But what do the green lines represent? Sorry, I'm a bit clueless at finance.
The Green Lines are representing the Highs and lows of the BTC value. It HAS NOT gone outside of those lines, and the lines remain a shallow angle. Ah, okay. I think I understand. And the jagged orange line? That's the difficulty, which will most likely drop again. (going on 3 in a row) Ah, gotcha. And the lavender one? That is the actual price per BTC at MtGox, not to be confused with the high and low Sorry, I'm confused again: can you explain the orange line? Here, try these:  LoL. Also, fuck Bitcoin, let it die, or help it along. Bitcoin needs to die to give a crypto-currency that isn't designed like total shit to arrive and gain a market. Bitcoin was a great proof-of-concept. It served it's purpose, not let it pass and the next evolution to arrive. It isn't that Bitcoin was designed poorly. The deflation theory was bad, but the other problems, that have to do with mining were unforeseen. Satoshi didn't think that GPU's would end up being used to mine BTC, and that is where these problems are coming from. If Satoshi didn't foresee that GPUs would be used for computing hashes (which is almost as close to their optimal use-case as one can get) even two years ago, then he is definitely the idiot-savant I described. I prefer the con-man argument, but I digress... Two years ago, a top of the line Video Card, wouldn't compare to CPU mining of those days. To think that a video card would be better at mathematical equations than a CPU (designed for computing) would be idiotic. |
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But what do the green lines represent? Sorry, I'm a bit clueless at finance.
The Green Lines are representing the Highs and lows of the BTC value. It HAS NOT gone outside of those lines, and the lines remain a shallow angle. Ah, okay. I think I understand. And the jagged orange line? That's the difficulty, which will most likely drop again. (going on 3 in a row) Ah, gotcha. And the lavender one? That is the actual price per BTC at MtGox, not to be confused with the high and low Sorry, I'm confused again: can you explain the orange line? Here, try these: LoL. Also, fuck Bitcoin, let it die, or help it along. Bitcoin needs to die to give a crypto-currency that isn't designed like total shit to arrive and gain a market. Bitcoin was a great proof-of-concept. It served it's purpose, not let it pass and the next evolution to arrive. It isn't that Bitcoin was designed poorly. The deflation theory was bad, but the other problems, that have to do with mining were unforeseen. Satoshi didn't think that GPU's would end up being used to mine BTC, and that is where these problems are coming from. |
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I like that chart. It shows how the market is going to fluctuate on it's median. Sometimes up, sometimes low, but it shouldn't go anywhere outside of the bar. Prices have stabilized, and have not changed since I wrote this
is this a joke what in gods name makes you believe that 100% arbitrary assertion This actually  But what do the green lines represent? Sorry, I'm a bit clueless at finance. The Green Lines are representing the Highs and lows of the BTC value. It HAS NOT gone outside of those lines, and the lines remain a shallow angle. Ah, okay. I think I understand. And the jagged orange line? That's the difficulty, which will most likely drop again. (going on 3 in a row) Ah, gotcha. And the lavender one? That is the actual price per BTC at MtGox, not to be confused with the high and low Sorry, I'm confused again: can you explain the orange line? Did the best I could explaining, honestly, it's pretty straightforward. |
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what if the price falls below the green line. will you just redraw the bottom green line and say all is well again?
We'll talk about when and if it happens if you are still around you can always necrobump the thread and provide an alternative explanation  I agree, that makes sense. The Green Lines are representing the Highs and lows of the BTC value. It HAS NOT gone outside of those lines, and the lines remain a shallow angle.
