Hfleer
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August 18, 2013, 05:44:40 PM |
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Just really range bound lately. Would like to see it pick a direction.
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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BrightAnarchist
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Activity: 853
Merit: 1000
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August 19, 2013, 12:20:58 AM |
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Just really range bound lately. Would like to see it pick a direction.
I don't know what's going to happen with Bitcoin but the stock and bond markets are toast. Major top with huge divergence in the A/D line. Get ready guys... crash season is coming (September/October/November)  |
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Wekkel
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Activity: 3108
Merit: 1531
yes
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August 19, 2013, 05:10:23 AM |
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Price behaviour showing some pretty erratic behavior now. It simply is not allowed to decrease.
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lebing
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Activity: 1288
Merit: 1000
Enabling the maximal migration
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August 19, 2013, 06:49:11 AM |
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well, looks like the direction was picked  |
Bro, do you even blockchain?
-E Voorhees
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siulynot
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Activity: 1274
Merit: 1000
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August 19, 2013, 10:48:57 AM |
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IMO we reached a midterm top
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thefiniteidea
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August 19, 2013, 11:03:18 AM |
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Yeah, I'm not buying this 30k rally on Mt. Gox.
More like people leaving Gox to sell elsewhere. - speculation
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masterluc (OP)
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Activity: 938
Merit: 1013
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August 19, 2013, 09:27:07 PM |
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SPX broke down ma50  |
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smoothie
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Activity: 2492
Merit: 1473
LEALANA Bitcoin Grim Reaper
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August 19, 2013, 10:25:40 PM |
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Yeah, I'm not buying this 30k rally on Mt. Gox.
More like people leaving Gox to sell elsewhere. - speculation
This is my belief mainly due to the lack of follow through of buying on all other exchanges in any meaningful manner. |
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| . ★☆ WWW.LEALANA.COM My PGP fingerprint is A764D833. History of Monero development Visualization ★☆ .
LEALANA BITCOIN GRIM REAPER SILVER COINS.
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samurai1200
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August 19, 2013, 10:33:28 PM |
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Yeah, I'm not buying this 30k rally on Mt. Gox.
More like people leaving Gox to sell elsewhere. - speculation
This is my belief mainly due to the lack of follow through of buying on all other exchanges in any meaningful manner. +1 here. price gap only growing wider. |
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Pruden
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August 19, 2013, 10:39:12 PM |
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Yeah, I'm not buying this 30k rally on Mt. Gox.
More like people leaving Gox to sell elsewhere. - speculation
This is my belief mainly due to the lack of follow through of buying on all other exchanges in any meaningful manner. +1 here. price gap only growing wider. MtGox has more volume these days than the other exchanges combined, which disagrees with the exchange migration hypothesis. Furthermore, if you see the Bitstamp charts the trend looks pretty healthy by itself, with unwavering volume since the July bottom. Therefore, the Bitstamp price looks solid to me. |
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samurai1200
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August 20, 2013, 03:41:16 AM |
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...
MtGox has more volume these days than the other exchanges combined, which disagrees with the exchange migration hypothesis. Furthermore, if you see the Bitstamp charts the trend looks pretty healthy by itself, with unwavering volume since the July bottom. Therefore, the Bitstamp price looks solid to me.
For the most part, I agree with you. But as a sanity check, consider this scenario: Tomorrow, without warning, MTGox closes down trading operations indefinitely, with a press release saying all trading is halted and all users are asked to initiate withdrawals of BTC and fiat. Do you think that in all that panic, BitStamp's price won't go down? Logically, it should go UP, as people with orders at Gox would now want to place them at BitStamp/others, but I get the feeling the panic sellers would be doing what they do best. My intuition tells me that we'd see some weird panic-sell price falloff for a few days, and then in the same amount of time, a return to somewhere around the daily SMA200 (currently $88.63 on BitStamp). Ever since the beginning of this year, ~$100/BTC has "felt" like a fair price to me, FWIW. I'm not a giant forex or btc trader, but an avid follower of the markets, at least. |
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molecular
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August 20, 2013, 09:43:35 AM |
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MtGox has more volume these days than the other exchanges combined, which disagrees with the exchange migration hypothesis. Furthermore, if you see the Bitstamp charts the trend looks pretty healthy by itself, with unwavering volume since the July bottom. Therefore, the Bitstamp price looks solid to me. [/quote] Doesn't necessarily disagree with the hypothesis. It might just be intensifying migration.
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PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
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SkRRJyTC
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Activity: 1008
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August 20, 2013, 10:49:54 PM |
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Ever since the beginning of this year, ~$100/BTC has "felt" like a fair price to me, FWIW.
Me too. Feels exactly like it did during the period of time my friends coined as '$5 forever'.... It was during this time that I bought all of my friends BTC.... |
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masterluc (OP)
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August 21, 2013, 12:32:21 AM |
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In a case of bearish wedge triggering (need to break 101.65 to confirm):  |
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MAbtc
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August 21, 2013, 12:37:29 AM |
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In a case of bearish wedge triggering (need to break 101.65 to confirm): Ahhh, that's what I like to see. This is what I've bet on.  |
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masterluc (OP)
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August 21, 2013, 12:42:47 AM |
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This wedge clears out the count I have. Tripple zigzag perfectly fits here.  |
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Pruden
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August 21, 2013, 10:25:27 AM |
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MtGox has more volume these days than the other exchanges combined, which disagrees with the exchange migration hypothesis. Furthermore, if you see the Bitstamp charts the trend looks pretty healthy by itself, with unwavering volume since the July bottom. Therefore, the Bitstamp price looks solid to me.
Doesn't necessarily disagree with the hypothesis. It might just be intensifying migration. Hey, you were right. You know who's migrating to Bitstamp? 2k BTC buy-whales (level up from the 1k whales we first saw when the MtGox problems started). In consequence, the price is crashing upwards. Anyway, the bid side in MtGox is becoming exhausted, I will keep a close watch for the next 24 hours. |
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masterluc (OP)
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August 21, 2013, 06:20:02 PM |
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masterluc (OP)
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August 27, 2013, 12:17:03 AM |
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Eh?  |
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