Quickly can somebody tell me what this is: Exchange Traded NOTE (i.e, troll derivative but I'll still probably be trading it) or Exchange Traded FUND (which means that its actually backed by bitcoins) Say my retirement fund allocates 1% of it's high risk package to BTC. That would no doubt increase the price of the winkelvii stock above the market price of BTC, how do they compensate for that? thats the thing, with an ETN they essentially just issue you debt not backed by anything but... debt. With an ETF they have to actually back it by bitcoins. Now presumably in the case of ETN they'll hedge by buying bitcoins, but still. |
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You people must be outside yo damn minds!  First off, $88 was broken today, which already makes you WRONG. Second, There is no reason to believe it's going to turn around here. If it were, it would have bounced much higher already. Those little recoveries after a sell-off just don't happen anymore. There are now strong wave structures heading down, and they aren't going to be done soon. Last, those who hold will lose at least 40% of their buying power by the end of this Bitcoin Bear market. Those who buy every twitch on the way down will lose buying power. You are only cheating yourselves with your delusions of "$200 within days" even weeks for that matter. We aren't at the bottom because there are still too many people who think it can't go lower. YOU WILL LOSE!  quote author=bitcoin BEAR etc... |
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We could climb up into the 90s sorta signalling an almost-double-bottom which would be a very good thing if the 90 level can be held for a couple days  We seem to be teetering right on $90. A nice little bid wall will grow right there if we are lucky. |
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In my opinion:
Bull Scenario: Bounces up to $100, bounces off and falls down to $90, and holds between $90-$100 level for a bit means that double-bottom is a thing.
Bear scenario: Holds above $86-ish for a day or less, meaning its likely going to fall to $57 and then (hopefully) bounce.
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Panic hold = bad call.. sorry dudes you got hosed.  I don't know, I wish I had panic held through that whole fork fiasco. Believe it or not I was much more worried then than I am worried now, because back then the actual protocol was potentially threatened. Now I believe in case of a bad scenario, goes down to $57, woo, I sat through the crash from $277 I think I can stomach that. I suppose $17 is the absolute worst case scenario which would be pretty bad but I highly doubt it. |
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Its clear we're in a slide, but personally I won't panic unless we break the low at $57 or whatever it was.
why panic when you can buy Becuause if it breaks $57 It'll probably go down to like $20 or something. IMO the support levels are: $85ish (the low following the bounce off $57) $57 $17 (won't actually hit it, likely stay like $20ish or something) Currently I'm thinking a bounce off of $57 is most likely, probably never actually hitting $57 again, though we'll likely see $60. I've been wrong plenty before though so I could easily be wrong again. prices won't go below $70-$75 unless Gox breaks below $88 before they start allowing USD withdrawals again. If it doesn't break below that, we will have a trend reversal, likely a fantastic one. law of demand....as price goes down, demand rises... intro to microeconomics stuff peeps Thats oversimplifying the situation. We are dealing with people's emotions, greed, fear, and their view of Bitcoin. Bitcoin doesn't have any price to earnings ratio, doesn't pay any dividends, doesn't allow you to cash out at any period of time. It can't be valued in any traditional way. The demand for Bitcoin depends on its value sure, but it doesn't necessary increase linearly as price goes down. |
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whats exciting about a currency where 9mil/11mil coins is held by a few 'bitcoin elite' and the rest is scraping scraps
its worse than in the real world
What bitcoin is lacking is a systemic in built toxic infrastructure which was crafted over centuries to perpetually funnel money to the top of a pyramid. So yes, i do wish bitcoin was held more democratically, but this is easily solved by making people want to get their hands on some. But... Once actual economic activity migrates into crypto-currency realms, these economies will suddenly find themselves free of the crushing burden and corruption which the current banking system places upon everyone as it pipes our money up the hill into non-deserving pockets. This is the promise that has so many excited: That with bitcoins, much can be fixed. The current banking cannot be fixed, one can only turn away from it and use an alternative - of which none existed until now. Yup, this is totally true. Bitcoin gives allows early adopters to get a head start and have more money at the start. The existing system allows those born into the right family to not only get a head start and have more money at the start, but also funnel more money to the top for doing absolutely nothing. |
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We must hold 85-86. It is the last significant support in the 80s. After that, I expect to see a small panic down to 70s. Not good.
it looks like it held, for now at least. We could climb up into the 90s sorta signalling an almost-double-bottom which would be a very good thing if the 90 level can be held for a couple days, or we could fall back down to sub-85 levels probably signalling a collapse down to $57, which is obviously a bad thing. Either way I won't be hugely surprised. Or we could be boring and stay right where we are. Yea, this post was probably my least illuminating piece of analysis yet  |
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They could also be setting a semi-fixed rate of exchange for bitcoins. Until they get enough volatility.
