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741  Economy / Speculation / Re: Another BEARS ONLY discussion. When will bitcoin finally drop and how far? on: January 17, 2014, 02:07:33 AM
Ridicule doesn't open minds, although we are all guilty of it here.  Me included.  That's part of what makes this such an echo chamber, and why we have "bears only" threads.  I agree that some bears are putting themselves in danger, but they just need some guidance.  If you want to help, learn the techniques and show them the flaws in their analysis.

We're all going to have to step it up as our little community grows up if we want to have any hope of keeping this a currency and payment system for the people and not a wall street pump and dump playground.  The barriers to trading are so low we have way too many people who don't know about trading.  When the new trader levels get too high, we pop and then go through the dance of scaring out the majority of them.  We need less trolling and more education.  But that's a lot to ask from humans on the internet.

I agree with you. I would love it if the forum was more sincere and geniune. When I signed up months ago it was a lot more like that. Now its is a lot more about agendas. Like this thread. The OP was not geniune.

I've seen it cycle a few times now.  Like I mentioned, bubbles pull in new users/traders until we saturate.  Then we do the "shake out the newbies" dance, which we are either in the middle or end of.  Sentiment (particularly on the forums) seems to me more like the middle than the end, meaning final capitulation is yet to come.  After capitulation, we will return to sanity/balance for a brief period.  It is always brief because bitcoin is amazing and eventually a new rally will kick off.

However, I haven't sold because I also acknowledge that at some point Bitcoin will outgrow our little echo chamber and at that point sentiment here won't mean much.  Also, I'm fairly content with my BTC holdings since they exceed my student loan debt and are my largest form of investment/savings.
742  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: January 17, 2014, 02:00:40 AM

Open in gimp (http://www.gimp.org), right click image, colors->invert.  Save image.  Thanks.

Thank you, but I can not seem to save the image as anything other than .xcf and I can't seem to make windows accept that as a background, any other options?


File->export or file->Overwrite previous.filename

Gimp supports jpg, PNG, gif, BMP, and about 100 other formats, so you should be able to save it however you'd like.  Also, http://lmgtfy.com/?q=gimp+save+as+png&l=1

The technology and information to empower you is out there if you will only look.
743  Economy / Speculation / Re: Another BEARS ONLY discussion. When will bitcoin finally drop and how far? on: January 17, 2014, 01:45:04 AM
Ridicule doesn't open minds, although we are all guilty of it here.  Me included.  That's part of what makes this such an echo chamber, and why we have "bears only" threads.  I agree that some bears are putting themselves in danger, but they just need some guidance.  If you want to help, learn the techniques and show them the flaws in their analysis.

We're all going to have to step it up as our little community grows up if we want to have any hope of keeping this a currency and payment system for the people and not a wall street pump and dump playground.  The barriers to trading are so low we have way too many people who don't know about trading.  When the new trader levels get too high, we pop and then go through the dance of scaring out the majority of them.  We need less trolling and more education.  But that's a lot to ask from humans on the internet.
744  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: January 17, 2014, 01:40:04 AM
There will be a huge speculative sell soon... holders will sell their coins to buy later when the price drops

You speak with such authority, clearly you have seen the future.  I have sold everything.  Tell me, at what price should I buy?
745  Economy / Speculation / Re: Another BEARS ONLY discussion. When will bitcoin finally drop and how far? on: January 17, 2014, 01:36:06 AM
Every time it seems like it will fall, it doesn't, because someone steps in and places huge buy walls. Manipulation on the exchanges is really obvious.

How is somebody risking their money to support an investment "manipulation"?  Or is it "manipulation" only because it goes against your opinion?

Yeah, you're right, I'm just trying to make it more entertaining by alluding to some kind of market conspiracy. But really, with such low volume and the Jan 31 deadline looming, it doesn't make sense to me why buyers keep jumping in to prop up the price almost immediately every time it dips.

