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Question: What happens first:
$65,000 - 59 (86.8%)
$48,000 - 9 (13.2%)
Total Voters: 68

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26336548 times)
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rezurect
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June 09, 2013, 04:37:06 PM
 #14781

Overbought?
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Its About Sharing
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June 09, 2013, 04:38:18 PM
 #14782

Overbought?

Ummm, no.  Cheesy  http://bitcoincharts.com/charts/mtgoxUSD#rg60ztgSzm1g10zm2g25zi1gMACDzi2gSStochzi3gMFIzi4gStochRSIzv
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June 09, 2013, 04:56:19 PM
 #14783

Wow.. it bounced all the way up to 99!!!!

This is surprising. Could it be that BTC finally found some of that so called 'real value'? It does appear that speculation has less and less room for crazy dives/rallies. Could this be true? I have no clue, what do you guys think?
I would never guess we would scratch 100 any time soon after today's drop. I was wrong.
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June 09, 2013, 04:57:41 PM
 #14784

Goin' UP?

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June 09, 2013, 04:59:40 PM
 #14785

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June 09, 2013, 05:02:27 PM
Last edit: June 09, 2013, 05:13:26 PM by Rampion
 #14786

Sold some at 98ish, sold some at the bottomish around $90 (as usual).

IMO the case for the "correction" is officially debunked, we are officially in the bubble deflation process, thus I expect it to go lower. Testing $80, and if it falls, testing $50. I'll load the truck at that point.

I would love for it to be fast, as we could enter a mid term growth phase quicker, but I'm afraid it will be long process. I expect plenty of traps and mini sucker rallies, as usual during bubbles deflation.

Edit: it hurts to sell coins, those paper wallets really looked at me with sad eyes, but at the end of the day the purpose is for them to be replenished ASAP with more coins they holded now.

I'm now a lonely bear with only 20% of the BTC holdings I had a couple of weeks ago, at least I can comfort myself thinking that I'm still a supernode, of the lowest grade, but still a supernode at the end of the day  Grin
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June 09, 2013, 05:03:11 PM
 #14787

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June 09, 2013, 05:05:20 PM
 #14788

I expect plenty of traps and mini sucker rallies, as usual during bubbles deflation.
shhtt Smiley
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June 09, 2013, 05:06:57 PM
 #14789

Sold some at 98ish, sold some at the bottomish around $90 (as usual).

IMO the case for the "correction" is officially debunked, we are officially in the bubble deflation process, thus I expect it to go lower. Testing $80, and if it falls, testing $50. I'll load the truck at that point.

I would love for it to be fast, as we could enter a mid term growth phase quicker, but I'm afraid it will be long process. I expect plenty of traps and mini sucker rallies, as usual during bubbles deflation.
Are you going for some more ASICs or are you just looking to buy lower? I thought you never wanted to sell precious BTC to speculate. Tongue
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June 09, 2013, 05:07:48 PM
 #14790

Sold some at 98ish, sold some at the bottomish around $90 (as usual).

IMO the case for the "correction" is officially debunked, we are officially in the bubble deflation process, thus I expect it to go lower. Testing $80, and if it falls, testing $50. I'll load the truck at that point.

I would love for it to be fast, as we could enter a mid term growth phase quicker, but I'm afraid it will be long process. I expect plenty of traps and mini sucker rallies, as usual during bubbles deflation.

+1 I'll load up at $50 as well as I expect quite a bounce from there before it drops into the $30's
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June 09, 2013, 05:19:41 PM
Last edit: June 09, 2013, 05:31:38 PM by Rampion
 #14791

Sold some at 98ish, sold some at the bottomish around $90 (as usual).

IMO the case for the "correction" is officially debunked, we are officially in the bubble deflation process, thus I expect it to go lower. Testing $80, and if it falls, testing $50. I'll load the truck at that point.

I would love for it to be fast, as we could enter a mid term growth phase quicker, but I'm afraid it will be long process. I expect plenty of traps and mini sucker rallies, as usual during bubbles deflation.
Are you going for some more ASICs or are you just looking to buy lower? I thought you never wanted to sell precious BTC to speculate. Tongue

I sold a big amount (approx. 40% of my holdings) for the ASIC's. That happened on Monday at $118ish. Today I sold a similar chunk, and this is for speculation. Yeah, you are right that I always preach about not selling the precious coins. But still, this is one of those occasions were I cannot miss the opportunity for cheaper coins. One thing is to speculate to catch the bottom of the weekly dip, which I don't do, and a very different one is to hold on all your coins desperately during a bubble deflation.

