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seriously though. this is a bit out of control. they have just outed the largest bitcoin holder in the world. hope he has his cryptography tuned and ready 'cuz newsweek just put a big frickin bullseye right on his 50 square meters of the planet.
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I think it is despicable journalism. That much said, the so called human interest angle of this is going spread this story like wildfire. very catchy, easy to tell, good headline. it will completely displace the Gox narrative in the MSM and there will be a slew of stories on bitcoin and the reclusive genius creator ....
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Auroracoin up 40% since this morning & still on a tear  Wow, buying Auroracoin must be one of the most ingenious methods of donating money to the people of Iceland as possible. I had no idea there was so much love for Icelandic people!  : -) well, they are nice folks. but i think it is an interesting social experiment also, especially in light of what happened with their banks and currency during the big collapse a few years back. just another tendril in the crypto revolution. |
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ummm, no pump necessary. it's doing fine on it's own. save your grumpiness for someone else.
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Auroracoin up 40% since this morning & still on a tear |
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Incredible.
Four pages of discussion on the future of Bitcoin and not a single one of you has made mention of infrastructure progress or worldwide adoption status. That blows me away. Allow me to say this once and for all, to all of you "day traders""
THE ONLY THING THAT MATTERS WHEN IT COMES TO THE FUTURE OF BITCOIN, IS THE INFRASTRUCTURE AND ADOPTION GOING ON AROUND THE WORLD.
Let that sink in. Please.
If you aren't an expert on whats CURRENTLY happening with Bitcoin on a daily basis around the world, then you know *nothing* about Bitcoins future. It doesn't matter how good you think you are with graphs and charts and sweet trading jargon. You know absolutely nothing.
It's always the guys with fewer than 100 posts saying how confident they are that the Gox thing is the end of Bitcoin. You hopped on board when BTC was at $1,000 because you wanted to ride the highs and dips. Make a quick buck. You did very little learning about what Bitcoin is, and as a result you have zero confidence in its future, and no interest in the things which are true predicters of its long term success (adoption/propagation/infrastructure).
Anyone who actually believes that Bitcoin is not going back up, has done zero research on Bitcoin's activity around the world right now. To me its just absolutely insane that there can be 4 pages of discussion on Bitcoin and not a single mention of this. The foundation to the current $550 price is because speculation is going down, and a substantial base is being built. Why didn't Bitcoin die already? How bad can the news get? The whole world thinks Gox *is* Bitcoin and Gox is dead. What lunatic believes that a $550 price after that news is not substantiated by anything?
There is a whole world of Bitcoin adoption going on out there. A whole world of hundreds of startups being created that provide financial services related to the protocol. What are they all going to do? Just drop bitcoin and throw it in the trash? After years of planning and learning the system? Experiencing its benefits and power? You don't understand human psychology at all. Anyone who looks only at the Gox situation, has blinders on. And has absolutely no clue what Bitcoin is doing around the world right now. And no understanding of Sociology, psychology of populations, or marketing.
Mark my words. Bitcoin is going back up. The fact that I even have to say that is astounding. Its so obvious.
This has been my mantra from the start: When I start to see the adoption levels decreasing, and infrastructure falling apart around the world, then I will begin to consider the downturn of Bitcoin. As it stands, adoption levels are at an all time high, and infrastructure is as well. How anyone can poo poo the Wall Street investments coming in the next month via SecondMarket is bewildering to me. "ehhh. might help. im not convinced though". LOL .... wow.
-B-
+1 |
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none of this matters, because $100 bitcoin will happen soon
your same shit in every thread is getting old. first time i posted here actually like i said. you are taking the same shit in every thread. "100 bitcoin happening soon." if you think that, post an escrow bet offer. otherwise put your tail between your legs and slink away. |
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these previous 2 posts reflect in a nutshell the current market standoff: those who are looking backwards, and basing their estimations on the past, and those who are leaning forwards, basing their estimations on an assesment of the future.
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none of this matters, because $100 bitcoin will happen soon
your same shit in every thread is getting old. |
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IMHO There is not a hope we are going to see 620 any time soon. Monday 10AM Japan time a phone number will be very busy crushing hopes (or worse, giving false hopes and prolonging the agony) and making headlines that will possibly give the market an excuse for next drop.
Mr. American Joe Goxxed has suddenly discovered the risks of trusting some website with his coins and money (no matter how popular), and won't likely touch Stamp either, because it is another foreign exchange, or BTC-E that is run by whothefuckknows*.
