I bet we'll see 700$ (bitstamp).
400 I certainly placed most of my bids there. It's a sweet spot. But I LOL at your multi year bear market prediction. No more than 3 months of bear market if the fundamentals don't change; if the winkleevis ETF gets approved we are going to the moon (and then probably to single digits fueled by insane amounts of leveraged shorting, that would be an epic final bubble and subsequent crash in smoke and flames  ) |
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If we enter a bear market i bet it will be shorter than ever.
The run-up took just one month and a half, half of what we have seen from February to April.
I see the boom and bust cycles been shorter and more contained.
I tend to agree, although I think it's going to be longer then a couple hours or couple days bear market though. The run up was so china focused that we're going to really need some strong good news either form there or elsewhere to pop us out of a bear market with any speed. Otherwise, it's back to growing normally but at a slower pace. I think 3 month bear market would fit the pattern. The bubble was too big, it's going to take much much much more time to recover (if it does). Too big? 2011: $0.8 to $32 2013 (1): $12 to $266 2013 (2): $130 to $1242 The bubbles get smaller and smaller, and so the deflation of the pops. Plus, big money wants in. We are reaching the tipping point. There's global awareness. People won't forget about Bitcoin anytime soon, I LOL hard at those predicting a multi-year bear market. |
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Cheap coins for everybody, let's see how the panickers sell at a loss, hopefully they can take us well below $400...
Would mind three months of bear market
what about 2 years? I don't see how we could have 2 years of beat market. It doesn't fit the previous cycles, the duration of the bear market is related with the duration of the run up. Plus, there's no way BTC fades away for two years unless something disruptive happens, and by disruptive I mean something that takes it to 0. There is too much attention. Too much awareness. Too many product and services in term of infrastructure aiming to give liquidity to the market. |
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If we enter a bear market i bet it will be shorter than ever.
The run-up took just one month and a half, half of what we have seen from February to April.
I see the boom and bust cycles been shorter and more contained.
I tend to agree, although I think it's going to be longer then a couple hours or couple days bear market though. The run up was so china focused that we're going to really need some strong good news either form there or elsewhere to pop us out of a bear market with any speed. Otherwise, it's back to growing normally but at a slower pace. I think 3 month bear market would fit the pattern. |
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Cheap coins for everybody, let's see how the panickers sell at a loss, hopefully they can take us well below $400...
Wouldn't mind three months of bear market
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If we enter a bear market i bet it will be shorter than ever.
The run-up took just one month and a half, half of what we have seen from February to April.
I see the boom and bust cycles been shorter and more contained.
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Bitcoin is such a wonderful thing. If it goes up, it makes you happy because you see your wealth growing by the minute. If it goes down, it makes you happy because you can buy more of it. Probably the best thing in the world  |
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Bearish signals everywhere: technicals looking bearish, contrary indicators like rpietila and coinseeker just turned bulls, I'm starting to feel this rally is in serious danger.
Well, if we enter a bear market we will enjoy the cheap coins.
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Maybe I didn't understand but if you are saying that you are not taking responsibility to loss of MSC and the amount of time is the same why is a percentage fee justified on large trades?
Even where he doesn't provide a guarantee - he must take greater care in handling large BTC. Large transactions deserve a larger fee. Just not over $100. That is a lot. I'll be signing up for escrow job if I get $100 to make one MSC transfer. But nobody will use you because you have made 0 transactions on these forums, and you are a newcomer with very low activity and no seniority. Trust must be earned day by day - otherwise is too easy for scammers to do their thing in here. And yes, a 1% escrow fee is totally necessary. |
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that hacker is doing good indeed. +$2.5MM with a lousy trojan horse.
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What are the implications of these, to the distribution of bitcoin wealth to holders of different sizes of holdings?
Just off-topic ramblings. Thankfully this is an auto-moderated thread, so please proceed |
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Don't know if you are:
1) a troll
2) a pig getting slaughtered (A.K.A. "a retard")
3) a noob trying to talk down the price down so he can load the truck with cheap coins
Please advise.
How much fiat/bitcoins % you in right now? Depends on how you look at it. I'm not trading unless we enter a bear market, so in one sense I'm "100% in". On the other side, I recently converted 10% of my stash in fiat profits, but with the intention to spend it - not to buy back... Unless we enter a bear market and we revisit $300. |
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Its clear in Satoshi's early work that the final purpose of this experiment is to replace "dishonest" fiat money. He already knew that if BTC was to replace government-issued currency, banning and harsh fight would happen - this is why he created a system resilient to any kind of banning, and that's why he chose to be anonymous (and he "chickened out" hard when Wikileaks accepted BTC donations, he thought BTC was not ready yet for that kind of attention - he was mistaken).
Summing up: Bitcoin was never intended to be an "investment" or a "virtual commodity" - it was meant to be an potentially world-changing experiment that could disrupt the world current power balances.
Real bitcoiners know this. Real bitcoiners know that the final purpose is not to exchange BTC->fiat, but BTC->goods+services.
Real bitcoiners know that a "bitcoin ban" is not only *expected*, but it is also *needed*. Firstly and foremost, because BTC has YET to prove it is resilient, and that's a final proof. Secondly, because it will just mean that Bitcoin is going in the direction it was designed to go.
