Bitstamp, 1 day charts, 2013-2014 support line to be tested in approximately four weeks by this current bear trend.



It is believed by many in the community that this will be the final phase of capitulation and usher in the next rally. This is the final warning: if you are still in fiat, it might be a good idea to re-enter the market in May.

Who do you think is the most universally respected musician in the world, living or dead? I like Fallout Boy, but a lot of people tell me that they suck, so I don't think they're a candidate.

Even enormously famous musicians like The Beatles or Elvis have their detractors. Claims that the Beatles are "overrated" or Elvis "stole black people music" etc, etc.

We've had RC planes and helicopters for a long time.. decades I'm sure. But now I keep hearing about "drones". Like, a few years ago, when I heard this word, I envisioned a relatively large, remotely operated plane of some type that the military weaponized and used in the middle east to bomb innocent people (and occasionally terrorists). But now, I see "drones" on TV all the time, and they're smaller, like toys almost. But when they're featured in a story, it's always like, 'drones are the future! And soon Amazon (or whoever) will use them to deliver packages! And police will use them for law enforcement!'

Well, what's so god damned revolutionary about them? I could have taken an RC plane 10 years ago, strapped a small camera to it, and flown it around the city. What am I missing here?

I've been wondering about this for awhile. Bitcoin is often marketed as a project backed by the enthusiasm of its libertarian supporters, but the more I talk to people on the streets and read posts from members of this forum and reddit, I get the impression that many bitcoiners are liberals?

This doesn't really make sense to me, given that liberals tend to prefer larger government and taxation. What is the political breakdown of this forum, and if liberal, can you help me explain why you support bitcoin?

I'm curious to know how accurate my theory on Bitcoin rallies work. For months I have been a frequent visitor to this site, and I hear many stories such as, "I heard about Bitcoin in 2010/2011/2012 but didn't invest! I was so stupid!" etc, etc.

Of course, these people -- for the most part -- have since entered the market. From personal experience, I can say that it took me a couple times to hear about Bitcoin before I invested earlier this year. I have a feeling this is true for many people.

For example, when I speak about Bitcoin with friends or coworkers, most of them have heard about it in the past few months and know what it is, but none are investing. The sentiment seems to be that, 'Bitcoin has gone up in value a ton in the past couple years, but I'm probably too late now to make a profit. Oh well, life goes on.' Did you not feel the same way when you first heard about Bitcoin?

I think we're almost certain to have another rally in the new few months, at which point many of these people will join the bandwagon, pushing the price up by a few thousand dollars. Until then, we will probably remain in the current level of $600-$900.

Many people have only first heard of Bitcoin in the past couple months. For this reason, unless we have some kind of devastating news, I think we will see some serious fireworks next year. Long term (a few years out), I'm still feeling bearish, but 2014 should be a big year for crypto.

• When Chuck Norris wants the value of Bitcoin to rise, he loads BitcoinWisdom in his Internet browser and roundhouse kicks the computer. This is the true cause of "market rallies".
• Fun fact: At the moment that Satoshi first brought the Bitcoin network online, he found that Chuck Norris had already completed mining the first 600 blocks.
• Fiat currencies work on trust. Bitcoin works on fear. Fear of Chuck Norris.

I think we're going to see some wild swings next year for Bitcoin. I would give a good chance of reaching another ATH in Q1 or Q2 of 2014, but what worries me the most (and the reason I'm long term bearish) is the prospect of the US government cracking down. The way I see it, it's just a matter of time before US regulators move in a fashion similar to China and prohibit banks and financial institutions from depositing and withdrawing money to/from Bitcoin exchanges, which will likely drive prices down to the double digits again.

They did it with online poker (citing money laundering concerns) so I really see no reason why they wouldn't do the same with Bitcoin if it continues to grow. And just like with poker, when it happens, it will likely be sudden and take many by surprise. I only wonder if they would make an exceptions for Coinbase, since it's US based.

Will such heavy action happen in 2014? Maybe not, but I do expect 2014 to be the year that world governments begin taking some form of action against the network, so we will likely see some highs and lows the likes of which will genuinely shock many in the community.

