wachtwoord
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April 16, 2014, 12:08:06 AM |
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repost of my own chart reflecting the uptrend after the downtrend in the summer of 2013 SNIP
if we follow it exactly, we will see a small correction from 540 to 440 USD, very soon!
This would mean ATH in October?
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rudius
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April 16, 2014, 12:08:14 AM |
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Actually the dollar was still pretty strong in the 70s. It was in the 80s where the dollar started losing strength, especially with coming of "the rock star" Greenspan. It's funny how most of the critics of the dollar are actually ultra-liberal who like the ideas of maximum freedom in markets and the private sector in general. While it was exactly that thing that started to weaken the dollar. Greenspan was the type of guy who really wanted for people to like him. He set the rules that dictated low interest rates and low regulations, where the private sector didn't have much responsibility anymore. Take as many risks as you want and do it however you want, and if things won't work out then there will be a bail-out. It's not hard to see why Greenspan was very popular among the private sector and was considered as the man of the people during the height of his reign ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) His ultra-liberal views presumed, that people are generally decent at heart and wouldn't exploit the freedom that is given to them. It's funny because most of the bitcoin enthusiasts here share the same ultra-liberal world view, while being critics of the Fed at the same time ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) After Greenspan there came Bernanke and he was just Greenspan vol.2, having no balls or vision to do anything differently. Most of the regular folks who read a lot of conspiracy theory books, think that those in power are these evil geniuses with complex plans. The joke is that actually most of them are just schmucks with avarage intelligence and who got their power or money through inheritance. The main thing that they work on, is the act that they actually have a clue on what they're doing. And most of them actually like those conspiracy books that make them sound like scary evil geniuses ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) It's like the same with Freemasons, the biggest secret they have is that actually there is no secret ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) All smoke and mirrors, so people would stay humble and submissive. First, that was nixon that condemned the dollar with deconnecting it from gold. He couldn t do otherwise because they had printed so many dollars that they couldn t reimbourse country that wanted to have gold for dollar. Second, Greenspan was doing what bankers ask from him. that s why they put him here. Bernanke wasn t a greenspan v2! He is one of the people who had the best studied the 1929 crises and the united states have already decided to give a try to free money. Again he did what bankers asked him to do. Third, ultra liberal doesn t mean to give all power to bankers. It s all about what people choose as a whole. We have to let the invisible hand of the market adjust absurd situations. (4 times more dollar since 2008 is just grotesk)
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fr33d0miz3r
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April 16, 2014, 12:09:34 AM |
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if we follow it exactly, we will see a small correction from 540 to 440 USD, very soon!
That small correction was a 200-day EMA support test. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fwww.tradingview.com%2Fx%2FchA9KepM%2F&t=665&c=qhLUddwdCYov6w) Right now 200 EMA is at 534, so after breaking it we'll test its support. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fwww.tradingview.com%2Fx%2F2nUMpEKe%2F&t=665&c=gWHBfODHH8eJWg)
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p0peji
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April 16, 2014, 12:10:59 AM |
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Pff right now I have to keep on shortin the market .... ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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JayJuanGee
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April 16, 2014, 12:12:42 AM |
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You can't have winners without losers...
Only true in a zero-sum game. More generally, you can't have competition without relative losers. Correct. My money is still sitting in my trading account, so I am only a relative loser. Considering my initial buy-in price I am still doing rather well. Trading is not a zero sum game. Both parties feel they are better off or the trade would not take place. I agree with you here. However, you said the exact opposite a few times when you were being the cocky rendition of yourself.... I personally prefer the more reasonable version... but I am just one person... ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
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chessnut
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April 16, 2014, 12:16:10 AM |
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Pff right now I have to keep on shortin the market .... ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) Im doing a special deal on shorts right now. buy one, and get one free!
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JayJuanGee
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April 16, 2014, 12:18:31 AM |
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Goxish behavior spotted. Pump on your favorite manipulative exchange(Gox, Huobi), dump at the same time on Stamp. Repeat. This has been seen in the last weeks of Gox.
you must be getting close to the end of your Bitcoin bashing internship?
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jonoiv
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April 16, 2014, 12:18:53 AM |
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Newfeeling
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April 16, 2014, 12:20:36 AM |
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DAT 153 BTC DUMP
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wachtwoord
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April 16, 2014, 12:21:45 AM |
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First, that was nixon that condemned the dollar with deconnecting it from gold.
Nixon only put the final nail in the coffin. Condemning the Dollar had started on 31 January 1934 by Roosevelt.
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JayJuanGee
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April 16, 2014, 12:34:32 AM |
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You have to love all these butthurt bears in denial
hehehehehe.... I predict that they will stay in denial forever.. even when we are at $10k or above... However, in this round, they are probably gonna keep suggesting that we are still on a downtrend.. maybe until we get to about $800.. .. which should be reasonably doable in the next few weeks...
