Am I missing something? PayPal/eBay is only involving BitPay for select digital content, and it's been known for days if not weeks now. Doesn't add up, but what does anymore. Expect a slow slide to sub $400 again by the time they've blown their load, whoever the whale is.
Agreed. The whale(s) may have prompted it, but this simply looks like a mega short squeeze. Nothing more. Not real public panic buying like the last bubble, at least not yet. Of course if it keeps going, I'm not going to complain. If we ever get back to $680, it'll start to get interesting to me again. Until then /nap |
|
|
|
How much further up until the shorts are squeeeeeezed ?
is that a serious question ?  Right now, as we speak |
|
|
|
this is bullish short term but so bearish mid term, but again bullish long term... What?? 600$ in few hours!  THERE IS 11 000 SHORTS ON FINEX!! Yeah, but all you traders will just sell at the top of this little spike. Then it'll be the slow downward grind again.  I wanna see some REAL VOLUME DAMMIT!!!  |
|
|
|
Haha, I was thinking the exact same thing. This is terrible!  |
|
|
|
I dont hope they are right when they say:
* We’re going to stick our neck out at this stage and call this the end of Bitcoin.
The reason being, the positive-feedback loop forces which drove Bitcoin to $1124.76
have now become the same very same which will drive it down to the bottom. *
Not sure what they consider Bitcoin V.2.0, but i guess it includes blockchain in some way. Perhaps Bitcoin as it is is not the "next big thing" but jus a catalyst for things to come. No one knows.
I know Im still a strong believer in Bitcoin and its technology. And hopefully this is the bottom and prices stop decline.
I don't know if they are either, but the fact that the FT of all people is saying that strikes me as a good sign that it's not going to happen Still there is always first time for the mainstream media to get it right. Another contrarian indicator is that I am seriously considering swapping a few more quid for some magic electric beans! You also gotta remember, these were the same people touting MaxCoin as the "next big thing". |
|
|
|
|
Although the current market still looks a little bearish, I will say this:
You can't put much stock in a poorly written article written by a misinformed author on an obscure website (that hardly anyone reads) that sits behind a paywall.
|
|
|
|
Yes! Once the market is completely dead, everyone sold and i'm filled up with cheap coins (nom nom nom ) we will go up again to the mooooon! It's that simple Hey Shroomie, maybe if you and I are the only bagholders of thousands of $10 coins, we can just sell them back and forth to each other (for a small markup of course)! We can set up our own private exchange. Wouldn't that be great?? |
|
|
|
|
The price always seems to fall right after I buy some. So let me know when you guys want a dip, and I'll make it happen for you.
|
|
|
|
Anyway, I believe in LTC. I have thousands of LTC. Worst thing that could happen is that I lose all my money; life will continue.
Best thing that could happen is LTC skyrockets like never before; my life improves.
So... what could really go wrong? Nothing.
I'm with ya on this. This thread is the most contrarian indicator of all time. It happened before with LTC, and it will happen again. When it does I'm going to laugh my ass off at all of these bears, as LTC will easily hit $120-150 on the next major rally, maybe higher. Their jaws will absolutely hit the floor on how high it will go. Feel free to quote me for future reference. |
|
|
|
Can somebody quote me on calling the bottom?
I would like to say "told you" in the future.
Today I had a new insight which confirms my previous prediction about the next bubble start (which you can read at the left)
Do tell? |
|
|
|
 ...and still not believing you. |
|
|
|
my landlord is a multi-millionaire. i got her and her sons convinced to invest in btc last may/june. first thing that happened was we were 50% down ( i invested at the same days ) when october came and price went 10% above the price we went in, they wanted to sell. they wanted to sell almost every day through november and i strongly advised them every time to hold.
when their investment had 10-folded they sold. I didn't. they don't care about bitcoin as a technology. it was just a funny investment. I may be too much in love with bitcoin to ever sell, but next run up, i try to perform a little bit better.
There is another friend in the millionaire category that i got interested in. he invested in october/november, average about $ 250, never sold and heute is actually interested in the tech, but even services like bitstamp he cannot comprehend, it is all way too complicated for him.
Your observation brings up another interesting thought. What if most millionaires and billionaires don't really care about bitcoin any more than a relative short term investment? Meaning, they'll probably give it one try, hold for 12 months, wait for the leg-up multiplier, and sell at the top? Then take the returns and invest them elsewhere while the bitcoin market is in a long downturn? And what if they don't come back to bitcoin after that one experience? What if the only true long-term 'holders' are the common people, who never see the same types of overall yearly returns as millionaires/billionaires, because they have all their capital 'tied up' in bitcoin for far too long? |
|
|
|
One should consider the invisible fiat not on the orderbooks, the USD in transit from banks to exchanges. The whales/penguins and fish who sold and waiting to buy back once the technicals align..What happens if Tim Draper's pal decide to put in $10m ?
