Guys, you should not buy in such a hurry

[qikaifu]

The price is rising from 14 to 14.7 in a hour.

Just hold on, those one with vulnerable faith to the bitcoin will like to sell you at a lower price. just hold at the 14 bucks, don't try to push the price up. They will get impatient and sold you at a lower price. we solid believers don't have to buy the bitcoins at a high price! Be patient! Just hold an open order around 12 to 14, those scared people sell it to you at these prices!

Just speculating.

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[Piper67]

Just hold on, those one with vulnerable faith to the bitcoin will like to sell you at a lower price. just hold at the 14 bucks, don't try to push the price up. They will get impatient and sold you at a lower price. we solid believers don't have to buy the bitcoins at a high price! Just hold an open order around 12 to 14, those scared people sell it to you at these prices!

Just speculating.

Or, they won't, the price will go much higher than 15, and you'll be left holding an open order between 12 and 14... if the price is going up, it's because there are people out there who want btc... really that simple.

[qikaifu]

Just hold on, those one with vulnerable faith to the bitcoin will like to sell you at a lower price. just hold at the 14 bucks, don't try to push the price up. They will get impatient and sold you at a lower price. we solid believers don't have to buy the bitcoins at a high price! Just hold an open order around 12 to 14, those scared people sell it to you at these prices!

Just speculating.

Or, they won't, the price will go much higher than 15, and you'll be left holding an open order between 12 and 14... if the price is going up, it's because there are people out there who want btc... really that simple.

well, that's what people who is buying now thinks, I guess. If I'm more manipulative, I won't even hold an open bid order, and just hold a open ask order, trying to make the price down. We all know that lots of people with vulnerable faith just came in for a quick profit. we should not let them win such a easy lottery. Let them sell back the bitcoin to us at a low price!

I guess we should just withdraw the open bid order, let those people who subconsciously like to sell be scared, and do their SELL SELL SELL job!

[cypherdoc]

Just hold on, those one with vulnerable faith to the bitcoin will like to sell you at a lower price. just hold at the 14 bucks, don't try to push the price up. They will get impatient and sold you at a lower price. we solid believers don't have to buy the bitcoins at a high price! Just hold an open order around 12 to 14, those scared people sell it to you at these prices!

Just speculating.

Or, they won't, the price will go much higher than 15, and you'll be left holding an open order between 12 and 14... if the price is going up, it's because there are people out there who want btc... really that simple.

well, that's what people who is buying now thinks, I guess. If I'm more manipulative, I won't even hold an open bid order, and just hold a open ask order, trying to make the price down. We all know that lots of people with vulnerable faith just came in for a quick profit. we should not let them win such a easy lottery. Let them sell back the bitcoin to us at a low price!

I guess we should just withdraw the open bid order, let those people who subconsciously like to sell be scared, and do their SELL SELL SELL job!

LOL, will you  get left behind!?

[qikaifu]

Everybody, trust me, if we push the price high too soon, it will be dangerous for the bitcoin community. those people who want to get profit fast will cash out their profit very fast, and it's not good for the bitcoin. If we push the price up like fast like 100% in 3 days, it will get us another crash.

Everybody who is solid believe in bitcoin, we should not buy now, just hold our fiat money, and force those people who don't really believe in bitcoin sell at low price!!

[joulesbeef]

you actually see panicky people who are not used to trading at all.

a guy was on here the other day complaining he bought at 16 and sold the other day when it dropped to 11.. he sold at 13. But he was freaking out that he might lose the entire 16, so he got out. When a market like bitcoin is going to have wild fluctuation at times, you cant just panic on drops. Try to figure out why it is dropping, if you ant figure out why i is dropping then hold on to it, cause most likely the drop is temp.

[qikaifu]

you actually see panicky people who are not used to trading at all.

a guy was on here the other day complaining he bought at 16 and sold the other day when it dropped to 11.. he sold at 13. But he was freaking out that he might lose the entire 16, so he got out. When a market like bitcoin is going to have wild fluctuation at times, you cant just panic on drops. Try to figure out why it is dropping, if you ant figure out why i is dropping then hold on to it, cause most likely the drop is temp.

Ok, people panic always. they panic to sell and panic to buy. The latter one is what's going on right now.

[cypherdoc]

if you don't buy now, you'll never get another chance.  the trend has turned and we are headed for new highs.

you're doling out bad advice.

[qikaifu]

the trend has turned and we are headed for new highs.

you're doling out bad advice.

I'm actually not very good at technical  analysis. Would you please explain it in detail. Thanks in advance.

but I still think it's bad for us to push the price now. those stupid panicky didn't all get out.

