there is no source, just another dead cat bounce like we had before
You better close your shorts and fast, dude. |
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it would be cool if you gave us a clue what we are looking at.
isn't it obvious? to you, i'm sure a lot of poeple know what ABX is, i don't. The share price of a gold mining company. I see that share price is now nearly back to year 2000 levels. Do you think this is near the bottom, or could fall further? |
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What could have caused this spike, a single whale buying?
I honestly think we broke upward because we were scraping the bottom at around $470. The last bottom we were scraping for a while was $420, and that was all the way back in May. So my thinking is the "floor" has rising about $40-50 since then. Don't quote me on it though, as this is just my personal theory. Bitcoin is full of surprises. |
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Chuckee - Registered August 16, 2014, 06:56:52 PM
Its amazing watching the same shit play out every freaking year on this forum. I've seen the same posts by the latest noob troll over and over and over.
Aye... a lot of capital is going into spreading FUD on this forum.  I guess these money would be much better spent on some highly regarded professors bashing bitcoin in financial media, claiming it will go below $10 soon. Oh wait... I know, right? Why do these troll traders/shorts not realize that just by looking at this sub forum's view count, the people that come here and read only constitute barely 0.1% of the overall worldwide bitcoin holders? Possibly even much less. Meaning that, none of their trolling posts will have any significant effect on the majority of bitcoins holders buying & selling decisions. At all. Can't they even do simple math? |
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LOL Here we go again.
A minor price correction up after being artificially low and it's moon time again.
Sometimes bulls can be almost as ridiculous as bears.
Yep. These retards can celebrate insignificant rallies all they want to, but again... wake me up when we get even remotely close to $680 on rising volume. THEN, and only then, will I join in with the rockets/trains/todamoon carp. Which could (looking at it realistically) still be 4-6 months away. |
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Um right, last year the Winklevii invested $12M in beanie babies. Just recently Tim Draper invested $27M in beanie babies. Last year Silicon Valley invested over $100M in beanie baby startups. Millions of $$ in seed funds keep getting poured into new beanie baby exchanges and beanie baby mining operations. To the OP I say:  |
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It's nice to compare Bitcoin to things like smart phones and the internet, but in the case of Bitcoin I just don't see that strong of an incentive to adopt it. Not saying it won't grow, but to compare it to the 100% adoption of things that people love and make their lives better, the incentive just isn't there.
"...I just don't see that strong of an incentive to adopt it. Not saying it won't grow, but to compare it to the 100% adoption of things that people love and make their lives better, the incentive just isn't there... "People were saying the same thing about so called "smartphones" when I was carrying around my Palm Treo in 2001. Most people said that they were only for geeks, and could have cared less about them. Most women then thought smartphones were only for geeks and too big/clunky to be practical. They were a turn off. Which is hilarious today when I see a pretty woman with a 5" smartphone glued to her ear, gabbing away. The whole world now embraces smartphones, the bigger and clunkier the better. Amazing how people's views can do a complete 180 given enough time, eh? |
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That's where you lose me. What makes you think we're in the early adopters phase, and not the on-the-road-to-oblivion phase? And how does the number of CC transactions figure into this? By your reasoning, the Litecoiners are also in the early adopter stage. And the Dodgecoiners. And the [__]coiners. Can you fit s-curves to those, assuming (as you did with Bitcoin), that each one of those is on its way up, and not out? Can you compare the number of Dodgecoin transactions to CC transaction, and guestimate where Dodgecoiners are on their S-curve ascent to world domination? I agree (as I'm sure almost everyone does) that accepting your premise, "Bitcoin will become THE currency of the future," guarantees that BTC price will skyrocket. That's almost begging the question. The problem is with the premise itself. I don't know if Bitcoin is on its way to universal acceptance or to obscurity. If I knew one way or the other, I could hand out trading advice without giggling even a little. In SS's smartphone example above, the iPhone (iOS) was first to take over the largest % of the next-gen smartphone market. Seven years later, it's still with us today. Android was the second next-gen smartphone OS with apps to garner a large market. It's still with us too, and managed to supplant iOS in overall market share. Sure there were other smartphone OS's before these two juggernauts above came along (e.g., Symbian, Palm, Blackberry, etc.) and others still trying to come after (Firefox OS, Windows Phone, FB phone, etc.). But what the iPhone and Android do they do it well enough for the masses, and thus eventually dominated the smartphone market by garnering the largest network effect.So the bottom line is this: 1. Could either iOS or Android be supplanted by something better in the future? Sure, it's completely possible. 2. But would you want to bet against either of them in the first few years of their existence after seeing their explosive growth worldwide? NO. I wouldn't. 3. If BTC and LTC continue to dominate the crypto market for the next several years, will a likely third crypto option come out of nowhere and overtake either of those two in worldwide mindshare and thus marketcap? Not likely. Especially if a dominant portion of the financial world has consolidated on either of them for eCommerce payments transactions. |
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I think there is a good possibility of this by the end of this year (2014).