Of course it hasn't, because if it did then the green lines wouldn't be where they are now. Even if the price falls to 0.01 all you need to do is add older trades and wait until it recovers to 0.011 to make the trend be up. You clearly aren't looking at the picture. It consistently hits the line and then goes back up. If it dropped to .01 then the graph wouldn't consistently hit the bottom of the trend and come back up, they would just be dips. |
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I like that chart. It shows how the market is going to fluctuate on it's median. Sometimes up, sometimes low, but it shouldn't go anywhere outside of the bar. Prices have stabilized, and have not changed since I wrote this
is this a joke what in gods name makes you believe that 100% arbitrary assertion This actually But what do the green lines represent? Sorry, I'm a bit clueless at finance. The Green Lines are representing the Highs and lows of the BTC value. It HAS NOT gone outside of those lines, and the lines remain a shallow angle. Ah, okay. I think I understand. And the jagged orange line? That's the difficulty, which will most likely drop again. (going on 3 in a row) Ah, gotcha. And the lavender one? That is the actual price per BTC at MtGox, not to be confused with the high and low |
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I like that chart. It shows how the market is going to fluctuate on it's median. Sometimes up, sometimes low, but it shouldn't go anywhere outside of the bar. Prices have stabilized, and have not changed since I wrote this
is this a joke what in gods name makes you believe that 100% arbitrary assertion This actually But what do the green lines represent? Sorry, I'm a bit clueless at finance. The Green Lines are representing the Highs and lows of the BTC value. It HAS NOT gone outside of those lines, and the lines remain a shallow angle. Ah, okay. I think I understand. And the jagged orange line? That's the difficulty, which will most likely drop again. (going on 3 in a row) |
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I like that chart. It shows how the market is going to fluctuate on it's median. Sometimes up, sometimes low, but it shouldn't go anywhere outside of the bar. Prices have stabilized, and have not changed since I wrote this
is this a joke what in gods name makes you believe that 100% arbitrary assertion This actually But what do the green lines represent? Sorry, I'm a bit clueless at finance. The Green Lines are representing the Highs and lows of the BTC value. It HAS NOT gone outside of those lines, and the lines remain a shallow angle. |
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I like that chart. It shows how the market is going to fluctuate on it's median. Sometimes up, sometimes low, but it shouldn't go anywhere outside of the bar. Prices have stabilized, and have not changed since I wrote this
is this a joke what in gods name makes you believe that 100% arbitrary assertion This actually |
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Prices have stabilized, and have not changed since I wrote this
And they are up more. To all the neer-sayers: Bitcoin will not fail.  |
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By dumping into the market, people will buy it, and then spend it on hardware, and then... THAT'S HOW A CURRENCY WORKS.
As for the poof! video, the bitcoins are sitting somewhere, waiting to be bought. That means there is potential money in the system.
 mmmm I smell copypasta. |
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I like that chart. It shows how the market is going to fluctuate on it's median. Sometimes up, sometimes low, but it shouldn't go anywhere outside of the bar. Prices have stabilized, and have not changed since I wrote this
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By dumping into the market, people will buy it, and then spend it on hardware, and then... THAT'S HOW A CURRENCY WORKS.
As for the poof! video, the bitcoins are sitting somewhere, waiting to be bought. That means there is potential money in the system.
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That's fine, if you say that bitcoins are no longer an effective investment. I'll just take all of your coins, so you don't even have to try and liquidate them.
See you're not going to do that, because you are going to wait for coins to go up (even if slightly) before you sell. You have faith in the system.
No he has faith in the not so smart people who think it's going to go back up to 10 or 12 and will buy in, only to be caught holding the bag when it continues its long slow slide into obscurity. Well, so you are saying that the market, while having a strong community can just vanish out of thin air for no reason? We are all still sitting here, and so are the big guys with large fortunes of BTC. How can all of that money just disappear? |
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150SLC? Isn't SLC worthless now?
Well 150 is quite a bit. I'd look into it, but right now I am improving the community's confidence in the BTC markets. |
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That's fine, if you say that bitcoins are no longer an effective investment. I'll just take all of your coins, so you don't even have to try and liquidate them.
See you're not going to do that, because you are going to wait for coins to go up (even if slightly) before you sell. You have faith in the system.
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In investing, you only lose money if you sell low
Last time it did that I held onto them and they never came back up. So I learned to sell early in a freefall and wait to buy later. But I don't think it will go back up from when it hits bottom at $3. You clearly don't remember when bitcoins were worth PENNIES. Also, how do you know it never came back up? That investment could be worth a fortune now, just look at Apple (APPL) as of right before Jobs resigned and compare it to stock prices in the 80's. |
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Only took 8 years for Bush to drain it. Obama is going on 1 full term, shy of a few months, I doubt anyone could fix the problem in 1 term.
