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You know what's more excruciating than a high volume dump down to $180? A slow, 12 month grind down to $180. From the average Joe, I'm sensing a huge amount of apathy for bitcoin right now, which sucks.
Why no apathy in the years before Jan 2013? Are we still way above what can be supported?
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No effin' way in hell I'm trusting my btc to a proprietary hardware phone wallet that'll be backdoored by the NSA/gov't, and can track every single transaction made.
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So why would anyone trust a Qualcomm hardware bitcoin wallet built into their smartphone if it was proprietary? |
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Don't worry, the moment that tens or even hundreds of thousands of people suddenly decide they all want a single bitcoin at the same time will happen eventually... it's called a rally.  |
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I especially love this quote about the Friday selloff in equities:
"China. There's been plenty of talk about a bubble in Chinese stocks. Today government regulators took steps to try to crack down on so-called margin trading. They are also allowing more short-selling where people can bet that stocks will fall. That didn't go down well with investors who began to question if a market that is up over 75% since October can sustain this pace, especially as China's economy slows down."
So let me get this straight, if the Chinese gov't senses that there is a bubble forming in their stock market, they step in to actually restrict margin trading and INCREASE the ability to short-sell? Wow, some free market they have there. It's no wonder their stock market never goes anywhere, and their people can never be allowed the freedom to think for themselves and invest how they want.
I wonder if they have done this with the Chinese bitcoin exchanges as well?
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Cointelegraph and Cryptocoinsnews are like the "Captain Obvious" of the Bitcoin world. They print so called 'breaking news' that is easily found elsewhere, sometimes days before. And every time the price swings or is trending they quickly print a 'trend prediction report' that's so laughably bad and obvious, and always has the disclaimer at the end of "We think the price should swing [up/down/sideways/take your pick], but we don't know for sure and could go the either way." What a joke. Lol |
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Those invests in the stock market and those who invests in Bitcoin are different people. There might be some who dumped their bitcoins to trade stocks instead. I believe these are the minority, at least in money terms.
indeed. Those who invest in BTC usually don't have enough money to invest on Stock Markets or Forex.Of course after each bubble things changes and some people cash out from BTC to invest in other stuff I love how you two make this sweeping generalization (that's completely wrong), and then pat yourself on the back in agreement  |
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3. Barry lied about Wallstreet getting in Q2 2014. That was a fkn year ago, Barry.
4. Another exchange launch will do nothing for the price except maybe a small PnD. Look at the announcement of Coinbase's exchange launch... did nothing except a quick pump and then back down again.
5. The twins are always a day late to the party, they keep getting lapped by other players
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Notice the fine print: "Genesis hopes that rebranding as its own entity will help the firm gain new clients", he added. Translation: "We've been laughed out of town as SecondMarket, so we decided to rebrand ourselves as Genesis and hope no one notices."  |
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My play stash is waiting to buy in at 198.
That said it could be a ruse to draw in shorts. 4.5k added today. Longs unchanged at 25M. A quick flash crash into the 1xx's would be painful but isn't out of the question.
I get the feeling it is the same guys moving the price up and down and manipulating the orderbooks.
Always remember this: At the beginning of Oct 2013, bitcoin was still going sideways with little volume. Then there was a sudden 30% flash crash (130--> 90). Then it immediately rose, and the rally took off soon after that. Hmmm, thinking back, I wonder why someone would want to flash crash the market right before starting a huge rally? |
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Collection of the best names so far for our beloved fake/scam exchanges: OkCoin = NOkCoin, 0kCoin (ZerokCoin), OkGox, fOkCoin, OxCoin
Please feel free, to add names for other "highly" trusted exchanges. NotOkCoin JustOkNotRealGoodCoin JustOkNotForChildrenWhoCan'tReadGoodCoin |
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Not surprised at all to see price bounce off the totally-not-fake $229.99 resistance wall. Do whales really think we're still this stupid, after watching the charts closely for 2 years now? |
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Soon TMYeah, at this point I expect the same to happen as all the other great bitcoin-related news: Absolutely nothing, or dump. |
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Yeye m8, never underestimate power of chinese wash volume
Wtf m8, do you know what that even means or what you are saying? |
