Yet another analyst :)

[lucif]

If you want to be good in TA, dont draw straight lines on log scale graph. In regular scale they become curves.

There is good room for retest blue and even green support

[Kupsi]

Its centralized. It holding users' money. I dont see PCI-DSS compliance there. It will be burned with fire by hackers or owner will take a wallet and dissapear. And nobody will be able to put lawsuit. Coz coins are just numbers.

This is the fate of such services.

Ohh... It's so hard to transfer the bitcoins out of Coinbase after they are bought  

...and the money in my bank account are also just numbers.

[lucif]

About strong move, security and responsibility.

You all know what happened right after price bump in Jun 2011. Mtgox got hacked.

Because unknown service coded on knees was not valued in hackers while bitcoin didnt have significant value. But since bump, MtGox security gained value in hackers' eyes. They realized that there are millions of dollars located there and nobody there give a fuck to security. And we got what we got.

The same stuff with pirateat40, bitcoinica and others. Anonymouse nature of bitcoin destroys any responsibility in service owners mind.

We remind regulary to MagicalTux about bug with price walking behind walls. This is total crap for serious marketplace. And what? And nothing. Maybe Tux relaxing on bahamas with whores and your money and dont give a fuck about such minors.

There is no central authority in Bitcoin which will force services to complete identification and force to meet security standards like PCI-DSS.

And what doing Bitcoin Foundation about that? Nothing. They just scream about bitcoin price gaining value 100500% in press release. Drones.

They dont realize that if Bitcoin will get $100 in value - 80% of bitcoin services will be hacked and fucked up people for money due lack of security and resposibility.

So i see a strong price resistance in a form of absent security and responsibility control by some authority.

All major drops were due to some big service fuckup.

You want Bitcoin $100? Go ahead. that would be apocalypse.

[wareen]

If you want to be good in TA, dont draw straight lines on log scale graph. In regular scale they become curves.

I know, but low-order exponential growth is not too far fetched IMHO - especially given Bitcoin's still rather early phase of adoption. That's based on a more fundamental view on Bitcoin's growth though and I'm not even trying to argue with you on TA grounds
Anyway - we'll soon see how it turns out...

[lucif]

Bitcoin will not get $100 until Bitcoin Foundation will not bring to community central advisory authority for bitcoin centralized services.

It must force services to meet security and responsibility standards.

It must put site seal for approved services. It must widthdraw site seal from services which ignore users complains or security standards and identification procedures.

[lucif]

Besides I could help with such service as I am familiar with payment card industry - if they ask. But nobody gives a fuck still.

[lucif]

High price requires high liqudity.

And high liquidity requires high responsibility.

Why are you wiling to go to the moon if people are scary to put liqudity on market? As nobody doesnt know how to show their responsibility to people. Hello Bitfinex!

So since there is no central authority of bitcoin services advisory - there is no responsisbility.

Since there is no resposibility - people are scaried due to past events and rumors.

Since people scaried - there is no liqudity rise.

Since no liquidity rise WE GO DOWN.

Enough thoughts for today.

[cypherdoc]

lucif, i think you've revealed yourself here in an unfavorable way.  you, my friend, are seriously allowing your TA to be biased by your personal beliefs.

as has been pointed out here, there are various ways to fit the lines and squiggles to fit your bear case; just as there are ways to fit the lines and squiggles to fit the bull case.

this is why i always say that although 70% of my opinion is TA based, i still allow 30% of my opinion to be based on fundamentals.  that 30% is actually quite important and depends on how you view and interpret the world around you.  basing your personna on Satan says alot.

now, you may say that cypherdoc is letting his own biases affect his TA as well.  there's some truth to that.  but this is why i allow my buy and sell recommendations to be centered on trend following.  i wrap my Cycle Theory and fundamental knowledge around the trend following to put things into context and help me time my trades.

but here's where my service is valuable, IMHO.  i have alot of real world experience and perspective to wrap my TA around:

1.  i'm a boomer-i understand the rapaciousness of my fellow boomers and to what extent they will go to make money off of other ppl.  alot of these guys are my friends.
2.  i have family-nothing focuses the mind or rallies the human instinct more than protecting one's own loved ones financially from what's going on today.  if i don't make, they won't make it.
3.  i've got an active portfolio of real estate and own my own home-this requires management and a thorough understanding of debt.  i understand the processes involved in what for most ppl is the largest and most expensive transaction they will ever do in their lifetimes.  the debt became so threatening i paid all of them off and now live debt-free.  
4.  i started my own highly successful business by anyone's measure-i did this in a highly competitive environment where the first year was all about survival.  i took out a large business loan initially cosigned by my father in law (talk about pressure!).  i paid him back in the first year.
5.  i play the stock market in a big way-i use lots of leverage as well as derivatives.  i'm constantly getting margin calls as i experiment around the edges.  nothing gives one more experience than playing directly in the sandbox of the manipulators on Wall St.  i've seen all the chart patterns and tricks these punks use on a daily basis and that education helps me tremendously with Bitcoin.  you've seen my screenshots.
6.  i voraciously read about the real economy everyday-you and others scoff about stocks and what's going on in the real world and ask what the hell that has to do with Bitcoin?  answer:  EVERYTHING.  you really think Bitcoin exists in a box?  don't be stupid.
7.  i live in the US-i'm not saying that by living here that i'm better.  but living in the country that has the world's reserve currency and is still the biggest economy in the world gives me some perspective on where the world is headed.  when the US blows, everything will blow.
8.  i've invested in gold/silver bullion in a big way (in the past)-if you don't understand the fundamentals around gold, you won't understand Bitcoin.
9.  i mine-not b/c i'm making any great money off it or that i'm good at it, but b/c i want to understand the fundamentals behind a miner's thought process.  and let me tell you, it is highly revealing.  there is some serious shit (money, brain power, and motivation) going on in the mining arena.  

lucif, your TA is decent, but there is so much more to learn.

[lucif]

I don't offer paid services. This is just all my thoughts. Maybe too out-and-out, but I don't care as nobody don't pay me and nobody has to follow me.

It is provided by as-is.

Why i do this? I don't know. I just don't like when native ppl hammered by following the fanatics. This is my personal sad story. Nuff said.

[cypherdoc]

I don't offer paid services. This is just all my thoughts. Maybe too out-and-out, but I don't care as nobody don't pay me and nobody has to follow me.

It is provided by as-is.

Why i do this? I don't know. I just don't like when native ppl hammered by following the fanatics. This is my personal sad story.

i respect your opinion and it is equally as valuable as mine.  i used to do this for free as well in my gold threads but got trolled so hard by the gold bugs i decided to take it private and offer it as a paid service as well.  and it's working out and i suffer less. 

maybe you should start your own service?  i'm sure there are alot of other Satan lovers as well 

[lucif]

No

[lucif]

I don't love the Satan as well as I don't love Jesus.

But my knowledge is provided for me by one ancient cult. I didn't want that, I didn't ask that, but they choose me in some reason. It is provided to me for free, so I can't ask payment. It is some related to ppl psychology, so I can handle any science, including trading.

However I can hide the full picture from public and make some money on that. Not too much, don't worry.

[cypherdoc]

I don't love the Satan as well as I don't love Jesus.

But my knowledge is provided for me by one ancient cult. I didn't want that, I didn't ask that, but they choose me in some reason. It is provided to me for free, so I can't ask payment. It is some related to ppl psychology, so I can handle any science, including trading.

However I can hide the full picture from public and make some money on that. Not too much, don't worry.

   i can't compete with that!

[lucif]

I don't compete with you, I still compete with them. You just represent one of their face, whos don't know whats he doing.

They get this knowledge, and used it fine for some time. I don't stand against this knowledge to be used to lure a girl into orgy, but it is too much to kill her after.... See my sig.

I'll try to use this knowledge with benefit for people to open their eyes and help to see the reality.

[lucif]

My five cents to Bitcoin Foundation: https://bitcointalk.org/index.php?topic=133844.new#new

By the motives of this topic.

[lucif]

Well, I tested "Responsibilty" technicial indicator in this topic: https://bitcointalk.org/index.php?topic=133844.msg1425338#msg1425338

Seems that it equals to zero in Bitcoin community.

Reach people know that big money is big resposibility.

So there is no big money here.

My long term trend is DOWN.

[cypherdoc]

Well, I tested "Responsibilty" technicial indicator in this topic: https://bitcointalk.org/index.php?topic=133844.msg1425338#msg1425338

Seems that it equals to zero in Bitcoin community.

Reach people know that big money is big resposibility.

So there is no big money here.

My long term trend is DOWN.

you are conflating 2 separate things here.  gold serves as a useful analogy.  there is a huge amount of liquidity surrounding the trading of gold on the exchanges precisely b/c it has proven itself in the past as a useful store of value.  there is, otoh, almost a zero economy surrounding gold however.

Bitcoin is just a form of money.  the regulations you speak of concern businesses engaging in Bitcoin services.  there may or may not be a need for a certifying organization.  but it won't affect Bitcoin itself if it becomes a stable store of value like most of us here think it will.  

[lucif]

Cypher, liquidity and responsibility are linked proportionally.

Liquidity will not come to place without resposibility. Are you a poor man if you do not know this truth?

[cypherdoc]

Cypher, liquidity and responsibility are linked proportionally.

Liquidity will not come to place without resposibility. Are you a poor man if you do not know this truth?

time and patience should solve this as more ppl become aware.  the mathematics provides the responsibility.

[lucif]

So I should complaint mathematics for MagicalTux not fixing bugs and has 1-2-3-4 months delays in withdrawals?