chessnut
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Activity: 924
Merit: 1001
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April 07, 2014, 08:04:55 AM |
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Price will slowly grind down and never ever recover again. 1000$ was just a hoax.
Ohk hmm guess I should sell then. thanks for tip.  |
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JayJuanGee
Legendary
 Online
Activity: 3710
Merit: 10209
Self-Custody is a right. Say no to"Non-custodial"
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April 07, 2014, 08:06:33 AM |
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Everyone thinks we're due for a rally now and most people's reasoning includes that there has been a rally every 9 months. "It has happened 4 times, and now it will happen again", right? Well, if you look at a one week candle chart, and you look at the rsi, you will see a divergence in this last rally, indicating that the trend is over. This could be seen all the way back in December.
I thought that rallies were coming less than 9 months apart.. and we were expecting the next one to take place sooner.. though maybe it will take 9 months.. maybe a year... and maybe we will go below $400... I think that it would take stagnation for quite a while here (maybe a month) in the mid $400s to maybe cause enough pressure to get us below $400... NOT saying it is impossible.. but I am somewhat with Chestnut and KFR and Seleme.. and maybe a few other "brainwashed" bulls.. he he he.. in thinking that it is quite unlikely.. even though possible..... but seems like we could get some upward departure at any moment... .. I even have a hard time seeing us get below $430.. b/c it just does NOT seem to wanna go back down there in the last couple of days - including that this should have taken place over the weekend, if it were going to take place. |
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thefunkybits
Legendary
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Activity: 1218
Merit: 1000
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April 07, 2014, 08:11:44 AM |
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Everyone thinks we're due for a rally now and most people's reasoning includes that there has been a rally every 9 months. "It has happened 4 times, and now it will happen again", right?
I thought that rallies were coming less than 9 months apart.. Bitcoin rallies in a fractal pattern of bull flags, TERA you of all people know this. If we are to follow the exponential trendline the top of the next "bubble" will be reached in June-August and we should have long passed bottom. Black swan events have been extending this downtrend but honey badger may or may not give a fuck  |
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JayJuanGee
Legendary
Online
Activity: 3710
Merit: 10209
Self-Custody is a right. Say no to"Non-custodial"
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April 07, 2014, 08:11:47 AM |
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Especially when those people learn that such scams keep occurring, the lost bitcoins dollars are never recovered, and no one gets punished.
Sounds like Wall Street and modern banking. Lotsa folks continuing to invest there. Well, perhaps you are right about big banks and high finance. But many smaller fish have been sent to jail for securities fraud and related crimes. Madoff is in jail, some 25 people related to the Enron and Worldcom scandals were found guilty of criminal charges and some or all went to jail, .... Perhaps MtGOX can be equated to Lehmann Bros and declared "too big to jail". But people who stole 1/10 as much should not deserve that privilege. EDIT: typos Figuring out who is jailed or NOT is far from over... they may have trouble getting Karpeles to appear in the USA.. and then if he does will he be detained.. Maybe he would be, and for that reason, if he has counsel, they probably would be advising him NOT to show up in the USA.... .. And Shrem is really being screwed with and the SRoads guy is in jail, no? They are much more likely to be tough on the bitcoiners, it seems as compared to these cadre of connected wallstreet peeps...... some of the wallstreet peeps go to jail, but there are way too many examples of them NOT going to jail for way larger stealing of various public investor moneys. |
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chessnut
Legendary
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Activity: 924
Merit: 1001
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April 07, 2014, 08:13:49 AM |
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holy shit boys....500 BTC sell wall on BFX eaten!
Keep walkin' bears. nothing to see here! |
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fonzie
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April 07, 2014, 08:17:56 AM |
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holy shit boys....500 BTC sell wall on BFX eaten!
Seller buys his own ask wall in one bit, to enleash bullish sentiment, puts a few small asks (20-40 BTC) up afterwards that are bought from the "pigs" . Useful strategy in a low volume market when someone wants to get rid of coins. |
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JayJuanGee
Legendary
Online
Activity: 3710
Merit: 10209
Self-Custody is a right. Say no to"Non-custodial"
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April 07, 2014, 08:24:11 AM |
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Why are there only two cases and why do you believe that a downwards move from here is the end of bitcoin? It could very well recover in some years time.
I said - the speculative weight will bring it down. all the capital is speculative. 99%. if this asset is not performing in 6 months time, the crash will self perpetuate to zero. by then investors could afford to replace it with a new coin. google could pounce on the opportunity, for example. Ripple (although inferior) might hold the fort until bitcoin is dead. Currently, there is NO real replacement for bitcoin, and Bitcoin is NOT going to zero any time in the next couple years.. absent some major bug... The mere fact that there may be some issues with China and some other countries interfering with bitcoin will not be enough to push bitcoin down that much.. and.. even in these bearish case scenarios.. maybe we will get some downward trajectory for a more extended period.. but we gotta have some real additional negative news to really drive BTC down into sustainable double digits territory... .... .. Anyhow, those very negative bearish scenarios seem way too speculative given the current strength of the network building and various strength of bitcoin fundamentals and also the fact that some governments, including the US government have NOT really yet gone on any kind of meaningful attack on bitcoin.. yet.... |
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fonzie
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April 07, 2014, 08:29:20 AM |
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How long before the next news from China(bank account ban) are official will whales start to sale? 1-2 hours?
