ElectricMucus (OP)
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Merit: 1057
Marketing manager - GO MP
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September 10, 2013, 11:20:24 AM |
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r3wt
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September 10, 2013, 11:22:04 AM |
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who gives a fuck really. all that really matters is this: either the price will have to increase for mining to remain profitable, or hardware companies will have to drastically reduce their prices, else bitcoin will crash again. DAT LOGIC SON
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My negative trust rating is reflective of a personal vendetta by someone on default trust.
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seldon
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September 10, 2013, 11:32:28 AM |
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else bitcoin will crash again. DAT LOGIC SON
People stopping to buy mining rigs and buying btc directly will cause it to crash??
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r3wt
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September 10, 2013, 11:37:08 AM |
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else bitcoin will crash again. DAT LOGIC SON
People stopping to buy mining rigs and buying btc directly will cause it to crash?? reading comprehension
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My negative trust rating is reflective of a personal vendetta by someone on default trust.
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600watt
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Activity: 2338
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September 10, 2013, 12:11:39 PM |
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easy: fiat is in capitulation phase.
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Miz4r
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Merit: 1000
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September 10, 2013, 12:16:46 PM |
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We're still in the taking off phase if you look at the bigger picture. But there are always fractal patterns visible if you zoom in so you have various patterns within bigger patterns that look similar. But I don't think we'll see capitulation within this smaller time frame though, it will go up and down for a while but the time when bitcoins could be bought below $40-50 are over imo. Too many new people have come in, and too many old people are out who sold somewhere between $15 and $100 and are still in denial waiting for capitulation. We will see THEM capitulate and panic buy back in as we let go of the bubble anxiety and the price starts to rise above $170.
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Bitcoin = Gold on steroids
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Birdy
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September 10, 2013, 12:21:59 PM |
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It cannot be Return to normal as the graph would end up in negative value ^^ Also I don't think we saw Institutional Investors yet.
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NUFCrichard
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Merit: 1003
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September 10, 2013, 01:54:59 PM |
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I see everything from take off to fear, but then instead of following the plan to capitulation, it moved back up again! I assume you are saying that this move up is the "return to normal" (i.e. lets forget about the last 2 rises because it doesn't fit my chart), if so we are in for quite a fall!
I don't really believe in technical analysis too much, it seems excellent for looking back at what has happened, but a poor predictor of what will happen.
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HeliKopterBen
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September 10, 2013, 02:01:10 PM |
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The 2011 and 2013 crashes were part of the "takeoff" fractal. The "first selloff" and "bear trap" are coming but from much higher levels.
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Counterfeit: made in imitation of something else with intent to deceive: merriam-webster
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balanghai
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September 10, 2013, 02:12:10 PM |
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Great illustration there!
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phelix
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September 10, 2013, 02:16:46 PM |
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It cannot be Return to normal as the graph would end up in negative value ^^ Also I don't think we saw Institutional Investors yet.
Also we are still waiting for the "Public".
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rampantparanoia
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September 10, 2013, 02:56:51 PM |
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if gox hits $150 again, I'll definitely think "return to normal" - so that has my vote. At the moment, its a bull trap.
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RationalSpeculator
Sr. Member
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Merit: 250
This bull will try to shake you off. Hold tight!
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September 10, 2013, 03:04:06 PM Last edit: September 10, 2013, 03:15:20 PM by RationalSpeculator |
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We're still in the taking off phase if you look at the bigger picture. But there are always fractal patterns visible if you zoom in so you have various patterns within bigger patterns that look similar. But I don't think we'll see capitulation within this smaller time frame though, it will go up and down for a while but the time when bitcoins could be bought below $40-50 are over imo. Too many new people have come in, and too many old people are out who sold somewhere between $15 and $100 and are still in denial waiting for capitulation. We will see THEM capitulate and panic buy back in as we let go of the bubble anxiety and the price starts to rise above $170. Funny post EM I think Miz has it right here. This means, it will likely go down*, but indeed not below $40, and in the grand scheme of things we are still at early adopter phase so the big bubble where institutional investors and later the mass market participates will push it to much higher prices but only in a few years. *At least I hope it will go down or I'm *** EM same situation?
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balanghai
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September 10, 2013, 04:11:07 PM |
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Graph says, "I sold under $6 and need to rationalize."
Hahaha I think so too!
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Gabi
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If you want to walk on water, get out of the boat
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September 10, 2013, 04:13:07 PM |
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Omg we are in a bubble, buy buy buy, no sell sell sell
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David Rabahy
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September 10, 2013, 04:21:14 PM |
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*If* Bitcoin is a keeper technology for the human race then buy and never sell.
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Peter Lambert
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September 10, 2013, 04:45:00 PM |
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Look at it on a log scale, and you will see a very different picture. Also, remember that the rate of inflation halved last November. So the rise from January to April this year and the subsequent plateau closely resembles the rises from May to July 2012, and November 2011 to January 2012, and also the rise from April to June 2011 except that one had a steeper (downward sloping) plateau because of the higher rate of inflation.
In conclusion, therefore, we are not resembling the OP chart at all.
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Use CoinBR to trade bitcoin stocks: CoinBR.comThe best place for betting with bitcoin: BitBet.us
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johnyj
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Beyond Imagination
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September 10, 2013, 06:14:17 PM |
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For bitcoin the chart will always point upwards, due to limited supply of bitcoin and unlimited supply of fiat money, this chart is irrelevant
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