Well, who bought to play this bounce?
Bought myself a little at 53€ to follow the old lucif, placed an ask at 65€ to close that position ASAP but it wasn't filled, for now I lowered it at 62€ish because this suckers rally don't give me any confidence at all.
I was fighting with myself to buy at the bottom of that red candle two days ago but I couldn't do it. I would have put a sell order in at 10 above it and it probably would have gotten filled. I called 3 of the bounces on the way down as well and also didn't play any of them. Think I should start playing with 20% of my fiat... Oh well, at least I'm happy I got out at 107 ish. BTW - a little sell off just happened, nice timing... |
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M-Pesa seems more like a rivaling currency than anything else. It already has millions of transactions daily and growing fast, bitcoin is becoming a gamblers paradise. http://en.wikipedia.org/wiki/M-Pesa. i wonder how high the fees are? Users are charged a small fee for sending and withdrawing money using the service.
The most recent thing I heard though is the government is going to levy a new tax on it or something like that. |
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As I said above, this is HUGE news, but just not yet. If they start using BTC there the floodgates could open up. What is your update on our price? Think we break through 80, 85?... |
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Tell that to people who's currency is more volatile than BTC. As well as more manipulated. See Argentina. Many of us feel BTC will first see adoption outside America, waaaay outside.
The volatility of BTC is in large part a function of the instability of the current economic system in shambles all over the world. If economies were solid then BTC would still be at $1.
It will take time to find a price. Perhaps it won't even be with BTC, or at least not BTC in its current state.
That sounds like a good assessment, but surely in 3rd world countries where it is less digitised bringing the digital age will have much more growing pains? Wouldn't they be easier just doing what Zimbabwe has done and use more global currencies? Back on topic: Why hasn't this mini-rally been eaten by bears yet? I think BTC might be a complimentary currency (e.g. with M-Pesa http://memeburn.com/2013/07/kipochi-brings-bitcoin-to-africa-through-m-pesa/) and used in an app like Kipochi. I really think that is the biggest news we've seen for BTC in a while but most people don't see how big it can be. edit - let BTC be used on non smart phones with apps like Kipochi pretty much solves a lot of technological problems. I do agree with you though in that the volatility is indeed a problem. We are very early in the game BUT at the same time I have a feeling the maturity of usefulness will be reached in ways many of us can't fathom. Remember, BTC is a Black Swan technology of sorts so it's growth will be likewise imo. Kipochi can very well be our first offspring... Regarding your on topic point  We have moved from a low of $65 (which I almost felt like jumping into for the bounce but don't like entering at the bottoms of big red candles) to a high of 80. Perhaps we consolidate a bit and then head back down. It seems like this move up was purely technical. I do see more decent sized buys coming in but in large part the move was started by a huge buy of 4500. I don't like entering a rally based on a large player. Perhaps it is petering out. I will see what we do around $85 if we get that high. IAS edit - Forgot your question. Yeah, I guess it would be "easier" and use global currencies but some governments won't allow that. I still go back to the complimentary thing. We don't need BTC to be adopted by mass amounts of people (% wise) to be successful (money wise). Think about just one small country using it, or just 1% of people in a few countries as a store of wealth - to move money - for online transactions, etc. That would be huge. Should BTC actually take off and be an internet currency "standard", another doozy. |
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In short because it's the most perfect form of money that has ever existed. Eventuslly mr. Market will recognise this and the market will reflect the true value.
Check out Erik Voorhees' articles if you like to reaf a clearly written explanation why Bitcoin is the best money thus far.
I agree, bitcoin is revolutionary. It IS the best form of money that has ever existed. However, it is still in its infancy whatever way you look at it. For it to BE money it needs a stable price, who is going to trade with something with no fixed value or at least some what of a guarantee of your spending power down the line. The ONLY way to get round this is to stop all this crazy speculation that it's bigger than Jesus/the internet etc and actually use it as money. Until it is actually used as money en masse all this volatility is just delaying it being mass adopted. Yes a bubble is great for bitcoin, for publicity and adoption, but it NEEDS to deflate and have steady growth in order to compete as money. All this bullish sentiment that its value right now is in tripple digits or that it will some day be the global currency is irrelevant. Bitcoin needs to walk before it can run and with the only people jumping on the train are expecting it. The price ends up being 99% speculation and 1% asset, this only helps to stunt its growth as a viable currency. I think you are mistakingly overvalueing the impact of price. When people first criticize bitcoin, who actually understand it and don't scream ponzi, initially outline the fact that spending power is of utmost importance in a currency. I don't want to be paid at the end of the month in something that can lose or gain a significant portion of wealth in a very short space of time. Price would follow after mass adoption but why would the mass adopt a volatile currency? Tell that to people who's currency is more volatile than BTC. As well as more manipulated. See Argentina. Many of us feel BTC will first see adoption outside America, waaaay outside. The volatility of BTC is in large part a function of the instability of the current economic system in shambles all over the world. If economies were solid then BTC would still be at $1. It will take time to find a price. Perhaps it won't even be with BTC, or at least not BTC in its current state. |
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It's clear the wall served its purpose  If there were enough buyers we'd eat right through that wall. This should be worrisome to "bulls" as we are coming off the first rally in a while AND coming off support. But, we do have to see what happens once America is awake fully. |
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Just a random observation from blockchained :
I can't help but to notice 2 things :
* we just touched and bounced off the dotted line - long-term trendline - which has provided good support since day 1.
* "mining factor" is almost at an all time low, and has been dropping like crazy lately.
