a few times within this thread in the past week or so.. the point being that the losing participants in the auction are likely to still be interested in coin.... and they will have money to purchase bitcoin at that point or soon thereafter. Even I posted something about that following another post. I mean such a description of the reality of the circumstances also goes with the general reasonable presumption that entities that go through the trouble of participating in this auction and taking $200K out of circulation (to deposit with the USMS) actually have an intention to attempt to win some of the lots of BTC that they are bidding upon... Few of these bidders are probably so daft, as many bear contributors to this thread seem to think, to really believe that they would be able to win many, if any, of the lots of BTC at or below market value on that day. I would anticipate that out of the 10 lots of BTC that three or fewer of those lots are going to go for equal to market price or less, and market price will be measured within the last couple hours of the auction, when most, if NOT all, of the bids are going to be submitted. The bidders are likely going to wait until the end of the bidding period b/c they are going to base their bids specifically on the price action of BTC during the day and at the end of the auction time in order to calculate their bid amount in accordance with that then BTC market price. |
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Going to $1000 by July 4th. Or Now
I believe. A friend of mine, whom I told many months ago about BTC, said she was praying and God told her, and it appears with a feeling of urgancy, to invest in Bitcoin. Now that is bullish news! Is that for real? Also it would be nice to see 800 by end of June but not real at all. Yes. My friend called this morning. I trust her too based on other things God has spoken to her. It was weird that it was today, the day before the silk road coins are being auctioned. She knew nothing about that. I had to walk her through the entire process because she did not even know where to buy coins. I did caution her she might be in for a bumpy ride. Bitcoin is not an ivestment for those that like a slow and steady ride. This is getting unreal this spiritual premonition stuff. I am all for positive attitude and hoping for price increases - next someone is going to suggest that their astrologist recommended bitcoin... And that might be the best advice anyone using astrology has ever given! Ok... fine.. at least it is a real story about a real experience that you had. I have NO doubt that you are NOT pulling our leg about something that actually happened to you. |
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Going to $1000 by July 4th. Or Now
I believe. A friend of mine, whom I told many months ago about BTC, said she was praying and God told her, and it appears with a feeling of urgancy, to invest in Bitcoin. Now that is bullish news! Is that for real? Also it would be nice to see 800 by end of June but not real at all. Yes. My friend called this morning. I trust her too based on other things God has spoken to her. It was weird that it was today, the day before the silk road coins are being auctioned. She knew nothing about that. I had to walk her through the entire process because she did not even know where to buy coins. I did caution her she might be in for a bumpy ride. Bitcoin is not an ivestment for those that like a slow and steady ride. This is getting unreal this spiritual premonition stuff. I am all for positive attitude and hoping for bitcoin price increases. By the way, BitChick.. I am glad that you at least to keep it real for the gal, and to tell her that there are possibilities of ups and downs, and probably, you should also indicate that there could also be a possibility of losing all of her money, even though most adult investors should recognize this possibility. Next someone is going to suggest that their astrologist recommended bitcoin... |
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Are we piling onto Blitz because he's a mod/Hero and made a bad call, and some in here might have followed it? Are we really doing that? When all throughout the last bear market there was page after page of bullish hybris, "buy all you can, never will be as cheap as now!", "we've hit rock bottom. take a loan on your grandmother to buy moar!", by newbie, senior and hero members alike. Yeah, I thought as much.
EDIT: ... also agreed on the windjc weirdness. Don't know what happened, but I remember a few interesting discussions with you. Now it's down to antagonistic one-liners.
Maybe WindJC's account was taken over by an alien?  |
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Personally, I am incredibly bullish. My monkey, however, thinks we're near the intraday top, and sees 4 more days down before a likely bull market starts in earnest. I am following my monkey.
If your monkey is wrong, you better spank the monkey.  |
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Isn't that the same guy who went leveraged long at $660 and is still holding on to it? Not that I don't agree with that chart but he really had an off-day then if he is supposed to be the best day trader there lol. "one of the best" |
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The most hazardous thing about this is that not only do they need the price to increase, not only do they need the price to increase before it decreases, but they also need the price to increase within a certain time. A prolonged sideways movement would kill them as their liquidation price rises along with the interest. Can you imagine the pressure that must be felt?
