First, let's define commodity. A commodity is a subcategory of "goods."
So how do you define a good? Is the Euro a good too?
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Did you initially mean the very short term one in the 4.20s? Let’s see how all of this plays out.
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DID I HEAR DOUBLE BOTTOM?
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without long-term bulls like you guys, the price will crash to 0.1 or lower instantly. I'd like to say thanks. Because of you guys, I can continue to sell the coins I mine every day.
You’re welcome, enjoy your full subsidy until Peak Bitcoin (end of 2012 I expect). Please continue regularly dumping at market price so that long term investors get better deals, and the coins get spread to more people. Thank you! Also, I just added a chart for my technical picture in the OP. https://i.imgur.com/U8uDh.png
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No, from 1$ to 0.5$ to 30$ to 4$. I have made my gains (and took them).
Perhaps you are in denial that Bitcoin might indeed work as a store of value? Perhaps you are in denial that you could be wrong on this one? Downtrend to zero, losing 4$ a month, eh?
Here’s a statistic for you:
All of 2009: practically worthless Oct. 2010: 0.06$ Oct. 2011: 3.98$
According to you, it will go back to near worthless. Explain why.
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I am a Long-Term Bull. 1. Fundamentally, the block chain technology is the first system in existence featuring a technologically enforced, pre-defined monetary policy which cannot be manipulated. After almost 3 years, Bitcoin is still king of the block chains. In the long run, it trumps fiat money because of its decentralized nature. It trumps precious metals because of its digital nature. It’s also near impossible to counterfeit, unlike Gold and cash. 2. Chart: https://i.imgur.com/U8uDh.pngTechnically, the divergence in RSI since August continues (no new low in RSI for the second major time, while price again did a new low). Same with the MACD. All this despite huge sell volumes. The bears are losing control just like the bulls did when price got to 30. 3. Sentiment seems almost completely destroyed, judging from recent polls. Everyone is expecting this thing to fully crash. I have cash – I always turn into a closet bear when things look bad short term to gather more Bitcoins. I will continue snatching up coins. Our kind is almost ready to take over this market. Why are you a Long-Term Bull?
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I’ll just assume you’re not a troll.
Seriously, just dump all your coins if you have no trust in Bitcoin. The problem is exactly that people like you haven’t capitulated yet.
Want Bitcoin to recover? Dump your coins. Want free money from the mining? Dump your coins.
And please don’t buy them back until you have faith in Bitcoins. Thank you.
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If this screen of yours is genuine, then by all means, do SELL SELL SELL. Get out, and stay out. Weak hands are not needed.
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Since "The Manipulator" postings are welcome here, I too will share some analysis. Let us first review how the old analysis played out: https://bitcointalk.org/index.php?topic=18471.msg233319#msg233319As we can see, BTCUSD has indeed had a major trend reversal. The snail pattern was an indication that the reversal would come very slowly with excruciating weeks of "price stability", for example at 17 and 14 USD. As the months passed, though, we have left the snail behind us. Today, I see another pattern I would like to share: Looking at the MACD it becomes apparent that we are currently undergoing a BIRDISH DIVERGENCE (as can be seen on bird I in red). The MACD with the stretching wings indicates that the bird is ready for liftoff, which can serve as a leading indicator, because the bird in price has not yet followed. More importantly, we are currently in a trend change from SUMMER to AUTUMN. As soon as autumn comes, it will force the birds to take off and head south, possibly having great influence on the Bitcoin price. Furthermore, bird I and II are mating, making a great quantity of future birds a strong possibility. Initial target is 35-60.
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I believe so, but I’d like to deposit Bitcoins for that purpose over a longer term. Do they lend from their own reserves? Otherwise they must be fractional reserve.
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… offering short selling and paying Bitcoin depositors a bit of interest.
Are there any? Thoughts?
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A more bullish sentiment does not directly indicate a bullish price forecast. In contrary, when sentiment is very bullish, most people are already invested and that’s why it can be a sign of a reversal. For example, I bet that when we made the 4.18 low with 200k+ BTC volume, almost everyone was feeling very bearish.
When I see most people here go crazy, like many did before that awesome conference (that was at a price of 11+), I begin to feel pretty bearish.
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Well, that played out nicely. The drop in silver is madness. Congratulations to you for your prediction and probably short on Gold. Now time to stock up on Bitcoins. This cheers me up a bit, as I have watched the rise in Gold during the last months with disappointment, while Bitcoin continued its decline. Though Bitcoin until now seems unaffected by everything and a completely detached, independent market. It could be the ultimate hedge, especially when its inflation rate decreases to bearable levels. Will be interesting to see if deflation will decrease Bitcoin’s attractivity.
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I’d say that they have a great percentage of BTC and USD funds though.
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Holy crap it starts collapsing!
Sell your Bitcoins ASAP.
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I get 100 BTC/BTC by December?
RALLY!
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a few recent bullish factors: squashing of the alt chains, Gavins patches to prevent similar vulnerabilities like DDoS protection and Geist Geld fix, bottoming out in sentiment via selling capitulation, Congressional mention of Bitcoin.
How about this: http://www.sibos.com/conferencedata/pages/session_details.page?sessionID=session_2455aa96-7a25-4fa3-89eb-f24f8fc0ee16Personally, I’m already up now from where I was when the price was 10$ (where I sold and bought multiple times on the way down), thanks to the bears who donated me coins. Let’s see if this can develop into something bigger.
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Indeed, forget price stability for a few years.
Ideally, Bitcoin will just rally strongly in bursts over time, until it is valued in 3 or 4 digits, when it should get much more stable due to a more mature market. I imagine that Bitcoin will first have to prove its utility as a store of value, and from there can be used as a genuine currency – as unit of account.
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