2017 Bitcoin Price-Chart: the price is fractal, so the pattern will repeat. 💸

[americanpegasus]

Well, people can chill out about the block size.  It will be upgraded soon.  
  
And I am sick of hearing about how Gox forged the price in 2013.  The price was the price: shut up already.  
  
At the next bubble you idiot trolls will be saying that it's only wild speculators 'faking' the price and driving it up...  It's not really that high.  
  
FACT: People were buying and selling bitcoin for that price.  
  
FACT: That pattern falls into the same fractal as the other bitcoin price movements.  
  
FACT: The peak of the next bubble will surprise almost everyone who will think it's *way* too high.  So if most people think the peak will be $8,000 you can expect the peak to be $20,000.  
  
FACT: Mastercard is a fucking idiot for hiring you trolls instead of using that money to figure out to profit from bitcoin.

[rjclarke2000]

Well, people can chill out about the block size.  It will be upgraded soon.  
  
And I am sick of hearing about how Gox forged the price in 2013.  The price was the price: shut up already.  
  
At the next bubble you idiot trolls will be saying that it's only wild speculators 'faking' the price and driving it up...  It's not really that high.  
  
FACT: People were buying and selling bitcoin for that price.  
  
FACT: That pattern falls into the same fractal as the other bitcoin price movements.  
  
FACT: The peak of the next bubble will surprise almost everyone who will think it's *way* too high.  So if most people think the peak will be $8,000 you can expect the peak to be $20,000.  
  
FACT: Mastercard is a fucking idiot for hiring you trolls instead of using that money to figure out to profit from bitcoin.

I am a big fan of facts....


Especially fact 3

[americanpegasus]

The Pegafractal Cryptograph Currency Conjecture is already changing the face of bitcoin speculation.   
 
Even now I see scientists all over the forums using these new breakthroughs to accurately model and predict imminent price movements. 
 
I am very proud.

[minerpumpkin]

Well, people can chill out about the block size.  It will be upgraded soon.  
  
And I am sick of hearing about how Gox forged the price in 2013.  The price was the price: shut up already.  
  
At the next bubble you idiot trolls will be saying that it's only wild speculators 'faking' the price and driving it up...  It's not really that high.  
  
FACT: People were buying and selling bitcoin for that price.  
  
FACT: That pattern falls into the same fractal as the other bitcoin price movements.  
  
FACT: The peak of the next bubble will surprise almost everyone who will think it's *way* too high.  So if most people think the peak will be $8,000 you can expect the peak to be $20,000.  
  
FACT: Mastercard is a fucking idiot for hiring you trolls instead of using that money to figure out to profit from bitcoin.

Well, I agree with some of those claims, and disagree with others. Yes, people traded coins at those prices, BUT: Willy effectively eliminated the supply of new coins. He accounted for (IIRC) 10% of the total volume on Gox at that time only buying coins. 10% doesn't sound like much, but it actually is incredibly much if it's only buying coins and never selling them again. That would mean the true influx of new buying power afterwards reverted to (almost) the levels before Willy was active (minus new people in the game). Bottom line: Yes, it wasn't only Willy, and new people really joined the game due to the high spike in price, but it wasn't only natural growth.

[gentlemand]

He accounted for (IIRC) 10% of the total volume on Gox at that time only buying coins. 10% doesn't sound like much, but it actually is incredibly much if it's only buying coins and never selling them again.

No one knows yet, but the likelihood is that Willy was buying coins that didn't exist with USD that didn't exist. I'm sure coins and money were dribbling out in limited quantities but that 10% extra volume was possibly entirely fictional.

[minerpumpkin]

He accounted for (IIRC) 10% of the total volume on Gox at that time only buying coins. 10% doesn't sound like much, but it actually is incredibly much if it's only buying coins and never selling them again.

No one knows yet, but the likelihood is that Willy was buying coins that didn't exist with USD that didn't exist. I'm sure coins and money were dribbling out in limited quantities but that 10% extra volume was possibly entirely fictional.

I don't know... Doesn't the Willy Report state that Willy was buying those coins (which may or may not be real) with fictional USD? I believe he bought the coins with false USD, and thus drove the price up (also the surrounding trading, of course). If they really were malevolent, Gox could then theoretically have sold those coins, after turning Willy off, at a high premium, and thus recouped potential FIAT losses, while speculating they wouldn't run out of BTC.

[Elwar]

He accounted for (IIRC) 10% of the total volume on Gox at that time only buying coins. 10% doesn't sound like much, but it actually is incredibly much if it's only buying coins and never selling them again.

No one knows yet, but the likelihood is that Willy was buying coins that didn't exist with USD that didn't exist. I'm sure coins and money were dribbling out in limited quantities but that 10% extra volume was possibly entirely fictional.

