ThickAsThieves
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March 22, 2013, 01:12:02 PM |
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Litecoin clearly topped on the 20th, and has been crashing. In fact, all the alt coins seem to have followed the same script. I think this is important - it means the speculative juices have maxxed out on those markets. Bitcoin is bigger and taking longer, but I fail to see why it won't eventually follow suit.
Another interesting thing that I've noticed is this tendency for people to claim that "bitcoin does well when bad things happen in the world". This same argument has been used for gold. And yet, so far, the charts tell the opposite story: bitcoin does well when stocks and general financial speculation are high (such as the high in 2011, which perfectly matched the high in the US small caps/large caps ratio), and goes down when speculative fever does. So far when the economy worsens, people want cash, and not gold or bitcoins.
Things could change for sure, but I'm just pointing out the hard, cold evidence thus far doesn't match the kinds of fundamental arguments I'm hearing based on past market activity. They sure sound good and logical on paper though, I won't argue with that
Litecoin is not that kind of indicator, since it's main purpose is to buy bitcoin. Litecoin cannot be stable unless bitcoin is stable. Also, litecoin value is highly manipulated by its whales.
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humanitee
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March 22, 2013, 01:17:00 PM |
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Litecoin clearly topped on the 20th, and has been crashing. In fact, all the alt coins seem to have followed the same script. I think this is important - it means the speculative juices have maxxed out on those markets. Bitcoin is bigger and taking longer, but I fail to see why it won't eventually follow suit.
Another interesting thing that I've noticed is this tendency for people to claim that "bitcoin does well when bad things happen in the world". This same argument has been used for gold. And yet, so far, the charts tell the opposite story: bitcoin does well when stocks and general financial speculation are high (such as the high in 2011, which perfectly matched the high in the US small caps/large caps ratio), and goes down when speculative fever does. So far when the economy worsens, people want cash, and not gold or bitcoins.
Things could change for sure, but I'm just pointing out the hard, cold evidence thus far doesn't match the kinds of fundamental arguments I'm hearing based on past market activity. They sure sound good and logical on paper though, I won't argue with that
You can't buy shit with Litecoin or any altcoin. Bitcoin actually has an economy based around it (albeit, still somewhat fledgling).
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siulynot
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March 22, 2013, 01:21:16 PM |
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Litecoin clearly topped on the 20th, and has been crashing. In fact, all the alt coins seem to have followed the same script. I think this is important - it means the speculative juices have maxxed out on those markets. Bitcoin is bigger and taking longer, but I fail to see why it won't eventually follow suit.
Another interesting thing that I've noticed is this tendency for people to claim that "bitcoin does well when bad things happen in the world". This same argument has been used for gold. And yet, so far, the charts tell the opposite story: bitcoin does well when stocks and general financial speculation are high (such as the high in 2011, which perfectly matched the high in the US small caps/large caps ratio), and goes down when speculative fever does. So far when the economy worsens, people want cash, and not gold or bitcoins.
Things could change for sure, but I'm just pointing out the hard, cold evidence thus far doesn't match the kinds of fundamental arguments I'm hearing based on past market activity. They sure sound good and logical on paper though, I won't argue with that
You can't buy shit with Litecoin or any altcoin. Bitcoin actually has an economy based around it (albeit, still somewhat fledgling). An economy around it??? I thought bitcoins where used to sit on them until your ass hurt or until you are rich...
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humanitee
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March 22, 2013, 01:35:43 PM |
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An economy around it??? I thought bitcoins where used to sit on them until your ass hurt or until you are rich...
Fortunately the black market alone will find many uses for Bitcoin, even if the white market for some reason fails.
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siulynot
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March 22, 2013, 01:40:14 PM |
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An economy around it??? I thought bitcoins where used to sit on them until your ass hurt or until you are rich...
Fortunately the black market alone will find many uses for Bitcoin, even if the white market for some reason fails. I wonder if the crack dealer in my hometown knows what bitcoin is... :/
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BitPirate
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March 22, 2013, 01:40:28 PM |
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Litecoin clearly topped on the 20th, and has been crashing. In fact, all the alt coins seem to have followed the same script. I think this is important - it means the speculative juices have maxxed out on those markets. Bitcoin is bigger and taking longer, but I fail to see why it won't eventually follow suit.
I disagree. When BTC is looking temporarily weak, speculators will turn to LTC, and vice versa. LTC is performing poorly because there are too many gains to be had in BTC right now, not due to overall speculator appetite.
