Just the other day i received like more than 10 security updates on my WinXP install...
How many times did you have to restart?  |
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First most people do not and will just never understand Bitcoin at all. All they know is that some people keep telling them it is a crypto-currency, and that it's secure, and that it's p2p, etc., but these assertions are near meaningless to most people, as are the technical details of how it works. this is precisely why it doesnt matter whether you call bitcoin money or not. most people dont understand monetary policy or the mechanics of money and they still use it because it is functional. whether people understand it or not bitcoin allows people to engage in finacnial exchanges across international boundaries without interference from government or corporate entities. you cannot do that by any other means at present. Right, except the "most people" you are referring to in your post, that don't understand "monetary policy or mechanics of money" are also people who don't give two shits about international boundaries or interference by corporate entities or cryptocash. That adds nothing of value for the majority of the public (in their perception). |
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This 'manipulator' talk is hilarious.
There is no "manipulator" unless manipulator = anyone who wants to make money.
Somehow I think that if I increased my current investment 100-fold that I, too, would be "The Manipulator."
Unless there's some guy in his basement wearing a cape with a huge "M" on the back of it.
The manipulator is a bad trader's excuse for failing at the market. |
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The question is very interesting. In my opinion it is a matter of adoption. People are trained to work in exchange for colored pieces of paper. They are accustomed to it (although they protest this custom). Now comes a guy telling you to 1) go to a website (fine) 2) download a program (fine) 3) install the program (ah, hm, well, ok) 4) keep your antivirus up to date (what is antivirus ??) 5) secure your wallet.dat (my WHAT ??) 6) backup your wallet after creation of new private keys (whose private parts  ?) 7) tell your employer to pay to account number (what is that funny string meant to be ??)  not to turn your pc off but to let the bitcoin program shut down properly first ( ) 9) think about wallet security (what ??) 10) update the bitcoin client once in a while (aha ?!?) and finally, when the money is stolen or lost, that it is your fault since you did not properly backup your junk or kept your system secure. Ok. I'd also rather have my colored pieces of paper. We must solve the usability issues of Bitcoin for the end-user, who is not a computer person. I don't work for pieces of paper, I work for numbers sent to my electronic bank account. This should be easy for kids these days: (Regular money - bitcoin) 1. Sign up at this website (BANK X - Web Wallet Service) 2. Get this number from the website (Routing number + account number - bitcoin address) 3. Give the number to employer 4. Do work, get paid 5. Go to website, send money to pay billsBANK X scams all your coins and you are left with nothing and no recourse Fixed that for ya. |
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Exactly. Need to keep moving if you wanna keep up. Just buying and leaving them sitting there isn't a good idea at this stage. I won't be going all in until I see clear signs of a reversal (and not just another bounce). Market like this means time to play, lot of opportunity to make money still.
IMO going "all in" is another horrible strategy. TA, which you appear to practice, is simply a way of estimating probabilities of direction over timeframe. If you go all in and you're wrong you have no outs. A single fundamental event outside your control could destroy your ability to play another hand. In other words, that poker-inspired strategy is just as bad as buy-and-hold in a bear market. Of course, nothing is as bad as a 100% all-in falling knife catch, but I don't believe anyone is dumb enough to do that. You're right, the traps can be tricky. I'll have to sit down and seriously think about my breakpoints and my limits. I don't see a full reversal happening until after the holiday season so I haven't put much thought into it yet. |
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Right on. The future of btc will hold good things, but for the moment I'm short btc. I don't think we are quite through the denial phase/panic selling stage. All it takes is a few people cashing out for the holidays/black friday/whatever.
I've been saying that we're not out of the denial phase myself. At this point I'm seeing capitulation at $1.25. It will be confirmed by a crash in deepbit hash rates. A 20% reduction in hash rates from the peak is not capitulation, that's just a few bulls turning bear early. If we keep slowly leaking hash rates and price instead I'll adjust my capitulation target accordingly. If we somehow lose 80% of the hash rate at $3 instead I'll adjust my bottom call upward. We shouldn't see capitulation until the long thanksgiving weekend and/or christmas and/or new years. Longs have been severely punished during long holiday weekends in the past and if that repeats during end of year holiday season we may finally be done with the bubble deflating phase. So far my calling the previous $4.20 support a new resistance (and by extension this month's stagnation target) level has been more or less correct. The big question is: how low will it drop next month? Even with a 10% difficulty drop we're still pretty close to power cost for most miners, a $1 drop could result in losing massive hashing power for months while difficulty adjusts. This is pretty much exactly what I see happening short term. With the market going the way it is, I just don't see a reversal happening, we are barely holding to 4 as it is, just like with 5. |
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It won't be here in 10 years, and you are a libertarian.