This "scare tactics" just shake out weak hands that see in BTC just a way of making a quick (fiat) buck. I know that most of the old timers wouldn't dump their coins if there is a global ban - would you?
This distinction between "real bitcoiners" and (presumably) the wrong kind of bitcoiners is too crude for my taste. And the question "would you dump all coins if BTC becomes illegal" is too simple as well (I wouldn't, at least not immediately, but I would keep my eyes open if there's an alternative showing up). The "virtual commodity" and "absolutely free currency/store of value" aspects are, in my opinion, deeply intertwined. You won't get one without the other. That's why my own mental representation of BTC resembles that of the Internet as a whole: largely unregulated, but not entirely so. Traceable and governed as far as agencies can, and if there's a strong interest (hur dur terrorism), they can do so quite effectively. Finally, ways to *circumvent* such monitoring and governing if you're technically savvy enough (Tor network comes to mind). All in all: no. I simply disagree with your spirited and idealistic, but also somewhat naive analysis of what BTC is and will be. It won't be entirely unregulated. It won't replace dirty fiat in our live times. But it will give those who know how to make use of it new means of channeling wealth around regulations, just like the Internet gave you that ability with respect to "valueless" information. SIDENOTE: sorry masterluc if this turns out too offtopic. let us know if we get on your nerves  I'm not saying what Bitcoin is or what it will be - I'm just stating what Bitcoin was designed to be. It's all in Satoshi's work, and it's a matter of fact. As he originally conceived Bitcoin, its illegal by nature, as it is an attack to the current financial system. Then, many things can happen: the Bitcoin Foundation can collude with Gov's and implement redlists and whatnot, or it may enter in a deflationary spiral, or maybe POW reveals itself unviable unless there is constant growth for eternity (which is physically unlikely). Summing up: I don't know what it will be, but I know what it was designed to be. |
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This is just getting started guys, stop suffering from myopia.
When I step back, by 20/20 vision sees triangles forming. Are you suggesting that they should see the price dropping further? Yes, I'd say theres a relatively small percentage of the bitcoin world actually seen this crash and news so far. Lets even say 50%. When they log on and see their purchases at 1050+ are now sub 1000, there could be even larger sell off's. But the news has already updated to say it's not such bad news. With that, I can't see latecomers panic selling when the charts also look like they might be bottoming. Dude stop reading what some bull manipulates the news to say as fact. It's bad news full stop. China's banning financial institutions from handling bitcoin transactions, if you see that as good news for Chinese exchanges or for bitcoin in China alone, your deluded. " At this stage, all financial institutions and payment institutions" - http://www.reddit.com/r/Bitcoin/comments/1s5hzl/my_human_translation_of_the_china_regulation/Do you actually inform yourself before posting? I take this as "We'll first check how we can tax the shit out of this" The important thing is that the Chinese government have eventually 'showed their hand', which we have all been waiting for. And it's not good news. Don't know if you are: 1) a troll 2) a pig getting slaughtered (A.K.A. "a retard") 3) a noob trying to talk down the price down so he can load the truck with cheap coins Please advise. |
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Daytraded/swingtraded until the recovery from the mini crash...cashed out completely and staying in USD until the big one brings us down to reasonable prices.
Ouch. |
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No bitcoiner with half a brain gives a shit about what the authorities say about BTC. Speculators are just selling to buy back lower. Bitcoin was *designed* to be illegal, and to be resilient to authorities actions. Keep 'em coming For someone as informed as you (and you usually are), that's a pretty shallow statement. Bitcoin is in many way not "designed to be illegal". Sure, it gives you (more or less) complete freedom to transfer wealth *to whoemever you want to, whenever you want to* (which includes illegal activity), but it also gives government agencies the ability to track you down and punish you (e.g. through the fiat/BTC link via exchanges). Just to see how hard it is to stay fully anonymous, look at the sheepmarket thief/ves being chased through half the ecosystem's tumblers  (but you know all of this). So in summary: you can do illegal stuff with BTC, sure. But it's far from certain you will *get away with it*, which dampens the freedom part quite a bit. Its clear in Satoshi's early work that the final purpose of this experiment is to replace "dishonest" fiat money. He already knew that if BTC was to replace government-issued currency, banning and harsh fight would happen - this is why he created a system resilient to any kind of banning, and that's why he chose to be anonymous (and he "chickened out" hard when Wikileaks accepted BTC donations, he thought BTC was not ready yet for that kind of attention - he was mistaken). Summing up: Bitcoin was never intended to be an "investment" or a "virtual commodity" - it was meant to be an potentially world-changing experiment that could disrupt the world current power balances. Real bitcoiners know this. Real bitcoiners know that the final purpose is not to exchange BTC->fiat, but BTC->goods+services. Real bitcoiners know that a "bitcoin ban" is not only *expected*, but it is also *needed*. Firstly and foremost, because BTC has YET to prove it is resilient, and that's a final proof. Secondly, because it will just mean that Bitcoin is going in the direction it was designed to go. This "scare tactics" just shake out weak hands that see in BTC just a way of making a quick (fiat) buck. I know that most of the old timers wouldn't dump their coins if there is a global ban - would you? |
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How much was dumped?
aprox: 30k on Gox, 27k on Stamp, 50k on BTChina just around $100MM only on those three exchanges ...pigs getting slaughtered |
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