You are looking smart now because it isn't getting back to $160 anytime soon. And I bet you bought back 3x as much at 50.
Well, if he bought at $50ish that was a badass move. Not easy at all to catch the bottom. |
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Using my primitive trend detection skills I drew a picture...  as everyone knows our nice huge beautiful triangle has been breached to the upside. Upper bound (1) needs to be redrawn (line 2 is an example, can also be drawn differently). Not so nice-looking any more. I tried to draw some possible trends: - small green channel: to enter short-term (3 day) uptrend we need to break $125
- red channel: to enter short-term (7 day) downtrend we need to break $80
- big green channel: to enter mid-term (4 weeks) uptrend, we need to break $166 (I didn't draw the green line for this one)
we might not enter a clear trend at all and just smurf along in the yellow area. I say yellow or small green. Don't think we're breaking $80 in the next 7 days, that would be too good to be true  |
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A lot of panic buying/selling. Trust your gut and stick with it.
Be careful with "trusting your gut". This is also known as a system 1 thought or a reflex reaction. Read "thinking fast and slow". It's very easy to be fooled by incidental and unsubstantiated information when using system 1. This is partially the reason markets behave the way they do. People are pattern seeking machines and with limited information, we can create convincing "patterns" from insufficient information. Think making a judgement from a data set of 2. Flip a coin 4 times and expect a 50/50 result; false. So, my point is, look at fundamentals. The fundamentals of bitcoin are unique so you really need to think about it, but they are there for the most part. Fundamentally, bitcoin has a lot of room to grow; think global currency. Think math based currency banking adoption. Think simplicity your Mom can use and the level of adoption at that point. Think regulation and the complexities of effect then. Think efficient exchanges. Think VC investment. Think Ripple. Think traditional payment system integration. Well, fundamentals says: long term 1 Bitcoin can only go to 0 or to hundred of thousands $. There's really no other option. |
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anyone care to speculate what happens to all the orders from 80-90ish down to $10 if we don't start heading that way in the coming weeks?
My understanding, mostly from reading this thread filled with comments from bitcoiners who've been around longer than myself, is that cheap coins are wanted.
If cheap coins slowly become less of a possiblity, does this make expensive coins more attractive, or the price too high and fiat preferable?
I will just tell you something: we were buying $15 coins in January - and still placing our bids below spot to get "cheap" coins during dips. Just 5 months later we want "cheap" coins in the $70s... Or.... Well... $90ish is cheap enough. Take your own conclusions EDIT: if I was not clear enough, bitcoins are always preferable. Fiat's only use is to get cheap coins now that we can.  |
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The currant BTB market = people selling, people holding, and no one buying - that is an objective observation.
Why should people buy BTB?
Is it actually solving any actual problems?
What is it's role in crypto?
I would like your honest answers, please.
BTB has a place among the ones that are so fool to believe that missed "the early adopters" train for BTC. They are so fucking stupid that they do not realize they are still early adopter, because Bitcoin has such a huge potential and it's still so tiny, than it can just go bust or grow many orders of magnitude. So, this is how it works: greed fuels the need to be a super "early adopter". Scammers best friend is fools greed. The scammers release a new cryptocurrency which solves absolutely nothing and which only purpose is to get profit. This alt crypto is premined HARD, a couple of folks get the m ost of the coins that will ever exist, and they promote their ponzi hard. Fools rush to be the "first in", but the fact is that they are very late to the party - they are the very last in, as 95% of the coins are in the hands of the "developer" and his folks. Everybody wants to be part of the "pump". And as soon as the coin reaches a major exchange, the "developer" and his friends finally dump all his coins, making BTB worth 0. Answering more concretely to your question: BTB is solving a very important problem. The problem is "how do I take fool's money as quick as possible"? |
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Conservatively I see a price between $136 and $142 as the short term high....from there we go is anyone's guess.
Hey, did you hijack Smoothie's account? I want my uber-bull back. Please give him back, I will pay ransom money, whatever. Otherwise I will have to sell everything I have and throw that money to BTC. |
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My my, a non-ultra bullish smoothie?
He must have some fiat to spend. Man, Smoothie is bearish, this can only be a bullish signal, BUY BUY BUY Jokes apart: how is it that today's coins are cheap, but the day after tomorrow coins are expensive? Was not the sky the limit? So who cares about 10%, 20% or even 30% difference when defining "cheap" or "expensive"? OP: We are probably at 2,000 kilometers of distance and I can smell the crap in your pants. You just went all in today and you are delusionally hoping that you will be able to talk the price up? Good job, bro. |
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Ok, i did market orders only today. I'm tired of trading this thing. (i was waiting for a re-entry point since when i sold everything at 110, i kicked myself not to have bought at 78$).
I bought at 122 and sold at 119. I bought again at 121 (5% of losses only for this move?).
Cashed out to a paper wallet, i don't want to see mtgox again for the next 2 months. I reached the 0.29% trading fees, they want me to get addicted. I have other things to do in the meanwhile, the only choose was between staying all in or all out.
