RALLY!

[N12]

Wow, always fun to look back.

[…] since we going to $15 for the conference.

Cool crystal ball you got there.

HAHAHHAHA THIS IS GOING TO BE EPIC !!

Seriously, some Bitcoiners are maniacs.

Some of these bears are depressive egocentric maniacs who dwell on destruction and panic. Let us be happy...

Do we have to counter it with exuberance of the exact opposite though? I’m bullish, but I like being realistic, and if you put in too much hope in what this conference can achieve for Bitcoin, you might be disappointed.

Though I really don’t see any fundamental that has changed to justify a rally. People still can’t actually utilize Bitcoin itself to store their weatlh because the client is terribly user-unfriendly (where’s wallet.dat, how do I encrypt it, etc.), and we’ve seen what this has done.

I have been reading up on some of the guests that will be attending at this event. Bruce seems to be doing an amazing job on the organizational front, and there seems to be people flying from all over the country(USA) and all over the world to be at this event.

There are big players that will be there to congregate, and all of the concerns that you mentioned above I believe will be discussed in full detail and addressed.

I am excited because there will be many smart people meeting with other people who have the funds to make a difference in this small Internet economy. It is a time for growth and prosperity for all, and while this my all be hard to believe I think we all crave it as human beings.

[1715333732]

1715333732

[FlipPro]

Wow, always fun to look back.

[…] since we going to $15 for the conference.

Cool crystal ball you got there.

HAHAHHAHA THIS IS GOING TO BE EPIC !!

Seriously, some Bitcoiners are maniacs.

Some of these bears are depressive egocentric maniacs who dwell on destruction and panic. Let us be happy...

Do we have to counter it with exuberance of the exact opposite though? I’m bullish, but I like being realistic, and if you put in too much hope in what this conference can achieve for Bitcoin, you might be disappointed.

Though I really don’t see any fundamental that has changed to justify a rally. People still can’t actually utilize Bitcoin itself to store their weatlh because the client is terribly user-unfriendly (where’s wallet.dat, how do I encrypt it, etc.), and we’ve seen what this has done.

I have been reading up on some of the guests that will be attending at this event. Bruce seems to be doing an amazing job on the organizational front, and there seems to be people flying from all over the country(USA) and all over the world to be at this event.

There are big players that will be there to congregate, and all of the concerns that you mentioned above I believe will be discussed in full detail and addressed.

I am excited because there will be many smart people meeting with other people who have the funds to make a difference in this small Internet economy. It is a time for growth and prosperity for all, and while this my all be hard to believe I think we all crave it as human beings.

Don't shoot the messenger.

P.S It was a success IMHO , just not the success many were hoping for.

[GoWest]

New 24hr high.  Figured it justified resurrecting this thread.

[Nagle]

New 24hr high.  Figured it justified resurrecting this thread.

Yes, the price went up from about $8.62 to a high of around $8.68 for around 15 minutes around 7 AM, then dropped briefly to around $8.35, and is currently around $8.58.

That's not a rally. That's a slow trading day.

[proudhon]

Bitcoin, y u no...

Ah, what's the use.

[N12]

New 24hr high.  Figured it justified resurrecting this thread.

Yes, the price went up from about $8.62 to a high of around $8.68 for around 15 minutes around 7 AM, then dropped briefly to around $8.35, and is currently around $8.58.

That's not a rally. That's a slow trading day.

Yeah, the volume ever since the end of the rally from 5.74 to 12 is ridiculously low. Bitcoin has lost its vitality and will probably need a new low that will hold to regain it in my view …

[mobodick]

[N12]

This trollface is hilarious.

[Minsc]

okay

[TraderTimm]

< snipped chart >

okay

Yes, Amazon has done quite well. Not sure how it is relevant, but there you go. Should be interesting to see what happens when CA taxes kick in next year.

[Bigpiggy01]

Time for a rebirth of this thread 

[NamelessOne]

While I wanted to buy in I didn't because this wasn't a real rally, just the manipulator buying 10000 BTC on once, putting up various walls that he then removed quickly when people starting selling to him.

[Technomage]

While I wanted to buy in I didn't because this wasn't a real rally, just the manipulator buying 10000 BTC on once, putting up various walls that he then removed quickly when people starting selling to him.