YOU make a pretty decent point here, Blitz - except it is my sense that the opposite is currently occurring. There is probably considerable concern from various whales that there is pressure for BTC prices to go up near or after the auction... But a sufficient number of whales are o.k. with pushing the price down.. and they want the price to go down before going up.. or to stay down before going up. They want to continue to extract coins in these price ranges for as long as they can... before the price moves upward (which seems inevitable, but a matter of how long it can be kept down). It is possible that whale manipulators can keep the price down, even after the auction, especially if we can get some more FUD or some more news that causes hesitation and they can exaggerate and manipulate that news for a while.... so for example, if we could get another US Marshall's sale of 144K coins in the near future.. then that may also help to generate additional concerns about how well the BTC market is going to absorb those coins... or maybe there will be some China news that can be worked (though that kind of china news does NOT seem to be working too well, recently). Anyhow, my point is that there are ways to attempt to manipulate and keep the price down for possibly a few more months at the most?.... and at some point they won't be able to hold it back anymore.. and that is when we will get our CCMF... ... When exactly, though, for the CCMF, is really difficult to gauge exactly when and how far up it will go, but it's gonna be coming to a theatre near you.. |
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So who are you going to listen to?
No one. Ghost busters!!!! |
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Interesting tidbit for many here: "They make the obvious prediction that the Bitcoin will be sold for under-market value" Are you guys going to be flaming the Bitstamp owners now? Just b/c they hold certain status positions in the bitcoin space does NOT mean that they are correct in their prediction(s). We will probably know at the close of business on Friday or possibly by Saturday whether they were correct, or NOT. |
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All human systems will be gamed.
A quick ride to 800 is not all that unlikely, after the auction. It is major resistance after all. I would expect an initial continuation of the down-trend, as those who want the auction to pump the market are disappointed, and give up. When they are done, and the fiat is warmed up, then the upside will be seen.
Look at the last two swings. The upswing was quite rapid, and the downswing relatively gradual. Most people are trained on equities. They know that bull markets are gradual things, climbing a proverbial wall of worry, while bear markets are panic driven, often rapid, sometimes sudden. But in pair trades like BTCUSD, either component can be in a bull or bear market, so inverting the chart, we see that the current condition is characteristic of a bullish swing in USD, following a quick bearish swing during the latter part of May. I would not extend this interpretation to the November spike because the topping phase of a hype cycle is a very different dynamic, with different motivations.
What I draw from this is that holders of BTC have a need of USD. Given the volumes we are seeing, it might even be that a single seller is driving the trend. The 500/8hr guy finally succumbed to his wife's insistence on diversifying into u.s. equity mutual funds like all the "wise" financial advice (propaganda) would insist. (Sorry dude, you are doomed now, unless you can hold those funds until 2040 and USD can last that long.)
I don't think the USD bull market can last much longer. USDJPY is certainly turning. Very different dynamics, of course, but post-SCO outlook for USD is changing rapidly on several fronts. Faith in ECB persists while faith in FRB is flagging. Trade is being re-denominated (and simultaneously shrinking) so that US fiat exports face lower demand. RMB floats in 2015. Iran is exporting a lot of oil to China now.
I'm simplifying for brevity, telling a story by telegraphy.
Who cares what you think? I wanna know what monkey thinks. |
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Reading about mmitech issue makes me wonder...
How do the Muslims deal with banks? Interest = 0%??
serious question.