Other selling forces are hodlers that bought above current price and are slowly losing hope. Oh, and bitcoin thieves (likely including MK himself).
OTOH thanks to the recent headlines, some people just awoke to the idea that bitcoin is worth shit. Bullish! Blockchain.info is at 1.3 million wallets and still growing. New waves of people will enter the game in time, maybe with a small sum on Coinbase, because whynot, but only when they will think the price is right. Everyone wants to catch the bottom and most people miss it, of course. My friends who do not have bitcoins say now they would buy at 100-300. So based on sampling their opinions I expect a painfully long bottom somewhere around 350.
I'll be a happy person if this post proves to be wrong because I hate long downward slides. I am facing my own fears and greed.
* Note: This is not a stance against anonymity. You can do what you want with your money as long as you accept responsibility for your potential losses.
Yep. exchanges been on fire all weekend long with people losing hope & cashing out. |
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Glad to see some good charting and discussion going on. I would like to hear theories on
1) how much the pall of the gox bankruptcy, reduced liquidity (especially on bitstamp, where it seems to me that 10,000 dump is still clearly showing its wake, even days later) skews the TA.
2) what are the motivations / seroiusness of the heavy bid walls both above and below the current price point, and how motivated they are to hold ground in the face of market movement.
3) when movement does come, which exchange will lead? BFX seems to be full of people chewing at the bit. Stamp seems lethargic and illiquid. Huobi seems to be following its own drum of late.
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He's up for re-election this year. I'm willing to throw some BTC to anyone running against this idiot. Someone in the States should make a quick video for the Jon Stuart / Stephan Colbert "Let's flip a district" campaign.Wouldn't that be great if he got lampooned for this. |
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Last paragraph, he says "weary" instead of "wary". So the article is either FUD, or both a US Senator's staff plus the magazine staff cannot proof a one page letter to the federal government. Don't know which makes me more weary and wary both.
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I am certain that it will go back down again after this rally, but even so you are missing out on 30% profit by continuing to wait till it goes back down to the $200-$300 range? It might go back down to that price range, but I assure you it will not stay at that price point for longer than a day.
I don't like to play these unstable rises that are made up of stupidity and hype. To me, it's the same as passing the roulette table and cursing at yourself "If I should have called red at the moment, then I could have won big". Sure it would have been great to win money, but I'm not planning to earn with playing like this. except a large percentage is not stupidity and hype, but real world market influencing events and conditions. |
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I think a lot of the good news over the past month that people say 'didn't affect the price' went like energy into the coiled spring beneath this rally. And is now being released.
One thing about bitcoin is the enormous schism between users / investors / believers and the MSM. Users and investors have been definitely noticing this stream of adoption and development, and recognizing all the good news - the increasing mainstreaming of BTC is quite unmistakable. But the deflating bubble + Gox has not allowed translation into the marketplace.
In addition, the 'good news' this week is nothing short of remarkable. An end in sight to the Mt Gox debacle. Possible reduction of the total BTC in circulation by a significant percentage = scarcity. Reduced threat of Gox coins being suddenly dumped on the market. Support from Larry Summers. Coinbase breaking records in new users. ATMs sprouting like mushrooms. Neo bank opening in Cyprus. SecondMarket in conversations with authorities & players about fast tracking new exchange in NYC. Extrordinary remarks yesterday from Benjamin Lawley about how the Gox insolvency demonstrates the need to move quickly ahead with clear legal guidelines.
In addition, the more one moves into the vertical rise of an exponential pattern, the gaps in the oscillations become more compressed.
So yea, rally surprising. But maybe not entirely irrational.
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doo bee doo bee doo bee doo
- Sinatra
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Bitcoinbuilder withdrawals are now in the blockchain.
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rub your eyes and look. only two visible walls at the moment between 614 and 1000 on bfx orderbook.
edit: that lasted about 2 minutes ....
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bunch of big walls in the low 600s just got pulled from the bfx book
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Many long-term investors who are not bitcoin enthusiasts probably have not heard of MtGOX's troubles until now. As those news reach them through the media, some of them should sell their coins and leave.
gotta say i think approximately zero long term investors have been unaware of the Gox situation. i think this kind of analysis is seeing things from the outside of the market, like the mainstream media are doing with their reporting, and completely misses the actual dynamic of what is taking place. |
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