Here's a 'big picture' EW analysis using Mt.Gox + Bitstamp price data:
Sorry, I wasn't specific enough. I mean analysis zooming in on the particular post-bubble times analogous to where we are now. |
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I can tell that you are a man of discerning tastes so for you, for a one time special offer of 150 BTC, I present to you, my dear old maw....
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You have to be careful comparing these charts because, aside from the differences in fundamentals between the coins, the bitcoin chart is priced in dollars (a stable currency that traders do not generally tend to look beyond - ie "if I sell my Bitcoins here how many Euros will I get for my dollars today compared with yesterday") and the darkcoin chart is priced in Bitcoins (a volatile currency the dollar value of which traders check multiple times per day).
eh. I think you'd better think that through again  Some Monty Python logic going on there.I wish I could have the honour! But no - the fact is that the difference in price denomination makes for differences in price behaviour. Just to give one example, if drk was ever to reach parity with Bitcoin you could expect some pretty important resistance right there. But what would the analogy be for Bitcoin? |
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Don't worry! That's not a valid count anyway. gizmoh, Y MUST end beyond the end of W unless Y is a triangle. Your (Y) = B is not valid. I can see the rise since $339 as an ABC, but not a wxy. Out of interest, can anyone give a link to a retrospective Elliot Wave analysis on the previous bubbles? |
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Most of the other alt-coins are declining in price right now. BTC and LTC are holding up pretty well and have stayed pretty flat today... Namecoin and Peercoin are not doing so hot...
The fault of new alt-coins Drk, Xc,Nxt etc which brings new features and are more hyped. LTC is being kept alive by a massive bid wall on btc/ltc chart. Furthermore ASIC for scrypt is adding constant selling pressure to recoup their mining hardware investment. good analysis. I don't see the point in LTC any more. 2nd coin will probably be some other coin. At the risk of sounding controversial, I think it will become a battle between lite and drk ! Hi T.Stuart...what do you think about NXT? Also a contender to beat ltc of course but proposing a different angle from ltc, btc and drk... but it has competitors and has been around quite long without taking 2nd on coinmarket from ltc, which makes me think it will have a harder time gaining the traction necessary due to being old news. But that said it does seem to be getting pumped at the moment... |
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Sucks that you used bitcoin since 2010 (guessing, not sure) [and did not find a stash you forgot about or something on your harddrive] and rebought in 2013.
Nope...no stash on old USB stick or nothing. Even have the same wallet on my hardrive, showing old 2011-12 transactions for numbers like 177 BTC. Just around 500 quid worth or something back when that particular transaction was made. I would put my mother on the game to get those 177 BTC back alone! I believe in karma. MatTheCat, your time dispensing TA on this forums will be rewarded. I hope you make some winning trades and get back some of that stash. No no no.. please just lock most of what you just bought away and play with the rest. In fact, if I've got it right Mat you've got about 60 BTC or so. So put 50 aside and play with 10. Then you still have the best chance of becoming a millionaire in dollar terms (BTC to $20k is perfectly feasible I think). |
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Most of the other alt-coins are declining in price right now. BTC and LTC are holding up pretty well and have stayed pretty flat today... Namecoin and Peercoin are not doing so hot...
The fault of new alt-coins Drk, Xc,Nxt etc which brings new features and are more hyped. LTC is being kept alive by a massive bid wall on btc/ltc chart. Furthermore ASIC for scrypt is adding constant selling pressure to recoup their mining hardware investment. good analysis. I don't see the point in LTC any more. 2nd coin will probably be some other coin. At the risk of sounding controversial, I think it will become a battle between lite and drk ! |
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Here are a couple of charts, one is the bitcoin chart, the other is darkcoin.   You have to be careful comparing these charts because, aside from the differences in fundamentals between the coins, the bitcoin chart is priced in dollars (a stable currency that traders do not generally tend to look beyond - ie "if I sell my Bitcoins here how many Euros will I get for my dollars today compared with yesterday") and the darkcoin chart is priced in Bitcoins (a volatile currency the dollar value of which traders check multiple times per day). |
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Son! You need to get a real life girlfriend, much better!
