Whatever happened to that rptard guy, did they let him out of the 'secure unit' yet ?
He underwent a mind-machine-interface aided fusion with several other supernodes during the Helsinki conference and has since turned into a global, disembodied AI. currently, he's using his new found powers to watch My Little Pony guro nonstop, 24h. |
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I'm still wondering what the 7.5k btc buy at 1pm CET was all about. I didn't see it when it took place, but I'm pretty sure it was one big order.
Why would a whale buy right into the downtrend? He had a slippage alone of 3 or 4 USD. And why not wait a few hours longer and buy even cheaper.
It's too much volume to be a stabilizing move, in my opinion, but it doesn't make much sense otherwise. I'm puzzled.
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Guys, I wanted to make you a favour... So I sold a little coins at $108.5... Just because I wanted the price to rebound UP, I know you feel bad when our beloved BTC crashes  EDIT: you have to know my story first... I'm pretty good buying at the bottom (most of my bids are filled just before the price rebounds UP UP UP), but I'm terrible selling low (50% of the times I sell coins, it's at the very bottom... It happened to me when we touched $79 and happened again on Monday when I sold at $118ish and then price rebounded to $122ish.... Lucky me I only sell "play coins", the vast majority of my stash is in cold storage for good). So, hopefully my stunt works, and $108.5 was the bottom for today. Placed bids with the fiat I got for that coins all the way till $91ish, let's see how it works out this time  hehehe, nice story. but sorry Rampion, no trend reversal yet IMO. but I don't mind being proven wrong about this |
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awww, look at the bears coming out of the woodwork... agreeing with each other how obvious all of this was. 'k. Put your money where your mouth is and make a prediction where this trend takes us, short term. Everything else ("Silk road ... yadda yadda ... Bitcoin economy... wasn't stable in May after all") is just cheap talk. I'll begin: within the next 24 hours, price won't go significantly below 100. If it falls below 100, it will rebound sharply to a value above 100 shortly afterwards. More likely though, we'll continue trading around 110. Your turn  I'm not sure how making a post here puts any money where anyone's mouth is LOL. I appreciate reading other people's analyses because we all have our own biases, and it's good to have them challenged. IMO, well considered opinions in combination with a quantitative target are much more valuable than meaningless short term price predictions pulled out of the derrière. FTFY ... and it's "putting your money where your mouth is" because I go on record making a prediction based on my opinion, which gives someone else the chance to dig through my post history in a month from now, checking what my track record is. Think of like that: if you don't make any predictions, you'll never be proven wrong. How boring. |
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awww, look at the bears coming out of the woodwork... agreeing with each other how obvious all of this was.
'k. Put your money where your mouth is and make a prediction where this trend takes us, short term. Everything else ("Silk road ... yadda yadda ... Bitcoin economy... wasn't stable in May after all") is just cheap talk.
I'll begin: within the next 24 hours, price won't go significantly below 100. If it falls below 100, it will rebound sharply to a value above 100 shortly afterwards. More likely though, we'll continue trading around 110.
Your turn :)
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[...]
Read your post and your predictions backwards and.... you should leave the irony aside
You mean: The very worst I can see is approaching 50 again, and more realistically, that we'll test 100 a few more times in the coming month(s).
this morning. Or 2 days ago: In any case, I don't think we'll fall back to 50, and certainly not sub-30. I can see us going back to 60-80, though, I admit :/
Or maybe the topic I created ~5 days ago, titled 50 -> 80 -> 100 -> 115? 110? Call me again if we go below 100 again.
in which I said that people from both sides are way too fast to declare "up uP UP" or "down Down DOWN", and that the next important level to break before talking about 80, or even 50 USD coins would be 100. Anyway. Do as you please. Just learn to read, maybe. |
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[...] on the current trajectory, tomorrow's about right...  You just started trading, right? I'm not going to pretend that I'm an old hand at this, but at least I learned that you don't simply draw a line through the points of the past 12 hour, expecting it will continue like that for another 12. When I say "trajectory", I take into consideration the momentum of the current down trend. It might reignite, but right now, it seems we've entered a calmer period. If it continues that way, we'll see spikes of maybe +/- 5 USD around where we are now, but, no, not "70". |
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doom and gloom, everywhere I look.
Stay realistic, people. The current downtrend didn't come completely as a surprise, and I won't pretend to know where exactly it stops.
But 70 isn't gonna happen today, at least not on the current trajectory.
Tomorrow? |
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doom and gloom, everywhere I look.
Stay realistic, people. The current downtrend didn't come completely as a surprise, and I won't pretend to know where exactly it stops.
But 70 isn't gonna happen today, at least not on the current trajectory.
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It has happened! The rapture has occurred before our very eyes!
SlipperySlope has turned bull (or at least non-bear)....