You're noobing so bad right now, at the very best its about as fixed of an exchange rate as any of the other 'fancy' etf/etns. Just look at things like the viix, changes multiple % every day even in a 'normal' market. |
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Bitcoinity is looking so nooby right now to me... I'm seeing: 92.59 USD / BTC bid: 98.18 ask: 87.80 WTF, Bid > Ask, and the supposed price higher than both? Literally wtf: https://i.imgur.com/19xXlLa.png |
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Someone wanna explain the implications? Idk, I guess they trying to allow people to buy a share of their bitcoins? The good news: Its essentially allowing bitcoins to be traded on the NYSE (or wherever they list the shares of their trust). The bad news: The winklevoss twins are effectively selling 200k bitcoins, albeit to an audience that doesn't contribute to the market depth on normal bitcoin exchanges. Whether or not Winklevoss dudes want to buy Bitcoins with the proceeds, it WILL effectively allow bitcoins to be traded as people can simply arbitrage between the value of the shares and the value of actual bitcoins. If the price differs too much somebody is getting screwed. |
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Seems like the early comers are into debit cards.
So here's the thing: Do you think that the ability to buy prepaid debit cards with bitcoin would be enough, or does there need to be some way of having an actual floating-value debit with bitcoins attached to it?
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Lol I hope they are trolling |
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Why am I seeing Bitcoinity at $92 etc... etc...
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Something not based on expecting a price jump (i.e, some bigshot saying that he is investing in bitcoin).
Something that will get merchants excited and accepting Bitcoin adding to the stickiness of its value.
I have the theory that once Bitcoin gets sticky, it will slowly accrue !10% value increase each year. Before that, it will bounce up and down a lot, before stickiness is obtained. I have no idea whether stickiness will be obtained at $1000, or $100, or $50, or $20, so I'm not a 'perma bull' based on the current price by any means, but we need something to get that stickiness, and the sooner it comes, the better.
What do you think is the best way of getting merchants excited?
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Its clear we're in a slide, but personally I won't panic unless we break the low at $57 or whatever it was.
why panic when you can buy Becuause if it breaks $57 It'll probably go down to like $20 or something. IMO the support levels are: $85ish (the low following the bounce off $57) $57 $17 (won't actually hit it, likely stay like $20ish or something) Currently I'm thinking a bounce off of $57 is most likely, probably never actually hitting $57 again, though we'll likely see $60. I've been wrong plenty before though so I could easily be wrong again. |
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Its clear we're in a slide, but personally I won't panic unless we break the low at $57 or whatever it was.
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Wow! I have just realized how large these fees are!
Essentially it costs $45 in JUST bank wire fees in order to deposit money to Bitstamp from my US bank account.
~.~
In any case, does anybody know the fees in the reverse direction? If I ask mt. gox to send me a bank wire for $1000, can anybody give me a rough estimate of how many USD I will actually receive?
Thanks.
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"...then they fight Liberty Reserve.."
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Actually they changed the laws so that it is no longer your money any longer, but a debt that the bank owes to you.
That's not a change, that's the whole point of banks. The model is: 1) You lend your money to the band, ie you trade your money for a debt. 2) They then lend the money to someone else. At that point its no longer the bank's money either. 3) Hopefully the someone else pays the debt back with money, and the bank can pay your debt back with money. 4) Failing that maybe some kind taxpayer will pay to make up the difference. 5) Failing that the people who lost your money hope you'll blame the whole thing on the European Commission. Not to ripple bash but this design seems damn familiar How does ripple lend the money to someone else? I see one chain of debt. Sure, its not on the level of Bitcoin, but it seems better than a bank. Closer to something like Dwolla. |
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