Nights Watch by Afrikoin

[Afrikoin]

Oh, forgot to post here

Bitcoin drama going on in my country Kenya right now

Central bank of Kenya issued notice on virtual currencies and bitcoin https://www.centralbank.go.ke/images/docs/media/Public_Notice_on_virtual_currencies_such_as_Bitcoin.pdf

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[rocks]

Oh, forgot to post here

Bitcoin drama going on in my country Kenya right now

Central bank of Kenya issued notice on virtual currencies and bitcoin https://www.centralbank.go.ke/images/docs/media/Public_Notice_on_virtual_currencies_such_as_Bitcoin.pdf

There is what a government says to do, and then what people actually do.

Curious to understand what you think this means and how you think it effects adoption of Bitcoin in Kenya.

[Afrikoin]

Oh, forgot to post here

Bitcoin drama going on in my country Kenya right now

Central bank of Kenya issued notice on virtual currencies and bitcoin https://www.centralbank.go.ke/images/docs/media/Public_Notice_on_virtual_currencies_such_as_Bitcoin.pdf

There is what a government says to do, and then what people actually do.

Curious to understand what you think this means and how you think it effects adoption of Bitcoin in Kenya.

Streisand effect!

[Afrikoin]

Oh, forgot to post here

Bitcoin drama going on in my country Kenya right now

Central bank of Kenya issued notice on virtual currencies and bitcoin https://www.centralbank.go.ke/images/docs/media/Public_Notice_on_virtual_currencies_such_as_Bitcoin.pdf

There is what a government says to do, and then what people actually do.

Curious to understand what you think this means and how you think it effects adoption of Bitcoin in Kenya.

Streisand effect!

Here is a friend of mine, right after the public notice by central bank



Gets even more interesting. The currennt cabinet secretary ICT Joe Mucheru (appointed and vetted this week) is a huge bitcoin and blockchain fan. Plus, also a board member of Kenya's and Africa's number 1 Digital currency exchange bitpesa!



Also Bitpesa just posted this statement in a national paper today



Expect Kenya to lead Africa in bitcoin adoption

[afbitcoins]

I wonder why on earth central banks are bothered by monetary competition with a form of money which and I quote

"There is no underlying or backing of assets and the value of virtual currencies is
speculative  in  nature"

Its because they care about us. Ah bless those bankers. merry christmas

[Tzupy]

The evolution of the bid sum on Huobi supports a new pump.

[fluffy1337]

The evolution of the bid sum on Huobi supports a new pump.

looks like a double top.

[rocks]

Interesting, thanks for the reply.

[Hyena]

I'm betting 0.1 bitcoins that Bitcoin will be at or above $500 on January 15th. It's pretty conservative because I actually expect a big pump above 600$ in the next 2 weeks. The last pump was just a premature ejaculation, someone got too excited too fast. The trend is upwards and as soon as the majority gets it, it will go crazy. Looking at the latest posts in this thread I would propose that the next ATH would be driven by Africa/Kenya?

[Tzupy]

Well, the TA looks rather bearish, but the healthy bid side in China ( if it's not fake... ), should prevent a break down of the triangle.
Unfortunately for me, if it will break up, it will happen again while I will be asleep, so I might miss another opportunity.

[afbitcoins]

Bitcoin taking a couple of days breather before another attempt to break up through middle of this bullish fork.

[Tzupy]

The evolution of the bid sum on Huobi supports a new pump.

Pump kind of failed, since on OKCoin the huge volume didn't push the price up much and then corrected sharply.
I was 3x long, but the correction triggered my stop loss at 452$, grrr...

