I don't think bears are overestimating the lack of fresh fiat going to the markets. There has been no indication of any.
I don't think bears are overestimating the impact of the Chinese regulations or the long term problems with the exchanges not being honest about what is really going on.
If anything, the bears could be wrong about how stubborn bitcoin owners are about holding onto their coins - both those who buy on exchanges and those who mine.
Although, eventually, miners credit card bills are going to come due.
But the lack of selling and the lack of new coins to exchanges seems ridiculously high at the moment.
Its as if nothing can bring real despair to this market. It constantly high on hopium.
I think we literally might flatline for months. Which is a the worst possible scenario for someone like me.
I'm afraid you might be right, as soon as we started to drop from the 800 range, I thought this might be like 2012, just a long drawn-out nothing. .. until eventually.. .. ..something! |
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love, how china don't give a shit
I would love to see china go straight up right now, just a wonderful "wtf?" type moment. |
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market kinda over reacting....
yeah, everywhere except here, still 485 on virtex |
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Will we witness the beginning of the end tonight?
Chinese have to eject somehow. Who makes the first move:)
was that it? first move to bitstamp?? |
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next time it dips i'm buying more.
nice adam! did you catch any of that 450 on virtex yesterday? I had a little chunk waiting there, with many more down below. When I got the email from the first nibble, I was all like sitting back and waiting for the rest of my orders to be filled... ... I'm still waiting... too greedy? maybe, but I am tired of chasing the price. From now on, I will let the price come to me. I had bought a few at 470 the other week, when i saw 450 I decided it was better to wait for lower lows. anything below 500 CAD I consider a pretty good price, my buy orders become increasingly dense in the 450-400 zone. I have some hail-mary's out there in the sub-400's but I don't really expect those to be filled. |
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next time it dips i'm buying more.
nice adam! did you catch any of that 450 on virtex yesterday? I had a little chunk waiting there, with many more down below. When I got the email from the first nibble, I was all like sitting back and waiting for the rest of my orders to be filled... ... I'm still waiting... too greedy? maybe, but I am tired of chasing the price. From now on, I will let the price come to me. |
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"fee fraud"... big words, huh? Fact is, I knew about it, but it doesn't affect me more than for just a few cents (despite large volume), because I don't trade with bots or by splitting up a large trade into many small ones. I can see how it would affect two types of traders: those that use bots to make many very small trades, and the example from the thread, of putting up a large order, and then having someone else "nibble" at it, thus driving up the relative fees. Not ideal, but I have to ask: how do you prefer it to work otherwise? Rounding to a full cent seems reasonable, so the only solution I can see it calculating the x% fee they advertise over some time span's volume, as opposed to the volume of each (tiny) trade, which is then rounded up to a cent. I can see how Bitstamp would consider that an unnecessary effort to save some traders a few cent. In either case, and in the spirit of choosing your words super carefully in here (remember kids, there are Bitcoin /fanatics/ in here, not /cultists/), the term "fraud" is entirely misplaced. emphasis mine. This is a dirty, underhanded way of calculating fees. the fees that market maker is charged should not be determined by the market takers. How would I prefer it to work? Just look at CaVirtex as an example. when you place the order, you pay a fee. both the fee and the order are placed in escrow until the order is filled. if you cancel your order, both the amount of the order plus the fee are refunded to your account. - simple system, easy accounting. Hopefully this is just a bad implementation of their processes, but it is a very shady set-up regardless of how it came about. |
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still waiting for this "big drop" that everyones predicting wishing for
Yup, any minute now, right guys?  is it time yet?  |
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still waiting for this "big drop" that everyones predicting wishing for
Yup, any minute now, right guys? I love that picture! The bulls are waiting for it to go up, bears are waiting for it to go down. The cat is just waiting for something to move so it can pounce. |
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So now it's "degrading" to use the word cultist for, well, cult like behavior? I don't think so. As for the numbers, I don't have hard data, and I cannot have data because what I would call "cultish" is hardly a set-in-stone definition, but to give a few examples:
Fanaticism != Cultism just as bitcoin is both a currency and a commodity, both a payment platform and a binding record of account, bitcoin proponents are both fanatics and cultists, both bitcoin nutters as well as bitcoin savants. |
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Jay, my friend, you have an incredible knack for using a lot of words to say nothing.
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Oh, that's interesting. Rather than rushing ahead of ourselves, we need to let the capabilities mature before pressing the message out. Then we shouldn't be watching the exchange rate minute-by-minute. That's different than I was thinking. Thank you. Hmm, what is our message until then? When will we know it is time to unveil Bitcoin again for the masses? Or are the capabilities going to come along one at a time in an uncoordinated fashion?