That can only mean one thing: Time to sell all the bitcoins! Indeed. Although I bought back in at $131, I have 20% still in fiat in case the bubble collapses further. An important test will be at $104. The bear case becomes stronger should that be broken through on the downside. I think we will go through $104 like a hot knife through butter. Next real support is $80ish. If that's broken too tye the real test will be $50. I don't think we will go below that. And in my book a bubble that bottoms at 1/5 from the top is quite good, it would be healthy signal for BTC. If $50 is broken, I would expect despair, gloom and doom as per 2011, where we bottomed at $2 (that's 1/16 from the top). To put things in context, a 2011 scenario translated to 2013 would mean to reach a bottom of $16ish. That would be a textbook bubble burst, but as I said earlier I doubt we will ever see again that kind of prices. I agree with most of what you write, but you, as many others on this forum are just so damn... impatient. No, I don't believe we will approach 80 during this down trend. It rarely happens that such huge drops happen anyway, and the momentum to go there in one round just isn't there. I think testing 80 again is a real chance. But not today, or tomorrow. |
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oh wow... 1400 btc ask wall @112 just popped up on bitstamp. someone really wants the price to stay down/go down even further ... I'm tempted to buy into it  EDIT: aaaand it's gone again |
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It has happened! The rapture has occurred before our very eyes!
SlipperySlope has turned bull (or at least non-bear)....
That can only mean one thing: Time to sell all the bitcoins!
I'm kidding, of course. As always, I appreciate your updates. Funny enough, right now I'm more sceptical than ever that we've reached the end of the slide. The low volume looks to me like biding time, as if the market is waiting for a signal that the fundamentals of bitcoin went from "promising" to "actually relevant"... and I think it'll take another year or two before that will be the case.
That said, I don't expect we'll reach a new absolute post-crash low (like lucif does, for example). The very worst I can see is approaching 50 again, and more realistically, that we'll test 100 a few more times in the coming month(s).
/gut feeling
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oda.krell is the guy who fought the Gorgon, right?
don't be silly. it's a musical masterpiece by Razor and the Scummettes (I feel old now) |
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Haha, actually I was referring to the figure from Greek mythology who brought fire to the humans because he pitied them. As a punishment he was chained in the Caucasus indefinitely and every day an Eagle would come and eat his liver: http://en.wikipedia.org/wiki/Prometheus Right, right, now I remember... he's the guy who has to roll that boulder to the top of that mountain all the time, but then he falls in love with his own mother, right? |
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I wouldn't compare myself to Prometheus as we all know what faith had in store for him ...
You mean how he got eaten, from the inside, by an unspecified xenomorph and fossilized sitting in the giant captain's chair of his gargantuan spacecraft? |
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[off topic] has everybody seen this one already? Yes? No? http://abstrusegoose.com/509[/off to... ahahaha, who am I kidding, EVERYTHING in here is off topic. |
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But I still think Bitcoin is currently overvalued. The truth is, outside speculation, bitcoin is only supported by silkroad. Imagine speculators leaving, and silkroad shutting down. That canard doesn't become truer just by repeating it over and over, y'know. |
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Frozenlock just gave the answer that ends this discussion. The blockchain has the potential to become so much more than a ledger that stores bitcoin transactions. Bitcoins however are what gives you access to it. Intrinsic value, right there.
Could you give some examples? I think nerds like to, well, nerd out about the potential of the block chain because it takes a while before you can even wrap your head around what it actually is: a distributed, tamper & attack-proof, eternal, trust-free storage of information. One idea that I've heard was using the block chain as a way to publish information and at the same time being able to prove that you were the first one to do so. But in reality I think what gets the nerds excited is that we can't really see yet what it might be useful for, just that it feels like it very likely that in the future people will come up with a bunch of ideas we can't even dream of. A bit like how Vint Cerf probably didn't have a clue what the Internet one day would look like, but he seemed to realize the potential that it could become something big one day. |
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No, we're not seeing "essentially faith" with bitcoin. It's more. I have to agree finally with Max Keiser: bitcoin does have intrinsic value (I used to argue it was all pure faith). The intrinsic value of bitcoin is it's scarcity combined with the fact that you can send it through the internet anonymously. That's intrinsic value right there.
Unless you somehow enjoy sending coins back & forth, and don't care if they buy you any goodies, i think we're talking " instrumental value." Frozenlock just gave the answer that ends this discussion. The blockchain has the potential to become so much more than a ledger that stores bitcoin transactions. Bitcoins however are what gives you access to it. Intrinsic value, right there. |
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*self-thread necromancy* Arise! Fucking finally! This is what I've been looking for.... order books of mtgox and bitstamp combined, among other things: http://www.coinorama.net/ Still a bit rough around the edges, but already very, very useful, in my opinion. Bookmarked. |
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