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humanitee
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March 22, 2013, 01:43:31 PM |
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An economy around it??? I thought bitcoins where used to sit on them until your ass hurt or until you are rich...
Fortunately the black market alone will find many uses for Bitcoin, even if the white market for some reason fails. I wonder if the crack dealer in my hometown knows what bitcoin is... :/ "You wanna buy some crack?" "No I want to tell you about Bitcoin."
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lucif (OP)
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March 22, 2013, 03:13:22 PM |
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Typical ponzi couch-investor. As rule, they used to stay without property and money at the end. Goof - its a fate.
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myself
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chaos is fun...…damental :)
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March 22, 2013, 03:14:55 PM |
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A 22-year-old currency trader so he traded for 3 years max no ?
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Los desesperados publican que lo inventó el rey que rabió, porque todo son en el rabias y mas rabias, disgustos y mas disgustos, pezares y mas pezares; si el que compra algunas partidas vé que baxan, rabia de haver comprado; si suben, rabia de que no compró mas; si compra, suben, vende, gana y buelan aun á mas alto precio del que ha vendido; rabia de que vendió por menor precio: si no compra ni vende y ván subiendo, rabia de que haviendo tenido impulsos de comprar, no llegó á lograr los impulsos; si van baxando, rabia de que, haviendo tenido amagos de vender, no se resolvió á gozar los amagos; si le dan algun consejo y acierta, rabia de que no se lo dieron antes; si yerra, rabia de que se lo dieron; con que todo son inquietudes, todo arrepentimientos, tododelirios, luchando siempre lo insufrible con lo feliz, lo indomito con lo tranquilo y lo rabioso con lo deleytable.
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siulynot
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March 22, 2013, 03:42:58 PM |
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lucif (OP)
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Clown prophet
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March 23, 2013, 10:49:45 AM Last edit: March 23, 2013, 11:15:06 AM by lucif |
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Pinpoint accuracy ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) Lets see whats next. If bulls still in act ($47.89 should not be broken), futher upside could surprise even super-optimists. ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fwww.sierrachart.com%2Fimage.php%3Fl%3D1364035785618.png&t=665&c=hc_-A233BfZHfw)
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lucif (OP)
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March 23, 2013, 11:56:49 AM |
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Wave [3] must not be shortest wave in impulse hehe ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) Basic EW rules.
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flipperfish
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Dolphie Selfie
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March 23, 2013, 12:03:03 PM |
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Wave [3] must not be shortest wave in impulse hehe ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) Basic EW rules. What I always wanted to know about this rule: Which distance metric is applied? Is it only time, only price or euclidean distance of both?
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lucif (OP)
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March 23, 2013, 12:07:21 PM |
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It is measured by the absolute price distance.
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flipperfish
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Dolphie Selfie
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March 23, 2013, 12:18:43 PM |
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Thanks, so Wave [3] should be pretty bullish then, no? ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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thefiniteidea
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March 23, 2013, 12:21:56 PM |
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Correct.
I would imagine we'd hit $100... probably by early next month.
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herzmeister
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March 23, 2013, 12:51:44 PM |
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A 22-year-old currency trader so he traded for 3 years max no ? well i started programming long before i was 18 ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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lucif (OP)
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March 23, 2013, 02:16:14 PM |
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I was mostly in dissonance with wave 3 off 9.77 low learning price behavior. I hope i got resonance with price now.
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myself
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chaos is fun...…damental :)
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March 23, 2013, 04:27:20 PM |
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A 22-year-old currency trader so he traded for 3 years max no ? well i started programming long before i was 18 ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) u cant trade currencies before you are 18
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Los desesperados publican que lo inventó el rey que rabió, porque todo son en el rabias y mas rabias, disgustos y mas disgustos, pezares y mas pezares; si el que compra algunas partidas vé que baxan, rabia de haver comprado; si suben, rabia de que no compró mas; si compra, suben, vende, gana y buelan aun á mas alto precio del que ha vendido; rabia de que vendió por menor precio: si no compra ni vende y ván subiendo, rabia de que haviendo tenido impulsos de comprar, no llegó á lograr los impulsos; si van baxando, rabia de que, haviendo tenido amagos de vender, no se resolvió á gozar los amagos; si le dan algun consejo y acierta, rabia de que no se lo dieron antes; si yerra, rabia de que se lo dieron; con que todo son inquietudes, todo arrepentimientos, tododelirios, luchando siempre lo insufrible con lo feliz, lo indomito con lo tranquilo y lo rabioso con lo deleytable.
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