Perhaps their available information, or their interpretation is different than yours.  Most people strive to act rationally most of the time, especially with money.  Follow your curiosity and you might just figure out why they are willing to put so much on the line.
746  Economy / Speculation / Re: Another BEARS ONLY discussion. When will bitcoin finally drop and how far? on: January 17, 2014, 01:33:23 AM
My guesstimate for the drops that will happen during the next days is a bottom of 500$ - 550$ on Gox and about 100$ lower on Bitstamp, where the ask side looks menacing.
But it will rebound, because this upcoming large drop will only end the first 1 / 3 of wave C, and 2 upward sub-sub-waves will follow. As for the end of wave C, it's too early to tell.

You have been saying this for weeks and for weeks you have been wrong?  What were your calls in September?

If it does play out, he's been right to call bull trap for weeks.

Oh, let's see, it took me 3 clicks to find this gem dated Aug. 14 2013:

Quote from: Tzupy
I believe we had capitulation (of the previous bubble period) ending around July 5th.
Capitulation in the current bubble period has yet to come, and then bears will rejoice

Tzupy isn't on trial here.  Even if he was, hewas new then and I have seen his analysis mature a bit.  Anyway, downward movement is possible from this point.  We would like to discuss how far such a move might extend if you don't mind.
747  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: January 17, 2014, 01:30:24 AM
Here is an obscenely bullish desktop wallpaper (for usage as pr0n substitute), concentrating at this multiple times a day for 2 minutes each time will release endorphins and convert every bear into a bull after long enough exposure. I have made it 1024*768 for old laptops, I can make higher resolutions too.  Grin


this is cool, but can you make a negative of that? I prefer a dark background. Thanks.

Open in gimp (http://www.gimp.org), right click image, colors->invert.  Save image.  Thanks.
748  Economy / Speculation / Re: I don't get the price movement (or lack thereof).... on: January 17, 2014, 01:27:19 AM
All this good news recently (Sacramento Kings, ATM's in Toronto, Overstock, Zynga, etc etc), and no upwards price movement. What are the reasons?  No new money coming in?  Equally as powerful bad news, thus neutralizing the good? I just don't understand...before, one piece of news like those above and the price would be sent....for lack of a better word.....to the moon.

Thoughts?

The market wants to work out some bearishness due to price action over the past months.  When sentiment is like this, good news won't do anything but provide support.  Good news only fuels rallies when the bears have had their fill.

Never trade on news without also guaging market sentiment.
749  Economy / Speculation / Re: Another BEARS ONLY discussion. When will bitcoin finally drop and how far? on: January 17, 2014, 01:22:53 AM
My guesstimate for the drops that will happen during the next days is a bottom of 500$ - 550$ on Gox and about 100$ lower on Bitstamp, where the ask side looks menacing.
But it will rebound, because this upcoming large drop will only end the first 1 / 3 of wave C, and 2 upward sub-sub-waves will follow. As for the end of wave C, it's too early to tell.

You have been saying this for weeks and for weeks you have been wrong?  What were your calls in September?

If it does play out, he's been right to call bull trap for weeks.
750  Economy / Speculation / Re: Another BEARS ONLY discussion. When will bitcoin finally drop and how far? on: January 17, 2014, 01:21:04 AM
My guesstimate for the drops that will happen during the next days is a bottom of 500$ - 550$ on Gox and about 100$ lower on Bitstamp, where the ask side looks menacing.
But it will rebound, because this upcoming large drop will only end the first 1 / 3 of wave C, and 2 upward sub-sub-waves will follow. As for the end of wave C, it's too early to tell.

Wave C is indeed the primary bearish case to consider.  I would love to see us make it that low, but if we do go down, I will start buying anything below 650ish.
751  Economy / Speculation / Re: Another BEARS ONLY discussion. When will bitcoin finally drop and how far? on: January 17, 2014, 01:18:57 AM
Every time it seems like it will fall, it doesn't, because someone steps in and places huge buy walls. Manipulation on the exchanges is really obvious.

How is somebody risking their money to support an investment "manipulation"?  Or is it "manipulation" only because it goes against your opinion?
752  Economy / Speculation / Re: Another BEARS ONLY discussion. When will bitcoin finally drop and how far? on: January 17, 2014, 01:17:15 AM
What if I don't know what the fuck will happen, but I am willing to entertain both bearish and bullish analysis?  Am I allowed to participate, or is this only for bears that are on the same caliber as the $10k in a month crowd?

