And it begins

[goxed]

The short-squeeze, when it happens, will be immense.

[tarmi]

yes, the short squeeze will be bigger than moon.

we will go straight to 300.

[bassclef]

good.

not a single fuck is given.

I sure hope you know when to fold before you get wiped out. Don't let your fetish for bears be your denial of changing times when it comes.

why do people keep saying that to me, when I am making like 1000 % in profits from it?

why dont you, for a change, do your own business? 

Because you generally act like a dick, call people names and lash out at anyone who attempts to have a conversation with you. Try being less of a miserable person for a change.

[cypherdoc]

yes, the short squeeze will be bigger than moon.

we will go straight to 300.

you really should go back and study the previous ramps in Bitcoin's history.  they've all been around 10x and we've done it around 5x.  all of them were followed by immense crashes out to 90% but always bottomed out higher than before.  

how would you feel if we did it again?  or more importantly, how would your pocket book feel?

[tarmi]

yes, the short squeeze will be bigger than moon.

we will go straight to 300.

you really should go back and study the previous ramps in Bitcoin's history.  they've all been around 10x and we've done it around 5x.  all of them were followed by immense crashes out to 90% but always bottomed out higher than before.  

how would you feel if we did it again?  or more importantly, how would your pocket book feel?

you are telling me that I should change my winning and very profitable year and a half old strategy because bitcoin's history?

noted.  

@bassclef

I am sorry if I hurt your feelings.

[Joe200]

http://www.bloomberg.com/research/markets/news/article.asp?docKey=600-201504290300HUGIN___EUPRX____HUG1916185-1

The world just got a much easier way to invest in bitcoin. The 2nd half of may is going to be very very interesting.

p.s. This is probably what caused that spike on btc-e a few days ago.

It's an ETN. It's not secured by bitcoins. It does not create more demand for bitcoins.

[BlindMayorBitcorn]

I almost survived the longest bear market in Bitcoin history. T-shirt?

[lebing]

http://www.bloomberg.com/research/markets/news/article.asp?docKey=600-201504290300HUGIN___EUPRX____HUG1916185-1

The world just got a much easier way to invest in bitcoin. The 2nd half of may is going to be very very interesting.

p.s. This is probably what caused that spike on btc-e a few days ago.

It's an ETN. It's not secured by bitcoins. It does not create more demand for bitcoins.

wrong.

"XTB Provider AB will hedge all sales of the bitcoin traded note by buying an equal value in the bitcoin market."
http://www.coindesk.com/swedens-nasdaq-exchange-approves-bitcoin-based-etn/

[tarmi]

yeap, they will sell you their own mined coins for a premium.

[Alley]

Sounds like a perfect storm.  Xbt provider, coin etf, and gbtc.  Things are going to get crazy.

[goxed]

yes, the short squeeze will be bigger than moon.

we will go straight to 300.

yes 300 /mBTC

[goxed]

...This is probably what caused that spike on btc-e a few days ago.

What's causing the continuous downward slide for the past year and a half tho?

some TA to keep you occupied, while bulls get ready
http://www.newsbtc.com/2015/04/29/bitcoin-technical-analysis-for-2942015-collapse-expected/

[bassclef]

...This is probably what caused that spike on btc-e a few days ago.

What's causing the continuous downward slide for the past year and a half tho?

some TA to keep you occupied, while bulls get ready
http://www.newsbtc.com/2015/04/29/bitcoin-technical-analysis-for-2942015-collapse-expected/

No offense meant, but that's some terrible analysis.

[8up]

Sounds like a perfect storm.  Xbt provider, coin etf, and gbtc.  Things are going to get crazy.

Besides good news is known to be bad for the bitcoin price.

[Natalia_AnatolioPAMM]

I almost survived the longest bear market in Bitcoin history. T-shirt?

Fanfars and Champagne!

[inca]

good.

not a single fuck is given.

I sure hope you know when to fold before you get wiped out. Don't let your fetish for bears be your denial of changing times when it comes.

why do people keep saying that to me, when I am making like 1000 % in profits from it?

why dont you, for a change, do your own business? 

Because by your own admission you have been trading with leverage for only a few months and it is obvious to everyone you are over invested.

[Spaceman_Spiff]

why do people keep saying that to me, when I am making like 1000 % in profits from it?

why dont you, for a change, do your own business?  

Because by your own admission you have been trading with leverage for only a few months and it is obvious to everyone you are over invested.

If you read (somewhat between the lines of) his comment, he has already taken profit off the table.  I don't think anybody needs to worry about Tarmi going bankrupt.

[afbitcoins]

Is an ETF good for bitcoin? I worry no it is not. Long term will be harmful to bitcoin in fact. In the short term it may instigate a bull run as the ETF accumulates bitcoin for its reserve. (It may even be a staggeringly big one) However longer term ETFs could  be used to manipulate and suppress price and counter the threat to govt fiat and dampen enthusiasm.

Its not hard to see the parallel. Just as in gold and silver markets, investors are herded into paper shares ie GLD and SLV instead of going and buying physical bullion, the same will become true with bitcoin. But if the ETF is not honest about increasing its own reserves why people buy the ETF then the reality is that that investment money did not reduce bitcoin supply and therefore does not put pressure on price to rise.

Unless theres something about blockchain technology which will force the ETF to be completely transparent about its holdings ?

[Morecoin Freeman]

Holding the actual product, bitcoin, could become really valuable.
Be sure to keep your coins safe!

[Zangelbert Bingledack]

Is an ETF good for bitcoin? I feel no it is not. Long term will be harmful to bitcoin in fact. Yes in the short term it may instigate a bull run. (It may even be a staggeringly big one) However longer term ETFs will be used to manipulate and suppress price and counter the threat to govt fiat and dampen enthusiasm.

Its not hard to see the parallel. Just as in gold and silver markets, investors are herded into paper shares ie GLD and SLV ETFs the same will become true with bitcoin. But if the ETF is not honest about increasing its own reserves why people buy the ETF then the reality is that that investment money did not reduce bitcoin supply and therefore does not put pressure on price to rise.

In my idealistic vision of bitcoin, people would own real bitcoin and not any derivatives of bitcoin which are in reality a means to control the market

Auditing Bitcoin is fairly easy. Auditing gold is very, very hard. A Bitcoin ETF can simply put a bit of data on their website to all but prove their reserves to everyone. Besides relying on a third-party audit, which can be gamed if the government is involved, all a gold ETF can do to persuade people is to put things like gold bar serial numbers up, which of course can be gamed in many ways easily. It's also much easier and much cheaper to take delivery in BTC than gold. I see no reason why people would allow fractional reserve, especially once BTC is easier to hold, and also given all the people who want to hold it in other countries, don't want US juridictional risk, etc.

Even assuming the worst case scenario where no one ends up caring and the ETFs operate on 10x reserve, it can at most reduce "the moon" by tenfold. $100,000 per coin instead of a $1 million. Realistically it's quite a bit less, since it's not like everyone in the world is going to buy the ETF instead of actual coins. But an ETF accounting for a huge amount of the base BTC supply itself implies a great jump in adoption, from which we could already expect a 10x in the price easily.

So I think worst case, with the assistance of corrupt auditors and government complicity, they might be able to hold back a year or two of gains. After that, fractional reserve has its limits, especially as Bitcoin gains more market uses so that people actually need to withdraw it.