my intuition says: we're sitting on a rocket about to be ignited

[BlackBison]

Hahaha 

[adamstgBit]

and now it's easier for a big player like Google to say, "what?  Wordpress is doing IT!"

I suspect Google will wait a few months to let WordPress be the guinea pig.

I would have expected more of a price rise with the wordpress news just like I would have expected a huge move down off of GLBSE closing.

Seems like the market ignores the news for the most part.

a 6.3% move in roughly a day (from 11.0 to 11.7) is in other markets (even the volatile silver, for example) considered a big move.

Also: the wordpress news not only triggers existing bitcoiners to buy, but it also generates new bitcoin users and introduces a lot of new people to bitcoin that didn't know about it before (thankfully, wordpress "gets it" and embraced bitcoin for the right reasons and also says so). In a mid-term view this is even more bullish then a couple traders reacting to news.

You forget: This is bitcoin. 6.3% moves mean nothing. We just had a 25% drop in October on two occasions in two days each.

big moves like that will not happen any more. as the market gets bigger 2 things happen

1) The market is more capable of handling big dumps
2) Coins become more distributed, meaning less people have enough bitcoin to crash the market

I think we are seeing this effect now.
if you look back you find that price swigs are getting smaller.

there is more and more fiat out there, however, so big rallies are still possible, no?

it goes both ways unfortunately... because the market will not allow a crazy swing up or down unless its justified with new development / news.

look at the log chart you'll see what I'm talking about.

I'm sorry but you acting like there is a complete science to this is retarded.

Bold for emphasis. Not all movements need to be on news/developments.

your right, if someone buys 100k bitcoin in one shot ... etc.
but their is some truth to what i say. the market is growing, and wild swings are fading, that much is clear.
you remember that 7.20 wall that we hit OVER AND OVER yet could not break it?
that was 1 dumb ass ( pirate40 ) controlling the price and profiting from it.
that kind of influence is going away.

the market moves because of the crowd moving it, not 1 guy.

[awakening]

ROFL

[smoothie]

and now it's easier for a big player like Google to say, "what?  Wordpress is doing IT!"

I suspect Google will wait a few months to let WordPress be the guinea pig.

I would have expected more of a price rise with the wordpress news just like I would have expected a huge move down off of GLBSE closing.

Seems like the market ignores the news for the most part.

a 6.3% move in roughly a day (from 11.0 to 11.7) is in other markets (even the volatile silver, for example) considered a big move.

Also: the wordpress news not only triggers existing bitcoiners to buy, but it also generates new bitcoin users and introduces a lot of new people to bitcoin that didn't know about it before (thankfully, wordpress "gets it" and embraced bitcoin for the right reasons and also says so). In a mid-term view this is even more bullish then a couple traders reacting to news.

You forget: This is bitcoin. 6.3% moves mean nothing. We just had a 25% drop in October on two occasions in two days each.

big moves like that will not happen any more. as the market gets bigger 2 things happen

1) The market is more capable of handling big dumps
2) Coins become more distributed, meaning less people have enough bitcoin to crash the market

I think we are seeing this effect now.
if you look back you find that price swigs are getting smaller.

there is more and more fiat out there, however, so big rallies are still possible, no?

it goes both ways unfortunately... because the market will not allow a crazy swing up or down unless its justified with new development / news.

look at the log chart you'll see what I'm talking about.

I'm sorry but you acting like there is a complete science to this is retarded.

Bold for emphasis. Not all movements need to be on news/developments.

your right, if someone buys 100k bitcoin in one shot ... etc.
but their is some truth to what i say. the market is growing, and wild swings are fading, that much is clear.
you remember that 7.20 wall that we hit OVER AND OVER yet could not break it?
that was 1 dumb ass ( pirate40 ) controlling the price and profiting from it.
that kind of influence is going away.

Even Gavin says, which I believe too, "there will be growing pains"......don't think you've seen the last of it.

[smoothie]

EXACTLY MY POINT! ROFL! 

[ElectricMucus]

EXACTLY MY POINT! ROFL! 

Never sit on a rocket

[adamstgBit]

Never sit on a rocket

idk looks fun  

[smoothie]

Never sit on a rocket

idk looks fun  

What goes up must come down lol

[legitnick]

EXACTLY MY POINT! ROFL!  

Never sit on a rocket

TIL   

[molecular]

and now it's easier for a big player like Google to say, "what?  Wordpress is doing IT!"

I suspect Google will wait a few months to let WordPress be the guinea pig.

I would have expected more of a price rise with the wordpress news just like I would have expected a huge move down off of GLBSE closing.

Seems like the market ignores the news for the most part.

a 6.3% move in roughly a day (from 11.0 to 11.7) is in other markets (even the volatile silver, for example) considered a big move.

Also: the wordpress news not only triggers existing bitcoiners to buy, but it also generates new bitcoin users and introduces a lot of new people to bitcoin that didn't know about it before (thankfully, wordpress "gets it" and embraced bitcoin for the right reasons and also says so). In a mid-term view this is even more bullish then a couple traders reacting to news.

