If it's a bubble, it's less likely to pop this time ... and even if it does, it won't crash as low as last time. In other words, "this time it's different"? Uh oh...  Yeah, been seeing a lot of "new paradigm" talk, although people appear to be conscious not to come right out and say it, literally.  |
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2600 coins to 210... 2600 coins to 185... hmmmm. Here's to hoping someone fills in the bid side on Bitstamp....  |
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and why do consumers put up with it when they systematically leak info (not to mention screw up their data).
What are people gonna do, write their congressman? I'm sure they do. Take to the streets over credit reporting? I don't see it happening. I think people are complacent about it at this point... it's so commonplace whether or not you take the CRAs into consideration. What do their congressmen have to do with anything? You can't blame big government for this one (at least not directly). This is entirely an issue with a private business. If you don't like their practices, do exactly what the free market says you should and discontinue your dealings with them. What? You can't "discontinue your dealings" with credit reporting agencies. You can discontinue your dealings with the companies that deal with the credit reporting agencies. That's not up to you. The file they maintain is based on data submitted from financial institutions, courts, employers. All you can do is ask for them to remove inaccurate information and dispute claims. Your data is theirs and there ain't nothing you can do about it.
Court info is public knowledge, the rest of it is up to you. Good luck going through life with no credit history, and with no dealings with financial institutions. If you ever need to take a loan or want to purchase a home -- good luck. And good luck finding an employer who doesn't report to CRAs. So...I reiterate, it's specifically not up to me. This reminds me of ancaps pushing "right of exit" -- "Well, if you don't like it, move somewhere else!" In real life, things don't work that way. There are a lot of employers that don't report to credit raters. ~.~ Like, a lot.As for financial institutions, its everyone here that is constantly bashing fractional reserve banking, if you don't like it then don't lend to / borrow from them. Employer info is about the only thing on the report that can't hurt you, really. But regardless, when you need employment, you can't really base that decision around whether or not they report to CRAs. I'm saying to do what you're saying puts you at a great disadvantage should you need credit. And it's not as if one can buy a house with bitcoin. Maybe many years from now. It just seems that this mentality isn't very realistic yet. You may as well be suggesting that people go live in the woods because they don't like society. That's all well and good, but it doesn't get us anywhere. |
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Gotta say, Bitstamp's bid side looks pretty worrisome. Is it gonna fill in? Or do we go to 180s on the first dump there?  |
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Not nervous at all. Crash or no crash, I will still have the same number of coins as a month ago. No loss, no gain until I exchange them for fiat money, goods, or services - I am not nervous about numbers on a computer screen.
+1. Everything I have is pure profit. So I don't care really about the current BitCoin price. I'm all profit at this point too. But I most definitely care about the current bitcoin price, because if the trend reverses, I want more coins. |
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Anyone notice the rally stopped in China? I realize it's early for them, but today they barely rose a few bucks.
BTCChina is up 5.5% on the day. Almost 2.5% in the last 2.5 hours. |
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I think the "bubbling" is not neccessarily the amount of price increase but what can be seen in the bid depth and the lack of capitulation moves and tested support levels. It is just nonstop buying (hence 'overbought') and way up in the bollinger band. Just think with a $60 movement, $700M market cap has been added. Has $700M been invested?
This point can't be overstated. I think that we're due for a correction downward, at least to test these new gains. There will be a buy opp in the $130-$150 range. But blink and you'll miss it. Very much agreed. Bid support has remained very shallow behind this rally. I can't imagine we don't test those levels sooner rather than later with such a fast run-up. |
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PSA: A correction now, even a big temporary sell-off, would be totally normal. That's not saying we'll get one, but don't panic if it happens. The "DON'T PANIC" posts during a mini-crash may fall on deaf ears because they look desperate. They aren't; it is a fact that markets don't move in straight lines. Don't be a weak hand. Besides being generally cowardly, it is very expensive to your financial wellbeing. We now return to our regularly scheduled rally less than 20000 btc left on gox... where is that sell of gonna come from... I imagine on exchanges where people are actually interested in obtaining USD. Let price rise enough, those asks will pour in. But who wants Gox bucks? I imagine there is plenty of BTC off the books right now. Wait for it. |
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Well, what do I know? Having said that, I think there is a good chance, > 50% definitely. Though, that could change relatively quickly based on what happens over the next few days.
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Yeah, this is just Gox right? At some point, they will have to be discounted entirely. I think ask sums will skyrocket long before $500, though.