I'm in agreement with both jmw74 and pinky on this point. I now cringe when I hear people promoting bitcoin, and when asked myself, all I talk about is the blockchain and how a decentralized ledger can allow for distributed, open accounting and honesty when it comes to financial transactions. (I definitely don't talk about price, payments, vendors, or any of that stuff anymore) I had heard previously about the adoption "gap" or "chasm" and I didn't understand or believe it, (most likely because this is the first time I have actually been an "early adopter" instead of waiting for the infrastructure to catch up to the technology.) I think this paragraph explained it well: Moore's technology adoption lifecycle graph [13] describes how technology enthusiasts and visionaries are the first to embrace a new technology, followed by a frustrating period of time before the pragmatists (early majority) start to utilise the technology, followed by conservatives (late majority) and finally sceptics (laggards). source: http://www.ariadne.ac.uk/issue65/wolski-richardsonIt certainly feels like we are in the middle of the chasm right now, and it is just a matter of time before all the moving parts come together to make bitcoin palatable to the masses... Of course, if we were to fail to cross the chasm and never gain mass adoption, there is a chance that the whole experiment could fail. I think, however, that the ongoing failure of the current system will make the advantages of bitcoin obvious to everyone and the chance of a complete failure becomes decreasingly likely. |
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I told you few days ago, that bitstamp is going to be closed due to some illegal activities. That wasnt just a rumor;)
Please, enlighten us. as far as my sources teold me. Bitstamp is involved is some illegal activity, presumably some paedophile groups use bitstamp to exchange money. That is why bitstamp is going to be closed for investigation etc next week or so. obvious fud is obvious. yup, and it doesn't even matter that it's false. they will use this kind of stuff to put up a scare shield and use fear to try to implement regulation of bitcoin. bumpy roads ahead |
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that s what a trendline is, just a point of view, if you could draw all of them on a chart well they would all look good, because people are following them, it s like driving on roads and following signs. everyone agrees they are good to follow so everyone gets where they want.
well said, mighty jol I'd like to add: it's like the apparent hard bottom at 400. it's just an arbitrary number, but there appears to be a large amount of support at that level. Does support show up at that level organically? possibly, for the first time. the second, third, forth times... likely are bolstered by people that like to read lines. when the lines are false (probably a 50% occurrence) or even when they're true, they will be broken. the great benefit that they can provide is that they might leak a sneak preview into what might happen when the trendline is broken. the lines cannot predict the price, they can only help you to predict the price. |
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Never understood this lines but I drawed one from the sight of an optimist   this is actually exactly what I was talking about. that line shows the absolute bottom for price, during the depicted time-frame. if this line is broken, then the story changes. |
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 Either that or we have already broken out to the upside. Just need volume for confirmation. or it proves, that these line mean nothing. sometimes it is true that the lines indeed mean nothing. other times, if skillfully drawn, they can provide insight and guidance. ignore the patterns at your own peril. *edit* I do not mean to say that the above lines were drawn skillfully. I actually prefer my lines that I drew a few days ago, completely unskillfully.  my point is, that lines do exist, and until they are broken they tell a certain story. once they are broken they might tell a different tale, but one which is also worth listening to. |
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who is the other guy that picked "relief"?
:edit: I almost refused to take part because "serenity" was not available, but I just took the next closest answer.
I picked "thrill" at random, because there was no "impatience". Hi Prof! impatience would have been an interesting option. personally I have been starting to think that we are still very far away (like 2 years - that's earth years, not bitcoin years which means 2 months) from seeing any kind of "mass-adoption" as such, I think that many people with a voice in the public bitcoin space should just cool it down a bit. I think that people should concentrate less on how to attract the masses and more about how to handle the masses when the flood gates open. I think people are a little caught up in what is possible and perhaps ignoring what is practical.the practical side of bitcoin is in need of much work, I'm afraid. |
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I actually like the poll going on right now...some of the terms are so fitting for the differences in attitudes rolling through this forum on a daily basis
I like the poll too! who is the other guy that picked "relief"? :edit: I almost refused to take part because "serenity" was not available, but I just took the next closest answer. |
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the key is when both (patience and attitude) are in harmony. |
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Ohh, LOL, now I got it! At 33th minute of http://www.youtube.com/watch?v=4pBd-OD9Rns he did some strange eye movements and said they launched MaidSafe, a P2P dropbox. "Interesting" name for the project I must admit but I can already see terabytes of child porn on HDDs of everyone stupid enough to be involved in that shit and then a massive FBI raid that will result in not just child porn confiscated but a ton of bitcoins and possibly other cryptocoins. Avoid MaidSafe! Thanks for the link! the first 30 minutes of that vid are worth watching if you haven't already. the rest is... well, I would skip all the parts where charlie speaks... but definitely check out right around 49:30 (he's going on about remittances and then he looks straight at the camera, the camera switches views, and then he flashes a triple six handsign. I'm not even kidding) you just can't make this shit up. |
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