fonsie
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April 10, 2015, 12:21:54 PM |
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I'm sceptical. BIT opening has been next week for about 3 weeks & these ebay/paypal announcements seem to be trotted out 2 or 3 times a year & fuck all happens.
That's the nature of regulators. They move at glacial speed, and they have a big impact. Plus Gemini & the Winkledouches ETF. I want some ******* good news. Proper news, adoption. Getting fed up of this bear market, if I wasn't fairly comfortable in life I'd have sold everything by now. What's worse is that 2014 was all this great merchant adoption news --- Expedia! Microsoft! Dell! Overstock! Now this 2015 year so far, what do we have announced? Rakuten! (yay, but nobody cares) PayPal integration! (yay, but nobody cares, old news). And that's pretty much it. We were promised BIG retailers would just keep rolling in, like Amazon, Starbucks, Target, Walmart, etc. Still haven't seen shit. Coinbase claims to supposedly have 39,000 merchants integrated (according to their website). 39,000! So where's the fkn list, Coinbase? Can't we see who's on the damn list? Are you guys so ashamed of the merchants on this list that we the public can't even know about them? And I'm sure with BitPay it's the same, a bunch of merchants integrated that we know fk all about. Great marketing guys, great marketing. /s /rant How many members does facebook have? Up until this day I have yet to see a list with all of their names and adresses. So how is the public supposed to know where to go spend their bitcoin right now, hmmm? Just wander around aimlessly until they bump up against one of these tens of thousands of merchants? I get what you're trying to say, but these days everybody sueing everybody for the smallest little thing imagineable... If some merchant wants to scream from the rooftops they accept bitcoin, they can, but it's not BitPay or Coinbase their job.
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esse83
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April 10, 2015, 12:22:05 PM |
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3d MACD red on finex edit: Oh and price is lower than it was 2 years ago! Bullish? Ohhh u bet!
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Hunyadi
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April 10, 2015, 12:28:52 PM |
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3d MACD red on finex edit: Oh and price is lower than it was 2 years ago! Bullish? Ohhh u bet! That's amazing
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JorgeStolfi
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April 10, 2015, 12:32:35 PM |
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why good news always bad for price ?
Well, there is a simple explanation: the price is still largely set by the Chinese day-traders, and they don't care for PayPal, Dell, Coinbase, GBTC, Rakuten, the Bitcoin Bowl, ... They only care about PBoC and other local stuff. Sometimes, some overblown rumors in the West manage to lift the price by 50$ or so. That happened with the "Microsoft will accept bitcoin" rumor, and the Coinbase "to the moon" pre-opening drama. But that is it. So it is not that "good news are bad for the price", but the price is simply dropping, ignoring those news.
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luckygenough56
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April 10, 2015, 12:33:40 PM |
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Torque
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April 10, 2015, 12:37:08 PM |
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why good news always bad for price ?
Well, there is a simple explanation: the price is still largely set by the Chinese day-traders, and they don't care for PayPal, Dell, Coinbase, GBTC, Rakuten, the Bitcoin Bowl, ... They only care about PBoC and other local stuff. Sometimes, some overblown rumors in the West manage to lift the price by 50$ or so. That happened with the "Microsoft will accept bitcoin" rumor, and the Coinbase "to the moon" pre-opening drama. But that is it. So it is not that "good news are bad for the price", but the price is simply dropping, ignoring those news. Well if your theory is true, then I guess we all just have to wait around until China has some amazing bitcoin related news that they DO care about, or they just lose their minds (again) and start a new buying frenzy.
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gentlemand
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April 10, 2015, 12:38:02 PM |
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3d MACD red on finex edit: Oh and price is lower than it was 2 years ago! Bullish? Ohhh u bet! That's amazing So the moment has finally come. It's about time the the TA, trendlines and 'wisdom' accrued up to 2014 was pissed all over. If this market was a couple of centuries old all that stuff might count for something. As it stands it's all being made up as we go along and it's good to have a reminder of that.
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fonsie
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April 10, 2015, 12:40:40 PM |
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why good news always bad for price ?
Well, there is a simple explanation: the price is still largely set by the Chinese day-traders, and they don't care for PayPal, Dell, Coinbase, GBTC, Rakuten, the Bitcoin Bowl, ... They only care about PBoC and other local stuff. Sometimes, some overblown rumors in the West manage to lift the price by 50$ or so. That happened with the "Microsoft will accept bitcoin" rumor, and the Coinbase "to the moon" pre-opening drama. But that is it. So it is not that "good news are bad for the price", but the price is simply dropping, ignoring those news. Well if your theory is true, then I guess we all just have to wait around until China has some amazing bitcoin related news that they DO care about, or they just lose their minds (again) and start a new buying frenzy. Gotta love those cute chinese people, mining all those bitcoin with their cheap electricity and giving them away for cheap. All of this after having paid top notch dollars in 2013.
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noobtrader
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April 10, 2015, 12:43:37 PM |
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why good news always bad for price ?
The most basic explanation would be: Manipulators and whale traders predict a buy pressure to start soon after everyone learns about the news, so they're trying to quickly dump and create artificial sell pressure to buy what they can before the next pump. If you look at how this small dump is moving you'll notice that it's really slow with a lot of coins being bought back. yes i notice that after big sell usually there are big buy, and when there are lack of volume suddenly dump...
