In death, a member of Project Mayhem has a name. His name was Robert Paulson
His name was Robert Paulson. His name was Robert Paulson. His name was Robert Paulson. His name was Paul Robertson. His name was Robert Robinson His name was Robert Patterson. |
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This is happening in all markets, no matter how small or big. Only the players are bigger in bigger markets. Listen to this guy and see how the BTC market is the same as every other market: https://www.youtube.com/watch?v=gMShFx5rThINotice too in the video at 3:20, where Cramer talks about how fake FUD in the media is actually created and spread when you want a market down. His example is from back in the day, at the time trying to bring down the stock of Research In Motion, the makers of the Blackberry. He says, "...and then you call the [WS]Journal and get the bozo reporter to report that there's a problem with RIM, and feed them that there's a Palm giveaway [coming soon], etc..."Gee, sound familiar anyone? China FUD articles? The Newsweek witch hunt for Satoshi (aka Dorian) Nakamoto? (guess who the bozo reporter was, lol) Willy bot crap? Bitstamp insolvency fears? Oh wait, that's right. The bitcoin market couldn't possibly be affected by that type of stuff. /s  |
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If some bitcoiners believe that Apple is willing to actually lose marketshare to Android over this whole bitcoin thing, they are dead wrong. Even Apple sees the writing on the wall that in just a few short years, bitcoin is going to be e-v-e-r-y-w-h-e-r-e, worldwide. And the main apps people will use to buy goods and services with btc will be on a smartphone.
No way they are going to sit on the sidelines and watch this blow up big.
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Chances are the guy is going to be wrong, but on the other hand, so are most of the people that said it was going to be $10000 by now. I don't see anyone laughing at those people, though.
Oh really? Somebody made a public statement that bitcoin is going to be 10000 by June 2014? I must have missed that, please link, I want to make fun of him. If you are a public figure and a supposed professional in the area you are speaking about, and you give exact date and price, then after that date comes you say "Maybe in a thousand years but it will happen" well you lose all respect, that's what happens. That is why stock analysts never say "this stock is garbage will be worth pennies in a week", they always say that it might unless it does not. This guy was sure about his prediction. That makes him an assclown, unfortunately. See if he'd be right by some miracle, everyone would be singing praise as to how smartly predictive he is. But he was not just wrong, June coincided with the strong 100% growth after a reversal from a bottom - the bottom which happened to be about 35 times over a price that he called. With that level of accuracy, any random number generator is a much better professor than he. Agreed. Not only did Mark Williams say it in print, but made himself more of an assclown by saying it on live TV. In a N.Y. state hearing, broadcast to over 100+ countries. And then he didn't stop there, he did it again and again on live TV. And was probably paid (both privately as a shill against bitcoin, then again by the networks just to appear) to do so. Then again recently defending his ridiculous prediction, but giving no timelines. I wouldn't be surprised if this guy isn't working on a controversial anti-bitcoin book right now, just to try and make some more money and extend his 15 seconds of fame. What. An. Assclown. |
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price action suspected @ ~23:45 UTC  Looks like possibly going down... Wrong interpretation of direction, dude.. |
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http://www.kitco.com/finance/bitcoin/Not sure if old news, but this seems like a big deal. Kitco has been around since the 70's. Also, did anyone notice on the CNY page/tab that at the bottom, btcc is listed along with bter and btc38, but no OKCoin or Huobi?
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Indeed, I am watching the 530-550 zone closely for a base to take off to the moon from. We've been feeling overbought for several days, and may need to shake out some more weak hands before doing so.
I love how so many on this sub forum that expect a "drastic correction" always put their buy-in targets at $80-100 below where the market will likely go. And then they are left scratching their heads when that drastic of a correction never happens. I believe that the new ~600-ish support is going to be very tough to break now. |
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Let's look at the facts :
No bad news for weeks.
