 damn watched some tv and still nothing happening... ehr...i mean GOOD, i love it for the sake of stability  good night chartbuddy... |
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some bear couldn't hold it any longer and took a big dump
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BTW.. 320 pages of thread in 20 days?
It's a bubble!
The old one was more than one year old when it crossed 1000 pages...
Amazing!
you forgot this is HARDCORE version. that old stuff was for the wimps  ...aaaand we had quite some bitchfighting going on. |
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What does it say when everyone already thinks that it's going to go up?
sorry to dig out an old post, but this is interesting... People tend to make themselves believe it's going to go "their way" (wishful thinking). So this might mean that many have bought and are now waiting (predicting) and upward move. If many have bought already, not many more can buy, but many can sell.... go figure. Of course, I have yesterday and today sold a little bit, so this post itself might well be wishful thinking  eh..nice remark. perhaps i should stop reading about technical analysis and start with crowd psychology. |
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 I'm following this dudes, I think they know something and I've that bull feeling again Just like the guy who placed a 1.2M USD market buy at $230 on April 10 knew something... I saw that regularity 6 days ago. But then there were 3 steps of dumping on an hourly frequence followed by one massive dump. Damn you bitcoin, i never loose the feeling someones just playing with us!!! have to dig out that tinfoil hat again... |
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Any volunteers? 20kBTC in 5$... won't happen in this market. A retrace to 105 is far more probable... yea perhaps you're right. let's see how they gamble this one out.  |
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wow so i wasn't that badly off buying at 110$ last night.
But i still think we see some massive dumping at 120$ back to around 100 to 110$.
The massive dumps don't work any more -- it's just flushing away cheap coins down the toilet. I think people will wise up. Well, bulls are still crapping their pants - look how nobody moved their bids up after the spike to $115.5 - plenty of bullchickens on the team green. Maybe they've learned not to panic buy and get dumped on later? looks like the herd always needs a big breeding bull clearing some land at front until everybody will follow. Any volunteers? |
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wow so i wasn't that badly off buying at 110$ last night.
But i still think we see some massive dumping at 120$ back to around 100 to 110$.
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Before we get ahead of ourselves, do we need a reminder that google trends is a lagging indicator?  Also: It prevents the US from devaluing the currency Gee, they sure haven't had much of a problem doing that so far... Actually, with the amount of time the presses are on each month, it's a herculean feat of economic wizardry that the amount being printed has not already caused a hyperinflation event. The magic isn't going to last forever. People in mainland China seldom use Google, they use Baidu. There was already a spike in Bitcoin search volume there after that tv documentary. http://index.baidu.com/main/word.php?word=%B1%C8%CC%D8%B1%D2相关趋势 比特币 1周 +63% 1月 +767% 1季度 +3588% translation: Related trend Bitcoin this week +63% month +767% season +3588% daily search volume ~70000 People saying that CCTV show having no impact in China are in denial. interesting stats here. there will be big developments in china in the next months. thanks ronaldlee0917 for that info |
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Does anybody know if the May 5th. value is accurate? It's showing up as 0.
As far as I can tell, the latest one is always 0. Ah okay. That makes sense then. Was wondering why the searches suddenly dropped down to 0 on Google Trends... But on that chart you can pretty clearly see that China didn't have that big of an impact. Otherwise you would see it in the searches I presume? Although I'm not sure wether Google in blocked/censored in China. It is a common mistake to assume Chinese people use Google as the default search engine, it might be true in the rest of the world, but not in China, they have their search engine called Baidu which accounts for over 80% of total search queries in the country. I have said it many times already on this forum, people keep bringing this up. Even when they use Google, they don't put English words inside the query, try 比特币 and see the result. somebody was faster than me. sorry for doublepost |
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 Does anybody know if the May 5th. value is accurate? It's showing up as 0. All of Google's charts show today's incomplete data googlesearch statistics are perhaps representative in western civilsation. But e.g. in china Baidu is the biggest search engine. would be interesting to get some statistics from there. |
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seriously what kind of thread is this?
If you use your brain for some minutes just realize that syria is in a civil war for 2 1/2 years.
Assad loosing more and more control, hisbollah miliz coming from lebanon to help him out (which is why israel is getting involved).