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Sitarow
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April 10, 2015, 12:44:35 PM |
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12345mm
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April 10, 2015, 12:45:28 PM |
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... don't understand the point of rapidly destroying price and consistently causing so much price volatility that bitcoin will never be widely adopted as a result ... who cares if you have more of something when you're actively decimating the price of the thing and driving people away from it in droves ? ... seriously ... it's like the whale manipulators don't want anyone else to have any coins period and don't care how badly the price needs to be crushed to accomplish this ... the market cannot sustain several $5-$10-$20-$50 drops daily forever ... finex being pummeled the worst at the moment ...
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JorgeStolfi
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April 10, 2015, 12:47:26 PM |
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What's worse is that 2014 was all this great merchant adoption news --- Expedia! Microsoft! Dell! Overstock!
Now this 2015 year so far, what do we have announced? Rakuten! (yay, but nobody cares) PayPal integration! (yay, but nobody cares, old news).
And that's pretty much it. We were promised BIG retailers would just keep rolling in, like Amazon, Starbucks, Target, Walmart, etc. Still haven't seen shit.
Coinbase claims to supposedly have 39,000 merchants integrated (according to their website). 39,000! So where's the fkn list, Coinbase? Can't we see who's on the damn list? Are you guys so ashamed of the merchants on this list that we the public can't even know about them?
And I'm sure with BitPay it's the same, a bunch of merchants integrated that we know fk all about.
Great marketing guys, great marketing. /s /rant
Indeed, the lack of reliable data about the bitcoin economy must be one thing holding back serious investors. There is only one publicly traded bitcoin company that I know of: DigitalBTC from Australia. They are the only company whose finances can be examined and trusted, because it has to publish audited financial reports at least once a year. All the others -- such as Coinbase, Bitpay, Cirle, Blockchain.info, and all the exchanges and miners -- are privately funded, and so they don't have to release any figures (or can release misleading figures, if not outright lies). BitPay claims to have over 100'000 merchants, and you say that Coinbase claims 39'000. Those numbers may well be nominally correct, although there seem to be many merchants that sign up with those companies but do not actually use them because of lack of PoS equipment or untrained cashiers. Moreover, some of Coinbase's merchants may be former BitPay clients. But the really important numbers are the volume of e-payments that those companies process, and how much of that is real e-commerce (as opposed to miners paying bills, or other "overhead" traffic. The companies have refused to reveal those numbers with the excuse that they are "strategic trade secrets" or whatever. I have seen some evidence that BitPay's processing volume has been nearly constant for most of 2014, and some of it may have been stolen by Coinbase and other new processors.
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bananaControl
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April 10, 2015, 12:48:24 PM |
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it's like the whale manipulators don't want anyone else to have any coins period and don't care how badly the price needs to be crushed to accomplish this ... the market cannot sustain several $5-$10-$20-$50 drops daily forever
Of course they don't give a flying fuck about bitcoin they just want to milk it as much as they possibly can, that's the free market for ya.
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AirFlame
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April 10, 2015, 12:48:44 PM |
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Expic example of stupid people that read GAW news. And think omg sell sell sell, bitcoin worth nothing, end of the world... Idiots...
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only
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April 10, 2015, 12:50:28 PM |
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bananaControl
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April 10, 2015, 12:52:28 PM |
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Expic example of stupid people that read GAW news. And think omg sell sell sell, bitcoin worth nothing, end of the world... Idiots...
At least that sort of mass panic will make it look like TA is more than just astrology for markets.
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JorgeStolfi
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April 10, 2015, 12:53:32 PM |
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Gotta love those cute chinese people, mining all those bitcoin with their cheap electricity and giving them away for cheap. All of this after having paid top notch dollars in 2013.
Yes, they must be feeling pretty stupid now. Speaking of which, are there any news about @FriedCat, the Chinese owner of AMHash/ASICminer who disappeared a few weeks ago? EDIT: However, the Chinese paid CNY for the coins in 2013, and it is not clear whether the sellers were able to get those CNY out of the country and convert them to dollars. My estimate is that the Chinese traders and investors must have bought a couple million BTC from the West in 2013, including the coins stolen by Willy from MtGOX clients. If the average price they paid was 500 $/BTC, that meant 6 billion CNY (1 billion USD) trying to leave the country, in exchange for the (unauthorized) import of that bunch of nothings. No wonder the PBoC got so upset.
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Tzupy
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April 10, 2015, 12:54:20 PM |
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Good morning, ladies! 1d and 3d MACD divergence turned red, while the MACD themselves are negative, this is going to seriously hurt the bulls. Moving averages diverge all the time, which is all MACD really is, calculating the difference between two lines and turning it into momentum. Seems like a shakeout to me. Volume has been steadily declining as we are nearing the end of the trading range, similar to Dec 2014. The difference then is that we had the Bitstamp hack to bring in sellers to push us lower. If there's enough volume to get below $235, see you there. It's happening...
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LFC_Bitcoin
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April 10, 2015, 12:57:38 PM |
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And it gets worse. Embarrassing.
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