gizmoh
Legendary
 Offline
Activity: 1428
Merit: 1000
|
 |
November 05, 2015, 06:03:38 AM |
|
The Pump & Dump Reserve currency
Chinese are going to be afraid to Fomo buy now!
|
|
|
|
|
|
|
|
|
|
|
|
|
|
You get merit points when someone likes your post enough to give you some. And for every 2 merit points you receive, you can send 1 merit point to someone else!
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
|
|
harrymmmm
|
|
November 05, 2015, 06:05:27 AM |
|
-snip-
We've all known for years that bitcoin would shine in crises. We've seen it proven a few times now.
Nothing new about it.
Impossible to predict and exciting to watch tho!
How do you mean? As in "ain't no way Danny Brewster or Ukyo Jon or friedcat or TF or [...] could've sleezed away with millions in fiat, but Bitcoin really came through," that sort of shine? Those scams will happen with fiat and bitcoin. Noone shines there. If I wasn't clear, I meant real crises. Usually government created, maybe long term, economic/financial crises. Examples are bank closures and forfeitures, monetary inflation, capital controls, embargos, etc. Not sure how to package those into a single word other than to call them crises (some short term, some long term). Which bitcoin will always shine in. Well no, bitcoin lends itself to scam and crime particularly well, far better than fiat. That's why everyone from kidnappers to pedos to ransomwhare haxxt0rs are starting to use bitcoin. And that's why scams which got burnt down in the fiat real world sometime around the turn of (last) century are getting a new lease on life in bitcon world. But you say you don't mean those? So tell me, which crises did Bitcoin shine in, specifically? Since "We've seen it proven a few times now"? You have trouble with reading? Or just comprehension? I listed the ones I meant. You quoted them above. Although you've snipped the context of my original reply, do remember it was in the context of capital controls, won't ya? |
|
|
|
|
|
JorgeStolfi
|
|
November 05, 2015, 06:13:49 AM |
|
Owning a bitcoin is more like owning a royalty dividend on the intellectual property of the blockchain, than owning a stock.
The more things the blockchain is used for the more your royalty payment should be worth. Value of bitcoin today = NPV of the value of all the fees on all the future transactions. Bitcoin traders are in effect speculating on future volumes of transactions and speed of adoption. One could argue that recent positive coverage and investment might significantly increase speed of adoption - which would lead to a real reason for a rising price.
That is not true at all. A bitcoin is NOT a share of intellectual property of the blockchain. If you own the copyrigt of a movie or the patent of an invention, you get royalties every time someone plays the movie or uses the invention commercially. But while you are holding the bitcoin, you don't get a single satoshi of royalties, no matter how much the blockchain is used. And anyone can build another blockchain using the same code but a new genesis block, that does not include your coins; and the miners can choose to mine that one instead of the bitcoin one -- all without paying a dime of royaties. Rather, a bitcoin is a piece of real estate on some imaginary planet. The planet has a fixed area, and its land registry is VERY secure, and property titles are easily transferred via the internet. But the value of that land depends entirely on the fancy of traders, because one cannot do anything with it except buy and sell it. And anyone can imagine an infinitude of other planets, and sell land on those... Saying that "the price of stocks too is speculative" is misleading talk of penny stock and bitcoin salesmen. Stock prices have speculative component, true; but that component has little relevance for long-term investing, because the price stays anchored on the concrete assets and products of the company. In contrast, the price of an instrument that has no backing assets and pays no dividends, being anchored to nothing, can wander randomly by orders of magnitude, according to the irrational gut feelings of traders and investors. |
|
|
|
|
Tzupy
Legendary
Offline
Activity: 2128
Merit: 1074
|
|
November 05, 2015, 06:15:02 AM |
|
Holy shit... Didn't see this coming...  Bought back while sleeping at 400$ with leverage, now I just woke up and 50% of my yesterday's profits went pufff...  Oh well, at least I'll get some sleep... |
|
|
|
|
rokkyroad
Legendary
Offline
Activity: 1090
Merit: 1000
|
|
November 05, 2015, 06:20:42 AM |
|
Where will the dead cat bounces take us for the bottom? 300 tomorrow?
|
|
|
|
|
|
Cconvert2G36
|
|
November 05, 2015, 06:20:56 AM |
|
A western panic, an eastern panic, about 9 hrs apart.
