I didn't realize that
Hold on to your pants guys...its gonna get crazy.
Meant, hold onto your pants for weeks and weeks (maybe months), the market might drop (or it might not) and it might burst all the way down (or it might not).
Your ADHD is your own problem, not mine. The market doesnt move on your time, it moves on its own time...if you cant handle that, go invest in bonds or CD's or something more predictable. And as for your money disappearing bullshit, we went from $266 to $105 in less then a day. That must have been magically money that had the ability to disappear, but this new money disappears much more slowly.
No, you jackass. People sold their BTC, but not everyone just yanked their money out of the market. Some stayed in fiat to see how low it would go, some bought back in at 50 hoping for a recovery (hence the bounce). While those who got burned really hard probably exited the market completely, plenty of people stayed in which is why the bubble hasn't popped all the way yet (and why the bulls consolidation to recovery theory is still a small possibility). When and If the market fails to recover, people will lose confidence that it will recover and the price slides lower. We saw the same exact thing in 2011. There's quite a lot of fiat sitting in Gox's order book, very close to ATH (which was something like $23M). Do you know if it's possible to find somewhere a bid sum graph for 2011? Blockchained data starts in Jan 2012.   |
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China is coming... the quote below is what its like to really invest. Especially a year ago when (like China now) service was thinner. tl;dr: It takes a month+ to do more then just stick your toe in. I also think that a lot of you old timers mis-estimate the time and effort it takes for a noobie to bootstrap. It goes something like this:
1. Read about it, overcome the negative stigma that comes with SR, gambling, etc.
2. Make a small investment using bitinstant (edit: or direct person 2 person, etc)
3. Learn a ton about the banking system, chargebacks, how FED creates $.
4. Ask all the noobie questions "why can't someone just [print more bitcoins, steal your wallet, turn off the network, make it illegal]". What's it backed by anyway? :-)
5. Read enough about it to stress about all the scammers hacked wallets and failed exchanges, etc.
6. Start the KYC process with an exchange that has about 5000 totally obscure and difficult to use ways to deposit money.
7. Tortuously move small chunks of fiat into the exchange
8. start buying
9. freak out about failed exchanges, possibility of USB stick failure, etc
10. start looking at paper/brain wallets
11. Get your head around the idea of actually holding your own money somewhere
12. Create isolated new install VM to make a paper wallet. You can't outsource this to some client-side web script (if you really want a secure wallet)!
13. TEST the paper wallet concept (requires an entire blockchain sync from scratch).
14. KYC finally comes through!
15. DAMMIT price has doubled :-)
This was my path anyway...
For HNWIs its got to happen with both them AND their advisor (who's gonna do all the work).
So people who might have gotten interested in bitcoin during the Euro financial uncertainty may just now be starting to move from a few hundred BTC trial investment to an actual acquisition strategy.
This is very accurate. Process is slow. |
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This was completely fake. Sell sell sell.
Man, you didn't have to say it. We all knew from post 1, except a couple of retards blinded by stupidity + greed. Which is a really bad combination. Anyhow it was surprising to see how this thread got to 6 pages. I guess that one or two idiots even bought some BBQ after your post. I'm always underestimating the foolishness around here. |
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What a joke.
Go guys! Feel the rush to be an early adopter! Go make some money in scam coins and pump and dump schemes! Jump now on the train, because is leaving the station!
Pooooh pooooh...
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Yes: we're stable. In the meanwhile bid sum keeps creeping up, we're not very far from all time high (which was aprox. $23M). IMO Bitcoin is very healthy. Money is not running out. I could use a 2011 bid sum graph, anybody knows where to get it? Blockchained data starts in January 2012. |
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I have to say that I enjoy evolve's bearishness. It's well reasoned and he definitely has a cool sense of drama. Man, look at the topic title: The Bear Market is on....Red candles still haunt my dreamsEvery time I read it, it makes my day  When you predict the end of the world, tell people to sell their investments, have a pretty chart with lines, that pretty much means you're trying to buy back in. Even if you weren't, turns out you were wrong and should probably stay quiet until God tells you where BTC is going again. Hopefully no one listened because they probably lost money. Everytime a day trader sells his BTC, he runs to the forum and shits FUD until he can buy back in. We get it, you want the market to drop so you can get back into BTC. Act like a normal adult and save the drama. We don't need a new thread, we don't need chicken little charts, and stop telling people to buy or sell. Ranting is for the wall tracker thread, it's easier if we keep all the histrionics there. Well, it's pretyu clear to me that Evolve is waiting to buy back. He is out, and now he is looking to go back in at the best spot. I think it's clear from his very first posts after April, 10th. |
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However, I do think we will have to break through 50 before the bubble is "popped", and breakout above 150 would definitely signal a trend reversal.
