Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[JayJuanGee]

This forum reminds me of the GTAT forum (until Monday). The posts -- with almost a religious devotion -- claiming that GTAT was going to be huge soon because of Apple, and that investors were getting in early and were going to strike it rich soon. But alas, it failed, and the pigs got slaughtered.

I know most people here are first time investors and they think bitcoin is awesome technology or what not, and that's why they have to make all the comparisons with the Internet, the telephone or whatever when they describe bitcoin. It's a way to delude themselves into thinking that bitcoin is much bigger than it really is. Why is Wall Street not buying bitcoin, the currency? Because it's overhyped. They can see right through it, and they're staying out, and only investing some VC to extract potential value out of some of the start ups surrounding it.

Guys, I hate to be a wet blanket, but take a look at some of the stories on the GTAT forums, people got burned... bad. Lots of stories about losing years of savings. I know you'll all claim "this is money I can lose" because you're telling yourselves that there's no way bitcoin is going to zero. People said the same thing for GTAT. Like Warren Buffett said, when the tide goes out, we'll see who was swimming naked. I suspect a lot of you are swimming naked right now.

Be careful out there. I don't want to see the stories of people losing their retirement savings, or losing all the money that was earmarked for their disabled children or what not. Sadly, I know it's going to happen though.

You sure are so wise for being a newbie... Probably guys here are sending you PMs and asking you what to do, too?

Banned again by bitcoin high priests for being a heretic. You do realize they don't ban people on the gold forums or any other investment for being bearish, no? Like I said, this place is faith based, and that is why it will fail... no fundamentals to back it up.

Did you know the user base of bitcoin is smaller than the frequent flyer club of Kuwaiti airlines? Bitcoin has been around for almost 6 years and nobody out there is interested. It's all faith based and controlled primarily by whales. The whales are your God (OK, so it's polytheistic.)

Market moves however they decide. Eventually they will pull the plug on the believers, and we're going back to single digit dollars.

I agree with most of your post, but you are really wasting your time here, I have been warning these hopeless cultists for months and they've always trashed me, a better thing to do would be trading against them and rip  the shit out of them while they are still enthusiastic. maybe they will learn a lesson (short the shit out of Bitcoin).

When the bubble burst most of them will disappear, but this doesn't mean Bitcoin will die because only then the real growth will start happening (without 90% of this cultists that you see today)

Widsdom has entered!!!!!!!!!!!     

[Boxman90]

Lol I love when people say cheap coins. It's only cheap if you bought higher, ain't it?

Oh lawd, +1 internet for you, sir!

[adamstgBit]

2K wall at 360

DOOM!

Edit: wall pulled...

[razorramon]

loads of fake asks just been pulled on Stamp and Finex

and "textbook bull trap"

please explain for non traders like me so I can understand what you guys are referring to! Thanks!

...bear trap...you'll see

[riiiiising]

Why are you people still selling?? Fundamentals have not changed at all! Are the weak hands really shaken that easily? So stupid.

[bahamapascal]

I can also confirm that you can deposit, withdraw and trade btc without verification. Verification is required for Fiat ($) deposits and withdraws only.
Note ther always is the possibility that they change there policy without beforhand anouncing that (like Bitstamp did), though I (personaly) guess that is unlikly at this point of time.

That's how I got burned by Gox.

I had an unverified account, moved 50 coins there after I'd missed the opportunity to make a quick profit on the easily anticipated panic following the sale of Satoshi Dice, and then decided to move them back to paper in August after realizing that Bitcoin was ready to skyrocket and worrying about Gox's fiat withdrawal problems spreading to bitcoins.

Imagine my dismay when they wouldn't let me withdraw my coins without verification since I didn't have any identification. By the time I got ID to send them, they claimed I'd already withdrawn my coins in September. Of course I submitted a ticket but communication was sporadic and consisted mainly of stalling and BS and even that ended by December. By January Gox was dead and all I have left of my BTC50 is a tiny piece of a class action suit.

Paper is the only safe place to keep your coins. Exchanges are very risky.

Never accountered problems to withdraw BTC an mtgx, even though I was not veriefied. As a matter of a fact I even made a support ticket asking if they had limits for withdrawing Bitcoins from an unverified accoun, and there answer was "no".
Maybe a bug coused your withdraw problems...

Well any ways, I to was trapt at Gox. Just wehn I decided to withdraw my btc the problem startet...I was one of the vere very first who accountered the "strange" withdraw problem.
Well I lost 75 BTC...made them with investing in alt coins and daytrading, lost them on gox.

[Mickeyb]

Why are you people still selling?? Fundamentals have not changed at all! Are the weak hands really shaken that easily? So stupid.

Something fishy is happening last few weeks!!

[Boxman90]

Why are you people still selling?? Fundamentals have not changed at all! Are the weak hands really shaken that easily? So stupid.

1) Putting your life savings in BTC and hope to get rich with maximum risk of losing it all
2) Observe the market and play with the flow, taking profits regularly, manage risk, and having a steady income

Pick one. I'm pretty sure about which strategy actual successful traders choose.

[kireinaha]

Why are you people still selling?? Fundamentals have not changed at all! Are the weak hands really shaken that easily? So stupid.

[BBmmBB]

Why are you people still selling?? Fundamentals have not changed at all! Are the weak hands really shaken that easily? So stupid.

Something fishy is happening last few weeks!!

exante -eom-

[gnode]

Why are you people still selling?? Fundamentals have not changed at all! Are the weak hands really shaken that easily? So stupid.

Something fishy is happening last few weeks!!

Nobody believes me but the answer is simple. Hal Finney's coins are being sold!

[fonzie]

Why are you people still selling?? Fundamentals have not changed at all! Are the weak hands really shaken that easily? So stupid.

Something fishy is happening last few weeks!!

Nobody believes me but the answer is simple. Hal Finney's coins are being sold!

I don´t believe you.

[gnode]

Why are you people still selling?? Fundamentals have not changed at all! Are the weak hands really shaken that easily? So stupid.

Something fishy is happening last few weeks!!

Nobody believes me but the answer is simple. Hal Finney's coins are being sold!

I don´t believe you.

Yes I know.

[ChartBuddy]

Explanation

[hyphymikey]

So our buyer runs the price up to $395, puts most of his coins at $400 to stop the train from running away. Then dumps 10% of what he bought today to bring the price down to $350. Now he waits for more fiat to arrive. Crazy how easy it is for one person to move the market this easy with no fight back.

[criptix]

I hope.he can bring it down to 330 thats my next target 

[klee]

What a day and week!

[esse83]

Alrighty folks! Asks have been manifactured to get another pointless fakeout going, better get on board and dump before 395. You'll see..

[fonzie]

Finex actin batshit crazy. It seems like everyone is sellin/buyin his whole stash all the time.

[fonzie]

And the asks are gone... Lol. 
At least BTC isn´t boring anymore.