slap
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June 15, 2016, 04:23:02 PM Last edit: June 15, 2016, 04:34:14 PM by slap |
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GoldmanSux denied China yesterday from entering the MSI. Last time they were engrish about that and Chinese stocks collapsed. Might happen again. Sooo engrish. And ofcourse we have the Brexit still pending. The halvening hype and last but not least the pending implosion of the financial world as we know it. Good times (meh)
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adamstgBit
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June 15, 2016, 04:32:56 PM |
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toknormal
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June 15, 2016, 04:44:54 PM Last edit: June 15, 2016, 05:00:43 PM by toknormal |
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Refuelling proceeding smoothly at all ranges. 75% complete. Traders finishing off sandwiches and juice and slowly returning to posts in attack formation.
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chesthing
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June 15, 2016, 04:55:38 PM |
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G'damn Ethereum shills gtfo. If you are looking for suckers to keep your sinking ship afloat just continue spamming the altcoin section.
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savetherainforest
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June 15, 2016, 05:08:28 PM |
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I think them Huobi bulls managed to catch them bears in a full on retarded trap of swirling death. The spiral of death keeps flowing.
And the West seems very confident to follow Huobi without hesitation on the bullish side with almost no opposition from the Western bears ... Dow Jones seems to be falling from the tip of the iceberg for some days now, so.. The West has money, they just need some China confidence to keep the spread gap tightly closed.
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Paashaas
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June 15, 2016, 05:16:50 PM |
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Its About Sharing
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June 15, 2016, 05:19:49 PM |
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I enjoy following the bitcoinchannel.com buy. I can read candlesticks fairly well but was never much into looking at the market strength (buys and sells) as a whole - I know, bad, partial picture but the candlesticks and a few indicators always did me well. Anyway, looking at the market on clarkmoody's site: Looking for that 100k volume on the buy and sell side - It just moved off $70 on the buy to $65 (a bit bearish). The sell side is on $220 at 100k - keep an eye on that. Total sales have been creeping up since post crash (I don't have the exact dates as have been following it only a couple of times a week.) Some key figures on the buy and sell side ($70 buy and $300 sell) show that more sellers are coming in at those levels and the buyers are dropping. It is not a huge number so I tend to agree with the bitcoinchannel.com guy that short term things look bearish. Nothing that would make me sell my long term stash. Can anyone add anything here as it's the part I'm still learning... IAS Ah yes, the memories of "The WALL", lol. Wouldn't it be nice to go back in time and buy BTC at $65??? Oh, and when I found it at .50 (cents), I couldn't find a place to buy some. eheheh Memory lane...
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European Central Bank
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June 15, 2016, 05:26:36 PM |
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Oh, and when I found it at .50 (cents), I couldn't find a place to buy some. eheheh Memory lane... What were your options around then? I thought there was always the OTC channel and the new liberty standard place. Maybe it was gone by then. I dunno.
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Its About Sharing
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June 15, 2016, 05:30:00 PM |
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Oh, and when I found it at .50 (cents), I couldn't find a place to buy some. eheheh Memory lane... What were your options around then? I thought there was always the OTC channel and the new liberty standard place. Maybe it was gone by then. I dunno. I should preface that by saying I hadn't yet read the white paper. I was going off intuition to be honest. I was not into Crytpo before that (just trading and computer work). So, I did a few searches and it just seemed like a lot of work, wasn't sure about wiring money to GOX. And then the price was at $1 and I thought "How can a digital money be equal to a dollar?" LOL So, my ignorance "cost" me but that white paper made a light go off in my head. Before that moment I was a relatively early internet employee during the bubble. At that time I saw the internet as a big old Black Swann. When I came across that white paper, I saw it as a Black Swann on steroids. Its about sharing
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Syke
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June 15, 2016, 05:35:16 PM |
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And then the price was at $1 and I thought "How can a digital money be equal to a dollar?" LOL
Few people remember reaching "parity". That was pretty epic. Now look where we are, and we're nowhere near the top. Someone getting in now is still an early-adopter.
