Pulled back under. Rally does look toast from here. It would be full retard mode if we kept going higher
Look at the volume. It is already full retard mode. All forms of extrapolation will fail at this moment since we are entering the great unknown. |
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Case in point, we're in a thread where someone was upset because nodes were blocking transactions of theirs which were creating purposefully unspendable txouts (e.g. adding non-Bitcoin bloat to the UTXO set)
This topic highlights the issue that even changing a seemingly harmless parameter can break software. Just because this time the software happened to be controversial does not justify what happened. Same thing could happen to any service that utilizes OP_RETURN somehow. This, for example: https://proofofexistence.com/in order to run a commercial service called "crypto graffiti" which does what it says on the tin.
CryptoGraffiti is not a commercial service. By commercial service you probably mean paystamper.com which is an idea of a guy from the US who contacted me on this forum wishing to monetize cryptograffiti. Cryptograffiti only allows you to convert plaintext into bitcoin addresses (for free). You have to compile and broadcast the TX yourself. Look at this TX: https://blockchain.info/tx/828404780e2be4e95ea2d03239193e4b5f17a71998a78d42b4bf4897c4effbe6Not only has it text embedded in the OP_RETURN (id:barbarbarba.usersusersuserstst8) but it also has 0.00092035 BTC sent to 1111111111111111111114oLvT2 (unspendable output). So which one is worse? My service requires CAPTCHA to be solved so that real humans have to do work in order to generate unspendable outputs. However, there are systems out there that generate unspendable outputs automatically and potentially in much greater magnitudes than cryptograffiti. What is more, I am willing to cooperate and help you find a reasonable solution to the problem. I could, for example, require much higher fees for using block chain as data storage and I could send part of the earned profits as donations for the development of bitcoin. So far I haven't earned shit and the bloat generated by my service is nothing in comparison to what satoshidice did. You can verify it yourself by observing the donations I have received: https://blockchain.info/address/1MVpQJA7FtcDrwKC6zATkZvZcxqma4JixSHaving said all that, I hope to no longer receive unjustified acid from people who are desperate because of the unspendable outputs issue. There are bigger fish to fry than me. |
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I think you underestimate it by not including the factor of the unknown in the equation. every repetition of the history will always be somehow unqiue. perhaps "against all odds" type of unique.
So by that definition you must also agree that there is an approximately equal chance that you are wrong and I am correct, due to this "factor of the unknown". well played, sir.  |
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I think you overestimate what would happen if something like the recession of 2008 happened again, ignoring the fact everyone will be skint.  Yeah, inflation gets higher, but the inflation wouldn't be high enough to warrant a ridiculously high increase in the value of BTC. Yeah, there'd still be a nice increase, but don't go over-the-top. I think you underestimate it by not including the factor of the unknown in the equation. every repetition of the history will always be somehow unqiue. perhaps "against all odds" type of unique. |
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Wouldn't be the first time a country went bankrupt. I just don't think that the world would go to war and anarchy over something like this, it just seems so unlikely. There would be a recession, maybe a depression, but the world would recover. Do not be naive and join the bandwagon of crypto-anarchists or anarcho-capitalists.
I'm speaking of something like 2008. The world will recover but it will be a different world. In the meantime it sends bitcoin to the Canis Majoris. |
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No universe has ever survived to not be blown apart by a large mythical alien with 60 heads made of spaghetti.
That claim is equally as true as yours, because there is no way of proving it is true or not true until the universe ends.
you bring analogies to your opponent's claims, falsely thinking that they are true analogies, while they're not. if anything, they could be analogies according to your personal description of the world (which we all know is subjective). we have been collectively wrong so many times before. what gives you the justification to say that this time it is different? that this time there will be no great depression and everything will somehow find a good solution. the feds just keep on the printing presses, quantitative easing, 0% interest rates and we all live happily ever after. you are being naive. |
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That's actually not a bad advice. Student loans are easy to get but if you have already used that straw then perhaps local drug dealers, maffia and loansharks have some quick cash to give you without requiring collateral. |
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Excellent  Even if this doesn't start a massive bubble, which would be cool, I just hope this gets us out of the 2 year down tread and out of the 200-300 cycle. We are almost to 300, it will be exciting to see what happens! When would the psar flip? Forgive my newbness. weekly parabolic SAR is about to flip into raging bull-mode at ~298$. |
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I prefer slow and stable raise after these green visuals. You know last time it raised too high... till it went down so fast.