Bitcoin conference, lot of positive media reviews, lot of buzz, 40k btc on buy orders from here to 100$, i don't think that this will be another 2011, but this confidence should tell me that maybe everything is out there to convince me to do the wrong choice.
We will see, bitcoin. 2 months from now, we will see.
This change of sentiment by one trader is entirely consistent with the steady drop in volume after the April 10 peak. For the record: I've changed my sentiment over the days too, I've had pretty much the same process as cedivad. Yeah, at the beginning I was quite sure of Bearapocalypse 2011 reloaded - but from one side I saw how I predicted lower bottoms than the ones we actually reached - every time. That made me think, there was not so much panic in the air. Then, I make the same analysis as cedivad: lots of good buzz around Bitcoin. Yes, speculative trading has patterns that repeat themselves over time; but we have to acknowledge that everything around bitcoin (work done in infrastructure, positive news attention, investments done in real economy) is very different from 2011. I'm a moderate bull ATM. I'm pretty sure that $50 was the bottom for this year - and this would very bullish signal IMO. Yeah, they may be more occasions for much cheaper coins than $120, but no way under $50. And I can tell you something: if we leave behind $125, I'm entering in motherfuckin-berserk-uberbull mode |
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It's very simple, once everyone is a bull we've reached the top and we're going down hard. When everyone is a bear waiting for cheaper coins the market will go up, hard. When it's a 50/50 mix we're probably going nowhere and there's only consolidation.
You've pretty much nailed it |
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Ok, i did market orders only today. I'm tired of trading this thing. (i was waiting for a re-entry point since when i sold everything at 110, i kicked myself not to have bought at 78$).
I bought at 122 and sold at 119. I bought again at 121 (5% of losses only for this move?).
Cashed out to a paper wallet, i don't want to see mtgox again for the next 2 months. I reached the 0.29% trading fees, they want me to get addicted. I have other things to do in the meanwhile, the only choose was between staying all in or all out.
Bitcoin conference, lot of positive media reviews, lot of buzz, 40k btc on buy orders from here to 100$, i don't think that this will be another 2011, but this confidence should tell me that maybe everything is out there to convince me to do the wrong choice.
We will see, bitcoin. 2 months from now, we will see.
Best of luck my friend. I have also made some buys, I have left only 20% of the fiat I devoted to "catch the best entry points" after the burst, the rest is on BTC. My feeling is the same as yours. This is no 2011. |
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i have started my dump
...
Are you gonna need help wiping afterwards? the guy us shorting with 4:1 leverage at plus500, you can be bearish, but that's some special Olympics shit, totally beyond foolishness |
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I'm a bear in denial.
There is nothing worse then a bear sitting on the sidelines, pockets full of fiat, feeling lonely because everyone left him behind. Good news is, there's no shame in buying in, long term looks fantastic, a little bumpy in the short term, but there are enough cool gifs in this thread to keep you happy (and a few charts with lines n shit). Gosh, this post really made my day |
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-----------------------THREAD SUMMARY THUS FAR---------------------
OP has a subject line containing an oxymoron. "Fair" & "Premine"
This sets up a debate on purposes of crypto coins: for betterment or for profit
blah, blah, blah. many arguments about opensource and historic precedence.
Summary conclusion question: If the point of SN's Bitcoin project was to flip the financial system on it's head and not to get rich quickly, and it's proving successful, then what is the point of all the imitations (alts)? Discussions of to premine or not, to make such and such coin with different block times and total coin amounts are all mute if the original idea (Bitcoin) is doing it's thing. No matter how a creator of a new coin wraps their argument up with a pretty bow, the clear goal is to get rich quick. Otherwise they would be helping Bitcoin be the best it can be. The groundwork is there, growth will come with time. Are you following Satoshi's steps of fixing a broken financial system or are you trying to find the elusive golden egg? Bitcoin isn't broken, so which is it? I agree with this wholeheartedly. +1000 Really well put |
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Lucif went all in at $80ish, but he is not telling |
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Here is the next triangle.  Slippery, go all in man, the train is leaving the station... Choo chooo |
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You can all thank me for this new ramp...
I just cashed out to invest in mining equipment.
Of course this was going to happen XD
Still, I'll be adding to the economy from the other side now, and trading my 'free' BTC instead.
I used fiat to fund my mining equipment, saw it as a better way of topping up my investment - bonus of a shiny new PC! I had no fiat, so it was one or the other, and I have done terribly trading. So I will have a shiny 3x HD7970 rig, churning out 2GH/s - and my ASIC will eventually arrive, so I'll do ok in the long run. Let me tell you that your trading plan was too good to be true. Was impossible. Good luck with the mining. |
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YEP, now they will ship between July and August - so they have plenty of time to keep scamming.
Guys, for the last time:
THIS IS A PROVEN SCAM
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Not it is not. Do not fell for financial scams aka derivatives. Bitcoin was meant to fight that.
But bitcoin was never used differently. Speculate or illegal stuff are the 2 only interests that bitcoin has ever had, huh. Wrong. Bitcoin is about freedom. |
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