Still, I a have paper wallet I'll never touch. I cannot be 100% out of BTC, I'm not mentally prepared for that Smiley
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June 09, 2013, 05:33:34 PM
Last edit: June 09, 2013, 06:07:56 PM by Blitz­
 #14792

You know, speaking of supernodes, it's kind of a pity reptilia isn't here to provide us with entertainment as to why we aren't making any progress to his 300k USD before Christmas.

BTW, does anybody have that epileptic black/white bear gif? It was a whole bunch of bears. This is important. Grin

I just found this, that's cool too:

Epilepsy warning https://i.imgur.com/YMeG4sX.gif
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June 09, 2013, 05:38:38 PM
 #14793

Woh, thanks for the pre-bedtime epilepsy attack   Shocked
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June 09, 2013, 05:40:08 PM
 #14794


Exactly right. Bitcoin has never been a billion dollar market in the first place. The figures most people are touting from Bitpay are hugely inflated because of mining equipment, and the evidence like data on sales of Humble Bundle, Reddit Gold and bitcoinstore suggest that people don't use Bitcoin as a currency in any significant way.

We'll I will quote this every single time I try to make my point.
I'll let you have some part of the treatment I got when saying nobody is using it except .....

my friends are using bitcoin.. umong them selves and other friends

for example: 1 come and help a day with painting my friends house.. ..  i get a bitcoin from my friend for the work..

now .. this is slowly spreading  .to friends of friends..  and so on.  

it's a start isnt it? Wink facebook became popular the same way.

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June 09, 2013, 05:46:23 PM
Last edit: June 09, 2013, 06:03:09 PM by Abandon
 #14795

Supports & Resistances:
niothor
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June 09, 2013, 05:56:47 PM
 #14796

You know, speaking of supernodes, it's kind of a pity reptilia isn't here to provide us with entertainment as to why we aren't making any progress to his 300k USD before Christmas.

BTW, does anybody have that epileptic black/white bear gif? It was a whole bunch of bears. This is important. Grin

I just found this, that's cool too:

https://i.imgur.com/YMeG4sX.gif

Not sure if you are careless or ignorant, but you might want to post a warning that these sorts of pictures can cause seizure.

http://en.wikipedia.org/wiki/Photosensitive_epilepsy

Also called Pokemon Shock Smiley
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June 09, 2013, 06:00:13 PM
 #14797

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June 09, 2013, 06:08:00 PM
 #14798

Sold some at 98ish, sold some at the bottomish around $90 (as usual).

IMO the case for the "correction" is officially debunked, we are officially in the bubble deflation process, thus I expect it to go lower. Testing $80, and if it falls, testing $50. I'll load the truck at that point.

I would love for it to be fast, as we could enter a mid term growth phase quicker, but I'm afraid it will be long process. I expect plenty of traps and mini sucker rallies, as usual during bubbles deflation.
Are you going for some more ASICs or are you just looking to buy lower? I thought you never wanted to sell precious BTC to speculate. Tongue

I sold a big amount (approx. 40% of my holdings) for the ASIC's. That happened on Monday at $118ish. Today I sold a similar chunk, and this is for speculation. Yeah, you are right that I always preach about not selling the precious coins. But still, this is one of those occasions were I cannot miss the opportunity for cheaper coins. One thing is to speculate to catch the bottom of the weekly dip, which I don't do, and a very different one is to hold on all your coins desperately during a bubble deflation.

Still, I a have paper wallet I'll never touch. I cannot be 100% out of BTC, I'm not mentally prepared for that Smiley

Can you repeat the facts that lead to your decision to sell now? Just with dashes would be great, thanks!
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June 09, 2013, 06:15:58 PM
 #14799

....



I would like to hear you undermine this claim of mine:

The only reason why somebody would go and exchange fiat for bitcoin right now (not counting speculation, store of value) is to spend it on Silkroad. Nobody in right mind would go and exchange it to btc only to buy something they could have bought instantly with traditional methods. And the only thing that they can't, are silkroad goods. YES if you already have bitcoins then you might use them on other stuff, if you mine, you will use them. But this is minority of people. I'm talking about general public.

2 examples:

1. Someone in nigeria wants to buy an upgrade to their wordpress account. No other way to do that than with bitcoin.
2. Someone wants to send value across the world in less than an hour... they use bitcoin to do that.

But your question is erroneous. There is no need for it to function in such an exclusive way at this point in the lifecycle. It's simply the latent functionality which will, if continued on its current course be for superior to the existing system. It's like comparing Usain Bolt as a toddler to and adult Chris Farley in a 100m dash. You know Chris Farley will win in the short term, but in the long term? Nope.
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June 09, 2013, 06:18:22 PM
 #14800

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