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Old thread, I know... but speaking to that subject, I'd feel really bad advising anyone to buy right now. I'm glad I'm almost 100% in BTC personally, though...
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Wow.... Gox high 222.00.... Bitstamp back over 201. This rally is relentless!  |
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and why do consumers put up with it when they systematically leak info (not to mention screw up their data).
What are people gonna do, write their congressman? I'm sure they do. Take to the streets over credit reporting? I don't see it happening. I think people are complacent about it at this point... it's so commonplace whether or not you take the CRAs into consideration. What do their congressmen have to do with anything? You can't blame big government for this one (at least not directly). This is entirely an issue with a private business. If you don't like their practices, do exactly what the free market says you should and discontinue your dealings with them. What? You can't "discontinue your dealings" with credit reporting agencies. You can discontinue your dealings with the companies that deal with the credit reporting agencies. That's not up to you. The file they maintain is based on data submitted from financial institutions, courts, employers. All you can do is ask for them to remove inaccurate information and dispute claims. Your data is theirs and there ain't nothing you can do about it.
Court info is public knowledge, the rest of it is up to you. Good luck going through life with no credit history, and with no dealings with financial institutions. If you ever need to take a loan or want to purchase a home -- good luck. And good luck finding an employer who doesn't report to CRAs. So...I reiterate, it's specifically not up to me. This reminds me of ancaps pushing "right of exit" -- "Well, if you don't like it, move somewhere else!" In real life, things don't work that way. |
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Im all out well below $200  It is what it is. I hope the ship comes back to dock, but if not, enjoy the trip, I wont be swimming back to it. lol Really?! I could have sworn from reading your posts around here that you were full on bull. Maybe that was a couple weeks ago..... so little sleep these days, it's all a haze. |
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It's just basic reasoning: people who didn't budge during a major crash are prima facie more likely to hold steady than those that freaked out.
If you agree with this, the next step is easy: Those that didn't budge, by hypothesis, are left holding and those that freaked out are left with no or fewer coins (except the good traders, which are a rare species).
Sure, those who held during the first crash are likely to hold in a second. That's not what I'm talking about. That's irrelevant as no coins are changing hands. I'm talking about the buyers that buy up the recovery. The bottom feeders. The "weak hands" are being shaken out -- but are "strong hands" buying up the coins? There just seems to be a circular logic here, where "buying" (period) makes one a "strong hand." |
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Google trends image. What exactly is fueling this rally? This tells me it's old money doing the same all over.  maybe there is a service called "baidu trends"? Zero trade fees in china is fueling this pump/fake-rally. Zero trade fees are what's called "free market." So I have no idea why you think that would distort the market. It's pretty easy to fake volume when there are no financial constraints to doing so. Don't you think? A single whale can repeatedly buy and sell his own coins. (That's not to say the market won't roll over him or that this is what is happening) Sure you can manipulate volume. How will that help in manipulating price? You don't think manipulating volume can affect price action? Re price manipulation, that would depend on how much of the coins/fiat on the exchange is controlled by the whale. Is it impossible that one could drive up the inter-exchange rate this way? Or would he just be run over by arbitrage? I don't really know, I'm just brainstorming... Volume manipulation can only affect price within the spread. I suppose it could indirectly affect price by screwing over other daytrader's indicators, but I don't think they could reliably do so in a way that would actually cause a defined trend in one direction. I figured that large manipulation of volume could skew indicators-- possibly could indicate a lot of buying pressure that is not real. Which in turn, could affect price action. Sort of talking out of my ass here, though. |
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can mt gox do whatever they want with the price of bitcoins since there are no rules or regulations in place.?
For all we know, Gox is allowing bitcoins to be sold that don't even exist. So, anything is possible! |
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The new *group of* holders, yes, as - since the last crash was particularly recent - a particularly large proportion of those holders have shown they are strong hands because they just weathered a crash.
So it is purely anecdotal, then? We don't really know who sold or bought, or when, nor their psychology or targets. Trying to bottom feed doesn't mean you won't dump. |
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What's your question exactly?
Are there any indicators that suggest the weak/hands strong hand theory, or is it just anecdotal? What theory? That when price rebounds following a crash, the new holders are less likely to sell at any given price point. Isn't that the gist of the "strong hands are now holding" statement that is constantly repeated? |
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What's your question exactly?
Are there any indicators that suggest the weak hands/strong hands theory, or is it just anecdotal? Like, something we can observe over time? |
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