I don't know... Doesn't the Willy Report state that Willy was buying those coins (which may or may not be real) with fictional USD? I believe he bought the coins with false USD, and thus drove the price up (also the surrounding trading, of course). If they really were malevolent, Gox could then theoretically have sold those coins, after turning Willy off, at a high premium, and thus recouped potential FIAT losses, while speculating they wouldn't run out of BTC.

That ignores the fact that China was the initial exchange in most major price movements. And MtGox de-coupled from all of the other exchanges when it came to price. Everyone knew that it was not real. People were even paying 10:1 for "MtGox coins" toward the end. They tended to be 10-30% higher price than all of the other exchanges.

[yassin54]

dependent on revolutionary breakthroughs in mining

The Jinn project has been worked on diligently for months behind the scenes, and we are finally ready to share it with the world.

Jinn is the first modern ternary general purpose processor.

Look that: https://nxtforum.org/news-and-announcements/(ann)-jinn/msg106247/#msg106247

[manselr]

Well, people can chill out about the block size.  It will be upgraded soon.  
  
And I am sick of hearing about how Gox forged the price in 2013.  The price was the price: shut up already.  
  
At the next bubble you idiot trolls will be saying that it's only wild speculators 'faking' the price and driving it up...  It's not really that high.  
  
FACT: People were buying and selling bitcoin for that price.  
  
FACT: That pattern falls into the same fractal as the other bitcoin price movements.  
  
FACT: The peak of the next bubble will surprise almost everyone who will think it's *way* too high.  So if most people think the peak will be $8,000 you can expect the peak to be $20,000.  
  
FACT: Mastercard is a fucking idiot for hiring you trolls instead of using that money to figure out to profit from bitcoin.

Indeed, bubbles always are a big surprise, and they get higher than logically imagined previously. Similarly, people thought you were insane, and ready to enter a mental asylum if you claimed Bitcoin would reach 100 dollars EVER, we all know that happened, so add at least a zero after whatever prediction you are doing as future ATHs.

[encryptedcharms]

Lol you're welcome btw.   

[fallinglantern]

See that peak on the left?  That's the old $1,000 all-time-high from 2014.    
  
https://i.imgur.com/cSNy0x6.jpg  
 
  
It's gonna be fucking NUTS.  Can you even imagine the news coverage and how the Internet is going to blow up?  Y'all better be upgrading your servers *now*.

The self-similarity is pretty impressive:

[cryptodontus]

I'm not sure why people keep thinking bitcoin behavior can be adequately modeled by anything remotely linear...I guess I've just studied too much math? I'm not even a professional mathematician . . . Damped sinusoidal function with exponential amplitude and geometric period co-efficient sub functions does an alright job. But I'm just looking at this intuitively, I haven't actually calculated anything.

Calling it fractal and showing these graphs is the best I've seen someone do so far (not that I've looked too hard). Although they should probably be scaled logarithmically for better predictive power, this gets the pattern across fairly well.

[pompatore]

https://medium.com/@mcasey0827/speculative-bitcoin-adoption-price-theory-2eed48ecf7da

is the cicle over?

[americanpegasus]

[Bitcoinaire]

americanpegasus, the legend. We want more thought on bitcoin and monero!

[panju1]

Wow... This topic hasn't been edited since 2015. So you predicted a peak and you predicted that it will happen in 2017. That is amazing. If the rise is anything like the last time, it won't be long before we hit 5 digits.

[megadeth]

PEGASuSSS! welcome back

[americanpegasus]

PEGASuSSS! welcome back

I never left.  My attention has just been elsewhere.  But yes, it's good to recognize old faces. 😊

americanpegasus, the legend. We want more thought on bitcoin and monero!

I have become aware of something incredibly profound happening in the market space for crypto.  It's so remarkable that I'm not even sure those working on it understand all the ramifications.  Ultimately it may do for exchanges what bitcoin did for money itself... Imagine an open source program that automatically market makes an asset and returns money to you.  Imagine this code given away for free, out in the open, and encouraged for everyone to use.  This is coming soon.  Bitcoin allowed everyone to have the power of the mint.  Well soon the power of Wall Street hedge funds will be in the hands of all market participants as well. 
 
But in the meantime....  Woooo! 
 

[neilol-real]

Very interested in your new projects. Good to see you around these parts again

[americanpegasus]

This account is now back under the control of the real^tm americanpegasus.  Someone ethical handed over the password back to me, thankfully.  I am sorry for any nonsense that has been happening while the account was in other hands.
 
Now let's get back to eerily accurate predictions about the future. 
 
#fuckicos #fuckethereum #fuckscammysigcampaigns #ugh