China FUD just disappeared overnight? The witch hunt FUD for the real Satoshi disappeared overnight? Bitstamp insolvency fears, Willy, Gox, and all the other bad news gone? And for some reason, you don't wonder why that is? Couldn't possibly be on purpose, by design that all bad news just magically went away, could it? And you think that's air you're breathing now, Neo? 
(full disclaimer: I'm a permabull, but I know exactly how the media works, when, and for what purpose) |
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Here's the thing, in the bitcoin world it doesn't matter how great some piece of news is. If it comes out during a down trend, it can be the greatest news in the world, but will still have little to no effect on the price. For example, if the news "Amazon now accepting bitcoin" came out in March, it would have had little effect to reverse the downtrend.
Now if that same news comes out in the next 3-4 weeks (and just so happened to be timed perfectly with the pre-bubble top) it would have a MAJOR upward effect on the price. This happened in November with the Senate hearings giving bitcoin thumbs up. I wouldn't be surprised if some more good news just so happens to come along in the next 3-4 weeks.
And of course, the next bubble pop will be timed with some really bad news out of left field (which someone is saving to deliver at just the right time), I can pretty much guarantee it.
This market is still just so sentiment driven because it's small, and the powers that be KNOW that.
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Litecoin being traded to pump Nxt, Darkcoin, and Blackcoin. Guess what happens after the pump? Buh bye |
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Old and outdated article. Also the article itself is pretty much garbage and kicks in a bunch of open doors, but I guess it's not that bad considering it's written by a high school student. Outdated? The date was like 2 days ago. |
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Oh cool, another fly-by-night crypto news site, with so-called bitcoin TA "experts" that simply state the obvious and don't know jack. Really like some of these quotes from the article: "This volatility has not been uncommon in Bitcoin’s history; Bitcoin has seen numerous rises and falls in value. Speculations have arisen about the cause of this increase."Wow, ya think? Never noticed that. "The roller coaster value is often attributed to good or bad news."Such insight! Is the writer a wizard? "CCN writer Venzen Khaosan thinks that the “price will reverse from current levels around $600 and may retrace at least 50% of the advance to $520″, and that “traders and investors should brace themselves for a strong price reversal.”Got it wrong. |
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Where's Mark Williams these days? From December: "One of the harshest critics is Mark Williams, who teaches finance at the Boston University School of Management. He predicts that in the first half of 2014, bitcoins will lose almost 99 percent of their value, falling below $10. " http://www.washingtonpost.com/blogs/the-switch/wp/2013/12/10/this-finance-expert-thinks-bitcoin-will-fall-99-percent-by-june/Just bugs me to no end that there's essentially no career risk for these "experts" to make such harsh predictions and be so thoroughly wrong. If an engineer is ever that wrong, bad things happen, and they don't get work again. When a finance/econ guy is aggressive, harsh, willfully ignorant, and ultimately dead-wrong....his career is usually just fine. Yep, so called "experts" have been making wrong predictions throughout time, some of them so blatantly wrong it's ridiculous. Especially in the last 100 years or so. And since there is zero penalty for some "expert" asshat to made a terribly wrong prediction, it will just continue ad nauseum in the future. http://www.rinkworks.com/said/predictions.shtmlhttp://www.professorbitcorn.comMark Williams has 30 days left to be correct, or get laughed out of existence. It's completely plausible that we may see an ATH in 30 days or so, which would be even funnier. |
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You could possibly attribute this entire chart to the advancement of tumblers.
And the growth could also be attributed to the payment of mining rewards to hashers. I perform a couple of transactions each day. One of those is a daily purchase of fractional bitcoin from my local ATM, and the second is a small bitcoin payment from someone who leases one of my three GPU mining rigs to mine altcoins. I am postponing Bitcoin spending during what I believe is the run up to the next, widely expected, bubble. The Bitcoin Pulse web site tracks numerous fundamental Bitcoin adoption statistics. I would assume that as bitcoin true e-commerce (i.e., more places for users to actually spend bitcoin, financial institutions, etc.) takes off, and provided that Coinbase and BitPay don't dominate the merchant market and execute every transaction off-blockchain, it's possible that yearly transaction growth of 3.2X could grow to something higher in the future? |
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^^^
SS, what does this transaction volume extrapolate out to on the above chart over the next 3 years? Is this a linear growth rate in transaction volume, or exponential?
