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704
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Economy / Speculation / Re: My prediction for the next ~2 weeks
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on: July 03, 2015, 03:47:46 PM
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It could touch $280 in the next two weeks. However, it does not matter for the long term price.
Yeah, because "for the long term price" bitcoin will eventually crash! Bears are becoming rare and desperate in these parts. |
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705
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: July 02, 2015, 10:11:56 PM
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You mean long like a permabull? I never went that long!  Meanwhile I closed all longs and stand on the sideline, observing the development. This retracement could even go a lot a higher, but we’re here on some critical point now, where a reversal is not very improbable. Anyway, even if the retracement goes higher (where the dump3er will jump on again) I’m sure that we’ll see mayor lower lows before a new athTranslation: I have no idea where the price will go but ill give a bearish tilt as i closed my long position. If it goes higher I will get FOMO and chase the price higher. |
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706
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: July 02, 2015, 05:57:31 PM
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Just got my Trezor, its freaking awesome. Way smaller than I expected. I recommend buying from Amazon though as it took my friend nearly 3 weeks to receive his straight from the Trezor site.
I've been thinking about getting one for ages. Think I'm going to bite the bullet & get one in the next week or two. I've done a lot of research/reading about them. I think it's brilliant that the private keys are never exposed to the internet & if you lose or damage your trezor you don't lose your bitcoins as you can recover them with your 12 or 24 word seed/password. Well worth the money imo. Sorry for going off topic guys but has anybody else got one, care to share your experiences? I pre-ordered one when they were first getting started and naturally it took 9 months for me to get it. I've just become set in my ways w/ how I currently hold my stuff so I haven't even taken it out of the package. I'm just saving it as a novelty at this point. My mycelium USB dongle is a novelty, too. Never trusted it to create my cold storage addresses. Still cool though. I would buy a trezor if they released the metal version again. |
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707
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: July 02, 2015, 02:45:35 PM
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I'm kinda mystified about how an exchange works.
Am I always buy/selling to a peer?
Or does the exchange sell and buy directly to users also?
Does an exchange adjust its prices in consensus with other exchanges?
Or is it all independent marketing?
An exchange is simply an orderbook consisting of bids (buys) and asks (sells). Where a bid and ask coincide is the exchange price. |
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708
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Economy / Speculation / Re: Correction over.
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on: July 02, 2015, 02:15:54 PM
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<snip>
You have become a parody of what you are trying to be. Selling your coins at 10$ is amusing to the regulars on here because you are such an obvious doom mongering troll. You don't have to take my word for it, just look at the chart.. A month ago the price was 219. The price is now 253. Run for your lives! |
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709
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Economy / Speculation / Re: Correction over.
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on: July 02, 2015, 01:58:51 PM
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<snip>
You have become a parody of what you are trying to be. Selling your coins at 10$ is amusing to the regulars on here because you are such an obvious doom mongering troll. |
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714
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: July 02, 2015, 12:06:06 PM
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Seems the first attack on the 265-70 resistance failed. But the price is holding pretty good so far. Let's see if 250 can be held, then the prospects for July are great ... Nevertheless, I voted for a July top of less than 300. I think it will reach again the levels of about 270, and maybe a little higher, but not much more. Black swan events not taken into account  The Mt Gox court case will conclude sometime and either the Bitcoins get returned or the court orders them to be sold so cash can be returned instead. I doubt it will be over by the end of July but if the court orders a crazy dump it will crash the price. I think they have some rule in Japan that you have to sell an asset and return cash. You think a court is going to order the coins to be sold on some sketchy exchange? An auction seems more likely. I don't know what the court will decide. All I know is according to this site Japanese law has always forced bankruptcy settlements to be paid in cash. However, there is a rule that if a committee of the majority of creditors is recognized by the court it might be able to demand payment in Bitcoins, but it would be the first time its ever happened. https://www.cryptocoinsnews.com/mt-gox-creditors-demand-payment-bitcoins/In Japan, all settlements in bankruptcy proceedings have always been in cash and any settlement approved for payment in a cryptocurrency would be a first, a landmark........
Daniel Kelman, a US Layer, resident in Taiwan, today informed the notified trustee to the Mt Gox bankruptcy, Nobuaki Kobayashi, of his intention to form a 'rebel group' of creditors seeking to receive their payments in the form of bitcoins.....
McLannahan explains that under Japanese law, a committee representing more than half of creditors has the power to “participate” in proceedings, so long as it satisfies certain conditions and is recognized by the court as representing the interests of creditors as a whole. The context of the original post I addressed was about black swan events. The Japanese court ordering the Bitcoins to be sold on exchanges could be considered a black swan event. It would be unexpected, but not impossible. Not impossible, just an extremely unlikely, very low probability event. Tarmi and the bears here might actually get their 2.5 year 'double digit' itch scratched in such a scenario. It is far more likely that bitcoin instead does what it has done in the past and bubbles upwards eventually IMO. Betting on doomer outcomes isn't a great strategy  |
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715
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Economy / Speculation / Re: My prediction for the next ~2 weeks
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on: July 02, 2015, 11:41:35 AM
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I would comment on the chart and predictions but mods are just going to remove my comments again.
Very open and balanced dscussion we can have here when critics get silenced.
Feel free to post in a fiat currency forum! |
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716
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: July 02, 2015, 10:18:42 AM
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I saw predictions of crashing back to the 220's yesterday  . Looks like we're holding the 250's pretty strongly. I have no idea what the price is going to do in the short to medium term. If I had to try & predict something I'd say we could enter another period of sideways, maybe ranging between 240-270 for a few months now. Stability is good, I'll accept that to be honest, then we can start the next surge upwards. Hopefully breach 300 by the end of summer which will set us up nicely with a number of positive price changing possibilities in 2016. Just keep accumulating LFC. |
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718
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: July 02, 2015, 09:39:20 AM
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Seems the first attack on the 265-70 resistance failed. But the price is holding pretty good so far. Let's see if 250 can be held, then the prospects for July are great ... Nevertheless, I voted for a July top of less than 300. I think it will reach again the levels of about 270, and maybe a little higher, but not much more. Black swan events not taken into account The Mt Gox court case will conclude sometime and either the Bitcoins get returned or the court orders them to be sold so cash can be returned instead. I doubt it will be over by the end of July but if the court orders a crazy dump it will crash the price. I think they have some rule in Japan that you have to sell an asset and return cash. One of only a few decent attempts at FUD there are left to seriously dent the price now the downtrend line has been breached. You better shout louder :p |
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