Yeah ... that looks like a bullish formation to me ... NOT I guess you covered your short then ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) Actually, I did close my short. We dropped almost 40% without any major rebound. Edit: ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FCJXsfl1.png&t=663&c=15ykyeBgBeps0g) I bought back in at 65 (Bitstamp). 63-64 has been tested 3 times and has held. My guess is that the price will rally for a while now.
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Bitstamp 70.00 ...
69.9. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Walls demolished! ![Cool](https://bitcointalk.org/Smileys/default/cool.gif)
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Bitstamp is taking a bit of a nosedive ... back to $72 @ IAS - Yes yoda just told me to trim my position a bit and go sit in the sun ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) - sometimes you have to make a small sacrifice to get what you want ! @ Ultraviolet - I hear you, and would certainly not be going long here, but the risk of spike to $xx before we break $70 is ... apparently decreasing as I write ! I was going to say, quite significant lol You can thank me for buying back a bit of my short ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) 1000 BTC wall at $71 on Bitstamp seems to have been gobbled up... or at least shuffled/spread a bit!
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Yes, approx. 91 and 81 are my immediate goals. I suspect there will be bounces to profit off these resistance points. I would expect to buy in again lower should the price permit.
Well, I was about right for this phase. Unfortunately, I wimped out at 98 just before the drop, as an insurance against it going up! I should have stuck! Still, I made a good BTC profit regardless and bought the other half at 91. I'm hoping to sell on a bounce up to the high 80s, then buy back at the low 80s. I'm hoping to gain a few more BTC in the process and claw back some USD losses. EDIT: P.S. Unfortunately, I was away during the weekend and couldn't trade it out. Ofc, the last few weekends it was dead... when I was free to trade! ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif) [On Bitstamp] An update on my position. I should have bought in the high 80s as was my original plan, but held out hoping to regain the loss, which was foolish! We hit about 89 and then plunged into the 70s, so it would have been a good strategy. I made a loss there - that's twice I should have stuck to my original plan over the last couple of weeks! Still, you have to cut losses and move on to the next trade! I recently bought in at 78, being unconvinced by the rally. A head and shoulders then appeared to be form and has now largely completed with a fall back to low 70s. As I think we're still in a downward trend, I suspect 70 won't hold and I pulled by 71 buy position (half my trading fund). I'm now sitting on the side and waiting to see how things pan out over the next few days. I'm still tempted to try a trade at 71, as there seems to be substantial support. However, I doubt there would be much of a bounce and as the head and shoulders pattern has just completed and I suspect enthusiasm for another rally may be low.
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http://www.bitcoincharts.com/markets/bitstampUSD.html![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fwww.bitcoincharts.com%2Fcharts%2FbitstampUSD%2Faccumulated_orderbook.png&t=663&c=39xdg__M8rrKlw) Look at that same chart, zoomed out. To get as many bids as asks at 108, you have go right down to 80! ![Shocked](https://bitcointalk.org/Smileys/default/shocked.gif) Ranging from 90-100 looks easily possible. Less than 90 doesn't look off the table either. I currently have speculative orders in at 91 and 81, while I monitor the action from a distance. Ahhh, I didn't realize there was a fuller chart available - Thx. Be really really careful with your placements. You might very well make a profit but if the volume there is so low that it will slice through and won't bounce off the bottom till it hits resistance (which may be at $60 - $70). Looking at the chart last weekend I came up with these key support levels: $90, $82, $60, low $50's and possibly 20's. Nothing really new with my numbers but I did verify some of the patterns with the past bubble correction. Yes, approx. 91 and 81 are my immediate goals. I suspect there will be bounces to profit off these resistance points. I would expect to buy in again lower should the price permit. Well, I was about right for this phase. Unfortunately, I wimped out at 98 just before the drop, as an insurance against it going up! I should have stuck! Still, I made a good BTC profit regardless and bought the other half at 91. I'm hoping to sell on a bounce up to the high 80s, then buy back at the low 80s. I'm hoping to gain a few more BTC in the process and claw back some USD losses. EDIT: P.S. Unfortunately, I was away during the weekend and couldn't trade it out. Ofc, the last few weekends it was dead... when I was free to trade! ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif)
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Are we at 180 yet? ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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Can we put up some more insane walls? Because no matter what happens we need to make sure Bitcoin won't go up and make us money. That would just be bad!