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edwardspitz
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April 16, 2014, 12:39:15 AM |
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That is what I call erratic trading ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) bitcoinaverage.com is down. Look at OKCoin. lol. I did my last round of buys at the top (almost). Jesus what a day ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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JayJuanGee
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April 16, 2014, 12:43:00 AM |
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you are right, one aspect nevertheless: there could be a successor to bitcoin in its current form ... then it's clear that everyone will jump ship. i think, quite a few of those who have "missed" bitcoin so far think, that they'll simply wait for this new incarnation and hold back their investment.
That would be ill-advised: Bitcoin is likely to be the best or only way to get into the successor, or at the very least, the best or only way to get into it early on. Also, cross that bridge if we get there. for the time being, bitcoin is the cadillac of crypto currencies... (It's just an expression.. well I mean back when cadillac was the shit)
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JayJuanGee
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April 16, 2014, 12:48:07 AM |
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Also every day there are 3,600 new freshly mined bitcoins, and part of them are sold to pay electricity bills, try to recover money invested on the miner, investing on more mining power or present/future panickers.
That means it is needed up to $1.5 million daily deposits to maintain the price stable. (Actually less because some will hold no matter what, so you can guess something like 25%-50% of $1.5 million)
I would put it this way: Only about $0.5 million of the daily bitcoins generation enters the market. Of that, the following are interested: 20 G20 countries 50 midsize countries 70 small countries 70 very small countries 500 billionaires 10,000 100-millionaires 1 million 10-millionaires 30 million millionaires 500 large corporations 500,000 midsize corporations 500 million Europeans with <1M net worth 300 million N. Americans -..- 300 million S. Americans -..- 200 million ex-Soviet -..- 1,700 million in Indian peninsula 1,600 million in China 1 billion in other parts of Asia 500 million more in Asia 1 million existing bitcoin investors thinking it is cheap It is mathematically certain that everybody cannot get many bitcoins. The list above included so many entities that it is certain that some of them realize that acting before others is an advantage, like any one reading this has realized. Then they start to want the bitcoins, and as the daily interest exceeds $0.5 million, the price starts to rise. Bitcoin will fail due to its natural scarce nature. It WILL not work: -as mean of transaction -store of value If the technology is so unique and outstanding, the scarce nature Will ultimately destroy it. The value will be zero. Wake up!!!!!!! Seems that you are the one that needs to be woken up.. b/c scarcity is essential to BTC's value.. and Bitcoin is infinitely divisible, as well (even though currently only divided into 100million subparts - Satoshis)
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wachtwoord
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April 16, 2014, 12:48:31 AM |
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you are right, one aspect nevertheless: there could be a successor to bitcoin in its current form ... then it's clear that everyone will jump ship. i think, quite a few of those who have "missed" bitcoin so far think, that they'll simply wait for this new incarnation and hold back their investment.
That would be ill-advised: Bitcoin is likely to be the best or only way to get into the successor, or at the very least, the best or only way to get into it early on. We've been trading shiny rocks and sea shells for thousands of years before crypto currency was discovered and they are going to wait for it's successor? Okay ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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chessnut
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April 16, 2014, 12:58:55 AM |
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I would put it this way:
Only about $0.5 million of the daily bitcoins generation enters the market. Of that, the following are interested:
20 G20 countries 50 midsize countries 70 small countries 70 very small countries 500 billionaires 10,000 100-millionaires 1 million 10-millionaires 30 million millionaires 500 large corporations 500,000 midsize corporations 500 million Europeans with <1M net worth 300 million N. Americans -..- 300 million S. Americans -..- 200 million ex-Soviet -..- 1,700 million in Indian peninsula 1,600 million in China 1 billion in other parts of Asia 500 million more in Asia 1 million existing bitcoin investors thinking it is cheap
It is mathematically certain that everybody cannot get many bitcoins. The list above included so many entities that it is certain that some of them realize that acting before others is an advantage, like any one reading this has realized. Then they start to want the bitcoins, and as the daily interest exceeds $0.5 million, the price starts to rise.
I think Im going to save this and print it out and put it in a frame so that I can see it when I go to bed holding leveraged long Bitcoins ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) I thought there were only 12 million millionaires in the world, but I am very wrong. that must be in America alone. ... I heard there are 1500 billionaires in the world, net worth something like 30 trln...... so much money.
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ChartBuddy
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April 16, 2014, 01:00:17 AM |
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JayJuanGee
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April 16, 2014, 01:06:17 AM Last edit: April 16, 2014, 01:33:28 AM by JayJuanGee |
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It seems so recent that all the talk was about BTC gravitating repeatedly towards $666...we need to get back to there ![Shocked](https://bitcointalk.org/Smileys/default/shocked.gif) I agree... and that $666 pricepoint felt low at the time... ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
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chessnut
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April 16, 2014, 01:06:48 AM |
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![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fs27.postimg.org%2Ftlxhe7j37%2Fexpgr.png&t=665&c=UqtxHkG5zmkWTQ) this is trending with exponential growth!
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JayJuanGee
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April 16, 2014, 01:10:37 AM |
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China appears to be sleeping so US markets are having trouble trying to rally.. lol
Let China sleep... forever ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) I 've had it with their news and exchanges Niothor: I have read a lot of your comments... and mostly I agree with a lot of what you say. Could you explain the cute bear avatar? What is such a bull like you doing with a bear like that?
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