Wanna bet? On both or either? Has to be in BTC though. Who's sucker enough actually be holding bitcoins at the moment? Correction isn't over. Wanna bet? On both or either. Bet has to be in BTC though. I make market related bets on bitcoinica, not against random internet forum users. Maximizing my profits, can't stand to have bitcoins sitting around doing nothing  Good for you! Right on. The future of btc will hold good things, but for the moment I'm short btc. I don't think we are quite through the denial phase/panic selling stage. All it takes is a few people cashing out for the holidays/black friday/whatever. |
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Don't mess the place up too much, guys. I plan to vacation there in a few month. Just remember, this isn't football (soccer) related  They get pretty nasty across the pond. http://www.youtube.com/watch?v=J_I5qggUEms |
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As a side note, I don't think bitcoin ever really reached $32. I know there were some legitimate sales at that price, but that was during a frenzy when scammers were offering high prices using paypal. Since they never intended to pay they could offer $30+.
With less typing/clicking than you did in this post, you could have proven yourself wrong. |
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or.. you miss the train and need to pay a much higher price to catch up...
The only ones with a NEED to buy are those who shorted on bitcoinica with a 5:1 margin. They deserve their loss. The rest of us can hedge our BTC sales by buying mining hardware if we choose to. It's just that I feel there are way too many bitcoin bulls for $4.20 to be anything but a resistance level. Besides, why do I care if I used to buy at $3 to sell at $3.30 and it jumps to $100 overnight? I'll just buy at $100 to sell at $110. Buy and hold is a *horrible* strategy in a bear market. Exactly. Need to keep moving if you wanna keep up. Just buying and leaving them sitting there isn't a good idea at this stage. I won't be going all in until I see clear signs of a reversal (and not just another bounce). Market like this means time to play, lot of opportunity to make money still. |
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It won't be here in 10 years, and you are a libertarian.
Wanna bet? On both or either? Has to be in BTC though. Who's sucker enough actually be holding bitcoins at the moment? Correction isn't over. Wanna bet? On both or either. Bet has to be in BTC though. I make market related bets on bitcoinica, not against random internet forum users. Maximizing my profits, can't stand to have bitcoins sitting around doing nothing |
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"Now they work for us!"The average Joe six pack would say NO WAY we will default and not work for them. I would say OK however look at everything you own I'll bet most of it comes from china. Since you don't want to pay your debts they will not accept your paper money so you will have to pay them with something and what they want is gold and silver. Since they have it as savings and you don't guess what you have to do to buy stuff they make? WORK FOR THEM! I am sure Joe 6 pack will go into a tirade saying THIS IS AMERICA as if greatness is a birthright that's not earned. http://www.youtube.com/watch?v=2PiXDTK_CBY(wall street suits laughing, drinking, and waving while protestors walk by) Replace tirade with revolution and you've got it! |
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Wow, didn't realize how many libertarians were here. That's...unsettling.
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It won't be here in 10 years, and you are a libertarian.
Wanna bet? On both or either? Has to be in BTC though. Who's sucker enough actually be holding bitcoins at the moment? Correction isn't over. |
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We won't see a rally. If there is one, you will see lots of people dumping their coins once it rises enough. Miners who are holding for a better price (most just watch for peaks). Speculators who bought in at the last dip will be looking to unload their tens of thousands of coins as well. Same pattern as always, slight rally, everyone dumps their coins, it find a new low, goes back up a bit as people buy in expecting a swing, it swings, people sell their cheaply bought coins. There are a lot of coins out there waiting to sell the minute the price starts going up a bit, because the past few months have shown that a price above 5 dollars is not sustainable. It's beginning to look like 4 isn't either, time will tell.
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Λυπάμαι ηλεκτρικό βλέννα, αλλά δεν μιλώ ελληνικά. Τι ήταν αυτό; Orders confirmed. Initiating Alpha Phase. |
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The massive 10000btc wall at 5 is gone now. The Manipulator seems to want it to drop into the $4-5 range.
He's just following the market, it's likely to dip below 5 at some point so why not soak up some more bitcoins for the money? |
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So if someone came up to you and told you to "fuck off" or I'm going to " punch your mother in the face" you would walk away?
Yes, or just laugh at them and carry on with what I was doing. It's just words. It's a part of life, people are gonna talk smack, if you take offense to it it just shows insecurities or a fear that the shit talking is valid in some way. |
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Neither SA's wonderful bitcoin thread nor your explanation are really helpful in solving the mystery, so I'll wait till Atlas himself talks to me!
SA members who are on this forum and have made it a 3rd world forum have no concept of being a grow up. Just look at my post history in the last 24 hours. Honestly from your posts and history, you look just as bad as this invisible enemy you are campaigning against. They want attention, you are giving it to them, and making yourself look like a tool in the process. Good luck though. Somebody has to respond to them looks like you are to weak to handle that part of it. I'll do the dirty work for the forum since nobody else well. You don't have to respond to them. Think of it this way. If a puppy comes up to you and starts jumping on you whining and pawing, and you want it to leave you alone, do you sit there and start poking, prodding and talking to it? No, you ignore it and it gets bored and goes to bother someone else. |
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