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keats3
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June 15, 2016, 05:35:59 PM |
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Oh, and when I found it at .50 (cents), I couldn't find a place to buy some. eheheh Memory lane... What were your options around then? I thought there was always the OTC channel and the new liberty standard place. Maybe it was gone by then. I dunno. I should preface that by saying I hadn't yet read the white paper. I was going off intuition to be honest. I was not into Crytpo before that (just trading and computer work). So, I did a few searches and it just seemed like a lot of work, wasn't sure about wiring money to GOX. And then the price was at $1 and I thought "How can a digital money be equal to a dollar?" LOL So, my ignorance "cost" me but that white paper made a light go off in my head. Before that moment I was a relatively early internet employee during the bubble. At that time I saw the internet as a big old Black Swann. When I came across that white paper, I saw it as a Black Swann on steroids. Its about sharing If I recall correctly there was a massive dump back down to .50 (cents) after it rallied to $2, so you might have panicked and dumped for less than you paid for if you had bought at one dollar. Nobody could have dreamed these prices were possible back then.
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Spaceman_Spiff
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June 15, 2016, 05:37:07 PM |
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Oh, and when I found it at .50 (cents), I couldn't find a place to buy some. eheheh Memory lane... What were your options around then? I thought there was always the OTC channel and the new liberty standard place. Maybe it was gone by then. I dunno. I should preface that by saying I hadn't yet read the white paper. I was going off intuition to be honest. I was not into Crytpo before that (just trading and computer work). So, I did a few searches and it just seemed like a lot of work, wasn't sure about wiring money to GOX. And then the price was at $1 and I thought "How can a digital money be equal to a dollar?" LOL So, my ignorance "cost" me but that white paper made a light go off in my head. Before that moment I was a relatively early internet employee during the bubble. At that time I saw the internet as a big old Black Swann. When I came across that white paper, I saw it as a Black Swann on steroids. Its about sharing Seems quite often that when people encounter bitcoin for the first time, they think it sounds too good to be true, and they come up with a reason why it won't work. A few years later, when they encounter it again, they are more likely to go for it. That promises for the next bubble given the widespread media coverage in 2013 . I am still bearish for the very short term (next day or 2) though.
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JayJuanGee
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Self-Custody is a right. Say no to"Non-custodial"
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June 15, 2016, 05:41:35 PM |
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Oh, and when I found it at .50 (cents), I couldn't find a place to buy some. eheheh Memory lane... What were your options around then? I thought there was always the OTC channel and the new liberty standard place. Maybe it was gone by then. I dunno. My have times changed in the past couple of years, especially.. NOT only are there a multitude of ways in and out in the west, there are a lot of less developed locations that have a multitude of ways in and out, as well, and even in the place that don't have a lot of options there are more and more Local bitcoin avenues developing and even possibilities for direct transactions at bitcoin meet-ups - because a broader segment of the population (no where near mass adoption) are holding BTC through wallet apps such as blockchain.info... and Bitcoin ATMs have proliferated pretty well, too (even though their rates may be a bit higher - frequently a 5% to 10% premium from my understanding)
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Its About Sharing
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June 15, 2016, 05:42:56 PM |
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And then the price was at $1 and I thought "How can a digital money be equal to a dollar?" LOL
Few people remember reaching "parity". That was pretty epic. Now look where we are, and we're nowhere near the top. Someone getting in now is still an early-adopter. I totally agree with you regarding "early adopter". But why? AT $700? Because if BTC isn't made illegal or the like, I just can't see it NOT being a FIAT vacuum cleaner. I think the event horizon for BTC is in the months. We really can't see past that. If a country adopts BTC or the like (even as only a reserve currency), it will be over $10,000 in a heartbeat. If the Chinese don't let up on buying and the government doesn't let up on capital controls and inflation, it is at $10,000. On and on, there are just so many HUGE variables that make people buying into Bitcoin at $700, early-adopters.