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chessnut
Legendary
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Activity: 924
Merit: 1001
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April 07, 2014, 08:29:34 AM |
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Currently, there is NO real replacement for bitcoin, and Bitcoin is NOT going to zero any time in the next couple years.. absent some major bug... The mere fact that there may be some issues with China and some other countries interfering with bitcoin will not be enough to push bitcoin down that much.. and.. even in these bearish case scenarios.. maybe we will get some downward trajectory for a more extended period.. but we gotta have some real additional negative news to really drive BTC down into sustainable double digits territory... .... ..
Anyhow, those very negative bearish scenarios seem way too speculative given the current strength of the network building and various strength of bitcoin fundamentals and also the fact that some governments, including the US government have NOT really yet gone on any kind of meaningful attack on bitcoin.. yet....
I agree 100%, though I was discussing a hypothetical bear scenario. "what if the price is a MtGox hoax" but it's not. The chinese pushed the price to a genuine high. |
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JayJuanGee
Legendary
Online
Activity: 3710
Merit: 10209
Self-Custody is a right. Say no to"Non-custodial"
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April 07, 2014, 08:29:36 AM |
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Just my BTC0.00000002
I wished that we could fix these decimal places.. it is too complicated to count 8-ish decimal places. For some reason, my brain starts to swim after about 4 decimal places. |
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dreamspark
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April 07, 2014, 08:30:12 AM |
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holy shit boys....500 BTC sell wall on BFX eaten!
Seller buys his own ask wall in one bit, to enleash bullish sentiment, puts a few small asks (20-40 BTC) up afterwards that are bought from the "pigs" . Useful strategy in a low volume market when someone wants to get rid of coins. And loses a few thousand in fees, hardly worth it really... |
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chessnut
Legendary
Offline
Activity: 924
Merit: 1001
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April 07, 2014, 08:30:52 AM |
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How long before the next news from China(bank account ban) are official will whales start to sale? 1-2 hours?
Nope. It's holiday in China today, and they are going to sleep soon. you will be squeezed before the next announcement. |
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dreamspark
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April 07, 2014, 08:31:56 AM |
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Just my BTC0.00000002
I wished that we could fix these decimal places.. it is too complicated to count 8-ish decimal places. For some reason, my brain starts to swim after about 4 decimal places. This will always be a problem and one of the reason people like names to refer to the smaller denominations. All the decimal places is not in line with human readability and it is painful to try and do any sort of calculation off the cuff with so many decimal places. There's a reason we only use two decimal places in most situations. |
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JayJuanGee
Legendary
Online
Activity: 3710
Merit: 10209
Self-Custody is a right. Say no to"Non-custodial"
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April 07, 2014, 08:32:20 AM |
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bulls and bears in despair.. while the hodlers debate how many coins a stash really needs  cheerio carry on market, carry on. I would like to get to about 100 BTC.. . b/c currently, I only have about 50BTC... Of course, more would be even better, but it is NOT easy to keep setting this money aside.. .. at least for mere mortals, which currently, I am claiming to be a mere mortal. |
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dreamspark
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April 07, 2014, 08:32:40 AM |
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Mmmm fresh fiat on Stamp and no China news to hold todays rally back could be an interesting day.
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Zule
Member
Offline
Activity: 84
Merit: 10
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April 07, 2014, 08:33:48 AM |
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holy shit boys....500 BTC sell wall on BFX eaten!
Seller buys his own ask wall in one bit, to enleash bullish sentiment, puts a few small asks (20-40 BTC) up afterwards that are bought from the "pigs" . Useful strategy in a low volume market when someone wants to get rid of coins. And loses a few thousand in fees, hardly worth it really... Im afraid fonzie is right about this, it happends, i saw it few times. Guessing some have special fee discounts, close to zero type, esp on stamp, Ive seen same amount traded back and forth several times back and forth. |
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koryu
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April 07, 2014, 08:34:30 AM |
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just wanted to throw in that we see a recovery on ltc/btc right now, also the ltc volume in china is kinda high compared to btc volume. additionally the ltc difficulty has reached a new ath.
was it just about time? And is this also bullish for btc because when people believe in altcoins they first have to believe in bitcoin and that the worst is over now?
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fonzie
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April 07, 2014, 08:34:45 AM |
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Does anyone honestly think that no more bad news will come out of China?
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mooncake
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April 07, 2014, 08:37:06 AM |
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I would like to get to about 100 BTC.. . b/c currently, I only have about 50BTC... Of course, more would be even better, but it is NOT easy to keep setting this money aside.. .. at least for mere mortals, which currently, I am claiming to be a mere mortal.
50 BTC is enough to move down the price by 5 USD. |
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MahaRamana
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April 07, 2014, 08:37:26 AM |
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Just my BTC0.00000002
I wished that we could fix these decimal places.. it is too complicated to count 8-ish decimal places. For some reason, my brain starts to swim after about 4 decimal places. I agree it's very unconvenient. This is why we use separators for numbers with many digits : 9,000,000.045 - to improve readability. We should move the decimal at least 3 digits further : 2.18 BTC = 1 USD |
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