|
|
|
|
|
|
L0uis
|
|
November 05, 2015, 06:23:46 AM |
|
West double bottomed
|
|
|
|
|
|
relm9
|
|
November 05, 2015, 06:27:52 AM |
|
On finex the stairstep walls are back also... probably from a single whale. Obvious manipulation
|
|
|
|
|
Sturgeon
Sr. Member
Offline
Activity: 392
Merit: 250
ドラゴンスピ
|
|
November 05, 2015, 06:28:00 AM |
|
West double bottomed
i hope we can hit double top so we can hit $500 again it's very ekstream bitcoin rate, price very low |
|
|
|
|
gizmoh
Legendary
Offline
Activity: 1428
Merit: 1000
|
|
November 05, 2015, 06:28:59 AM |
|
Crazy volume on Finex Also, the sell wall is peaking 35k coins now (mainly one entity) but still heavy resistance to going any lower. Entity is selling for real this time.. Hows is he gonna unload 20k in this thin market.. |
|
|
|
|
|
Cconvert2G36
|
|
November 05, 2015, 06:31:39 AM |
|
Crazy volume on Finex Also, the sell wall is peaking 35k coins now (mainly one entity) but still heavy resistance to going any lower. Entity is selling for real this time.. Hows is he gonna unload 20k in this thin market.. Why would you pile on the visible ask side if your goal was to cash out at the highest price? |
|
|
|
|
|
ynef
|
|
November 05, 2015, 06:39:32 AM |
|
For the last 2 nights I've had a dream about BTC dropping to $0. True story.
|
|
|
|
|
gizmoh
Legendary
Offline
Activity: 1428
Merit: 1000
|
|
November 05, 2015, 06:40:56 AM |
|
Crazy volume on Finex Also, the sell wall is peaking 35k coins now (mainly one entity) but still heavy resistance to going any lower. Entity is selling for real this time.. Hows is he gonna unload 20k in this thin market.. Why would you pile on the visible ask side if your goal was to cash out at the highest price? He is an avid trader.. Expect cheap coins but wouldn't mind unloading at $400! Some people forget $400 was not seen for a long time.. China Fomo game has ended. Chinese will be scared to fomo buy as this guaranteed up has ended. |
|
|
|
|
Fatman3001
Legendary
Offline
Activity: 1526
Merit: 1013
Make Bitcoin glow with ENIAC
|
|
November 05, 2015, 06:41:03 AM |
|
Holy shit... Didn't see this coming... Bought back while sleeping at 400$ with leverage, now I just woke up and 50% of my yesterday's profits went pufff... Oh well, at least I'll get some sleep... That "pit pat piffy wing wong wang" can be tricky. |
|
|
|
|
Mervyn_Pumpkinhead
Legendary
Offline
Activity: 876
Merit: 1000
|
|
November 05, 2015, 06:42:34 AM |
|
Willy2 isn't selling yet. It's just turned off for some of days, so gravity would do it's thing and it could continue from a more comfortable spot.
|
|
|
|
|
|
ynef
|
|
November 05, 2015, 06:44:24 AM |
|
Chinese will be scared to fomo buy as this guaranteed up has ended.
I think there's a pretty good chance that it will start up again, bigger this time, when people realize it's a perfect time to buy. Especially after they look at those fat breakout candles from two days ago. I guess today's candle is vital for this. |
|
|
|
|
|
Cconvert2G36
|
|
November 05, 2015, 06:50:49 AM |
|
Crazy volume on Finex Also, the sell wall is peaking 35k coins now (mainly one entity) but still heavy resistance to going any lower. Entity is selling for real this time.. Hows is he gonna unload 20k in this thin market.. Why would you pile on the visible ask side if your goal was to cash out at the highest price? He is an avid trader.. Expect cheap coins but wouldn't mind unloading at $400! Some people forget $400 was not seen for a long time.. China Fomo game has ended. Chinese will be scared to fomo buy as this guaranteed up has ended. If he's an avid trader he shouldn't chase bids away from his asks, but I suspect accumulation. Who knows though, we've had people place a 30k at $300 and just let it get eaten. |
|
|
|
|
gizmoh
Legendary
Offline
Activity: 1428
Merit: 1000
|
|
November 05, 2015, 06:57:35 AM |
|
Chinese will be scared to fomo buy as this guaranteed up has ended.
I think there's a pretty good chance that it will start up again, bigger this time, when people realize it's a perfect time to buy. Especially after they look at those fat breakout candles from two days ago. I guess today's candle is vital for this. There's a massacre of margin call on okcoin and futures, bulls are hurt and all in. Shorts are already out, nothing to cover for. The aura of new bull trend has turned into a pump and dump game. The new bitcoin buyers are irrational gamblers that will bail out at any sign of weakness. Serious investors will reconsider this investment proposition. Sorry to break the bullishness guys! |
|
|
|
|
ChartBuddy
Legendary
Offline
Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
|
 |
November 05, 2015, 07:01:21 AM |
|
|
|
|
|
|
Fatman3001
Legendary
Offline
Activity: 1526
Merit: 1013
Make Bitcoin glow with ENIAC
|
|
November 05, 2015, 07:09:42 AM |
|
Chinese will be scared to fomo buy as this guaranteed up has ended.
I think there's a pretty good chance that it will start up again, bigger this time, when people realize it's a perfect time to buy. Especially after they look at those fat breakout candles from two days ago. I guess today's candle is vital for this. There's a massacre of margin call on okcoin and futures, bulls are hurt and all in. Shorts are already out, nothing to cover for. The aura of new bull trend has turned into a pump and dump game. The new bitcoin buyers are irrational gamblers that will bail out at any sign of weakness. Serious investors will reconsider this investment proposition. Sorry to break the bullishness guys!  |
|
|
|
|
|
Poll
