kokjo
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October 17, 2011, 09:15:27 AM |
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Now that we hit 2.9 can we please drop the "rally to $30" talk? At least for the next couple of months... I am interested to know where the bottom is and I hope that the price will finally stabilize (maybe around $2?). no, we can't. its now people will buy because of the low price, and thereby forcing the price to go up. |
"The whole problem with the world is that fools and fanatics are always so certain of themselves and wiser people so full of doubts." -Bertrand Russell
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proudhon
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October 17, 2011, 09:19:15 AM |
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I want you guys to run this thing right into the ground.
Why? It just seems to me everyone is intent on scooping up more coins by selling now and buying back later. A strategy which, as I suggested, will only lead downward if enough people participate in it, and I think enough people are participating in it. Apparently the only way people are going to see how foolish that strategy is is to let it run its course, which, in this case, will very probably be total price collapse. Nice job everyone. |
Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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N12
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October 17, 2011, 09:37:57 AM |
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S3052, do you see the long term trend broken now?
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Xenland
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I'm not just any shaman, I'm a Sha256man
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October 17, 2011, 09:43:03 AM |
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S3052, do you see the long term trend broken now?
 Magic S2052-ball says...  -end pun |
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S3052 (OP)
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October 17, 2011, 09:43:38 AM |
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S3052, do you see the long term trend broken now?
Yes. Longterm trend is broken intraday. it needs a rapid reversal above 3.7$ and better 4$ to hold in the next 24 - 48h |
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kokjo
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October 17, 2011, 09:45:22 AM |
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S3052, do you see the long term trend broken now?
Yes. Longterm trend is broken intraday. it needs a rapid reversal above 3.7$ and better 4$ to hold in the next 24 - 48h is this good or bad? |
"The whole problem with the world is that fools and fanatics are always so certain of themselves and wiser people so full of doubts." -Bertrand Russell
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nmat
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October 17, 2011, 09:47:50 AM |
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S3052, do you see the long term trend broken now?
Yes. Longterm trend is broken intraday. it needs a rapid reversal above 3.7$ and better 4$ to hold in the next 24 - 48h is this good or bad? I think he means that we need a confirmation of the current prices. This could be just a spike. If the price returns to higher levels during the next couple of days the "long term buy" still holds. |
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kokjo
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October 17, 2011, 09:53:05 AM |
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S3052, do you see the long term trend broken now?
Yes. Longterm trend is broken intraday. it needs a rapid reversal above 3.7$ and better 4$ to hold in the next 24 - 48h is this good or bad? I think he means that we need a confirmation of the current prices. This could be just a spike. If the price returns to higher levels during the next couple of days the "long term buy" still holds. its i just a spike, it just people that are panicking. when the real players wake(NY time: 5.52), i think we will se more buys or more sells. i don't know, but im still buying. |
"The whole problem with the world is that fools and fanatics are always so certain of themselves and wiser people so full of doubts." -Bertrand Russell
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S3052 (OP)
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October 17, 2011, 09:56:03 AM |
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If this trend won't hold, then there are dark clouds ahead. Not only for prices but also for the bitcoin economy.
While the protocol will likely still remain secure and good, bitcoin growth and adoption will likely be harmed massively
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kokjo
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October 17, 2011, 09:59:17 AM |
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If this trend won't hold, then there are dark clouds ahead. Not only for prices but also for the bitcoin economy.
While the protocol will likely still remain secure and good, bitcoin growth and adoption will likely be harmed massively
no no you are seeing it wrong: low prices -> more buys. is'nt there an inverted chart, like the USD price in BTC, is will explain it good i think. i know that it is just another interpertation of data, but its important |
"The whole problem with the world is that fools and fanatics are always so certain of themselves and wiser people so full of doubts." -Bertrand Russell
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speeder
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October 17, 2011, 10:13:42 AM |
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If this trend won't hold, then there are dark clouds ahead. Not only for prices but also for the bitcoin economy.
While the protocol will likely still remain secure and good, bitcoin growth and adoption will likely be harmed massively
no no you are seeing it wrong: low prices -> more buys. is'nt there an inverted chart, like the USD price in BTC, is will explain it good i think. i know that it is just another interpertation of data, but its important The price is reflection of how much USD is injected into BTC economy. Right now we NEED that, we do not have self-running economy yet. If the price get stuck "crashed" it means BTC economy crashed too. |
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kokjo
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October 17, 2011, 10:17:40 AM |
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If the price get stuck "crashed" it means BTC economy crashed too.
no. the bitcoin economy can not crash. it will still have some value, a crash means no value(or negative, fun fun). it can not happen to bitcoin, as long as there is least 2 persons in the world that is using it. |
"The whole problem with the world is that fools and fanatics are always so certain of themselves and wiser people so full of doubts." -Bertrand Russell
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proudhon
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October 17, 2011, 10:21:23 AM |
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If the price get stuck "crashed" it means BTC economy crashed too.
no. the bitcoin economy can not crash. it will still have some value, a crash means no value(or negative, fun fun). it can not happen to bitcoin, as long as there is least 2 persons in the world that is using it.  |
Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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kokjo
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October 17, 2011, 10:23:21 AM |
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If the price get stuck "crashed" it means BTC economy crashed too.
no. the bitcoin economy can not crash. it will still have some value, a crash means no value(or negative, fun fun). it can not happen to bitcoin, as long as there is least 2 persons in the world that is using it. VERY SERIOUS! |
"The whole problem with the world is that fools and fanatics are always so certain of themselves and wiser people so full of doubts." -Bertrand Russell
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zby
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October 17, 2011, 10:28:22 AM |
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S3052, do you see the long term trend broken now?
Yes. Longterm trend is broken intraday. it needs a rapid reversal above 3.7$ and better 4$ to hold in the next 24 - 48h But using the log scale for this trend was not the orthodoxy of technical analyzis - or was it? |
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speeder
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October 17, 2011, 10:32:10 AM |
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If the price get stuck "crashed" it means BTC economy crashed too.
no. the bitcoin economy can not crash. it will still have some value, a crash means no value(or negative, fun fun). it can not happen to bitcoin, as long as there is least 2 persons in the world that is using it. So... you consider 2 people using some pretend money as "economy" ? |
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▀▀▀███▄▄▄███▀▀▀ | | | ..PLAY NOW.. |
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kokjo
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October 17, 2011, 10:37:43 AM |
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If the price get stuck "crashed" it means BTC economy crashed too.
no. the bitcoin economy can not crash. it will still have some value, a crash means no value(or negative, fun fun). it can not happen to bitcoin, as long as there is least 2 persons in the world that is using it. So... you consider 2 people using some pretend money as "economy" ? no! the use of money as an economy. money is essentially useless, their real value, is what was used to create them(paper or electricity). but its often not the price that they are traded for. |
"The whole problem with the world is that fools and fanatics are always so certain of themselves and wiser people so full of doubts." -Bertrand Russell
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kokjo
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October 17, 2011, 10:49:43 AM |
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look at mtgoxlive, im right! people are buying again.  |
"The whole problem with the world is that fools and fanatics are always so certain of themselves and wiser people so full of doubts." -Bertrand Russell
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zby
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October 17, 2011, 11:02:28 AM |
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But using the log scale for this trend was not the orthodoxy of technical analyzis - or was it? Zby, log charts are preferred over linear charts when representing rate of change. The drop from $3.5 to $2.5 was just as significant as from $14 to $10. Then the fundamental question is are trends related to rates of change? The links you provided only define what log scale is. |
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