[cypherdoc]

the trend has turned and we are headed for new highs.

you're doling out bad advice.

I'm actually not very good at technical  analysis. Would you please explain it in detail. Thanks in advance.

but I still think it's bad for us to push the price now. those stupid panicky didn't all get out.

go to the RALLY thread and see my technical analysis starting a few days ago.

your reasoning is specious as well.  one could just as easily argue that another price breakout would re-energize btc's credibility and acceptance worldwide and HELP adoption especially after the news hits we've taken in the last month.  and i personally believe the long term equilibrium price of btc will be in the thousands so buy now.

[phillipsjk]

When the price of Bitcoin was rapidly climbing from $3 to $30 USD, I started valuing Bitcoin at the 30 day weighted average price (right hand side). The possibly flawed assumption is that better reflects the fundamental value of bitcoin than the peaks and valleys.

Currently, the 30 Day price is listed at $17.69  USD/BTC. IMO, anything less than that is a good price if you are buying for the medium-long term. Keep in mind that the 30 Day price won't predict any fundamental problems with the currency that may cause the value to drop to 0. Conversely, it won't predict a long-term price adjustment; there will be a 30 day lag.

[thinkingBTC]

to be honest this recent rally seems 100% artificial to me.... just happened way to quick and in a stepping pattern. I was watching the order book live and will tell you there was no 'real' rally, just somebody trying to push the market up to thier large sell order, then dropping the sell order and uping up $0.10 until the peak.Notice as soon as the price jumped there was always a buyer with 100-300BTC locking in the high price.  

I'm guessing it'll drop back to 14 soon enough, after this guy pulls off his sell

[cypherdoc]

When the price of Bitcoin was rapidly climbing from $3 to $30 USD, I started valuing Bitcoin at the 30 day weighted average price (right hand side). The possibly flawed assumption is that better reflects the fundamental value of bitcoin than the peaks and valleys.

Currently, the 30 Day price is listed at $17.69  USD/BTC. IMO, anything less than that is a good price if you are buying for the medium-long term. Keep in mind that the 30 Day price won't predict any fundamental problems with the currency that may cause the value to drop to 0. Conversely, it won't predict a long-term price adjustment; there will be a 30 day lag.

the problem is you can use an infinite number of measures of so called value; VWAP is another one that comes to mind.  i see in my stock trading program at least a hundred different ways of doing this.  ALL FUTILE! and i should know having tried many out.

trading is tough; currencies are no different than stocks.  sometimes you just have to believe...

[phillipsjk]

My dad whom doesn't think I should touch Bitcoin with a 10ft pole has told me as much.

I figure with the size of investment I plan to make, it will pay for itself after only about 10 transactions. (Paying by mail has high transaction costs). If it goes up astronomically in a year or two, that would just be a bonus.

Edit: I was under the impression currency trading was riskier than stock trading

[cypherdoc]

My dad whom doesn't think I should touch Bitcoin with a 10ft pole has told me as much.

I figure with the size of investment I plan to make, it will pay for itself after only about 10 transactions. (Paying by mail has high transaction costs). If it goes up astronomically in a year or two, that would just be a bonus.

i'm a Dad too.  but does yours understand computers and whats happening with the Internet?  not to mention understanding money.

[phillipsjk]

Yes. He used to to be an investment consultant.

I think he is concerned that the market is very easy to manipulate with less than $300Million in value.

[cypherdoc]

My dad whom doesn't think I should touch Bitcoin with a 10ft pole has told me as much.

I figure with the size of investment I plan to make, it will pay for itself after only about 10 transactions. (Paying by mail has high transaction costs). If it goes up astronomically in a year or two, that would just be a bonus.

Edit: I was under the impression currency trading was riskier than stock trading

only if you use leverage.

certainly you need to listen to your Dad.  but most financial experts have gotten the last 11 yrs very wrong.

i'm a Boomer but i think the young ones have got this one right and am going with them this time around.  i just know that they aren't gonna put up with this BS the Boomers are trying to shove down their throats (namely debt servitude).

[BitcoinPorn]

http://www.reddit.com/r/Bitcoin/comments/ijmei/its_that_time_again_friday_at_mtgox/

[cypherdoc]

Yes. He used to to be an investment consultant.

I think he is concerned that the market is very easy to manipulate with less than $300Million in value.

surely it will be more volatile due to the scarcity of btc's and the immaturity of the currency.

but w/o the derivatives (puts, calls, short selling)  i don't see how it can be manipulated effectively. 

[aeroSpike]

Everybody, trust me,

Why should we trust you? You don't give any reasons why.