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Disagreed on the "led by China" statement. I made my case against that often enough now, so I'm not repeating it here. China is a large factor still though, so if it's just hyperbolic phrasing to say that, I'm okay with it.
The volume surge on Huobi was 2 minutes ahead of Stamp. This isn't up for debate, it is there in black and white (or red and green).Sorry, but this happens almost 9 times out of 10 and it cannot be ignored. You're right for once: this isn't even up for debate. The spikes, in chronological order: 14:17 Bitfinex 111 xbt (local spike, but not a huge order exactly. I'd call it "the rally starter, part 1") 14:18 Bitstamp 693 xbt ("the rally starter, part 2") 14:18 Huobi 42 xbt (how things got started in Matland) EDIT: and if this is about the first impulse of the breakout, then: 11:30 Huobi 286 xbt 11:31 Huobi 594 xbt 11:32 Bitstamp 943 xbt / Huobi 842 xbt Summary: Huobi indeed began the first impulse of this local rally 2 minutes earlier than stamp, but within 2 minutes higher volume order(s) came in on Bitstamp. That's not what it looks like if "one exchange leads the other". That's "exchanges getting each other in a buying frenzy". Not to mention, MatTheCat never seems to ponder the obvious truth that a few whale traders have multiple accounts on different international exchanges (e.g., Whale #1 has a trading account on both Bitstamp and Huobi, thus being able to play sides of the rally on multiple exchanges simultaneously). So saying that "China is leading this rally, not the other nations" is misleading and possibly just plan wrong. |
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The market is reacting badly to rumors of Bitstamp's impending collapse.
Merchant adoption and that sort of thing is priced in already.
I desperately hope that Bitstamp will not collapse, but if it did, is it similar sized to Mt Gox, or bigger or smaller? I fear it would be the end for Bitcoin. Impending collapse, you say? A world leading exchange that not only imposes self-audits from 3rd parties every quarter, but also actively encourages other exchanges to do the same? Ok. I'm gonna quote myself, from earlier in this thread: Notice that Mike Hearn, who did the last "audit", clearly stated that it was not an audit. He said the only thing he could confirm, was that Bitstamp still held around 189k BTC of their customers' funds. That's it. And why should we trust him anyway? Oh, yeah, because he's from the Bitcoin Foundation, like Saint Mark Karpeles. Everyone in the Bitcoin Foundation are trustworthy, of course. They're incapable of doing evil. And btw, they didn't show him (or anyone else) their fiat reserves. (If they have any left.) I wonder why ... Yeah, saw that you're a newbish account here, and the majority of your thread responses are trollish and full of doom. Guessing that you are a troll day trader. Welcome to ignore. |
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The market is reacting badly to rumors of Bitstamp's impending collapse.
Merchant adoption and that sort of thing is priced in already.
I desperately hope that Bitstamp will not collapse, but if it did, is it similar sized to Mt Gox, or bigger or smaller? I fear it would be the end for Bitcoin. Impending collapse, you say? A world leading exchange that not only imposes self-audits from 3rd parties every quarter, but also actively encourages other exchanges to do the same? Ok. |
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I read the title as "Why are psychotics bearish on bitcoin?"
And then I thought, yep... sounds about right. Herp derp.
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There is a good chance the USSA will do the same as China and restrict banks and payment processors from touching cryptocurrencies. That would test below 400, I assure you.
interesting. i tend to agree on the outcome, but what kind of probability do you put on this, and what kind of time frame? it seems like, thus far, USA has been pretty favorable to crypto. Good lord, yet another clown to put on ignore. |
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