if you watch the biggest wallets, those over 1000 coins, who hold almost 50% of all BTC, you know how many they sold in the move from $500 to $300? guess?

28000 coins out of around 7 million. And I bet when the dust settles they will have even more coins than before this sell off.

so.... who do you think is running around like chicken little panic buying and panic selling? it is not the big boys.

big players are doing hold and / or accumulate, and have been for years now, that made my decision to get back into BTC.

Wait until ETF and halving occur, there will be less and less coins around to pump and dump.

no mtgox crash and burn, and then the 2 to 6 hours wait while you all argue where it opens, all while lord cream puff steals your coins by deciding your terrible fills!

ah the bad old days, such memories.

maybe its time for a some roids for BTC?

basically every single person and their mother must have been waiting for a bottom, and then all decided at the same time that the bottom is in. USD volume today is going to be 10x greater than the normal days I have been seeing in 2015.

amazingly bitcoin cap is tiny compared to gold..... using conservative numbers in favor of bitcoin its still only 1/1000th but might even be smaller in reality.

180 000 tons of gold have been mined, assume close to half is lost or in jewelry never to be sold.

100 000 tons value today is roughly 4 trillion dollars.

bitcoin, assume 15 million coins, with 20% lost (I think its more). 12 million coins market value at $400 is roughly $5 billion.

so pretty much 1/1000th the size of the gold market, which ignores silver and platinum being used as store of values.

Bitcoin Bubble? I think not......

Not just my hunch. Data finally backing it up.
https://www.google.com/trends/explore#q=Bitcoin&date=today%2012-m&cmpt=q&tz=Etc%2FGMT%2B7

So I gave my address to an automated system for a payment coming in 3 weeks

I did not realize there was such a thing as a 24 hr address and I cannot change the pay to address in the automated system

What will happen?

after I sold everything on the way up.....

thought bitcoin would be dead by now, but it isn't. Seems kind of stable again.

coinbase has come a long way, the other exchanges look mostly crap as normal.

electrum with MFA is a very nice addition.

lots of vendors and precious metals dealers now take BTC which is a definite plus.

I still don't see that killer application though.

might be worth buying in, especially with the halving on the horizon.

was trying a new wallet electrum with MFA, changed the bitcoin fee to something tiny, did a test send, and its been stuck now for 12 hours

where exactly did I go wrong if anything knows. should be for 0.01 BTC

hash

b150b83f1698ad8a1db16701aa2ddf771a0f121742642198eafa7a27e3eb0d41

http://www.google.com/trends/explore#q=bitcoin&date=today%2012-m&cmpt=q&tz=

not my imagination

new search lows in last 12 months for bitcoin

not good

now compare it with a successful technology, like uber

http://www.google.com/trends/explore#q=uber&date=today%2012-m&cmpt=q&tz=

maybe if we all ask Karpeles nicely he can integrate them into the other exchanges for us?

bought bitcoin for 35 to 70, sold all on the way up between 380 and 500, was criticized big time on this forum for doing so, but that is what I did.

2nd time, bought bitcoin between 280 and 300, just sold it all again for gold, silver and platinum, for approx 10% to 15% loss.

I am done with bitcoin - done! I will never hold bitcoins again, will only buy them to use immediately to pay for items. OK I lie, I held 2 bitcoins, if bitcoin goes to 10 000, it will make up for the $20 000 loss I just took, and I will exit at breakeven.

On a parting note, here are my gripes with bitcoin

1) by far the biggest gripe I have is that bitcoin is just full of scammers and shitbags. Exchanges stealing money, miners stealing money, hackers stealing money, it never ends. When you are trying to sell the general public on a pretty complicated scary concept, and all they are reading is scam this, thief that, you are done, finished, dead in the water. The PR damage has been done.

2) the winklevoss ETF fund is just too much of a risk for me to try hold bitcoin through. if this thing gets denied, bitcoin will flash crash. That winklevoss ETF is the pie in the sky everyone is hoping for so they can dump their coins onto the general public. If it doesn't get approved, a lot of people will dump anyways. The fact that since mtgox there are just more and more bitcoin scams is not good for the pending ETF approval in my opinion.

3) liquidity is horrible, really horrible. there are 14 million coins, but selling or buying 100 000 at once on any exchange will pretty much blow up that exchange to zero or infinity. 100 000 is not even 1%

4) store of value? what store of value, no one can seriously think people would invest life savings in bitcoin when it moves 10% in a day, OFTEN. this is linked to point 3.

5) technological challenges, such as miners 51%, low transactions per second, infighting among developers / community (the most scary one to me), and many more I do not want to get into.

6) dying into obscurity. The increase in traffic being seen is just people slowly realizing they better cash out is my guess. But I have no heard one person on the street mention bitcoin once in the last 2 months. Plus a good indicator is that during crashes or spikes on BTC-E the message section would be so busy you could not even read the scroll was so fast. Now? its dead. This is the point that really got me to dump, if interest is dying amongst bitcoin traders / holders / enthusiasts, how the hell will the public get excited.

7) I see no bitcoin killer app, there has been enough time for one, and there is not one.

why would someone buy something (legal) with bitcoin instead of a credit card? offers zero benefits, only downside.


I am not saying bitcoin is going to zero, for all I know it goes to $1000 or $10 000 or $1, I have no idea. But I don't feel good about bitcoin anymore.

Worried that bitcoin is dying?

Worried that everyone is dumping coins?

well, the richest 500 bitcoin holders, who have the most to lose, think EXACTLY the opposite of the bitcoin doomsday cult.

continued accumulation, to almost new all time highs now! no dumping, no panic, not even a wait and hold attitude. Only continued accumulation.

if they buying bitcoin, I reckon everyone should also be buying bitcoin.

https://i.imgur.com/wS1yxKS.png

I hold gold, reading a lot about tons of fake gold items showing up (1oz coins and bars)

the fake gold coins pass all the weight and dimension tests, but they are 99% fine gold plated tungsten

seen the "ping" test to spot these - that spots them. But not sure if you can ping a bar? can you?

but also wondering why no one has tried neodymium magnet test to see what happens? what will happen?

here comes the rally

did some rough mining calculations

1) if the bitcoin price drops further from here, basically you are screwed buying mining equipment, you should have just bought BTC when price drops
2) if the price of bitcoin rises, you are screwed, because you should have just bought bitcoin, as rising prices will attract more new miners and difficulty will rise and you wont mine as many BTC as you could have bought.

so?

the only possible mining outcome that makes sense is that bitcoin stays here for a long time , around 300 for 1 year, and difficulty stays at current levels or decreases.

that is the only way you can make money mining?

just a matter of time now, odds are very high. Don't see why any large specs would bother buying until they see what happens at 270.

that 270 doesn't hold and this could get ugly.

I had a 50k buy order in at 270 but now I'm just gonna wait and see what happens there.

http://imgur.com/9MPws7y

will be as follows:

whoever is going to panic sell will do so in the next 24 hrs, so that will be done and over pretty soon.

but the larger problem will be lots of people who have fiat on exchanges but do not want any btc, will withdraw the fiat to their banks, for safety reasons.
So - there will be much less money waiting on the sidelines to buy BTC as it will get moved off the exchanges.

whether or not this will allow BTC price to dip over the next 4 weeks, we shall see.

http://www.vnbitcoin.org/bitcoincalculator.php