I prefer exactly the opposite. I hate all those fuckers who didn't buy when BTC was undervalued. Those sheeple who only start to buy in when they read from the newspaper that bitcoin has risen 1000% in a couple of weeks. They deserve to lose their money for their greed and stupidity. They have a gambling problem and they need to be punished. When a bubble bursts it's a perfect punishment for the brainwashed swarm. I laugh at them every time it happens and it's a damn good laugh. |
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300 very soon, it's 294 already new ATH for today
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Currently at $289. What do you guys think? Will we be able to break $300 before the day ends or be back at lower levels? Will it be sustainable this time?
Thoughts are welcome.
292.4$ @ preev for the moment. But i don't think we will see 300$ today but maybe after 36-72 hours. just got to 293$ again which is also today's ATH |
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I don't think that we are on the brink of a world depression, to be fair. People said similar things when Bitcoin shot up to over $1000 per BTC, and that didn't last, did it?
you have swarms of immigrants flooding the EU countries and you are calling everything normal? 0% interest rates have become the norm. still nothing? just because some people got it wrong last year does not invalidate their fears. for such large scale events you must give a much wider acceptable time frame. |
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I sincerely doubt the next bubble will be an order of magnitude higher. I don't think there's enough buying force or even a possibility for enough hype to be created for Bitcoin to reach 10k any time soon. It's just so, so unlikely that I doubt it. Yeah, if we do have a bubble we probably won't crash below $300, but...
buying force? What about the buying force of the whole world? Your error lies in the fact that you assume that the world remains the same. There will be a lot of new buying force as depression kicks into other asset classes. |
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Even if it does, that's not an optimal outcome that I'd like to see. I would much rather see a slow increase to $500 over the next year than a burst straight up to $1000 which will soon collapse back down. What would it collapse back down to? You can't really predict that.
Yes I can, it won't collapse low enough to make you lose money if you buy in right now. the range for the next bubble drama will be in between 1k and 17k. Or to put it another way --- the next order of magnitude. |
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No, not before the end of this day, maybe before the end of this month, although I still wouldn't like to see that. We need to be careful and see whether this price increase is actually sustainable or if it's going to lead to another bubble like when BTC went over $1000.
it's going to lead to another bubble like when BTC went over $1000 |
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I think it's going to happen. We have seen insane gains on Sundays before. Pump-and-dumpers will pump it over 300$ and then it corrects itself.
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Weekly parabolic SAR in full bull mode. Volume has been steadily increasing for weeks now. And it is already higher than during the beginning of the last bubble. This is going to be humongous. 1000$ ATH will be dwarfed like a little bitch.  |
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Fuck off, Hyena. If it was up to you we'd all be DEEP in debt after second mortgaging our homes for $1k bitcorns. Fuckin idiot.
Yeah, and the funny part is that I myself have never ever taken any form of a loan. It's like a principle to me. But if you didn't take that loan to buy 1k$ bitcoins then now you should do it to buy 290$ bitcoins. It's such a win. The bottom is in at 150$. You have so little to lose and so much to win. Don't worry, they will be back as soon as price drops a few bucks to correct, like they always do, just ignore them.
It's funny how you consider both bulls and bears as trolls, can't you just believe when we honestly say that bitcoin has to go >300 very soon ?
I can. I'm the kind of bullish troll who actually believes his own trolling. |
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Has the excess trolling started by fallllllling starting to fade away? Is this an early sign of the next big bubble? When the paid trolls go away the whales are no longer interested in people selling their coins. Now they want us to buy as much as possible so that a new bubble would start. Would it be reasonable to expect paid bull trolls to appear soon?
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If we finish the next week in green on the weekly charts then we haven't been in green for so many weeks in a row since the last bubble.
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