[Afrikoin]

"The tech landscape surrounding distributed ledgers"

by tim swanson

http://www.slideshare.net/MrCollectrix/the-tech-landscape-surrounding-distributed-ledgers


*must read. great reality check for bitcoiners*

[Afrikoin]

Bitcoin Technical Analysis - 24

https://www.youtube.com/watch?v=yam2fcpen1A



*i like these videos for short term perspective. I watch them wenever i can*

[Afrikoin]

Episode 9: Tuur Demeester – Bitcoin Price Predictions and Building Private Schools

http://libertyentrepreneurs.com/2015/12/episode-9-tuur-demeester/

16:14 How should you think about investing in the bitcoin space? Tuur has three words for you. “Buy and Hold”. Is he joking, or serious?

18:15 “Somewhere in the next two years, there is going to be a panic, and bitcoin is going to benefit from that.”

[Afrikoin]

Rise of Latin America and Scaling Bitcoin in Hong Kong

http://www.satoshisdeposition.com/podcast/BTCK-182-2015-12-11.mp3

[Afrikoin]

Gold Into the Abyss?

Martin Armstrong

http://www.armstrongeconomics.com/archives/40648

[Afrikoin]

I find that this is quite amazing the regularity of the charts. Do anyone have a clue about this phenomenon ? Maybe some big players/exchanges playing again and again with the same scheme ?

Well there are definitely factors that seem to come into play during each major price increase; for example, the initial run to $32 was likely a result of interest taken after the Gawker article on Silk Road.  The run to $256 occured after the first reward halving and possibly due to the interest in the Cypress bank bail-ins.  The $1200 peak occurred when interest from the Chinese was first beginning to peak, and seemed to get implicit approval from their government.  However, while these things almost certainly played into the price rises, it's hard to say for certain whether any particular event actually caused the rises.  People like to point to every price increase or decrease as occurring because of a specific reason, but sometimes I think that's just fabricating a reason.

This would also not explain the extended relatively flat periods in 2012 and 2015 and the downturns in 2011 and 2014.  This is where I think it's the underlying human tendencies that are affecting things.  People's attention changes, and it happen en masse.  A good example is the selfie chart posted recently in this thread; as interest in something spikes initially everyone jumps on the bandwagon.  Then after a while interest begins to fade and people move onto the next thing.  After a certain cooling off period interest can be renewed in the initial phenomenon if people are still talking about it.  That is what I believe happens here, where phase 1 of each cycle reflects initial interest or pent up demand, and then phase 2 reflects a rebound of an interest that hasn't yet run it's course.  By the time phase 3 happens people are losing interest or are distracted or disillusioned, and price reflects that.  It then takes a year or two before things are ready to start again.

As another example of interest cycles, look at fashion and societal trends.  It takes about 20 years for those cycles to repeat, which is why in the 90s we saw a resurgence of interest of the 70s (fashion, hair, nostalgia, music), then the 2000's saw a "flashback" to what was popular in the 80s, and now in the 2010s there has been more interest in the 90s again (and to a lesser degree the 70s).

Without a general sentiment in the market (generally bear or bull), individual events won't have a large lasting impacts.  Large buys or sells have more impact when they happen in the direction the market is moving anyway than when they move against it.  Same for news events.
 

[Afrikoin]

Looks like the Bitcoin blockchain debate isn't as healthy as we thought. STill risk of a hardfork. That should matter for price right?

Peter Todd: there's no reason for us [bitcoin core] to release code with an increase - let a competing team do that.

https://www.reddit.com/r/Bitcoin/comments/3xh2mz/peter_todd_theres_no_reason_for_us_bitcoin_core/

[hdbuck]

Looks like the Bitcoin blockchain debate isn't as healthy as we thought. STill risk of a hardfork. That should matter for price right?

Peter Todd: there's no reason for us [bitcoin core] to release code with an increase - let a competing team do that.

https://www.reddit.com/r/Bitcoin/comments/3xh2mz/peter_todd_theres_no_reason_for_us_bitcoin_core/

Bitcoin is and will stay strong as is. No bugs, just features.

Core devs does not have the power, and decentralisation implies hardforks are impossible without 95% consensus. Problem is bitcoin spread too much to allow such évents...

Ergo forkers are altcoin wannabees.

Blockchain 2.0 suckerz