While there is volatility, there is money to be made! ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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http://www.bitcoincharts.com/markets/bitstampUSD.html![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fwww.bitcoincharts.com%2Fcharts%2FbitstampUSD%2Faccumulated_orderbook.png&t=663&c=39xdg__M8rrKlw) Look at that same chart, zoomed out. To get as many bids as asks at 108, you have go right down to 80! ![Shocked](https://bitcointalk.org/Smileys/default/shocked.gif) Ranging from 90-100 looks easily possible. Less than 90 doesn't look off the table either. I currently have speculative orders in at 91 and 81, while I monitor the action from a distance. Ahhh, I didn't realize there was a fuller chart available - Thx. Be really really careful with your placements. You might very well make a profit but if the volume there is so low that it will slice through and won't bounce off the bottom till it hits resistance (which may be at $60 - $70). Looking at the chart last weekend I came up with these key support levels: $90, $82, $60, low $50's and possibly 20's. Nothing really new with my numbers but I did verify some of the patterns with the past bubble correction. Yes, approx. 91 and 81 are my immediate goals. I suspect there will be bounces to profit off these resistance points. I would expect to buy in again lower should the price permit.
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Wow, this is interesting. Looks like MtGox is really learning how to F themselves (not to mention a lot of their customers). Looks like Gox is going to lose a lot more market share after this one, rightfully so and good for us. I'm gonna sit this one out until things clarify themselves. Did I get my shooting star? ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) Predictions from this fellas? ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fi43.tinypic.com%2F1rpxdg.png&t=663&c=SGCa0LkVG52agA) http://www.bitcoincharts.com/markets/bitstampUSD.html![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fwww.bitcoincharts.com%2Fcharts%2FbitstampUSD%2Faccumulated_orderbook.png&t=663&c=39xdg__M8rrKlw) Look at that same chart, zoomed out. To get as many bids as asks at 108, you have go right down to 80! ![Shocked](https://bitcointalk.org/Smileys/default/shocked.gif) Ranging from 90-100 looks easily possible. Less than 90 doesn't look off the table either. I currently have speculative orders in at 91 and 81, while I monitor the action from a distance.
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price is floating up on light volume, and even small sales are enough for it to get hammered back down. No doubt about it, this is a fake rally designed to let people sell high. Bail while you can! Full disclosure, I'm short from $106.5 Yes and we have the makings of a 3rd straight day of higher prices on progressively lower volume. This happened last week on the 9-11 (no pun) and we wen't down afterwards. It is a tell tale downward formation (if it holds)... +1 [On Bitstamp prices...] It's looking like a triple top - three failed attempts to get over the 108 bar, with retraces back to 102 each time. I doubt we will see a forth. However... the last retrace only touched 102, with a sharp bounce back. This starts looking a bit like a rising triangle, which is bullish. From this perspective, getting over 108 is a smaller leap. There is a good deal of resistance over 108 though, which would need a lot of buying power to punch through. Therefore, I'm about 85% bearish for the trend for the next few days. I have orders in around 101 and 91 to catch the retrace back to the 18th or profit from another 10% fall beyond this. P.S. I bought at 99 and sold at 107 since the 18th. I missed the first spike (sell price too high - by 0.5 BTC annoyingly!) and then just missed last night's dip (buy was at 101, and only 102 was reached). You can't win them all though! ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Well, that worked out well! ![Cool](https://bitcointalk.org/Smileys/default/cool.gif) It all panned out as expected, with both my 101 and 91 buys coming in last night. The latter was a pleasant surprise. After looking at the state of the Bitstamp order book, I just sold all for 102, taking a decent profit. I'm not certain where my next buy in point will be, but I'm thinking somewhere between 85 and 95. I have some thinking to do first though.
