We're down 3 USD today, what is all the panic about? For real world terms 3 USD will buy you a coffee or a burger. That is literally the price loss over the last 12-24 hours, let's all calm down shall we & see how this plays out. It's not exactly time to start tying a noose & hang ourselves  3$ when you have 200btc it's a loss of about 600$, it every depends on how many coin you own, if u have 1 o worries but if u have more a dump of 10$ would be a lot of money I'm down a few hundred thousand from last year, up a few hundred thousand from 2 years ago. A $3 or $600 loss is no big deal when you think of how much you'll be up this time next year. Rather telling when the ones with the most skin in the game are the most calm. Sideways all summer. As low as possible for as long as possible.  I see my bitcoin net worth go up/down ~$3K for every $10 btc price swing. Doesn't faze me a bit, but the silly n00bs who are afraid to HODL a single btc and are just looking to make a few bucks to buy the latest cheap trinket (that they'll forget about in 6 months) would be freaking out. They are the true weak hands. And I'm still buying when I can, without any fear. To create real wealth, you must have a long term vision and balls of steel. |
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I can imagine a bit of both accumulation and distribution; that is to say, much like many other markets.
I think there will be the 99% / 1% kind of distribution all over again. Average people in a decade will likely be buying in mBTC while there are a couple of large holder companies that have been collecting all along without trying to disturb the public market. As I write that it reminds me of the gold market.
This. Average Joe bitcoiners see the price doing nothing, so they do nothing (i.e., don't buy, don't accumulate). But they are mistaken to think that MM's, large institutions, banks, etc. are not quietly accumulating right now. It's easy for them to accumulate off exchange directly from large miners (or perhaps they ARE the large miners? Hmm?) without moving the market one iota. Then they will run it up when they are ready. This happens in pretty much every equity/asset market on the planet. This is why over time in the future the majority of Bitcoin will likely be owned by the 1% wealthy oligarchs. Because Average Joes are just completely ignorant of how the financial world really works. |
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The Chinese average joes are so gullible. Did it never occur to them that Bejing and the PBOC took up sizable market positions years ago, engineered the recent market bubble, then dumped on the retail investors? So their Chinese gov't has no intention of doing anything except continuing to play the market right now, as they ARE the whale traders in their market right now. |
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a simpler question would be 'is max keiser a scammer/shill/spook?'
Unquestionably a silly sausage. I don't think he did his credibility many favours with the Quark thing either. And don't forget Maxcoin. Yeah, he went there. |
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"What have the core devs ever done for us?" It doesn't matter. At all. This isn't academia - there is no tenure in Bitcoin. Their position is contingent every single day on their continuing ability to produce new value.They can choose to embrace that reality, or they can choose to pout about it. Bitcoin will be fine with or without them. well put JR. i hadn't even thought about it that way. and what we absolutely don't want is core dev thinking that Bitcoin "owes them" something. you do know that also goes for Satoshi and Gavin ? Yep, but how to get rid of the "bad actor" core devs that are now clearly trying to push their own agendas and self interests? Why are they now 'indoctrinated' and unfire-able? Even Hitler could be said to have added value. Satoshi clearly didn't have a plan to manage the core devs, or even a code of conduct as it seems. We need a Bitcoin-equivalent Hippocratic Oath for the core devs, as well as a way to tell them to buzz off. Maybe the Foundation can get to work on that.  |
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What do you suggest now? Buy or sell  ? I would suggest staying there where you are not selling and not buying, not a good time. Right, because consumer adoption always increases when no one buys.  |
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this really isn't good and is reason for us to want to increase the growth of new users by whatever means necessary:
Despite a decline of approximately 40% in bitcoin purchases, Connie Chung, senior payments product manager at Expedia, says the option to pay with the digital currency will remain as long as there is a demand for it.
Chung noted other merchants had been more affected by what she called a recent decline in bitcoin payments – with some reporting a decrease of up to 90% at various industry events.
According to the report, the fundamental challenge facing bitcoin as a medium of exchange of legal goods continues to be low consumer adoption and a lack of advantages over credit and debit cards.[/b] http://www.coindesk.com/expedia-exec-purchases-with-bitcoin-are-down-40/?utm_content=buffer59a4e&utm_medium=social&utm_source=twitter.com&utm_campaign=bufferYeah, I like the way Expedia et al acknowledges this and yet still offers ZERO incentive (e.g., NO discounts) over using a credit card. Also from what I know, they still limit bitcoin to just hotel purchases??? |
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So for it to even get to $32k/btc, millions of people have to happily be buying at that price, yes? So why would they? Why would we all be happily buying more at that price?
Supply versus demand. The supply of bitcoins is limited. The demand will grow. ...It's the equivalent of saying that Gold is cheap at $1100/ounce, since it will be at $30k/ounce...
For years gold was $35/oz. It could certainly go a lot higher than $1100. Some people just don't get it, will never get it. Hey, you're talking to a bitcoin bull here. I'm still in. But going on 2 years of nothing and I'm still seeing, well, nothing going on. Seriously. Adoption ground to a halt. People have lost interest, and sold at a loss. No major retailer integration announcement since early 2014. It's getting a little ridiculous at this point. |
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I bet we'll see 269 or 265 before 300 again, but 280 is a fucking good buy, and so is 300, FFS its going to 32,000K next bubble scheduled for take off in ~2years, buy or die.