On the other side western governments play hard to get too much involved directly because they don't want to get burned like in iraq or afghanistan
and muslim extremists begin to get more and more influence by supporting local population and freedom fighters.
This country will be destroyed for the next 5-10 years and will perhaps slip into a political system ruled by islamic law like in iran.
Ever thought of iranians buying bitcoins?
On top there is no digital infrastructure comparable to western countries to back up any use of bitcoin right now.
How can you come up with the idea that conflicts like this have any relation to btc whatsoever?
Stick to potential markets like china. BTC can just get roots in countries with a modern infrastructure, tech-savvy population and a wide educated social class with decent wealth to spend.
Syria is far from that in its actual state and in no term comparable to cyprus (where everything was about financial crisis and an extremly blown up banking sector for such a small country)
sometimes i think people can't emphatize what a war actually means for a country.
Syrians are more concerned about having food for the next day and how they can protect their family or flee to another country instead of thinking how to buy bitcoin.
absolutely naive 1st world thought process imo.
edit: only influence i see is perhaps if the conflict backfires over israelian border. Israel is a much more developed country with a big class that could think about bitcoin investments during wartimes
(though i highly doubt this would happen. during wartime goods are much more important than some cryptocurrency which is useless if there's no constant power supply to fuel digital networks).
And there are still many other ways to move money than with bitcoin. And bigshots in countries like syria (with small rich elite classes) probably have already parked their money on bank accounts in some tax havens, and I hope these fuckers stay out of bitcoin because it's exactly these guys who are the problem in the first place.
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At the end of cctv documentary, they mention ONLY IF bitcoin has no other practical usage then it will be as worthless as the tulip.
Whether bitcoin is a Ponzi or not, it depends on the motive for people buying bitcoin, Ponzi: speculators who just want quick profit from bitcoin.
Bitcoin also lack the backing of a strong financial institution to let it go more mainstream.
In short,for price to grow with less bubble, we need to have more merchants to start accepting bitcoin to increase its practical usage.
do you speak mandarin or where did you get translation from that report? Is it mentioned in the report that is has practical usage already? Is the whole feeling of report more positive like mentioned on reddit? sure bitcoin market is too speculative right now but the more money floods in merchants want to absorb value it and will catch up. The advantages of usage of bitcoin will overcome the money investment option over time. |
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I suspect rpietila could be Mads Brügger.
"
Mads Brügger (1972) is a Danish journalist, TV-host, author and filmmaker. He has written several books, worked for magazines and newspapers, produced award winning radio programmes and hosted the critically acclaimed late night TV-programme The 11th hour as well as the daily news/debate programme Deadline. Furthermore, he has created satirical docu-series as Danes for Bush (2004) and the feature-length documentary, The Red Chapel (winner at Nordisk Panorama 2009 & Sundance 2010). Brügger is reknown for his distinctive methods of “performative journalism” as he infiltrates various milieus."
Goat be careful if he wants to film you transfering the BTC's in public.
if there was a btc movie, that would be pretty awesome for btc. Funny coincidence, saw both of his movies (Red Chapel, Ambassador) last month. There is some simliarity to the photo. But I don't know if a movie by Mads Brügge about Bitcoin would be that awesome. In Ambassador he has proven that you can get diplomatic status and smuggle blood diamonds out of an african country if you have enough cash and pretentious appearance. In Red Chapel he pretended to be a communist theater director from denmark and went with two southkoreans (one of them handicapped) to NorthKorea to enact a play. (really interesting insight and social stuy of northkorea) His satirical approach in his documentaries would defintively do more damage to the adaptation of bitcoin. Kinda like artmarket unmasking "exit through the giftshop" mockumentary by london streetartist banksy or performances by the Yes Men. I'm sure it's not that difficult to find a lot of people in bitcoin community to do a satirical mockumentary thinking of some comments on the forum Otherwise Mads Brügge seemed to me to be a higly intelligent person that would get the idea behind bitcoin after doing some research, so perhaps he would show both sides of the coin. But let's see...absolute speculation based on a single photograph. @rpietila: If you are Mads Brügge...call me a fan and I surely would like to have contact because i have many ideas for some sick areas in the world that need such a style of dismantling roleplay-documentaries. |
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The time when a single TV special causes people to freak out was when we were in the lower single digits.