So now we're banking on supposed invisible/non-existent support money, and what ifs about who is going to invest in the near future? Really? How about we look objectively at what's happened in the market over the last 10 months instead? How about we consider the mood of everyone that has tried to get involved in bitcoin since Jan 1st, and what they might have told their friends and family about their experience so far? It has nothing to do with the newly mined coins. Really annoying hearing people spout that nonsense.
Like, totally! I mean, how on earth could an increase of the monetary base by about 14% this year lead to a lower evaluation per unit if insufficient speculative or usage-driven capital enters the market to counter that inflation. What a preposterous throught. Stop wasting your time trying to think objectively and rationally, Oda. This sub forum doesn't have the ability or even common sense to debate with you. The other thing I keep hearing is that "Bitcoin daily transactions are actually on the rise!" I guess no one would consider the fact that this is the acceleration of selling transactions as opposed to buy and hold? |
|
|
|
|
Wanderfromthenorth, I'm afraid that if you are looking for some objective discussion on this topic, you're going to be very frustrated trying to find it here.
I know that as a long term bull, I have been.
The perma-bulls just want to keep shouting "Relax, everything is fine, buy buy buy! You really don't get what's going on!" in a very callous, condescending manner. Without any discussion or evidence backing up their reasoning at all. Or they continue to shout "Bitcoin is still up 400% from last year!"
Reason: They just don't fkn know what the market is doing right now, and apparently don't care because supposed 'cheap coins'. But cheap is completely relative month to month. Never mind the fact that there doesn't appear to be much real support at this level, and previous support from May @ $420 has been broken. And nobody that bought since Jan 1st. really cares what the price was last year, at all.
The bear-trolls, well, they're just as useless. The above post is a clear example.
Reason: Because the trolling has gotten so bad here with throwaway accounts that it's virtually impossible to separate the true trolls from the objective bears. And some of the object bears that I might have listened to in the past have completely disappeared from this forum of late.
So what are we left with? Yourself. Just listen to your own intuition, buy if you think we're close to the bottom, or hold off if you think we're going much lower.
3 months ago I would have concluded that where we are currently is the bottom. But now I just don't know anymore, and the whale traders seem to absolutely not give a shit. They will dump this market into the ground if it suits them. I'm just hoping they will eventually stop when they've had enough and can't find any more real buyers.
|
|
|
|
Of course miners selling coins affects the price. If there's insufficient demand to absorb the new coin supply, then the price will fall until demand picks up. This is bitcoin's distribution system doing what it's designed to do: distribute coins to those who value them.
Bitcoin is a strategizing women that will use your lust to accomplish her goals. It's your desire for wealth that precipitates the boom, and it's your hope and envy that fuels the accompanying media frenzy, propelling us another rung up the market-cap ladder. And she knows this. She also knows that in your despair you will sell your coins to those she hasn't dated yet, as though you're burning love notes from a women who broke your heart.
She has nobler goals than to enrich you. Although some of you will score and some of you will strike out, to her you were all only useful tools. We're building a new decentralized economy that, if successful, will reshape the world in unfathomable ways. She's the foundation of this new economy--sound money where each coin was forged by the greatest physical efforts of man to strangely produce a purely-digital asset…a digital asset that can be transferred in less than a second across the world without the permission of an authority or the assistance of a third party. She is an evolution in money.
Indeed the price must grow for the experiment to succeed, but it's more important that the price be the right price to best distribute coins to those who want them. The issuance of new coins is what keeps downwards-pressure on the price, testing the faith of hodlers: "why are your coins so special if miners are finding new coins everyday?" It prevents the price from deviating too far from true demand, as ruthless miners will put to rest the ambitions of lustful. This is necessary. We're all just playing out our roles.
How will it end? I don't know. Tales of great ambition are fraught with great tragedy. Only time will tell if she'll seduce her way to the very top.
+1. Haha, I really love this post Peter. |
|
|
|
Has the market gotten so bad the people are seriously cheering a move from $399 to $401 now? Right now anything above $400 is just as fake as $399.99.
Wake me up when we are back at $680 $510, then I'll believe some Average Joe's are actually buying again.
if you didn't like the recent action, and find it encouraging for bulls anyway, you don't understand what you're watching. There's nothing in this current market that is encouraging for bulls, not that I can see. If we had a sharp bounce like we did back in May, that would be another story. So what am I missing here? Or are you just talking smack? With comments like these you're starting to sound like another "Teflon Man", Adam. |
|
|
|
|
Has the market gotten so bad the people are seriously cheering a move from $399 to $401 now? Right now anything above $400 is just as fake as $399.99.
Wake me up when we are back at $680 $510, then I'll believe some Average Joe's are actually buying again.
|
|
|
|
|
Show Posts
