Nights Watch by Afrikoin

[hdbuck]

Bitcoin — the ship needs a new captain.

https://medium.com/@adriancole/bitcoin-the-ship-needs-a-new-captain-b285b70aef8d#.i3siivied

Bitcoin is decentralized and open source.

WE DONT NEED SOME BILL GATES // BARACK OMAHA

Friggin single point of failure.

[Afrikoin]

This piece is titled IMAGINE by afbitcoins




My opinion is no way history repeats itself. THis chart makes assumptions about scalability, risk of hard fork and matters to do with the protocol.

[afbitcoins]

This piece is titled IMAGINE by afbitcoins




My opinion is no way history repeats itself. THis chart makes assumptions about scalability, risk of hard fork and matters to do with the protocol.

You know what they say, history doesn't repeat but it rhymes.

Nice to see my chart being shared. Its not really a prediction more an illustration of the kinds of numbers we could be dealing with 'if' bitcoin hits bubble territory again. With a financial crisis in the pipeline, who knows what might happen? I'd say these sort of prices are realistic but I wouldn't like to guess how probable.

[Afrikoin]

Good read this one by Ian Grigg

What (more) did Bitcoin achieve – coalescence of the community into a GFN

http://www.coinscrum.com/2015/12/14/what-more-did-bitcoin-achieve-coalescence-of-the-community-into-a-gfn/

Above article led to this which shed more light. I felt it reinforced the case for Bitcoin

That Sneaky Exponential—

Beyond Metcalfe's Law to the Power of Community Building

by David P. Reed (http://www.reed.com/contactinfo)

"As the scale of interaction grows more global via the Internet, isn't it possible that a combination of social capital and GFN capital will drive prosperity to those who recognize the value of network structures that support free and responsible association for common purposes?"

[Afrikoin]

Mike Hearn makes some good points

The resolution of the Bitcoin experiment

https://medium.com/@octskyward/the-resolution-of-the-bitcoin-experiment-dabb30201f7#.amm8ayvz2

[RoadTrain]

Mike Hearn makes some good points

The resolution of the Bitcoin experiment

https://medium.com/@octskyward/the-resolution-of-the-bitcoin-experiment-dabb30201f7#.amm8ayvz2

Yet his post is full of lies and propaganda For example, his RBF FUD. Looks just in time for a dump.

[ag@th0s]

Mike Hearn makes some good points

The resolution of the Bitcoin experiment

https://medium.com/@octskyward/the-resolution-of-the-bitcoin-experiment-dabb30201f7#.amm8ayvz2

Reads to me like a baby with a Degree. 

"In the span of only about eight months, Bitcoin has gone from being a transparent and open community to one that is dominated by rampant censorship and attacks on bitcoiners by other bitcoiners. This transformation is by far the most appalling thing I have ever seen,"

Lucky boy

[ssmc2]

Mike Hearn makes some good points

The resolution of the Bitcoin experiment

https://medium.com/@octskyward/the-resolution-of-the-bitcoin-experiment-dabb30201f7#.amm8ayvz2

Reads to me like a baby with a Degree. 

"In the span of only about eight months, Bitcoin has gone from being a transparent and open community to one that is dominated by rampant censorship and attacks on bitcoiners by other bitcoiners. This transformation is by far the most appalling thing I have ever seen,"

Lucky boy

Drama queen

[ag@th0s]

Mike Hearn makes some good points

The resolution of the Bitcoin experiment

https://medium.com/@octskyward/the-resolution-of-the-bitcoin-experiment-dabb30201f7#.amm8ayvz2

Reads to me like a baby with a Degree. 

"In the span of only about eight months, Bitcoin has gone from being a transparent and open community to one that is dominated by rampant censorship and attacks on bitcoiners by other bitcoiners. This transformation is by far the most appalling thing I have ever seen,"

Lucky boy

Drama queen

Didn't get his XT mwah mwah mwa...

[Afrikoin]

Bitcoin Is Dead, Long Live Bitcoin

http://avc.com/2016/01/bitcoin-is-dead-long-live-bitcoin/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+AVc+%28A+VC%29

[Afrikoin]

Wow look at that drop, straight out the bottom of my pitchfork.




As always zooming out a bit gives a bit of different perspective.



Until I see price conclusively below that lower trendline (currently) at $320 for me bull mode is still on.

[Afrikoin]

On Mike Hearn, Block Size, and Bitcoin’s Future

http://bitledger.info/on-mike-hearn-block-size-and-bitcoins-future/

[Afrikoin]

Bitcoin Technical Analysis - 30

https://www.youtube.com/watch?v=eOCs-AaLVMw&feature=youtu.be

*just skip over George's part to Tone. TOne has some decent forecasts.