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price is floating up on light volume, and even small sales are enough for it to get hammered back down. No doubt about it, this is a fake rally designed to let people sell high. Bail while you can! Full disclosure, I'm short from $106.5 Yes and we have the makings of a 3rd straight day of higher prices on progressively lower volume. This happened last week on the 9-11 (no pun) and we wen't down afterwards. It is a tell tale downward formation (if it holds)... +1 [On Bitstamp prices...] It's looking like a triple top - three failed attempts to get over the 108 bar, with retraces back to 102 each time. I doubt we will see a forth. However... the last retrace only touched 102, with a sharp bounce back. This starts looking a bit like a rising triangle, which is bullish. From this perspective, getting over 108 is a smaller leap. There is a good deal of resistance over 108 though, which would need a lot of buying power to punch through. Therefore, I'm about 85% bearish for the trend for the next few days. I have orders in around 101 and 91 to catch the retrace back to the 18th or profit from another 10% fall beyond this. P.S. I bought at 99 and sold at 107 since the 18th. I missed the first spike (sell price too high - by 0.5 BTC annoyingly!) and then just missed last night's dip (buy was at 101, and only 102 was reached). You can't win them all though! ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Agreed, it is tough to stay out of this market, but doing so reluctantly. ps - I almost did what you did at 100 (but held back :-( ) I only went half in and kept an order in at 85 as insurance. It was tricky to know which way it was going to go before the 18th (IMO), so I played it a bit safe! ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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price is floating up on light volume, and even small sales are enough for it to get hammered back down. No doubt about it, this is a fake rally designed to let people sell high. Bail while you can! Full disclosure, I'm short from $106.5 Yes and we have the makings of a 3rd straight day of higher prices on progressively lower volume. This happened last week on the 9-11 (no pun) and we wen't down afterwards. It is a tell tale downward formation (if it holds)... +1 [On Bitstamp prices...] It's looking like a triple top - three failed attempts to get over the 108 bar, with retraces back to 102 each time. I doubt we will see a forth. However... the last retrace only touched 102, with a sharp bounce back. This starts looking a bit like a rising triangle, which is bullish. From this perspective, getting over 108 is a smaller leap. There is a good deal of resistance over 108 though, which would need a lot of buying power to punch through. Therefore, I'm about 85% bearish for the trend for the next few days. I have orders in around 101 and 91 to catch the retrace back to the 18th or profit from another 10% fall beyond this. P.S. I bought at 99 and sold at 107 since the 18th. I missed the first spike (sell price too high - by 0.5 BTC annoyingly!) and then just missed last night's dip (buy was at 101, and only 102 was reached). You can't win them all though! ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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I've been meaning to read this thread all week and I finally got time over the last couple of days. I have to say, I'm very impressed!
I know the original post was about BitMessage integration with Open-Transactions, but this is the first time I have read about either technologies. I've read/heard a lot about Ripple (in original and new form), but OT had some how slipped past me so far.
OT has clearly been well thought out. Having read all the posts and found fellowtraveler's comments very helpful, I am now rather excited about this.
The concept of detaching issuers and users from OT servers is brilliant. Having OT servers just acting as blind processing nodes is a great idea and I didn't even realise it was possible!
Detaching issuers from OT servers strips the former of their power to abuse their position. IOUs cannot match this ability.
Detaching users from OT servers strips the latter operators of their power to abuse their position. IOUs cannot match this ability.
I like the way no new currency internal OT currency is needed either, with Bitcoins providing a useful store of value at the core. This seems to be building on top of what already works well.
It will be interesting to see how readily people will leave Bitcoins or colored coins within the OT system. I can certainly see people trusting OT far more than current exchanges. Considering how users and issuers are also detached from OT, this would further encourage trust.
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Of course there will be insurance, should there be a demand for it. TBH, I'm not sure why anyone would argue otherwise.
Bitcoin isn't anything special in terms of something to insure. The same rules apply as for any other asset.
Ofc, the insurer would need to assess how securely the Bitcoins are stored* before being able to calculate a premium. That's nothing new either though.
[* EDIT: To add, you can insure gold coins in a safe, for example. Sure, you could 'steal' them yourself, but that is factored in by the insurer.]
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I noticed the other week that a 1000 BTC wall had appeared on Bitstamp. I had only seen these on MtGox until then.
It seems that some of the bigger traders have decided to give Bitstamp a go instead of MtGox.
The more substantial exchanges, the better!
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I am young, but I am very sure that the Hippies didn't pose a threat to the established at all, unlike us.