If I understand it correctly , Muslims are not permitted to earn interest on money, this is "Riba" and is forbidden. What they can do is receive rent for an asset they own - so a Muslim may buy an apartment, a physical good, and receive rent for allowing someone else to use it. Given that bitcoin is not a physical thing on which one can earn a return I would have thought it was a bit of a grey area for Islamic finance anyway. Equities are ok as are securitizations as in those you buy the right to a series of cashflows that derive from a real asset, bitcoin hmm, tricky. Yeah... the IRS rule clarification may have helped to declare bitcoin as property rather than as a currency... but in any event it is very conflicting to weave through the incorporation of such a practice in the modern world while maintaining various financial investments. |
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This thread is becoming unbearable
if people like shroomskit stopped bashing on every analyze or a prediction or a question and simply not take everything personally this thread would be cleaner, but well this is what happens when the price is not moving. as I said before, Bitcoin needs bubbles for its survival, if that doesn't happen soon, the community will simply kill it. What do you mean by: "the community will simply kill it"? He probably means that the community is so addicted to bubbles that they need another one soon or they start suffering from bubble withdrawal symptoms and die as a result. You can just look at mmitech and already see the early symptoms. +1 hehehehe... mmitech..  if you can figure any of that out |
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So we're stuck at 569 until Friday then?
supposed to be 567, don't you know about numerology? |
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That double bottom though  Eh, second bottom slightly lower than first. Plus this happens all the time and another dump puts us lower. Double bottom does not work with bitcoin. Double top usually does. I thought that we had a consensus that BTC prices would be flat and/or tending downward until about midday Friday... then thereafter, we would either get gradual upward movement or sharp upward movement in prices. The sharp upward movement in prices scenario would come in the event that the SR auction brought news of winning bids much above the then market rate. |
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All the other potensial bidders will now think: Gee, that low! Well, we can go lower! So offensive, much logical. They will only think that if they do NOT want to win the coins. If they want to win the coins, then they will think the opposite - and that is: In order to win the bid, I am going to have to bid at least more than 85% of market price. No one who wants to win, will really expect to be able to win for less than 85% of market price. Additionally, once they are into registering and tying up $200K for at least two weeks, they likely have intentions to attempt to win at least one of the lots of coins. |
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Don't know if anyones mentioned this or not, but maybe all the buying that would normally be taking place right now is on hold because they are waiting to see if they win their bid, if they don't they will go back to buying. So, if im right, that means after the bidding is done, we will see a massive spike because the big buyers will be back to buying and not trying to win that bid that costs millions of dollars.
If they do NOT win the bid, then it is probably pretty likely that the money that they had for bidding has been allocated for BTC purchasing. |
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Anyone else notice how all the bitcoin high priests and cheerleaders have been conveniently absent for the past couple weeks? The exponential log charts have been tucked into suitcases and the purveyors of these bitcoin pipe dreams are heading onto the next big thing. Makes you wonder... all of us still holding... are we the bag holders afterall? Ask yourself that question, you've been one of the biggest bitcoin cheerleaders lately convinced the price was going to explode upwards. Funny how these types are the first to lose faith and do a complete turnaround. Better let go of that heavy bag of yours and let someone take it who can handle it and have more realistic expectations of bitcoin. You might have me confused with someone else, friend. I'm typically pessimistic or mildly enthusiastic at best, but my outlook changes on a weekly basis. I honestly can't remember all that I've written in the past, but I've never promised anyone riches and if you look back enough, there have been times that I claimed we're all late adopters and missed the train. I'm feeling that way again now. I don't think so, here are some of your own posts lately: I think it's pretty clear that we're going to remain flat or slightly downward for the next few weeks or months. There are way too many market players who -- for whatever reason -- are doing their best to keep the price low. It doesn't matter. Within a few short years, anyone holding 10 bitcoins or more will be able to retire and live out their lives on a tropical island if they so choose.
According to the logistic model, we'll be there by the end of 2015. Anyone who owns at least 5 coins now will be rich by 2016.
Even the most vocal haters are coming around and embracing bitcoin. Yup, this next rally is going to be epic.
But the strange thing is, you seem to lose your entire faith in the above whenever the price is going down a bit: has the exponential growth trend broken? Maybe it's seriously time to re-assess the future of bitcoin growth.
And now you seem to be losing faith again. Please make up your mind and grow some balls. +1... thanks for that Miz4r....  |
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