Thoughts ?
I can't see there being a relationship between the hash rate and the price, at least in that I don't see a higher hash rate increasing the price. This is an interesting chart from blockchain.info and it makes one wonder about getting into mining. All those new super powerful rigs coming out, how can the small guy keep up? Worrisome to me about a group getting 51% of the control IF, IF the rigs don't come down in price like other electronic items.  And revenue is stabilizing, for now....  |
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200 day EMA (blue line): once support, now resistance  And it is worth noting that the 20 crossed under the 100EMA around July 1st. Now, the 10 is about to cross under the 200. |
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Youll only get compensated for the coins weight in silver though $10, thats it, which is less than the shipping cost, the postal service will never recognize the value of the LTC, and the high premium hes charging on top of that. Hell, the LTC is not even in the coin until you tell him you got it.
You will get compensated for whatever the invoice / customs form says. You are not compensated for things that are made of silver for their melt value, you are compensated for what you paid. The LTC's are not shipped loaded on the coin. That happens after you receive them. Didn't mean to create a problem here. Was really just looking to get an option on the shipping charges that didn't increase risk. |
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And here we go, moving up over yesterdays move up, on lower volume then yesterday. Last 3 times that happend recently (I posted those pics a while ago) we came down hard.
it makes sense doesnt it.. reloading with coins to dump again.. .. buying up doesnt work for now.. maybe it's a realy big fish testing the market.. if it's ready for trend reversal. and it seems not goddamit.; since when i became a bear.. hope to be bull again arround 50's  but i'm just guessing them big boys gonne push it even harder.. It is sort of weird actually. Buying coins to dump later on a downward price move. I mean that would only be done by VERY large pockets and with what intention? The central banks manipulate currencies as a matter of policy. Outside of that, who is going to spend that kind of money in such a small market? If BTC truly is a threat, then it is best to keep it down for as long as possible. But I think a lower price brings more people into it. Even these Elites make mistakes (constantly I might add) But, to buy a bunch of coins on support, when things are oversold, can really get the bump started. They could theoretically wait for what they think is a top and then sell those coins off into it and hope to crash it (or rather continue the crash)... |
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Someone want to make a prediction for tomorrow or the day after?  |
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All those spikes with their huge candle shadows were mostly the result of 1 person buying 10-15k at once against the trend. I actually mislabeled the first one even though it was probably the most ridiculous, you should be able to spot it.
Ahhh, because the time frame is so short. Yes, I remember when those bounces happened it was quite apparent. Just not used to looking at that kind of chart... That "manipulator" came in, as I remember, to Save a Sunday, Bloody Sunday around 3 weeks ago. And I just noticed the same thing happened a few minutes ago with a large buy, pretty much going against the trend. |
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Thanks for the replies, even the smart ass one. And, obviously I and others care since it's been brought up. Some sellers listen and respond to buyers needs. Helps out everyone.
All I'm saying is why not give a choice? It would be nice to say, hey, can I have it shipped for 12 bucks insured to $400? That sounds fair. And if you want to pay registered for 60, then choose so.
What is going to happen if the price of BTC goes to $30? Is he still going to charge .6 for shipping? I doubt it, so it's best to have the shipping charge fixed.
IAS
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And here we go, moving up over yesterdays move up, on lower volume then yesterday. Last 3 times that happend recently (I posted those pics a while ago) we came down hard.
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All those spikes with their huge candle shadows were mostly the result of 1 person buying 10-15k at once against the trend. I actually mislabeled the first one even though it was probably the most ridiculous, you should be able to spot it.
Ahhh, because the time frame is so short. Yes, I remember when those bounces happened it was quite apparent. Just not used to looking at that kind of chart... That "manipulator" came in, as I remember, to Save a Sunday, Bloody Sunday around 3 weeks ago. |
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May 31st, MtGox: 130-126 price range. You should have sold in May and gone away.  And concerning any bounces caused by "huge smart money", have a look at this again: How hard is it to believe that a good number of the whales are smart, savvy geeks like us who can see the incredible potential, but with just a fuck ton more cash? And they throw in a few % of their net worth to hold for the next few years... and everyone in the wall thread is like OH SHIT 10K BUY haha
 Smart money so clever! Smart money, trading against the trend. Do you really want to be a part of this "smart money"? Missing it Blitz. All I see is some volume coming in on those highlighted days. |
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Just be fair smoothie. If you can ship a coin for $11 don't charge 4 times the price or 6 or whatever.
It is sort of ironic, these coins represent freedom from repressive systems... or so I thought....
He only wants to ship registered mail so people can't complain they never got it, even if they did. That costs more than $11. This is used all the time to ship silver coins. It is insured to $400. If it is insured, isn't it essentially the same thing? If it wasn't wouldn't people just say I never got it and collect $$$?  |
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... make sure you buy Class 10 SDs
Any problems writing to the card are caused by you not doing that.
I never used to believe that, SD class is about the speed that you can write to it and not about reliability. Since than I have proved myself wrong several times with bizarre results every time. Neil Thanks for the suggestions guys. That looks like it did the trick. I copied the image to my Class 10 SD card and walla, the graphs are back, no more dead kitty's and I can save the date settings. Go with those Class 10 SD cards to be safe. Appreciated, IAS |
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Well, going Short with leverage 5 overnight did not work out nicely for me (entered at around $67, market order).   https://1broker.comEven though things aren't looking good (price wise), you are pretty brave to short in an extremely oversold market and right on support. Good luck, I'm sitting any bounce out for now. |
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