nrd525
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Activity: 1870
Merit: 1023
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August 18, 2014, 08:48:29 PM |
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Looks like BTC is 95% of the crypto-currency market in terms of market cap. Source: my rough adding of coinmarketcap.com
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Torque
Legendary
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Activity: 3822
Merit: 5504
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August 18, 2014, 08:49:14 PM |
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People who bought at the beginning of the year are now tired and fearful of this market. People who bought since mid- May are now tired and fearful of this market. So who's left to buy now?
It works both ways. At some point there will be nobody left to sell and plenty of buyers waiting with forks and knives. That's when it reverses. That's exactly what people were saying back in April, after the reversal. And look what has happened since? We're right back to where we were. Who's to say it can't happen again, a second time? |
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findftp
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Activity: 1022
Merit: 1012
Delusional crypto obsessionist
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August 18, 2014, 08:52:43 PM |
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You've got to wonder at this point who would be crazy enough to keep holding bitcoin. All signs point to a further cascade in price... to be holding right now you either need to be
A) delusional
B) Have no appreciation for the value of moneydollars
Damn it, I fit in both. |
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mmitech
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Activity: 1148
Merit: 1001
things you own end up owning you
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August 18, 2014, 08:52:51 PM |
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this really sucks man
wtf is this BS...
Manipulation Sheep Idiot sellers China  you forgot weak hands. |
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Nick No.1
Newbie
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Activity: 19
Merit: 0
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August 18, 2014, 08:53:01 PM |
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justusranvier
Legendary
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Activity: 1400
Merit: 1014
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August 18, 2014, 08:53:50 PM |
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Under those circumstances, yes he would be losing a fortune. Unrealized losses aren't real unless you make them real. Some people are just incredibly impatient. |
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mmitech
Legendary
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Activity: 1148
Merit: 1001
things you own end up owning you
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August 18, 2014, 08:54:24 PM |
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this catastrophic price movement (i am losing a fortune) The price now is what the price was in May, and about 4x what it was a year ago, and 40x what it was 2 years ago. What are you doing so wrong that you're losing a fortune under these circumstances? he is losing an opportunity to make a fortune, I think that is what he meant. |
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mmitech
Legendary
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Activity: 1148
Merit: 1001
things you own end up owning you
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August 18, 2014, 08:55:57 PM |
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at least you didnt register this account today. |
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Chuckee
Member
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Activity: 70
Merit: 10
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August 18, 2014, 08:56:01 PM |
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It's because in the whales' quest for margin call hunting (first Bitfinex, then BTC-e), they have effectively killed the market, killed off all confidence in it now. No sharp bounce from a local bottom like they expected, no strong support signal like we had in April. Completely reversing all the upward progress and momentum from mid- May.
People who bought at the beginning of the year are now tired and fearful of this market. People who bought since mid- May are now tired and fearful of this market. So who's left to buy now?
Looking at the charts, it looks a lot like 2011.
Post of the day. Mt. Gox is also part of the problem. Most people are unwilling to leave fiat on an exchange, so there is a 4 business day lag before new buying can start. Yeah, bullshit post of the day. There are no "whales" manipulating the market. It's third party payment processors like coinbase and bitpay liquidating their customer's coins, along with investors losing faith in the market. It's really that simple.. more sellers than buyers, along with ~3600 new coins minted EVERY.SINGLE.DAY. But because so many people here put their heart and souls into this technology, they need to believe that it was some kind of conspiracy working against them. Ridiculous. |
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seleme
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Activity: 2772
Merit: 1028
Duelbits.com
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August 18, 2014, 08:56:49 PM |
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We must hear some news soon, it's too strong selling without something behind it.
Btc-e is completely mental, 30$ below everyone.
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sidhujag
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Activity: 2044
Merit: 1005
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August 18, 2014, 08:57:59 PM |
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Theres more than a $20 premium on cavirtex.com (its lagging) happy arbing!
Bump currently a $50 arb... damn those canadians love them bitcoins.. not willing to sell! |
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adamstgBit
Legendary
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Activity: 1904
Merit: 1038
Trusted Bitcoiner
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August 18, 2014, 08:58:32 PM |
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We must hear some news soon, it's too strong selling without something behind it.
Btc-e is completely mental, 30$ below everyone.
0.01BTC says its goes something like "chain is banning bitcoin" |
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ChartBuddy
Legendary
 Online
Activity: 2604
Merit: 2292
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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August 18, 2014, 08:59:33 PM |
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dropt
Legendary
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Activity: 1512
Merit: 1000
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August 18, 2014, 09:00:03 PM |
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Wow, what an interesting revelation you've stumbled across. We've never seen that one before /sarcasm. Another noob account for the "list". I'm truely on a roll today. |
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adamstgBit
Legendary
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Activity: 1904
Merit: 1038
Trusted Bitcoiner
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August 18, 2014, 09:00:12 PM |
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Theres more than a $20 premium on cavirtex.com (its lagging) happy arbing!
Bump currently a $50 arb... damn those canadians love them bitcoins.. not willing to sell! nope. i just bought some @ 501.99 thinking of buying myself a souvenir of my stay here in bitcoin world  its to bad it had to end this way... |
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dropt
Legendary
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Activity: 1512
Merit: 1000
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August 18, 2014, 09:00:51 PM |
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Bump currently a $50 arb... damn those canadians love them bitcoins.. not willing to sell!
A $50 Arb to where? It's like you forgot about this thing called exchange rates. |
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Wandererfromthenorth
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August 18, 2014, 09:01:50 PM |
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at least you didnt register this account today. lol |
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Wandererfromthenorth
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August 18, 2014, 09:02:30 PM |
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We must hear some news soon, it's too strong selling without something behind it.
Btc-e is completely mental, 30$ below everyone.
Aren't alway below other exchanges there? |
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600watt
Legendary
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Activity: 2338
Merit: 2106
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August 18, 2014, 09:02:40 PM |
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this catastrophic price movement (i am losing a fortune) The price now is what the price was in May, and about 4x what it was a year ago, and 40x what it was 2 years ago. What are you doing so wrong that you're losing a fortune under these circumstances? correct. it was only virtual. bought way lower than 458, but it still hurts |
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