You forget: This is bitcoin. 6.3% moves mean nothing. We just had a 25% drop in October on two occasions in two days each.

big moves like that will not happen any more. as the market gets bigger 2 things happen

1) The market is more capable of handling big dumps
2) Coins become more distributed, meaning less people have enough bitcoin to crash the market

I think we are seeing this effect now.
if you look back you find that price swigs are getting smaller.

there is more and more fiat out there, however, so big rallies are still possible, no?

it goes both ways unfortunately... because the market will not allow a crazy swing up or down unless its justified with new development / news.

look at the log chart you'll see what I'm talking about.

I'm sorry but you acting like there is a complete science to this is retarded.

Bold for emphasis. Not all movements need to be on news/developments.

your right, if someone buys 100k bitcoin in one shot ... etc.
but their is some truth to what i say. the market is growing, and wild swings are fading, that much is clear.
you remember that 7.20 wall that we hit OVER AND OVER yet could not break it?
that was 1 dumb ass ( pirate40 ) controlling the price and profiting from it.
that kind of influence is going away.

the market moves because of the crowd moving it, not 1 guy.

I think your reasoning "(2) Coins become more distributed, meaning less people have enough bitcoin to crash the market" is valid and I also think that price swings up are getting smaller (because/if liquidity increases). However the price swings up cannot be argued using above reasoning and that's probably why you switched your reasoning to "because the market will not allow a crazy swing up or down unless its justified with new development / news", which is a lot less convincing than the "distribution" argument, which only works for the bitcoin side.

[molecular]

my intuition says: we're sitting on a rocket about to be ignited

my rational mind tries to find explanations for the intuition:

• ECB Paper, ZeroHedge coverage / ... taps whole new reservoir of potential supporters and enemies, this might initiate wider public/academic discussion
• I see an above-average amount of newbs trickling in that seem to be quite educated and understanding already (not your typical gamer kid)
• Market turmoil ahead with the reward halving
• Long consolidation period has been going on
• Ongoing and increasing distrust of fiat money and banking system amongst the general population
• Bitcoin fundamentally rocksolid and more and more people "get it"
• All this taken together might push bitcoin beyond the next "critical mass" checkpoint of adoption / public awareness within the next 1-3 months.
  
• ...
• rocket ignition

don't jump off

*pats self on back*

My intuition was correct so far, lets see if it plays out accordingly in the coming weeks and months.

[b!z]

my intuition says: we're sitting on a rocket about to be ignited

my rational mind tries to find explanations for the intuition:

• ECB Paper, ZeroHedge coverage / ... taps whole new reservoir of potential supporters and enemies, this might initiate wider public/academic discussion
• I see an above-average amount of newbs trickling in that seem to be quite educated and understanding already (not your typical gamer kid)
• Market turmoil ahead with the reward halving
• Long consolidation period has been going on
• Ongoing and increasing distrust of fiat money and banking system amongst the general population
• Bitcoin fundamentally rocksolid and more and more people "get it"
• All this taken together might push bitcoin beyond the next "critical mass" checkpoint of adoption / public awareness within the next 1-3 months.
  
• ...
• rocket ignition

don't jump off

*pats self on back*

My intuition was correct so far, lets see if it plays out accordingly in the coming weeks and months.

Hopefully BTC will be $50 each by 2013, and I will be closer to becoming a millionaire.

[Yuhfhrh]

Hopefully BTC will be $50 each by 2013, and I will be closer to becoming a millionaire.

Slow and steady growth is what I would prefer. $50 by 2013 most likely means another crash.

[molecular]

Hopefully BTC will be $50 each by 2013, and I will be closer to becoming a millionaire.

Slow and steady growth is what I would prefer. $50 by 2013 most likely means another crash.

Slow and steady growth (if we can call the period from July 1st 2012 until now steady growth) would take us to almost 50 by the end of 2013.

[Yuhfhrh]

Hopefully BTC will be $50 each by 2013, and I will be closer to becoming a millionaire.

Slow and steady growth is what I would prefer. $50 by 2013 most likely means another crash.

Slow and steady growth (if we can call the period from July 1st 2012 until now steady growth) would take us to almost 50 by the end of 2013.

I wouldn't call July until now steady, considering all the drama and the $15 minibubble lol

[lebing]

I approve of bumping the post with the lolrocket gifs in it.

[byronbb]

Ground Control to Major Tom
Ground Control to Major Tom
Take your protein pills and put your helmet on

Ground Control to Major Tom
Commencing countdown, engines on
Check ignition and may God’s love be with you

Ten ,Nine,Eight.....

[molecular]

a rocket about to be ignited

the only way is down or side ways for 2/3 months, dear OP deal with it

(emphasis mine)



ah, it feels so good to pat myself on the back and kick myself in the balls.

Dear myself, deal with it.

[RodeoX]

molecular , you were basically right. The amount BTC has increased since your first post would be considered a big rally, if it was anything other than bitcoin.

[420]

$12 or $15 here we come!!!