Calls for $350, $300 and possible mid $200s.

Tone also calls for Gold to back below $1000

[Afrikoin]

Based on everything I have read and charts I have looked at, this is my current bias on price trend till June.

A lot of it is due to soft/hardfork limbo

Some of it due to an EW ABC incomplete wave correction

Some part of it due to a support line at $ 150 from May 2014.

Some part of it due to expected USD strengthening

Some part of it due to expected break below $1000 Gold. Generally, i see Gold and bitcoin as benefiting form similar economic events.

I still think we will get a speculative rise in price during/after the halving, but I'm incline to say this time it might be subdues until - soft/hardfork is reolved.

[Wekkel]

With all due respect, I think the downtrend line is arbitrary. I see weak price development into February based on stochastics  but long term, it could do anything.

[Afrikoin]

With all due respect, I think the downtrend line is arbitrary. I see weak price development into February based on stochastics  but long term, it could do anything.

blue lines are a general direction. So obviously could make zig zags on the way down. Blue lines are a general direction.
 
I am comparing the patterns forming here with similar patterns after double tops



It is only 6 months forward, which i consider medium term

[Afrikoin]

If you ever watched DanVs earliest videos, he awlays talked about an ABC and 5 waves within ABCs.

Based on all i've absorbed,I'm inclined to say $162 to $500 was a higher order move of April 2014.

Thus, a C is required to complete the pattern. Could be prolonged and dragged out. Could be a sharp drop and back up.

[Afrikoin]

Here is another chart by a friend of mine. Chart is from 2 months ago

This is what he said

The chart shows the outlook I have for bitcoin. I still maintain that a move below $150 is necessary to complete the correction which started at the >$1000 high. The recent move that bitcoin made to $500 must have fooled alot of people.

As shown in this chart it was a (B) wave. Elliott Wave Principle describes B waves as phonies. Text: "B waves are phonies. They are sucker plays, bull traps, speculators' paradise, orgies of odd-lotter mentality or expressions of dumb institutional complacency (or both).....If the analyst can easily say to himself, "There is something wrong with this market", chances are it's a B wave. " . This is precisely what happened. People got trapped into thinking we have a new bull market in bitcoin, price rose to above $500 only to fall back below $400 in a matter of hours. This is a perfect lesson in Elliott waves. We know that 5-wave moves determine the direction of the market. Therefore for us to proclaim that the bull market in bitcoin has resumed, we MUST get a five wave move upwards since a low. Looking at the chart in the low area marked (A) at about $150 and the move up to $500 it is clearly corrective (and thus the reason I have marked it W X Y). Bitcoin is going to provide a nice opportunity to go long soon. In fact if you look at the blue horizontal line displaying $85.14 and then you look to the left of the chart, you will notice two converging trendlines. That is a triangle and is the area of the previous 4th wave when bitcoin was rising to above $1000. I expect bitcoin to bottom at about $85 dollars and that will be your opportunity to buy aggressively.

Some of the points raised in the above quote have been raised by other EW chartists - DanV, Ryndiclem. It is not the most popular or even common opinion. But the coincidence is uncanny, and anyone would be a fool to ignore this.

My advice, cut up this chart and stick it on a wall as a reminder of a possible medium term trend

[afbitcoins]

Based on everything I have read and charts I have looked at, this is my current bias on price trend till June.

A lot of it is due to soft/hardfork limbo

Some of it due to an EW ABC incomplete wave correction

Some part of it due to a support line at $ 150 from May 2014.

Some part of it due to expected USD strengthening

Some part of it due to expected break below $1000 Gold. Generally, i see Gold and bitcoin as benefiting form similar economic events.

I still think we will get a speculative rise in price during/after the halving, but I'm incline to say this time it might be subdues until - soft/hardfork is reolved.

Interesting.

Slope on those lines looks quite convincing.

[Afrikoin]

this from Sergio Lerner, prominent Bitcoin core dev. from BitcoinClassic Slack Channel:


sergiodemianlerner 5:29 PM Regarding SegWit, I don't know if you have actually looked at the code but the amount of code changed, including consensus code, is huge. (maybe ~500 lines). I think such change has never been attempted in the history of Bitcoin. We cannot just say lightly that a couple of weeks after the 2mb hard-fork we're going to deploy segwit. That code needs months of review. Also I'm against the complexity of segwit as a soft-fork (probably requires 200 additional lines of code of consensus critical code). Segwit almost prevents consensus-compatible re-implementations of Bitcoin in other languages.