Seriously, you sold everything?  I sure hope you are right.
753  Economy / Economics / Re: Bitcoin in 5 years on: January 16, 2014, 11:14:37 PM
Seems like bitcoin banking is too dependent on Internet connection and electricity.
I hope everything 'll be alright with them in 5 years  Wink

Hey look, it still applies to the alternatives.
754  Bitcoin / Bitcoin Discussion / Re: Name something you've actually BOUGHT with bitcoin on: January 16, 2014, 10:55:23 PM
Food, coffee, tea, clothing, electronics, cables, video games, and mining hardware.  Since the O.co announcement, I have bought: a desk chair, a kitchen aid stand mixer, a breville oven, and a floor cleaning robot.
755  Economy / Speculation / Re: rpietila Wall Observer - the Quality TA Thread ;) on: January 16, 2014, 10:46:45 PM
Hi all, after following the recent spike and subsequent crash of Bitcoin on the news I decided to look into cryptocoins and was brought here. Joined yesterday and am really liking this thread.

I am no trader and cannot provide any technical analysis but IMO, BTC will correct further in the coming months, by how much and when I am clueless. I tend to look at Bitcoin as a digital precious metal. Back in August 2011, gold peaked at $1900 before falling to $1500. At the time, many investors thought that the bottom was reached and that the price would rise above $2000 in a matter of months. Over two years have passed and gold is still in a bear market with prices under $1200 and it will very likely correct further before we see a reverse in the current trend. I personally wouldn't be surprised if BTC goes down to the $500-600 range, possibly even $400 but it may take some time. Just my 2 cents.



The only reason gold has been a bear market the last couple of years is because it has been and still is HEAVILY manipulated to prop up the dollar.

You can not manipulate a market for so long. It is just an excuse for the failed predictions of the goldbugs.

People get uncomfortable with the idea that we are hurtling through space on a tiny rock and we only have the illusion of control.  It is easier to make up stories about how some powerful entity is controlling things than to accept the fact that in the grand scheme of things every single human and every single organization created by said humans, is at the mercy of the universe.
756  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: January 16, 2014, 06:06:10 PM
This flat market is losing me money with my bots left, right and center. They're buying at top and selling at bottom like a boss  Grin

Thank you.  My bots appreciate the extra volatility since they focus on stabilization rather than trend following.
757  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: January 16, 2014, 06:03:13 PM
More chart BS Smiley
This time for the Bulls

Huobi clearly shows a pennant, which suggests  a continuation of the uptrend once complete (in about 3 days)



Not a pennant IMO, based on a few things -- time frame, absence of flag pole, the fact that the first downward wave of the formation broke below previous resistance (i.e. the bottom of the flag pole). The fact that the sharp move that typically precedes a pennant is contained within this formation is another indication that this is a longer term consolidation pattern.

I see a symmetrical triangle, which admittedly is more bullish than the current formations on western exchanges. I would expect a breakout earlier than 3 days based on the wave structure and proximity to the close of the triangle. Much longer and it won't be very reliable. But I don't see a bullish bias at all.

But what what if China has been trolling us all along, only to leave the western traders caught with their shorts on.
758  Economy / Speculation / Re: Vague similarities... on: January 16, 2014, 10:18:39 AM
Overall we look much more bullish this time around.  However, we clearly still have some bearishness to work through somehow.
759  Economy / Speculation / Re: The age of KARHU begins....seek ye refuge in alms to the KARHU! on: January 16, 2014, 09:11:32 AM
We're waiting Karhu.  Are you going to pull the trigger or not?
760  Economy / Speculation / Re: 820 is the new 130 (Stamp) on: January 15, 2014, 09:38:35 PM
I got around 7 grand on my tax refund last year, put it all in BTC. I won't get one this year since I have retired..... at age 29.

Did you retire because of your 7 grand investment in BTC?

Pretty much. I have since gone back to college and plan to start a business after. Something that would earn BTC, so I wont be fully retired for long. But I will never work for anyone besides myself again.


that's what i want, fuck you

Quit day trading then Tongue.

Buy and hold, unless you think you can beat 1000% per year gains.

I've bought and held since Nov 2013.... hasn't done me enough good to retire yet

Have some fucking patience then.  3 months is a very short time frame.
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