9 days ago you said it was about to get "crazy" and "this bubble is going to pop all the way". And 9 days later, it hasn't gone down. When you're that dramatic, have charts, and you end up being wrong, you should probably take a break from forecasting BTC. At least stop making threads and bumping your old (wrong) predictions. Maybe stick to posting in the other 300 TA threads until you're back on your feet and you're confident enough to be starting threads with the "next big crazy move" that likely won't happen. I have to say that I enjoy evolve's bearishness. It's well reasoned and he definitely has a cool sense of drama. Man, look at the topic title: The Bear Market is on....Red candles still haunt my dreamsEvery time I read it, it makes my day |
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So much fail in this post.
Nice to see that for OP the worst ASIC company is the only one which has been able to deliver 68 GH/s for $1,200 up to date. And the first one to be able to deliver ASICs to final customers, enabling them to have an immense ROI.
Glad to see that for OP Butterfly Labs is way ahead of Avalon.... Yes, BFL, the same company that took dozens millions of dollars in preorders, without being able to deliver shit for almost one year. The same company that screwed big time thousands of customers, the same company that sold for $30k a unit (the mini rig) that cannot exist, and that haven't proven to have any working unit apart from a shitty and power hungry "Bitforce 5GH/s miner".
And the cherry on the cake is seeing that for OP Butterfly Labs is almost tied with ASICMINER, a company which paid back to its shareholders the IPO price in just a few weeks, that is consistently paying dividends, and that proved that can ship units in the same week of purchase.
OP: shame on you.
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"Drug Raid in Israel - Cash Involved"
Wow man, we must ban cash. Too difficult to trace, and it's the choice of criminals.
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I ordered a 60 Gh/h asic. I'm just afraid that its going to be a paper weight once I get it in about a year.
In about a year? How you people are so optimistic? Did you order in July 2012? Then yeah, it may be one year from now if you ordered a Jalapeņo. If you ordered a mini rig, you won't be receiving it - because it does not exists. If you ordered a single or mini single, who knows when you will receive it. And if your order was placed in 2013... Man... I don't know what to say. Good luck with that. I would ask for a refund for sure. |
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It's not just bots.
The site has been up and down. So plenty of "real" people were unable to get on. Lots of BTC businesses use the api to make trades, like Bitinstant. I also believe there are trading platforms that use the api to do trades on MtGox. I don't think the drop is just trading bots.
what is remarkable is that there are no accompanying large sells on other markets and no panic. This is not the usual ddos play, is it? I think traders became resilient to DDoS. Not many newbies coming in (hey, the bubble popped), and usual traders know that if Gox goes down, their funds will be there as soon as it comes up again. No panic. In fact, the last few days of huge lag where during mini-rallies, not during dumps... Didn't they? |
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I'm worried that we might be entering into a very long term sell off, the price may gradually dip and spike but overall each new peak or "hill" will be lower than the last. Bitcoin has to outpace it's current 13% inflation rate in order to rise. That's easy to do if it's a relative unknown exploding into a new population, but once it's saturated it's likely market then there's no more support
And why are you worried? Cheaper coins for you and all of us. Aren't you happy to buy more BTC with your limited fiat? EDIT: I was worried when we went into parabolic growth. That was worrying indeed. Was not sustainable. This is good for everybody, except the ones that entered very very late and were in just for the fiat profits. |
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Has Gox limited or disabled the bots? If so, it's a bad omen when that results in almost no volume... Another indication of how much control the bots really have.