Welcome back Adam's. Hope you had enjoyed your vacation buddy. You are right, even at $300, still it's very cheap. I will be buying around 4.5 coins within the coming few days to add to my stash. So it's cheap at $300, but not at what... $32k? So for it to even get to $32k/btc, millions of people have to happily be buying at that price, yes? So why would they? You guys don't get it, will never get it. Not quite. We just need a couple of banks and hedge funds with billions  Never. Gonna. Happen. Banks are laughing at bitcoin. Best hope is that some whales pump the hell out of it again, and a couple million young retail investors are foolish enough to buy at literally any price. Because "to da moon!", FOMO, and all dat stupid nonsense. |
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I bet we'll see 269 or 265 before 300 again, but 280 is a fucking good buy, and so is 300, FFS its going to 32,000K next bubble scheduled for take off in ~2years, buy or die.
Welcome back Adam's. Hope you had enjoyed your vacation buddy. You are right, even at $300, still it's very cheap. I will be buying around 4.5 coins within the coming few days to add to my stash. So it's cheap at $300, but not at what... $32k? So for it to even get to $32k/btc, millions of people have to happily be buying at that price, yes? So why would they? Why would we all be happily buying more at that price? You guys don't get it, will never get it. It's the equivalent of saying that Gold is cheap at $1100/ounce, since it will be at $30k/ounce soon and people will be gobbling it up at that price. |
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I find it interesting the falling sell pressure on the 12h. Clearly someone thinks we're bottoming out soon, and wants to go up. StochRSI has bottomed here as well.
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That's probably what the dinosaurs said about that comet in the sky.
I ain't being bearish, just realistic. I don't see how anything with a 4 billion dollar or so market cap can be considered any type of player in world finance or truly reactive to events. It might be a sentiment indicator but even that's debatable considering how warped this market is. If it was 100x bigger then we might be talking. +1000, you totally nailed it gentlemand. It's the reason why the U.S. banking industry scoffs right now at Bitcoin, as the banks do more $$ volume in a 5 min period than bitcoin does in a full 24 hrs. We have SOOOOOOO far to go, and even at 100x, bitcoin would still be an ant-sized market. |
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3 years of watching this market can tell you a lot of things. I could tell just by the lack of serious volume, that this whole pump was temporary. It was clear that a few small pocket whales (colluders?) started this whole thing, utilized the rise based on the impeding news in Greece.
Even if it had spiked more on a Grexit vote, it would have petered out eventually as the really deep pocket Global MM whales were not involved in the least. They have plans in the future for another 2013-like scenario, but that future is maybe not this year. Maybe 2016 or 2017, who knows.
Trust me, when a true skyhook rally comes, it will be a completely different story. Monothic buying volume will suddenly appear and increase over a period of 1-3 months, and the price will rise dramatically, several orders of magnitude. This is when you know that something big is happening. It usually precedes some large global news (e.g., think the news in Nov 2013 of the U.S. giving a green light to Bitcoin, something on that level). And it will likely coincide with another U.S. stock market bull run.
I still think a new bull run has indeed started, although we might drift slightly down/sideways for many more months. A great buying opportunity from here forward.
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Well, so much for buying the dip.
Not sure what you mean, but if it gets anywhere near 250 or below I'm buying more. Continuing to build my long position. I'm looking toward next year. |
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Right fellas. I head to Greece this weekend for 2 weeks and will give some updates in a dedicated thread here in the spec forum if people want it..
If you're not lying, then if I were you I would cancel my trip immediately. Expect complete public unrest and total chaos to breakout there in about 2 days. Think Arab Spring, riot-in-the-streets type chaos. You forgot dragons spitting fire and Freddy Krueger with his new saw, cutting off heads on the streets... Looks to me like things are heating up on the streets in Athens... it always starts this way. http://www.nbcnews.com/video/tension-rises-in-greece-475268675897 |
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metals have a intrinsic value while bitcoins does not. i no longer trust bitcoin because it is, in my opinion, manipulated by whales and exchanges.your in the club or your not... their are predators out hunting for some poor newb who invests a bunch money into the scheme while they pump it and then they turn around and dump on them causing them to fear and dump their coins at a loss for their gain.. you trying to claim that is a system we can trust ?? this is my new opinion about bitcoin.
There is no such thing as intrinsic value. Gold's utility value is pretty low and its current price is mostly speculative. Good luck with that. +345 I would not even say that Gold is speculative anymore. When one or a few powerful entities of the world control 99.99999995% of a subjectively high valued asset, they can basically set the market price of the remaining supply to anything they want. Especially if that remainder has been fractionally reserved to hell, like PM's have been. Just look at what De Beers had done in the past to the diamond market... Side note: Don't buy diamonds for your wife/fiancée/gf, buy moissanites! Stop supporting the cartels! |
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