My take: I don't buy it, epic bulltrap, next we go down. Maybe missing on a bull run but way too risky.
24h from now: "I still don't buy it, this is temporary, we're gonna go back down to the ATH"  I don't know if 24h from now the downtrend would have already started, but the uptrend would have already stopped for sure. Probably worth backing off the definitive statements in this market. Generally doesn't end well. We are all playing on the same level so at least respect is in order. Both positions seem sound. Thursday / Friday $1500 |
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Anyway, back to Bitcoin; I want all the bears that insisted Bitcoin would never break 1k again to realize that the charts lied. There is no way about that. Charts are a shitty crystal ball and you should always be highly skeptical of them in a commodities or stock market that isn't news driven, but in the Bitcoin world all bets are off.
I think the only way to really obtain better-than-random trading odds is to fit an algorithm to the parabolic rallies/crashes, since they usually have "ringing" behavior afterward that can be profitably traded.
Charts never lie.... Its those that sell on rumor that suffer the consequences in this market.
Unlike traditional a trading platform, this market participants have matured to a point where just about everyone tends to get the news at the same time. NO heads up warning as to what the market will do. "The old Buy on the rumor, sell on the news is a primary cause of technical price developments, and in many instances, the only “technical analysis”" Edit: Lots of fun is expected over the next few days. This is a really naive outlook. Why isn't everyone who can read a chart a billionaire? "I'm not wrong, everyone else is" Reading charts is a part of the equation. Market sentiment, is influenced by news of future adoption and other social/political news affect the perceived valuation of bitcoin day to day. The other is indeed making the right call. |
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Anyway, back to Bitcoin; I want all the bears that insisted Bitcoin would never break 1k again to realize that the charts lied. There is no way about that. Charts are a shitty crystal ball and you should always be highly skeptical of them in a commodities or stock market that isn't news driven, but in the Bitcoin world all bets are off.
I think the only way to really obtain better-than-random trading odds is to fit an algorithm to the parabolic rallies/crashes, since they usually have "ringing" behavior afterward that can be profitably traded.
Charts never lie.... Its those that sell on rumor that suffer the consequences in this market. Unlike traditional a trading platform, this market participants have matured to a point where just about everyone tends to get the news at the same time. NO heads up warning as to what the market will do. "The old Buy on the rumor, sell on the news is a primary cause of technical price developments, and in many instances, the only “technical analysis”" Edit: Lots of fun is expected over the next few days. |
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Is this just old news or something?
It boils down to what is a better investment. Buying and holding btc or buying hardware and mining them... At the present price for hardware it seems that buying btc is the winner for now. Edit: at least from the perspective of maximizing your BTC holdings. So why the affiliate link for mining hardware in your signature? Their are still viable options for hardware purchases. I own a variety of ASIC hardware myself. For those who wish to buy hardware I try to simplify things by giving them a breakdown and potential hardware vs network breakdown from all manufacturers that are shipping or have shipped. https://docs.google.com/spreadsheet/ccc?key=0AmeuPljmUNHCdEpqX2RmMDFwemJyLURVUWFtZ3J3aGc&usp=sharingSome people enjoy the hobby and wish to participate in securing the network and further decentralize the responsibility. Eventually miners will be able to vote with their hardware as to what direction Bitcoin network protocol should follow with respects any hurtles that may present themselves down the road. Third supporting well managed and successful companies will open the door to perhaps revolutionizing hardware development as we know it. Example moving from 100% silicon wafers to silicon/carbon or 90% carbon solutions. |
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We're back up at 900 now!  Ahem... Over $1000. |
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Meanwhile the Swiss are having a vote on treating Bitcoin the same as any other currency within their financial system.
We will see that each government will select what suits its needs and vision best with how to use and treat bitcoin. |
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Is this just old news or something?
It boils down to what is a better investment. Buying and holding btc or buying hardware and mining them... At the present price for hardware it seems that buying btc is the winner for now. Edit: at least from the perspective of maximizing your BTC holdings. |
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glad I don't use Mac products.
actually OSX is f***ing awesome (macbook pro or desktops) It's the apple phones that i hate. There is a measure of truth to that. Phones and Ipods / Ipads are a consumption tool/window utilized to distribute content from Itunes to its customers. Wish they took bitcoin as payment. No worries tho. Bitpay and others will process payments for now and maybe well into the future. |
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People should not be scrutinized for taking positions. What ever you do.... As a speculator anytime you sell no matter the reason history has proven you have lost out.....
They should however be scrutinized for constantly, blatantly (and badly) down ramping in a futile attempt to fix their trading errors. True words. Preventing those who wish to push their mistakes onto others especially newbies and the inexperienced is not welcomed. Can't help them then.... |
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People should not be scrutinized for taking positions. What ever you do.... As a speculator anytime you sell no matter the reason history has proven you have lost out.....
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Am I reading this right? China still under $950? Hmmm.
I don't know. My chart says 973. mine says 975... Weird, I'm seeing $951 now.  |
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Blockchain is still in the app store, and is fully functional for BTC transfers.
And you can use Safari to log onto Coinbase, Bitstamp, or whatever exchange you need. Their mobile sites are quite good. That is indeed the work around that has worked for many IOS users. I do see the benefit of not allowing newbies access to mobile wallets on the phones as there is a risk of not getting the coins "back" if the phone gets stolen. |
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Once bitcoin gains a clear legal status, and the demand for wallet apps grows, I think they will have no choice but to allow wallets anyway
The only way that will happen is when people vote with their "wallet" |
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Only if the last 5 years tells us anything.
+1 |
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