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We are, pretty much, right on track. If you look from the bottom recovery a few months ago, and draw an averaging line, we have hit above, and now below, that line. If we continue up, we'll be 100% right on track to another bull swing.  I hear you brother To play devil's advocate, I can honestly say that the price is going nowhere without a 'push' higher from some high net worth people. It certainly won't come from Joe Public, as all they have to do is look at a 15 month old price chart and go "Eh, oh hell no! No sign of life, and might still be falling further." We need an uptrend to show on the charts for many more months, maybe a year, before Joe Public starts to take interest again. Or we need a surprise pump that catches people off-guard (like in 2011, and Jan 2013). Sad but true. i disagree i have lots of friends that i've been informing about bitcoin for a while now, none of them bought, they all wish they did, and they've been thinking of buying ever since the bubble, but we're fearful of buying because i was saying things like "bear market" I've told them it was a good buy at 400, months ago, but they didn't buy. its one thing to say I'll buy some, and its an other thing to actually set up an account get verified and transfer money I bet if i pushed a little i could get them to buy a few off me right now, I keep telling them to make an account and buy in slowly, but this is to difficult for them, i'll have to be there dealer. I plan to show them the "use bitcoin anywhere paypass is accepted" thing ( I should have a account of that when beta is ready ) they will see first hand how easy it is to buy stuff with bitcoin, by then the bull market will be self evident, i figure i can easily get them buying 300-400$ coins at that point. ( which is a very nice entry point if you ask me, 32,000$ in < 2 years poeple...) the things i do to make sure my friends make sound investment decisions... unbelieveable. The thing is, for people that don't know anything about bitcoin, but are curious, they will buy purely based on emotion. Your friends will see the price flying high (on a pump), have this 'ah ha' moment where they say "Adam must have been right all along!", struggle to quickly get their accounts set up, struggle to get their first purchase made (and perhaps denied because a false 'high risk' flag gets tripped), yada yada, and finally by the time their first purchase goes through, the price will have tripled from whence it started It will probably rise from there, and they will continue to hold and pat themselves on the back for finally joining the 'wealthy elite gentlemen' club. And then comes the inevitable crash, out of nowhere. But maybe they will still hold. The only sad thing is, 12-18 months later, the price they paid could well be 50-100% HIGHER than the new low point it may make. And if they held to that point, they would be disappointed and sad, along with many others. I would argue that PnD'ing bitcoin is bad for bitcoin. It attracts the WRONG kind of people, the "lotto-winner-get-rich-quick" mentality crowd. We need everyone involved, not just the "I'm only buying if it keeps going up" crowd. But it seems that's all we have right now. On the flip side of that argument though, if all of the Lotto players in the U.S. would instead take that weekly throwaway lotto money to instead bet on bitcoin, OMG you would see a continuous, epic rise in price almost overnight. Sadly though, they actually believe that they have a better chance to win the lotto than win big long term with bitcoin. |
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We are, pretty much, right on track. If you look from the bottom recovery a few months ago, and draw an averaging line, we have hit above, and now below, that line. If we continue up, we'll be 100% right on track to another bull swing. I hear you brother To play devil's advocate, I can honestly say that the price is going nowhere without a 'push' higher from some high net worth people. It certainly won't come from Joe Public, as all they have to do is look at a 15 month old price chart and go "Eh, oh hell no! No sign of life, and might still be falling further." We need an uptrend to show on the charts for many more months, maybe a year, before Joe Public starts to take interest again. Or we need a surprise pump that catches people off-guard (like in 2011, and Jan 2013). Sad but true. |
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The last episode of Silicon Valley was uncanny...and I think that it is related to what happened to bitcoin.
"Silicon Valley" (HBO show)Plot: Richard is voluntarily reducing his company valuation in the series A round on the advice from Monica as to not to have a crazy initial valuation that "Pied Piper"-their company- cannot live up to. Presumably, this would cause up-rounds and steadily increased valuation later on.
How this relates to bitcoin?
It was better for bitcoin to be at $10-30 and rising as it was in 2012 at 200-300% a year.
Instead, bitcoin blew up sky high to $1200, X100 fold or 10000% in a year!
Bitcoin could not hold valuation, and as a result, it is facing an equivalent of valley's "down" round, which manifested itself in criticism for excesses, Foundation alleged insolvency, overall negativity etc. etc. Who wants to be associated with a currency in decline?
Best bitcoiners should have limited the parabolic rise, instead, they praised it and now almost all long positions are losing money, reducing the desire of anyone to open a new long position.
Steady rise would have been so much more conducive to bitcoin development.
Oh, well.
It's almost as if powerful, wealthy people might have "pumped" bitcoin, just so that it's price can fall from an unsustainably high place, having the effect of actually discouraging the Joe Public from buying it because they don't trust it. Oh, wait... |
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Why do I get the feeling that everyone on this thread is an obsessive gambler, but no one ever wants to be truly wealthy?
For all the fkn around with bitcoin you guys do day trading (and mostly losing), I could have pointed you to at least 5 stocks that in 2014 would have doubled your money going long and holding.
where were you in 2010 genius? Don't you know? Bitcoin started at $1200 and has been falling ever since. It's been a one-way trip south. <insert images of tulips, Beanie Babies, the Titanic, pyramids, etc> In 2010 I was definitely not in the know about bitcoin (didn't find out until 2013). But had I known, I would have been excited and crazy enough to mail a check to MtGox from the US, praying to get my btc back. I wish I had known about it then. But I'm just saying that, while we've all had fun watching Bitcoin fall in price over the last 15 months, I've had two stocks in my portfolio that have nearly doubled (eg., DIS, KR). So bitcoin isn't the only "ride to moon" out there. |
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Why do I get the feeling that everyone on this thread is an obsessive gambler, but no one ever wants to be truly wealthy?
For all the fkn around with bitcoin you guys do day trading (and mostly losing), I could have pointed you to at least 5 stocks that in 2014 would have doubled your money going long and holding.
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