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It doesn't feel to me that we really have 'blood in the streets' yet. Remember what it was like after the rally to 266 when in early July we were trading in the 60's? I don't think there's anywhere near as much despair here now as their was then....
I remember well. I even panic-sold some coins. I don't feel that panic yet at all, I'm quite calm in fact. So I agree: we're not there yet.On the other hand: I haven't been an observer of markets for long enough to acknowledge as fact the necessity of blood on the streets for a bull market to start up. Where the hell were you guys when Mt Gox imploded, despair hit rock bottom, and the market dive bombed to $389? Not enough blood in the streets for ya? Need two "bottoms" to be satisfied, eh? |
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Funny how there is always a "bitcoin will go to moon when [X] happens". There is a never ending string of these "when X happens, then moon" events, for years and years and years and years. And once the X event does happen, then still no moon. Then on to the next "oh well, X came and went and nothing, but lookout when Y happens!" event supposedly in the future.
Human nature: Never happy with the now, always looking for the "next thing" to be happy.
What if I say that the current price reflects ALL good news events priced in for the next 5 years? Depressing? (not that I believe that, but just for sake of argument)
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Let's make a new rule in this thread. Let's don't cheer and bring out rocket/moon photos ever time the price rises $5-10. Mmmkay?
I bet this rule would be dropped if the price rises to 510$.  I've been nothing but disappointed since April's month long bottom $420 --> $680. Then we stayed in the $600-550 range for months. It's been nothing but down ever since. So wake me up when we hit $680 again. Otherwise I'm completely ignoring rockets/moons until then. |
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Let's make a new rule in this thread. Let's don't cheer and bring out rocket/moon photos ever time the price rises $5-10. Mmmkay?
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Lots of short term resistance in this 2930 area. Looks like we've been trying all night to get past it. Doesn't look like it will budge. Onto 450-460 next, then? What do you guys think? But of course. Just another big dump followed by big walls at 470 and 470 will be the next resistance level. 470 will be very expensive so people are gonna want 420 coins. So the dumpers will take us there and put the resistance at 430. But then we have a problem. Those 420 coins are suddenly very expensive. Why buy at 420 when you can buy at 370. Just a little more dumping will take us there. Aaaah those cheap coins at 370! But wait! Wtf? 370 is expensive as hell considering the resistance suddenly is at 380. Better dump those expensive coins and buy some cheap coins at 340! I can already see all the people cheering here! Coins at 340!! How awesome will that be. Too bad they will be expensive 10 mins later. But i know an easy solution! Just dump the shit out of the market and you can be the happy owner of some 260 coins! That would be a real party right! Better get started. Exactly. Maybe they can even dump it so low to break the previous ATH of $266! That way we could have an unprecedented event in bitcoin's 5-year history, that breaks everyone's complete faith that bitcoin is on an exponential trend rise! That way everyone loses all faith in bitcoin overnight, dumps everything, including Satoshi, and the whale day traders can finally get back to buying and selling $5 bitcoins to each other over and over. Yay! (Problem is that at that point bitcoin becomes feathercoin, no one cares ever again, buyers are gone, and the troll/whale day traders are the ones left holding the bag, haha) |
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Bitcoin's "intrinsic value" is supposed to be its utility as a payment medium. All predictions that the price will eventually rise "to the moon" are based entirely on the assumption that there will be substantial and increasing demand for that use. In particular, its value as an investment depends entirely on that premise.
Wrong (x3). Transaction use accounts for about 1-5% of Bitcoin's value. Most important reason why it has value is that it has value (value storage). This accounts for the rest, 95-99%. Wait, if e-payment use is not what gives value to bitcoin, why is it different from litecoin or any other altcoin? To be a store-of-value, it does not matter whether the coin is accepted by merchants, it matters only (like gold) that it has no inflation and that there is some market somewhere that provides liquid conversion to some currency. Problem is that its vaue (like gold's) will be sustained only by the general consensus that it has value. Such "faith-backed" value could pop at any moment (like gold's). All this time, bitcoiners have been saying that bitcoin will "go to the moon" one day because of its demand as a means of e-payment. Is the discourse changing now? I think it is a bit premature to call bitcoin's failure as an e-payment system, since bitcoin only really came out of complete obscurity just last year. Payment processors like Coinbase and BitPay have barely gotten started signing up merchants, and those they have signed on represent a small fraction of merchants that exist worldwide. In another 5 years if we are still only sitting on 1-5% of bitcoin usage as e-payment, then I'll begin to believe your argument that bitcoin demand as a superior form of e-payment is low or has failed completely. Otherwise Risto is correct, the other major attribute of bitcoin is as a long-term deflationary store of value. So why does your argument suppose an either-or scenario for success ? |
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So let's call out everyone that said they were buying if we dipped to $480. Most of these so called buyers are full of shit, have no money, and couldn't afford to buy a single btc anyway. |
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I don't know about you guys, but they aren't getting my coins for any price except 10X or more than what I paid for them.
Massive walls be damned.
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