It looks to me like this triangle around $2500 (bitstamp) might be going to resolve by the end of the weekend ... it's getting coiled up quite tight now.
Anyone else got lines on charts to confirm this ...?
Yeah, I am also seeing a triangle formation. I am expecting it to break downwards however... Why downwards? We have been in a bull market for months, and each time people thought it couldn't go higher it went higher. Is there some TA behind your reasoning, or just a gut feeling? The setup looked very bullish TA-wise a while ago (around the highs) so I expected a nice leg up, yet we broke down. Like Yefi also noted earlier, it looks like we are losing momentum. If you are at the start of the bull run, I don't have an issue with that. When you are in full bubble mode, losing steam raises serious red flags. I have been wrong before though, lost a big leveraged short position when it went up after going below 1000 on hardforking concerns. |
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It looks to me like this triangle around $2500 (bitstamp) might be going to resolve by the end of the weekend ... it's getting coiled up quite tight now.
Anyone else got lines on charts to confirm this ...?
Yeah, I am also seeing a triangle formation. I am expecting it to break downwards however... |
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Will the network effect of the other fork win out, or is this thread's title more appeasing? Stay Tuned !
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Been a while since you visited these parts. How has the bull run been treating you? |
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to clarify last night's discussion: ... I'm going to call it now, segwit2x will be responsible for activating segwit at last due to overwhelming miner support, BUT great thanks to James Hilliard for introducing them to BIP91 which makes segwit2x compatible with the other segwit activations. Watch this for the very rapid rise in segwit2x support that will happen fast now: https://coin.dance/blocksSegwit may well get a miner activated soft fork before BIP148's UASF which remains in limbo in terms of meaningful support but seems to have had the desired effect of forcing miners' hands in one way or another. What happens after segwit though is a mystery, but there is enough miner hashrate support for 2MB that it might happen too. very lolworthy that Hilliard is 1. a core dev. 2. works for 'bitmainwarranty' (not bitmain but still!) but 3. wrote this bip91 to tie segwit in, to 'both' parties' satisfaction miners' signalling has for the moment no real effect. the date to watch is 16 July. bitmain (viaBTC) may then later hard fork to make this chinacoin, which imnvho may have a little value as an altcoin so, if there's any correlation to price with all this, sideways for ~4 weeks, then more likely than not blast off I am a bit out of the loop, what happens July 16? |
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Bubble has most probably popped. Get ready for a global crypto bear market.
Yeah so BIG bitcoin bubble  It's all about perspective  How up to date is this thing? |
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This looks like it could be the end of the rally to me, tbh.
Yeah, the fact that we didn't break out when the chart looked so bullish is making me think the party could be over as well. |
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BTC breakout biatches  |
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Looking mighty bullish |
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Bro, I've been in BTC longer than that chart... if it was truly parabolic my $50K investment in bitcoin wouldve made me a millionaire, not a lame thousand-air
This is slow steady growth, which I'm not complain about at all, I love it actually. But people are claiming that we are due for a huge crash... I mean what?? We haven't even had much fun yet! At least give me dat parabolic move BEFORE we crash and do a 50% retrace
I've only been into Bitcoin since it had just finally broken out of single digits for good but if you look back to when it was worth less than a penny per coin you'll see that its growth has indeed been and still is parabolic. To really see it, look at the log chart for the last 7 years. Sure, there was that anomaly back in 2014-5 when it dipped below the ascending line. Look at the log chart before or after that anomaly and you'll see they're both rising at a parabolic rate. That'd why I chose a chart starting in summer of 2015. If you'd bought in 2012 or early 2013, your $50k investment would have already made you a multi-millionaire. Parabolic != Exponential |
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30M ask order on okex  |
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I give up.  For what it is worth, I don't think you are NLC at all . |
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My best buddy has been talking to me about investing £5k into some company and expects a return of £45k in 5 years. He's telling me his friend has invested £10k and another a further £5k.
I was talking to him in mid 2013 about bitcoin and he didn't give a shit!! He's now telling me about these massive gains etc from this company and it's forecast to do this and that blah blah.
Now I like to diversify but these gains in % sound great but it's nothing compared to what we have gained in bitcoin. I am also worried he hasn't researched enough in to this company (what ever it may be).
He's so excited but I was trying to get him excited about bitcoin 4 years ago and he didn't care.
He's now preaching about these POTENTIAL future gains his other buddy has been telling him about and he's going to get.
I found it very hard to listen to him.
I wish him luck and I am sure he will profit but why he's so keen on this and shot me down in flames years ago is beyond me.
Maybe I am no salesman
If his main focus is on how much profit this is going give, and how others are investing (and perhaps on how much money they have already made) instead of what added value this company is bringing, that would be a red flag for me. |
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I hope that Segwit+2MB gets enough support to finally end this absurd war. At this time it looks as the only non contentious alternative. I don't like the idea of non unanimous hard forks, nor UASF. Whatever is supported by an almost unanimous majority is ok to me at this time (Well, except BU/EC as I am totally against it).
Seemed like a decent compromise to me. Core programmers snubbing it was disappointing. Agreed, the total lack of ability to make a compromise, even one that doesn't seem to have big drawbacks is disappointing. |
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2 k. One of the best weekends ever  Porsche or ferrari? Strangely enough, as high as bitcoin goes I still look for a reasonable car under $5k that will last a few years with low maintenance. Though I spent more than that in the last week on a vacation. It's funny how decision making with money works sometimes. I also noticed that I am inconsistent: penny-wise and pound-foolish. I try to be as tight fisted as possible on real world things, and throw everything I can at Bitcoin. This cartoon sums it up.  so true! |
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2 k. One of the best weekends ever Porsche or ferrari? Strangely enough, as high as bitcoin goes I still look for a reasonable car under $5k that will last a few years with low maintenance. Though I spent more than that in the last week on a vacation. It's funny how decision making with money works sometimes. I also noticed that I am inconsistent: penny-wise and pound-foolish. |
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Really, increasing the block size seems to have no drawbacks to me.
Then you do not understand anything. Let's start with the crucial one: 1) DoS attack vector due to quadratic validation time O(n^2) at 2 MB. You are able to construct a transaction/block that takes longer than 10 minutes to validate, essentially preventing others from catching-up to you. 2) Increased orphan rates. 3) Increased node centralization/decreased node count. 4) Increased mining centralization (direct effect of the 2 above). 5) Risk of chain-split.
There's probably more, but these are the first ones that come into mind. Just keep the blocksize the same.
Explain. You can scale Bitcoin to a fair extent without modifying the block size. Segwit -> Schnorr + Signature aggregation -> LN/sidechains/TumbleBit/Mimblewimble. Nice summary |
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Lucky idiot is how I imagine the majority of people who have gotten rich off of Bitcoin. Maybe I'm just jealous, but I think there's a bit of truth to it.
What about the people who carefully researched Bitcoin when it was worth pennies or single or double digits of dollars, who saw its potential as a disruptive technology, invested their hard earned money in mining equipment, mined and bought Bitcoin and then steadfastly held on to their coins? Do you think they're "lucky idiots"? I think the lucky ones are those who bought coins because others had already made money on them and then made money despite gambling with them through trading. I think there is a spectrum between people who thought long and hard about every possible angle of bitcoin and those that were convinced by a catchy phrase. The latter could just as easily have fallen for a pennystock pump and dump, the former is a sophisticated and perhaps even visionary investor. I guess most of us are somewhere in between. |
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Very cheap GPU now, time for buy more and stake
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