What, with the fundamentals of DRK? Difficult! |
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Would love to hear everyone's predictions of when BTC will reach the vertical stage of the S-curve.
Either 1.5 years or never. |
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CoinJoin is trustless— which is orthogonal with centralized or decentralized, it could be implemented several ways (though trustlessness is usually a prerequisite to a decenteralized implementation). Post 5 in the CoinJoin thread writes in depth about implementing it in a decenteralized way, none of which appears to have been implemented by the darkcoin developers as far as I can tell— from what I've heard it seems that they're not even able to understand it. (This is a disappointment to me, since I was trying to describe these ideas clearly so others could understand them.) More amusingly, what DarkCoin does is highly centralized because the software is closed— you can't get more centralized than closed source. What the actual behavior is, is anyone's guess— it's impossible to review due to it being closed— though "masternodes" does not sound like something decenteralized, it sounds like something that creates a small chokepoint which could be used to deanonymize its users, like a server based CoinJoin but worse since you have to hold a huge pile of coins to run a server. As I've said before CoinJoin is interesting because it's inherently part of Bitcoin already— it just needed better tools (and now there are some, e.g. darkwallet) to make it available to people. It's a privacy improvement over not having it, but it isn't perfect, but it also didn't require any changes to Bitcoin (much less a whole altcoin) to deploy it. In an incompatible system much better is possible as is proposed by ZeroCash and much better is actually _realized_ by Bytecoin (and its forks... Monero, Fantomcoin, etc.), the later are actually working (if immature, due reinventing many wheels) implementations of much stronger privacy, decenteralized in their implementation, all released under a good open source license. From what I can tell the only purpose DarkCoin serves is to depress me about the state of humanity. Wow, so I think you need to go back and look at how Darkcoin started. It was my hobby, I wrote X11 in a weekend and launched it. I was thinking I might be able to write the anon tech into the wallet using a variation of Coinjoin, which I started afterward. Darkcoins success was much like Dogecoin, an accident. Please read this: https://darkcointalk.org/threads/the-birth-of-darkcoin.162/Had I know what was going to happen, I would have obviously taken much more care with the launch and tested everything thoroughly. It's too bad we can't all get past that, it irritates me seeing this constantly everywhere. If you want to checkout the source for Darksend and see how it works I'm open to that. I think you'd be the best person to look it over before it's opened anyway. Respect to you Evan for offering up the code to scrutiny like this, as you promised. And who better to check it out... |
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I have taken what I have left in my Bitstamp account, turned it into Bitcoin @$660, and transferred it to an offline wallet.
From your previous posts regarding your Bitstamp balances you now have IMHO a not-so-bad chance of becoming a millionaire in fiat terms... provided you bury the keys to your wallet in concrete and then go on that overseas trip you were talking about a while ago. |
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I don't think $10K is happening anytime soon, maybe 2 yrs at best.
1.5 years will do it I think. |
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Maybe a picture tells a thousand words:  I'm amazed at all this simplistic picture comparing going on. One of these graphs shows USD price; one shows price in Bitcoin: a powerful reason (among others) that comparing these graphs is a mistake. |
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I don't have any DRK currently. I sold @ 0.024 and ill wait until the bottom to buy back in. The sooner the bottom comes the sooner a new bubble forms and the market can look to 0.1 as the new target
Wow you seem to be able to call all the historical peaks and troughs really well mikemike.  |
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You don't need deep TA because these are fundamentals.
Great crypto T-shirt slogan you got yourself there. |
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Ill quote you on that when we've broken through 0.01.
Is that you dumping your 1000 DRK to make a point, mikemike ? |
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Check the 12h charts, the google 'stock bubble pattern'. The two images are identical.
Deep TA you got there |
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...take profits for a while in a kind of orgasmic gush... I'm still long (just not as long as I was before)...
OK I get it.  |
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What other developments are there for DRK? I've been watching the charts and it seems pretty quiet for DRK. Then all of the sudden the trade volume is #1 on Mintpal. Does anyone know what's causing this or is it just residual effects from the recent media attention on DRK? It kinda sucks because I bought in a lot during the crashing phase.
May I suggest a relatively small amount of patience? |
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