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Its About Sharing
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June 15, 2016, 05:46:52 PM |
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Oh, and when I found it at .50 (cents), I couldn't find a place to buy some. eheheh Memory lane... What were your options around then? I thought there was always the OTC channel and the new liberty standard place. Maybe it was gone by then. I dunno. I should preface that by saying I hadn't yet read the white paper. I was going off intuition to be honest. I was not into Crytpo before that (just trading and computer work). So, I did a few searches and it just seemed like a lot of work, wasn't sure about wiring money to GOX. And then the price was at $1 and I thought "How can a digital money be equal to a dollar?" LOL So, my ignorance "cost" me but that white paper made a light go off in my head. Before that moment I was a relatively early internet employee during the bubble. At that time I saw the internet as a big old Black Swann. When I came across that white paper, I saw it as a Black Swann on steroids. Its about sharing Seems quite often that when people encounter bitcoin for the first time, they think it sounds too good to be true, and they come up with a reason why it won't work. A few years later, when they encounter it again, they are more likely to go for it. That promises for the next bubble given the widespread media coverage in 2013 . I am still bearish for the very short term (next day or 2) though. Yeah, Black Swan's are hard to spot. The internet might have been a lot easier to see. I mean the internet was freedom of information and Bitcoin is a step in the direction of freedom with value transfer. It isn't THE answer, but a step in the right direction. If we see $10,000 per BTC this year, I would not at all be shocked. The strange thing is, due to my background in computer science, I get to talk to quite a few relatively intelligent IT guys. 95% of them just don't get it. They understand tech but they can't wrap their heads around it. Trading stocks gave me another perspective and I find that stock traders might take a chance on BTC for obvious reasons, but understanding it is not one of them. And these same people who wouldn't buy at $200 because it was too high, won't buy at $10,000 just like they won't buy now. It is almost like there is a stop sign in that part of the brain.
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Spaceman_Spiff
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June 15, 2016, 05:52:11 PM |
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Yeah, Black Swan's are hard to spot. The internet might have been a lot easier to see. I mean the internet was freedom of information and Bitcoin is a step in the direction of freedom with value transfer. It isn't THE answer, but a step in the right direction.
If we see $10,000 per BTC this year, I would not at all be shocked.
The strange thing is, due to my background in computer science, I get to talk to quite a few relatively intelligent IT guys. 95% of them just don't get it. They understand tech but they can't wrap their heads around it. Trading stocks gave me another perspective and I find that stock traders might take a chance on BTC for obvious reasons, but understanding it is not one of them.
And these same people who wouldn't buy at $200 because it was too high, won't buy at $10,000 just like they won't buy now. It is almost like there is a stop sign in that part of the brain.
Yeah, not that many people that like new technologies and have an understanding of the money system. Plus, people hang on to what is "normal" to them. Luckily, the longer bitcoin exists and is mentioned in the news or by relatives, the more "normal" it will become for them.
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JimboToronto
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June 15, 2016, 05:57:45 PM |
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Oh, and when I found it at .50 (cents), I couldn't find a place to buy some.
I hear you. I came later when they were $15. By the time I'd read up and determined they weren't a scam they were $30 but I couldn't find a place to buy some. By the time I did, I paid $68 (CAD) per. Best money I ever spent though.
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toknormal
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June 15, 2016, 05:59:07 PM |
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I just can't see it NOT being a FIAT vacuum cleaner. Don't worry, I don't think Bitcoin will ever be a "fiat vacum cleaner". Think of it this way.... There are 2 general types of "money" needed by advanced economies. 1 type that keeps prices stable (for trading) and one type that keeps the supply fixed (for store of value). The one that keeps prices stable is simply a way to denominate trades - it isn't actually "money" in the sense of being a bearer token like commodities, precious metals or cryptocurrencies. On many websites now you can even choose how to denominate your trade - Canadian Dollars, $USD, EUR, whatever. Those trading currencies need to have a variable supply - like the USD. A fractional reserve system which inflates and contracts according to liquidity requirements. If you don't have that and use a fixed supply currency like Bitcoin for trading then half the businesses in the world will go bust and the other half will make supernormal profits which are not sustainable. So I don't see bitcoin ever being used as a trading currency en masse. (You don't see prices ever being denominated in gold and neither did we when there was a gold standard). Bitcoin is a base asset which can be used to "back" trading currencies for example or facilitate the capitalisation of whatever markets, but I think prices will still continue to be denominated in prevailing regional currencies.
