Anyone buying now has some big brass balls I tell ya'.

In a CNBC.com-only interview after a marathon question-and-answer session with shareholders, Becky Quick asks Warren Buffett to comment on some of Charlie Munger's best lines, including his opinion that letting Greece into the European Union was a stupid as using rat poison for whipping cream.

Charlie Munger, on Bitcoin: "I think it's rat poison."

Bill Gates, on Bitcoin: "I think it's a technical tour de force."

Warren Buffett, on Bitcoin: "I think either Charlie or Bill is right."

Bitcoin Startups Begin to Attract Real Cash
TECHNOLOGY May 7, 2013, 6:07 p.m. ET

Venture Investors Pour in Millions, Adding Credibility to Internet Virtual Currency; Regulation Looms as a Concern

By SARAH E. NEEDLEMAN and SPENCER E. ANTE

Bitcoin startups are beginning to raise sizable investment capital even as industry leaders warn that hackers are abusing the Internet virtual currency for profit.

In the past year, fledgling businesses Coinbase Inc., Coinsetter Inc. and CoinLab Inc. have raised millions of dollars collectively from prominent venture-capital firms and angel investors, adding credibility to a digital currency that isn't backed by a central bank.

[...]

http://online.wsj.com/article/SB10001424127887323687604578469012375269952.html

You may read my translation here, I think mine is a little better than Google's version.
https://bitcointalk.org/index.php?topic=197753.0

Bitcoin has quietly into China. In the the Bitcoin Chinese network, you can look like a convert to real-time view Bitcoin national currencies exchange market on a daily basis, including the renminbi.

In addition to the Bitcoin Chinese net "of these individuals to create bitcoins website, Taobao shop is also convertible main venues.
Taobao enter keyword "Bitcoin can search nearly 240 shops do Bitcoin exchange business, but also a small amount of shops accept Bitcoin payment.

Some of these shops are located in Beijing, Shanghai and other cities, some in Tai'an, Shandong, Guangxi Yulin, Huaian, second and third tier cities.
Reporter noted that a Taobao selling antique jewelry, 5R - antique shops to accept Bitcoin payment, the owner said he was optimistic about the Bitcoin, I believe there will be more people use Bitcoin.

LOL

"CFTC head Bart Chilton told the paper Bitcoin “is for sure something we need to explore,” adding, "It's not monopoly money."

Bullish or regulation bad sell? http://www.businessinsider.com/cftc-considering-bitcoin-regulation-2013-5

FT: US regulators eye Bitcoin supervision - http://www.ft.com/intl/cms/s/0/b810157c-b651-11e2-93ba-00144feabdc0.html#axzz2SXW9UnLr

First China, now this: http://blog.coinbase.com/post/49782323057/coinbase-now-processing-15m-per-month-in-bitcoin-buys

Bullish?

Why most people here are happy to see bear coming and price drop?

I didn't mean just touching it, I meant make the price hover around some lower point than 120.

But yeah its around 117 - 118 now. Still, I sense bear weakness and bulls holding ground.

In the Erisian Archives is an old memo from Omar to Mal-2: "I find the Law of Fives to be more and more manifest the harder I look."

Yeah. "Nothing to see here people, move along..."


There's no way the Chinese populace would be interested in a disinflationary virtual currency, right! Right?  

Hint hint: http://brontecapital.blogspot.co.uk/2012/06/macroeconomics-of-chinese-kleptocracy.html

Especially not when the friggin state news agency goes and instructs them to pay attention.

But... Whyyy? It makes absolutely no sense, right! Or does it?

---

---

Could mass adoption of disinflationary money-supply digital currency be the (missing) key to continued depreciation of the yuan?

--> [Read. This. Now.]

In general:

• Could a government ensure sustained competitiveness of industry and exports by embracing mass adoption of cryptocurrency?
• Could a government promote cryptocurrency as a giant, real-life Gold Sink?


Per Wikipedia, The Chinese government banned using virtual currency to buy real-world items in 2009 but, crucially, not the reverse.

---

Currency War.

Forget the Chinese news, Bitcoin on btcchina.com is already cheaper than on mtgox again.

Here is yet another news article on Bitcoin, today from xinhuanet - a news media in China directly controlled by the party.
There are clearly pushing Bitcoin to the public

http://big5.xinhuanet.com/gate/big5/news.xinhuanet.com/info/2013-05/06/c_132361304.htm

if that was difficult to parse, the idea is that the greater the number of points of contact, the more robust the trendline is.
this is because, as frozen pointed out, any line at all can be drawn across one point, two points is enough to define an arbitrary unique line, but three points is a 'coincidence', or in statistics terms, a correlation.

i admit that the lines above only have 2 points of contact. the evidence for their robustness is in the price movement right now.

But why aren't you taking the high of the $265 candle?
You can make many, many shapes if you can choose any length of candle.

that high is very obviously an outlier.

the process of drawing the 'correct' triangle is as follows: identify the possible top and bottom trendlines with the greatest number of points of contact, disregarding outliers.
we can even disregard the highs that break robust (multi-point) trendlines because that itself is evidence that they are outliers, based on the theories of triangle consolidation patterns.
...
as you can see, there are many possible triangles. determining which is the best fit is a messy process that i'm still refining.