All the talk about "the manipulator" is silly. There is no one manipulator. What happened today could be a new investor simply buying coins for speculating, trading, investing long term... the fact is we don't know. I don't think it's a real rally yet either though, there will be a correction.

The volumes are incredible though. My prediction was that we'll see a rally of somekind with high volume next week but it happened already! Volume is over 100k and the price is currently at almost $7.

So even if this rally fades away and corrects, what I'm seeing here is a change of mindset and trend for the entire market. It's a good time to buy when it goes down again. At $7 it might not be a smart move because the rally will most likely have a correction and when it goes back to $5.xx, then it's the perfect time to jump in.

[johnj]

There's also a portion of traders who are asleep right now.  Last they saw before going to bed was <$5. Who knows what they'll do when they see the change.

[sveetsnelda]

You guys realize that a new exchange started up that allows margin trading with a 1:5 leverage, right?   (bitcoinica.com)

This is where a lot of the volume is coming from, I'm sure.

[Jack of Diamonds]

While I wanted to buy in I didn't because this wasn't a real rally, just the manipulator buying 10000 BTC on once, putting up various walls that he then removed quickly when people starting selling to him.

Who or what decides when it's "real"?

I for one bought a load at sub $5 because it seemed like a bargain.
I could bear the drop to $3-$4 levels short term.

[NamelessOne]

When one person buys 15000 coins at once and causes the price spike to 7 before falling back down that isn't a rally, that is one person buying 15000 coins. A 'real' rally is when the market, consisting of many buyers actually causes a price to climb. At the time of my post, there had been no 'real' rally following that buy, just a drop. That single buy has caused some stir now and people are feeling confident to some degree, but it is still almost entirely based on one persons manipulation. All hail the manipulator!

[fastandfurious]

When one person buys 15000 coins at once and causes the price spike to 7 before falling back down that isn't a rally, that is one person buying 15000 coins. A 'real' rally is when the market, consisting of many buyers actually causes a price to climb. At the time of my post, there had been no 'real' rally following that buy, just a drop. That single buy has caused some stir now and people are feeling confident to some degree, but it is still almost entirely based on one persons manipulation. All hail the manipulator!

Right. And don't forget the high inflation environment, 15 000 coins is what the inflation is in just 2 DAYS (7200 x 2). This is the reason we just see this fast spikes up and very short rally. As soon you give the market some time to digest all the trading volume, it starts to slide slowly down and almost always ends with a massive dump (because of all the new created bitcoins). One more year of this, because we have around 1 year and 3 months left of the high inflation environment. 

[GoWest]

When one person buys 15000 coins at once and causes the price spike to 7 before falling back down that isn't a rally, that is one person buying 15000 coins. A 'real' rally is when the market, consisting of many buyers actually causes a price to climb. At the time of my post, there had been no 'real' rally following that buy, just a drop. That single buy has caused some stir now and people are feeling confident to some degree, but it is still almost entirely based on one persons manipulation. All hail the manipulator!

Right. And don't forget the high inflation environment, 15 000 coins is what the inflation is in just 2 DAYS (7200 x 2). This is the reason we just see this fast spikes up and very short rally. As soon you give the market some time to digest all the trading volume, it starts to slide slowly down and almost always ends with a massive dump (because of all the new created bitcoins). One more year of this, because we have around 1 year and 3 months left of the high inflation environment. 

Yeah, exactly.  And, the guy who bought the 15 000 coins didn't even use REAL money.  He manipulated Mt Gox to make it appear like he had money in his account, and then placed a buy order which FORCED Mt Gox to add Bitcoins to its own accounts so they could sell into the buyer and make it look like a legit market.  I don't know how these guys get away with these things.  How is this not obvious to everyone else?  I say Bitcoins at $2 by the end of the week, unless this manipulation keeps happening.  Keep in mind, guys, if it hits $10 or $20 per Bitcoin, remember that it's just a blip on the way down to $0.  This is ridiculous.

[NamelessOne]

While I do believe there is a manipulator, I think it is an early adopter trying to show his faith in the bitcoin to the market rather then someone having hacked into MtGox. He has been doing it for a while. I honestly hope it works since bitcoin could be great. But we shall see.