* sigh * That's what people see, but it has no bearing - or very, very little - on what those times were actually about. It was the most intense political period the US had seen since the Civil War. We came closer to an actual shooting revolution than you'd believe - after 40-50 years of corporate-owned media pushing all the drugs/sex/rock'n'roll crap that had little to do with what was really going on. Not that that part wasn't fun... The establishment are always seeking to alienate and turn others against free thinkers. I suspect the hippy/peace movement in the 60s was much the same. I was actually speaking to my father about the 60s the other month. He said that the Internet, Bitcoin etc reminded him of some of the things many in the 60s were seeking to achieve. Ofc, they goals weren't reached in some ways, but in many others culture was changed permanently. I think I there may have been a good part in 'The Century of Self' documentaries about this. I can't remember though and it's a 4 hour series so I can't scan through. Here is the link for those interested though: http://www.youtube.com/watch?v=s7EwXmxpExwThis time, we have the Internet. This has lead to wide spread, unregulated communications. It has lead to pressure on censorship, intellectual property and now the monetary system. It's a system which allows strong protest movements, which are very hard for monolithic states to control. Perhaps this time, the freedom craved by some in the 60s will have a better chance of materialising - it's certainly much harder to discredit such positions now.
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...I'm not saying we are close to that point yet, but we're closer than we have been in my lifetime.
How old are you? 34 - Not that old, granted. It feels old enough though! ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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I see why attacks go unchallenged, why dismissal (fixed spelling here for you) and name calling is the extent of the arguments, Maybe it's the messenger and not the message. Just a thought. Kind of ironic seeing as you began the personal slurs and name calling in this thread ... that's pretty much when I decided you really are not worth arguing with .. you have become just troll bait at this point it seems. ike I said, we're taking it from you and since this group has done the hard job of labeling themselves the tin-foil hat nuts, our job is easy. That's right, we'll lead the sheep...which you and yours are completely incapable of doing. Although your delusions of grandeur are comical enough to suggest you are actually trying to be funny? Or maybe you are just a nasty piece of work pretending to be all warm, fuzzy and humanity-loving but truly just want to fleece them? No more free tips for you...best of luck. You're gonna need it. That's fine, I've never been tipped in bitcoin and have never begged for any. Thanks, but I don't need your luck I have reason, logic and more than enough BTC ... be careful you don't miss our next great project that will make your bitcoins obsolete in a blink if we so choose ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) I think anyone paying attention can clearly see who's been doing the attacking in this thread. In my view, Libertarianism does not stand for humanity, it stands for self. It is a selfish ideology that seeks to have all world governments destroyed, all currency and basically anything and everything that thousands of years of humanity has fought and died to create, what we know as civilized society. Libertarianism is an every man for himself ideology that basically says, only the strong survive. If you want a piece of land, you can take from someone else if you're strong enough because there are no police, there's no rule of law. There is just chaos and unrighteousness. No, i side with the greater good of humanity and libertarianism is not in the good of humanity and like so many ideologies before this one, it too will fall by the waste side because humanity will not accept such "programming" because such is based in selfishness and is contradictory to the human spirit. Now that is your right to believe how you believe and ironically it is through the rule of law and the constitution that we all have such rights in America. Seems like nothing more than a bunch of whiners who take what has been created here for granted and seek to use Bitcoin not to simply to bypass bankers.... (No, that's a front) but to destroy civilized society. Better men than you have tried and failed my friend and the human spirit of kindness and good will toward one another always wins out. This is no exception and hardly worth any more chatter. Please continue the dismissals. You're the best player on our team. I'm done...the last word is yours sir. If you think that using threats/violence to take stuff is 'civilized society', then I would suggest you take some time out to reconsider that position. Additionally, society doesn't come from the barrel of a gun. Society is what forms voluntarily, in the absence of coercion. Statism is anti-society, not anarchism. To suggest that people would do as they please (no laws, no police etc) is to misunderstand humanity too. These mechanisms/organisations evolved due to people wanting them. People policed their own streets, based on their own basic laws (no theft, murder, rape etc). That the state co-opted these movements doesn't mean that there wasn't a desire, nor a solution, to solve these problems without the state. If humanity is to move forward, it needs to embrace voluntary association. Using threats to treat people like slaves, thus disregarding the ownership of themselves and their property, is not civilized. It's an anachronism from a bygone age that we're still having to put up with.
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As more people consider the state as 'them' rather than 'us', the less they will support its actions.
Over the last few years I have observed the sentiment shifting. Whether it is because of the global depression, the monetary system, the overreach of successive governments, I don't know. The why doesn't really matter though; it's the conclusion of such sentiment.
When the state becomes the opposition of the people, it cannot last in its existing form. I'm not saying we are close to that point yet, but we're closer than we have been in my lifetime.
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Great news though! I'm looking forward to seeing more terminals in shops that accept Bitcoins directly, but this is a good way to get the ball rolling!
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