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Spaceman_Spiff
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June 15, 2016, 06:05:59 PM |
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I just can't see it NOT being a FIAT vacuum cleaner. Don't worry, I don't think Bitcoin will ever be a "fiat vacum cleaner". Think of it this way.... There are 2 general types of "money" needed by advanced economies. 1 type that keeps prices stable (for trading) and one type that keeps the supply fixed (for store of value). The one that keeps prices stable is simply a way to denominate trades - it isn't actually "money" in the sense of being a bearer token like commodities, precious metals or cryptocurrencies. On many websites now you can even choose how to denominate your trade - Canadian Dollars, $USD, EUR, whatever. Those trading currencies need to have a variable supply - like the USD. A fractional reserve system which inflates and contracts according to liquidity requirements. If you don't have that and use a fixed supply currency like Bitcoin for trading then half the businesses in the world will go bust and the other half will make supernormal profits which are not sustainable. So I don't see bitcoin ever being used as a trading currency en masse. (You don't see prices ever being denominated in gold and neither did we when there was a gold standard). Bitcoin is a base asset which can be used to "back" trading currencies for example or facilitate the capitalisation of whatever markets, but I think prices will still continue to be denominated in prevailing regional currencies. Why would someone buy USD when BTC is ubiquitously used in the future, because they want their currency to depreciate to gain stability? That makes no sense. Bitcoin will be stable (non-volatile) enough for commerce.
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adamstgBit
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June 15, 2016, 06:12:51 PM |
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Oh, and when I found it at .50 (cents), I couldn't find a place to buy some. eheheh Memory lane... What were your options around then? I thought there was always the OTC channel and the new liberty standard place. Maybe it was gone by then. I dunno. I should preface that by saying I hadn't yet read the white paper. I was going off intuition to be honest. I was not into Crytpo before that (just trading and computer work). So, I did a few searches and it just seemed like a lot of work, wasn't sure about wiring money to GOX. And then the price was at $1 and I thought "How can a digital money be equal to a dollar?" LOL So, my ignorance "cost" me but that white paper made a light go off in my head. Before that moment I was a relatively early internet employee during the bubble. At that time I saw the internet as a big old Black Swann. When I came across that white paper, I saw it as a Black Swann on steroids. Its about sharing Seems quite often that when people encounter bitcoin for the first time, they think it sounds too good to be true, and they come up with a reason why it won't work. A few years later, when they encounter it again, they are more likely to go for it. That promises for the next bubble given the widespread media coverage in 2013 . I am still bearish for the very short term (next day or 2) though. Yeah, Black Swan's are hard to spot. The internet might have been a lot easier to see. I mean the internet was freedom of information and Bitcoin is a step in the direction of freedom with value transfer. It isn't THE answer, but a step in the right direction. If we see $10,000 per BTC this year, I would not at all be shocked. The strange thing is, due to my background in computer science, I get to talk to quite a few relatively intelligent IT guys. 95% of them just don't get it. They understand tech but they can't wrap their heads around it. Trading stocks gave me another perspective and I find that stock traders might take a chance on BTC for obvious reasons, but understanding it is not one of them. And these same people who wouldn't buy at $200 because it was too high, won't buy at $10,000 just like they won't buy now. It is almost like there is a stop sign in that part of the brain. its the normalcy bias at play. poeple have always used dollars to buy and sell shit you tell them bitcoin aims to displace the dollar, there normalcy bias kicks in and no amount of logic can convince them that things can and will change. i think its fairly obvious that things MUST change, its a technical impossibility that fiat and the USD will be the reserve currency for ever. but most poeple can't accept that, in their minds it has always been the USD and it always will be. they can understand and even appreciate the idea behind bitcoin, but they can't accept that it has any chance of being anything more than a fun experiment. their close mindedness will make them be part of the 99% that miss out being an early adapter. these people might encounter bitcoin has a form of payment for there next IT job. they will accept the job once they realize how easy it is to convert between BTC and Fiat. they might even start spending some BTC directly for some neweggs stuff sometimes. they might even see there BTC hodl value during a high inflation year ( -5% on the USD in 2017? maybe!) but STILL they will not believe BTC can displace their USD because their brain strongly believes that because somthing has always been it will always be.
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