Not to my knowledge. I guess there are simply no buy/sell signals for the bots. What should a bot do if the market is moving sideways? The error I'm getting with my bot is certificate verification failed. God only knows what they're up to. Edit: Looks like data.mtgox.com is using the certificate from www.mtgox.com. It's amateur hour (or four), guys. interesting... I get "http 403: forbidden" on http api calls to data.mtgox.com. interesting 2.) same client works from another host. No bots? Interesting. Would it be a good moment to dump a huge amounts of coins? Maybe no stop/loss would be triggered, thus avoiding panic to certain extent... Or what I'm saying is wrong? Honest question, I'm curious. |
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I'm speechless here. I'd thought that it was painfully obvious that ASICMiner => Avalon > BFL at this point.  That's it, but you know how this "modern" PR strategies work... |
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who really cares? If bitcoin will fail its value will be 0 if it will succeed then value will be very high. As long as you are not daily trader (or gambler) then its not important what is in between. The worst thing you can do is to sell too cheap (i mean right now). And you should not invest more than you can afford to loose anyway.
words of wisdom. I care about short term future price. I'm not sure I agree with the words of wisdom. 1. Don't invest more than you can afford to lose.If I follow such advise I end up investing only a few percent of my capital in anything. Losing more then a few percent means I need to reduce my lifestyle. However, investing only a few percent will not allow me to increase my lifestyle if it works out. Basically investing a few percent won't make a difference for me, when it goes down, or when it goes up. I think this is generally true for most people. Just to check. Do you follow that advice yourself? How much percent of your capital is invested in Bitcoin today? Can you really afford to lose this? What would be the impact on your life if this were to happen? 2. The worst thing you can do is to sell too cheap (i mean right now).If bitcoins become cheaper in the future this statement will have empirically proven to be wrong, not? I follow my own advice. And I will demonstrate you something empyrically: on 10th, September 2010 you could have bought BTC52,361 for $5,000 (the price per 1BTC was $0.095). One year later, that amount of BTC was worth $210k dollars. If you could afford to lose $5,000, you might have followed my advice and HOLDED. I know many who did. If you couldn't afford to lose $5,000, and as in September 2011 we were in the middle of multi-month bear market, you would have sold to secure your "amazing" profits. Now make the calculations with the current price, and you will realize how much money you would have lost in just one year and a half for not being cold minded enough to hold onto your BTC53,361 The following statement was just empirically proven wrong in the recent past: However, investing only a few percent will not allow me to increase my lifestyle if it works out As I said earlier, BTC is a gamble - and the real winners will be the ones with the balls to hold till the last minute. If you invested an amount you cannot afford to lose, from one side you are a fool because Bitcoin is beta software, and it can go south at any minute. Not acknowledging this is plain and simply delusional. And secondly, I can guarantee that you will not be one of the real winners, because you will have trembling hands as soon as a deep crash puts in danger your investment, and thus you will not be able to hold till you are really set for life. |
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I don't think we've ever seen quite this level of entrenchment after January. This might be the stability we've been waiting for  Yes if I wasnt't trading with 4:1 leverage through plus500, I might have fallen asleep  I am doing plus500 as well. Shorting and waiting for it to get to 95 Who borrows you the Bitcoin on plus500 when you go short? What's the interest? Nobody lends you nothing. They are CFD's ( https://en.wikipedia.org/wiki/Contract_for_difference) - one of the many financial scams AKA derivatives that Bitcoin was meant to fight. Shouldn't the issuer (plus500) try to behave risk-neutral? Are they fully gambling against you? Will they only accept as much "short" as somebody else goes "long"? Besides that I really really like the interface - worlds between that and gox. Yes, they are just gambling against you. They will accept any amount of "short", regardless of how much anybody else goes "long". Welcome to the derivatives world. This is how this big blackhole financial crisis started - didn't you know? They just gamble ad infinitum with funny papers and debt money. And when everything goes south, we bail them out - not directly to plus500 in this case, but to the banks and funds that own them/lend them the money (in this case are UK financial institutions). |
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If you have to use paypal, do business with DannyHamilton. He won't scam you. Don't ever use paypal with users with no good rep. established for long.
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I have this feeling that all the idiots who scream that BFL is a scam will just disappear and make new accounts later this year. And there will be a few nuts that believe that hundreds of forum users are being paid by BFL to act like they got working ASIC's.
Quoted for the lulz (2) |
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And you kids will be the ones crying after everyone else is mining 1TH/s.
Quoted for the lulz |
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