Now that we have seen press coverage on an almost daily basis this is something of a minor curiosity. I agree. After the level of media saturation we've seen, I certainly would not be grasping at one single media event as a game-changer. However, let's not underestimate: -The possibility that many Chinese may now decide to invest a little in bitcoin - and let's not pass it off by assuming that because a handful of wealthy Chinese elite and basement nerds already know about it, potentially thousands of middle-class folk who didn't already know about it couldn't affect the price at all. -The fact that the Chinese middle class may be looking for a new investment - classically, they invest in real estate, but that's not looking like such a sweet deal anymore... mom and dad are discovering that the 18-24 generation doesn't want to buy at the top of a bubble and their retirement isn't as safe as they once thought. The slightly more radical among them may decide to throw one of their 12 ghost city condos into cryptocoins. -Many Chinese people have directly experienced massive inflation -The political implications. CCP doesn't take its state-run TV channel censorship lightly. Is this a jab at the Western PTB? Not as much as bobdude17 thinks, but let's not completely dismiss this possibility. -Saying that governments/banks don't see bitcoin as a threat is pretty silly. Sure, they can pass it off for now since its market cap is 1% of some big company, but it's not hard to see that a P2P cryptocurrency that solves the double-spending problem has some pretty hard-hitting potential. Historically, truly revolutionary technology has always been suppressed in favor of pseudo-revolutionary technology that encourages exponentially rising consumption and therefore money-printing (Tesla?) I think we have some people overestimating the political implications and the potential adoption bump. On the other hand we have people underestimating the political implications and potential adoption bump. Nothing unusual here. Try to temper y'alls reaction yet don't dismiss obvious possibilities. This is an interesting world that we live in. Hey, and stop picking on electricmucus, guys good arguments, only difference i see here is that you're talking about media saturation in western civilsation. I think chinese media coverage is just beginning to catch up and market there has huge potential for cryptocurrency with all the exports, cheap energy and mining hardware directly from the source producers. The sheer amount of population in china freaks me out if a hype is starting there. It's remarkable that china hasn't anounced their own cryptocurrency yet and instead bitcoin gets the possibility to develop without restrictions by the government in the early stages. Last point is perhaps the most important sign of this report on state-controlled tv. |
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$117 with many big buys. its 10AM sunday in hong kong. are we sure this action is from the CCTV news piece?
News will backfire. Btcchina sucks, it's a small exchange for pocket change. Withdraw from there is limited to 10 BTC per day. Chinese can trade BTC now. What's stopping other exchanges from outperforming BTCCHINA? I don't see why limit should stay at 10 BTC with many wealthy Chinese wanting in on the action. It's definitively a good sign for more bitcoin adaptation in china. in connection with cheap energy cost, world's biggest exporter / world's biggest producer of mining hardware and so many potential buyers (the educated social class represents nearly whole population of USA) the market there could grow real big in longterm. Although nobody can predict how the government will react to such developement, the political system in china enables a ban more easily than in western countries. The CCTV report will be used for some marketgambling and typical pumpdump-action in shortterm as usual with any new media coverage or rumor but for the long run this is a very bullish sign imo. |
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quote mt.gox wall observer: $117 with many big buys. its 10AM sunday in hong kong. are we sure this action is from the CCTV news piece?
News will backfire. Btcchina sucks, it's a small exchange for pocket change. Withdraw from there is limited to 10 BTC per day. that's good to know. still tv report is a very bullish sign for development of bitcoin in china |
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Perhaps I'm wrong and just a bit too excited about this CCNTV documentary.
But I can't get the numbers out of my brain:
China means rougly 200 to 350 millions (didn't find exact numbers on the net) of people representing the educated social class (potential buyers would come from this part of society in first place).
Surely other countries were in bitcoin from the beginning and China just got the first big wakeup call concerning media.
E.g. i live in germany and i just stumbled upon some tv reports not longer than 15 min. (widely positive comments as i can think of)
Now if you imagine a state-controlled tv station watched by a wide audience bringing a 30min report showing it in a positive way,
that is a f**ing huge media push.
i don't know if my evaluation is wrong but I just think of bitcoin beginning to spread in a class of chinese society that represents nearly the whole population of USA.
It makes sense in a kind of way for a country being the biggest exporter of goods in the world looking out for new possiblities of financial transactions.
Are there some people from china or with any chinese relation on the forum who can give some feedback and thoughts about this?
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