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Tirapon (OP)
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August 20, 2013, 08:37:51 AM |
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My guess - price goes up.
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monkeybars
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August 20, 2013, 08:46:01 AM |
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I think it's partly behind the recent 7% rise
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Tirapon (OP)
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August 20, 2013, 08:48:05 AM |
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Yeah that's my assumption - I saw a post a day ago or so about it, but I've been waiting for a bit more confirmation after the whole Thailand thing. From what I've read, however, I think this one's legit. Bitcoins is not classified as e-money or a foreign currency, the Finance Ministry said in a statement, but is rather a financial instrument under German banking rules. It is more akin to "private money" that can be used in "multilateral clearing circles", the Ministry said.
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MAbtc
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August 20, 2013, 06:46:50 PM |
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No effect. As in, it won't keep the price from dropping.
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superduh
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August 20, 2013, 06:50:18 PM
Last edit: August 20, 2013, 07:55:46 PM by superduh |
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germany invades greece. wait, what are we speculating about?  edited* |
ok
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Tirapon (OP)
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August 20, 2013, 07:06:49 PM |
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No effect. As in, it won't keep the price from dropping.
Why are you expecting price to drop? I expected this to be pretty significant news from a speculative viewpoint, my immediate reaction was that this would definitely be good for the price. But nobody seems to be discussing it? I was hoping for some insight from you knowledgeable folk on the speculation board! |
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MAbtc
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August 20, 2013, 07:15:44 PM |
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No effect. As in, it won't keep the price from dropping.
Why are you expecting price to drop? I expected this to be pretty significant news from a speculative viewpoint, my immediate reaction was that this would definitely be good for the price. But nobody seems to be discussing it? I was hoping for some insight from you knowledgeable folk on the speculation board! I'm not knowledgeable.  It's not particularly significant news, and I think this was to some extent already expected. I think we have seen a significant loss in upward momentum and are due for reversal to sub-100 support levels. |
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NamelessOne
Legendary
 Offline
Activity: 840
Merit: 1000
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August 20, 2013, 07:40:44 PM |
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No effect. As in, it won't keep the price from dropping.
Why are you expecting price to drop? I expected this to be pretty significant news from a speculative viewpoint, my immediate reaction was that this would definitely be good for the price. But nobody seems to be discussing it? I was hoping for some insight from you knowledgeable folk on the speculation board! I'm not knowledgeable. It's not particularly significant news, and I think this was to some extent already expected. I think we have seen a significant loss in upward momentum and are due for reversal to sub-100 support levels. Where is this loss of momentum? We've been nothing but up for 2 months. And just jumped up 10$ in value but day and a half ago. The momentum is gaining as far as I can (and others) see. |
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NewLiberty
Legendary
Offline
Activity: 1204
Merit: 1002
Gresham's Lawyer
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August 20, 2013, 07:51:10 PM |
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No effect. As in, it won't keep the price from dropping.
Why are you expecting price to drop? I expected this to be pretty significant news from a speculative viewpoint, my immediate reaction was that this would definitely be good for the price. But nobody seems to be discussing it? I was hoping for some insight from you knowledgeable folk on the speculation board! I'm not knowledgeable. It's not particularly significant news, and I think this was to some extent already expected. I think we have seen a significant loss in upward momentum and are due for reversal to sub-100 support levels. Where is this loss of momentum? We've been nothing but up for 2 months. And just jumped up 10$ in value but day and a half ago. The momentum is gaining as far as I can (and others) see. This is not so much news as it is a significant "mention". In PR terms, that is positive, as it generates many following mentions. The News here was the capital gains tax rule in Germany for miners. That is news with an effect. Calling bitcoin a unit of account, or a currency, or a frog's pelt is just putting labels on it without changing anything, but the rule does have a financial effect. It might be interesting to track the number of mentions, and the number of accurate mentions as a percentage of mentions to see how much of the general population's attention we have. |
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ElectricMucus
Legendary
Offline
Activity: 1666
Merit: 1057
Marketing manager - GO MP
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August 20, 2013, 08:12:16 PM |
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FYI the is a) pretty old news and b) not recognition as such, just an informal response to an inquiry regarding the legal status of Bitcoin.
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600watt
Legendary
Offline
Activity: 2338
Merit: 2106
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August 20, 2013, 08:26:21 PM |
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No effect. As in, it won't keep the price from dropping.
Why are you expecting price to drop? I expected this to be pretty significant news from a speculative viewpoint, my immediate reaction was that this would definitely be good for the price. But nobody seems to be discussing it? I was hoping for some insight from you knowledgeable folk on the speculation board! i noticed the same when i posted this in this forum. the average journalist seems more exited about it than this forum. the german government acknowledges bitcoin while other governments are attacking it. i like it. it is -after all - the first governmental acknowledgment at all. and the german government is not exactly a progressive body. if it would have been informal it wouldn´t appear in all newspapers. |
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ElectricMucus
Legendary
Offline
Activity: 1666
Merit: 1057
Marketing manager - GO MP
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August 20, 2013, 08:28:44 PM |
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if it would have been informal it wouldn´t appear in all newspapers.
Did you actually read the articles? It says just that. |
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600watt
Legendary
Offline
Activity: 2338
Merit: 2106
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August 20, 2013, 08:32:34 PM |
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if it would have been informal it wouldn´t appear in all newspapers.
Did you actually read the articles? It says just that. no, i only look at the pictures |
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MAbtc
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August 20, 2013, 08:35:33 PM |
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No effect. As in, it won't keep the price from dropping.
Why are you expecting price to drop? I expected this to be pretty significant news from a speculative viewpoint, my immediate reaction was that this would definitely be good for the price. But nobody seems to be discussing it? I was hoping for some insight from you knowledgeable folk on the speculation board! I'm not knowledgeable. It's not particularly significant news, and I think this was to some extent already expected. I think we have seen a significant loss in upward momentum and are due for reversal to sub-100 support levels. Where is this loss of momentum? We've been nothing but up for 2 months. And just jumped up 10$ in value but day and a half ago. The momentum is gaining as far as I can (and others) see. What does "we've been nothing but up" have to do with momentum? A $10 rise in value... or $5 (Bitstamp)? Looking at the daily chart, this rise from 65 is a bearish wedge on dropping volume. Looking at resistances, a shift into negative momentum makes sense. Waiting for the triple top on hourly to confirm. But I don't think we see 130, nor do I think we can break 125 on any volume. Certainly, the last thing I see is that momentum is gaining. (Shrug) See you on the order book. |
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