[Loose]

I see this error in almost every post on this message board and Reddit. What is the reason? School budget cuts? It's almost as bad as "your" vs "you're", but I gave up on people figuring that one out a long time ago.

Why can't people grasp the difference between the two? The pronunciation and meaning are completely different. For reference:

Loose

not firmly or tightly fixed in place; detached or able to be detached.
"a loose tooth"
synonyms:   not fixed in place, not secure, unsecured, unattached; More
detached, unfastened, untied;
wobbly, unsteady, movable
"a loose floorboard"
antonyms:   secure, tight

Lose

1.
be deprived of or cease to have or retain (something).
"I've lost my appetite"
synonyms:   be deprived of, suffer the loss of; More
no longer have
"he's lost a lot of blood"
antonyms:   keep, regain

Is it just me, or are they changing this shit constantly? When I first looked, it was 1 coin per day instant buy limit for level 1 verification, which is fine with the current prices. Then, it went down to 0.1/day limit, which isn`t so good, and now finally 0.1 BTC/week, which just plain SUCKS.

Are they just doing this to me, or is it across the board? Maybe it`s a high demand issue again?

I`ve heard that if you link a credit card to your account on Coinbase, they`ll allow you to instantly buy 1 BTC per day. What I`m wondering, and what I hope someone can confirm is, if you keep a low balance in your bank account, they would then draw funds from the `backup` credit card, correct? From the customer`s perspective, wouldn`t this be ideal?

What I mean is, most of us with our dirty FIAT credit cards get rewards, such as 1% cash back. If we could `force` coinbase to utilize the credit card, would we not be essentially making exchanges for free (ie. nullifying the 1% coinbase exchange fee)? Anyone try this?

Hi all, I know this has been brought up before, but I couldn`t find any useful threads via search, many were old and probably out of date by now.
I`ve been trying to learn a little about arbitrage over the past couple days and it seems like it could still be profitable, albeit a bit frustrating to try it between BTC-E and MTGox. Any thoughts on these ideas?

1. Wire money from American bank to BTC-E (OKpay non-option now for Americans). Pay 1% fee to BTC-E plus any normal bank fee ($20?).
2. Wait for deposit on BTC-E. Once it arrives, buy bitcoins. (0.2% fee)
3. Immediately send bitcoins to MTGox account. This should take under an hour in most cases... right?
4. Trade for USD on MTGox (0.5% fee?)
5. Withdraw USD to a Japanese bank account (about 200 yen or $2 USD)
6. Wire the USD back to US bank (again, $20 fee) and repeat

It seems like it wouldn`t have value with amounts of $1,000 or less because of the fees and market fluctuations, but a few thousand dollars should generate a reasonable profit on each turnaround, no?

Am I missing anything here? All input appreciated.

According to the latest bitcoin graphs, we're currently on the 5th "impulse" wave of Elliot's theory on crowd sourcing market patterns. I'd say this is a pretty clear cut example of his theory in motion:





As you can see, we will soon be entering the "corrective" phase. It's hard to say how far we'll drop, but I think we could easily dip below $200 again by this weekend. If you're on the fence about investing, I'd recommend you wait it out a few more days to see what happens.



I could be wrong, but predicting group think on a scale like this is reasonably effective.

Just my .0000002 BTC.

Hello All,

I've been trading BTC for some time now but I never keep much at any given time on any of the exchanges... maybe a few hundred bucks here and there. I've heard about "whale" traders, but I wonder how do they keep their assets safe? Are there really people who trade online with tens of thousands (or more?) in their exchange accounts? Seems pretty risky, in the case that one of the sites gets hacked, or the exchange rolls up.

Is there something I'm missing...? Like, does anyone know of a method to trade with assets that are held in a secure, remote wallet? Or is it that 95% of BTC traders are really just messing around, trying to stretch 100 dollars?

Simple question -- If a transaction remains as 0/unconfirmed for long enough in the Bitcoin-QT wallet, will it eventually delete and return the money to my BTC balance?