Please tell me you don't vote. If you can't even look up what it is you're complaining about you shouldn't open your mouth. The one thing that seems to be getting missed by certain people is that you can't reduce debt by spending more money. During Bush' presidency, the debt went from $5.768 trillion to $10.626 trillion. ($607 billion/ year). During the first 2 1/2 years of Obama, it's gone up to $14.071 trillion ($1.723 trillion per year). I wouldn't be using Bush's debt as a talking point anymore. Congress has been controlled by the left since 2006. Guess who spends the money. Oops. Obama can't fix this because his ideology is getting in the way. Get the government out of the private sector, stop paying people to sit at home and pop out 67 kids, and put time limits on welfare....guess what would happen? Instead, we need a healthcare bill that will further hurt the economy and bring DOWN the standard of care in this country. We fight for the Dream Act to send the children of illegals to college with tax payer money. Amnesty. Great idea there. And don't forget stopping gays from getting married. Holy fuck, that might cause....I'm not even sure what the fear is over this. Why other people are so concerned with the places others are putting their dicks is beyond me. The liberal mindset does not work in reality. While we would all love for everybody to have the exact same amount of everything, everybody to have a home, everybody to drive a Bentley, it can't happen. Guess what sunshine, less than half of the population of the US works for a living. It's simple math that they can't pay for the rest of the country to sit on their asses. How is this so complicated? This isn't a problem with the left or the right, it's all of them. The corruption is running rampant, and you are one of the sheep that keeps feeding the monster. The only way to fix the economy is to get the government out of the way. More regulation and more federal spending will only drive us further in. It doesn't take an economist to see that. Look at the USPS, EPA, Dept. of Education, FEMA, etc for example. Anything the federal government is involved in turns into an over-regulated bureaucratic disaster. You couldn't have said it better. Join us, and together we will rule the galaxy. Well not really, but you should consider yourself Anonymous. |
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Actually BTC prices are going down because of speculation. In investing, you only lose money if you sell low, these people don't understand that and say "OH NO, the price dropped $1, let's make a big deal, plummet prices, and speculate it's because of how bitcoin is deflationary, prone to scam and stuff."
I think everyone should tough it out, so to speak, and buy buy buy.
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All of you have extremely good points. Sure the buyers go unnoticed, but when they buy at 7 and the price drops to 6 where they then sell, they cause just as many problems as the ones that sold at 7. Someone will likely make a huge profit assuming they stay in like us smart people. I will easily admit my choice of buying BTC while the price was falling from 8 to 7 was a tactical mistake.
As the price went lower I bought more, with most being bought at 7.3.
So when a mistake is made I cut my losses allowing for other opportunities to appear instead of waiting
for the price to go up a significant percentage amount so I can get out. Having the money tied up like
that is not advantageous. So I sold everything at an average loss of around .50ish USD per BTC purchased.
Thank goodness for that mini rally we had a bit ago or it would have been worse.
So to say calm down and do not sell? Well shoot.. that does not seem wise from my perspective.
Don't sit on a bad trade. Admit to yourself you made a mistake and move on.
I am not liking what I am seeing right now plus the rumor more stolen coins are getting sold. I thought
we were past that issue. Guess not.
You admitted to making a bad trade. With the time I've spent playing with investments and markets, you need to really watch the numbers. A rumor and a drop of ~1.25 over the course of 36 hours is enough to make you fret? You remind me of the general public listening to the news. It's a load of exaggerated and "grim" news that is really nothing to worry about. As posted by electricmucus, the BTC market is still much better than it was a year ago, or really even 8 months ago. In the time writing this, the price has gone up to 6.60660. |
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I just want you all to know, this "Bitcoin Black Tuesday" thing is nothing to worry about. The more coins you sell, the worse the economy is going to get. Please just calm down and hold your own. It's best for you, and best for the community. In my time typing this, the MT.GOX price has rise .30 USD.
Remember the basic economy fact, supply and demand. By putting up all of your available BTC, you are driving funds up. Look at this as a great time for investment.
Currently the Gox price is 6.57 6.57202 USD, which is higher than it was a year ago. Bitcoin is only a baby, we must feed and nurture it.
You can't forget that the price is only relevant to miners. Investors should look at BTC as any stock/asset investment, meaning low means buy. The lower price of today is only relevant to miner's as it isn't as profitable to mine as it was yesterday, but that doesn't mean that tomorrow the value won't be $50 a coin.
I will update the price as often as possible.
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