Bear Trend Forming on 4 Hour Chart?

[humanitee]

So... you want me to risk trusting an exchange, force myself to deal with tax issues (along with foreign account issues), and convert my bitcoins into something I despise (money that is controlled by the few for their own benefit), in hopes that I beat the odds (most speculators lose) and will be able to purchase more bitcoins in the future?

Fuck that. I'll just buy more with whatever fiat I happen to find during a crash.

Hooray for the 'buy in at any price crowd'.

Afterall, there has got to be someone to buy out our bad bets.

Now if you don't mind, I will place you on ignore. you haven't insulted me or anything like that, its just that I figure that if I can slowly block out all the brain damage merchants polluting this place, this forum section might just be a place where one can glean insight and good advice.

Pot, meet kettle.

[Hfertig]

I'm a bit dull, could you just tell me the lesson so I don't have to wait until I learn it on my own?

Sell now, buy back in at inevitably lower prices like I am doing.

Hope that helps clear things up for you.

So... you want me to risk trusting an exchange, force myself to deal with tax issues (along with foreign account issues), and convert my bitcoins into something I despise (money that is controlled by the few for their own benefit), in hopes that I beat the odds (most speculators lose) and will be able to purchase more bitcoins in the future?

Fuck that. I'll just buy more with whatever fiat I happen to find during a crash.

I guess it really depends where you live.

In Germany Bitcoin profits are tax free after one year and I do cash out via Bitcoin.de, where people send the money directly to my bank account....

So basically after the crash you sit on a pile of Fiat (which you need at some stage anyway for food, rent, gas....) and the same amount of bitcoins, maybe more. Don´t see anything wrong with that. No train to be missed at these prices...
Even if it is less Bitcoins, I would not really care...

[seleme]

I always wondered how do you prove to German tax authorities that you've hold your BTC for one year??

[bitcon]

i put in a strong wall at $700.  lets see if it gets filled.

[Hfertig]

I always wondered how do you prove to German tax authorities that you've hold your BTC for one year??

Easy, just show them your transaction history. Of course you need to download and save it once in a while

[Hfertig]

So... you want me to risk trusting an exchange, force myself to deal with tax issues (along with foreign account issues), and convert my bitcoins into something I despise (money that is controlled by the few for their own benefit), in hopes that I beat the odds (most speculators lose) and will be able to purchase more bitcoins in the future?

Fuck that. I'll just buy more with whatever fiat I happen to find during a crash.

Hooray for the 'buy in at any price crowd'.

Afterall, there has got to be someone to buy out our bad bets.

Now if you don't mind, I will place you on ignore. you haven't insulted me or anything like that, its just that I figure that if I can slowly block out all the brain damage merchants polluting this place, this forum section might just be a place where one can glean insight and good advice.

It sounds like you are only here for fiat profits. I'm sorry to hear that, Bitcoin is so much more. Some day you might realize that. Then again, it might be the brain damage talking...

Mate, I got a family of 5 to feed, no time for ideological feelings. If I want to believe I go to church... I would guess most people are here for the same reason.

[accord01]

Perhaps people need cash for Christmas right now?  I would think that December would be a slow month for Bitcoin anyways.

$1000 per coin is nothing compared to what it could be.

I am sure everyone thought $10 a coin was high, then $100 was considered a dream.  Now that seems cheap.  The same thing will happen to $1000. 

No ma'am, that is hardly why.

[Hfertig]

I'm a bit dull, could you just tell me the lesson so I don't have to wait until I learn it on my own?

Sell now, buy back in at inevitably lower prices like I am doing.

Hope that helps clear things up for you.

So... you want me to risk trusting an exchange, force myself to deal with tax issues (along with foreign account issues), and convert my bitcoins into something I despise (money that is controlled by the few for their own benefit), in hopes that I beat the odds (most speculators lose) and will be able to purchase more bitcoins in the future?

Fuck that. I'll just buy more with whatever fiat I happen to find during a crash.

I guess it really depends where you live.

In Germany Bitcoin profits are tax free after one year and I do cash out via Bitcoin.de, where people send the money directly to my bank account....

So basically after the crash you sit on a pile of Fiat (which you need at some stage anyway for food, rent, gas....) and the same amount of bitcoins, maybe more. Don´t see anything wrong with that. No train to be missed at these prices...
Even if it is less Bitcoins, I would not really care...

Indeed. If there was an exchange available to me which I trusted, and a less cumbersome tax burden, I would certainly consider playing the market (in the hopes of winning more bitcoin). I think my paranoia about exchanges and reluctance to make a move which would require dealing with taxes has saved me quite a bit of money (bitcoin or fiat) in the past three years.

I certainly do understand you !

[Hfertig]

No, no trouble to feed them, but I want to work less, to spend more time with them. Not possible with a second job. Let´s say I have been speculating in 2011 and not afterwards...

[pbody]

i put in a strong wall at $700.  lets see if it gets filled.

I'm putting it at 800.

[Hfertig]

No, no trouble to feed them, but I want to work less, to spend more time with them. Not possible with a second job. Let´s say I have been speculating in 2011 and not afterwards...

I can't blame you there! Best of luck to you.

The same to you mate ! Let´s see how it is going to turn out....

[Salivan]

don't compare it  to april because  there are some very important differences
- lack of early adopters
-  much lower fold in respect to floor ( 10 -> 266, 100 -> 1300 )
- and what most important China effect
Did  anyone here  noticed a huge volume in general  when  you add all exchanges. I can risk statement that we are "in summer" now when you look at this factor.
Changes are more rapid, back then a crash  needed 6 months  to unload. Now  the same  job is done within  days.
And it wasn't really  comparable  crash in magnitude and overall reception.
In my opinion someone is  simply  probing how strong  support is  and  its why  we are  falling. but  believe me or not sentiment is  still positive and  we  have  room to  go  up.
Only  thing I fear  at this point  is some formal preventive action against bitcoin ecosystem, with  this  exception  I am  bullish  as  never

[piramida]

I have my lowest buys at $650 since I seriously doubt we get anywhere lower than that. More like some wide swings in the 700-1200 region until an ATH is made. Speculation paradise!

[EvilPanda]

don't compare it  to april because  there are some very important differences
- lack of early adopters
-  much lower fold in respect to floor ( 10 -> 266, 100 -> 1300 )
- and what most important China effect
Did  anyone here  noticed a huge volume in general  when  you add all exchanges. I can risk statement that we are "in summer" now when you look at this factor.
Changes are more rapid, back then a crash  needed 6 months  to unload. Now  the same  job is done within  days.
And it wasn't really  comparable  crash in magnitude and overall reception.
In my opinion someone is  simply  probing how strong  support is  and  its why  we are  falling. but  believe me or not sentiment is  still positive and  we  have  room to  go  up.
Only  thing I fear  at this point  is some formal preventive action against bitcoin ecosystem, with  this  exception  I am  bullish  as  never

+1
I can see a lot of positive reactions to btc. People just sell around $1000 because it seems a lot for an electronic coin. It's going to take some time before they get used to price staying above $800 and then we'll go up again.

[Edward50]

don't compare it  to april because  there are some very important differences
- lack of early adopters
-  much lower fold in respect to floor ( 10 -> 266, 100 -> 1300 )
- and what most important China effect
Did  anyone here  noticed a huge volume in general  when  you add all exchanges. I can risk statement that we are "in summer" now when you look at this factor.
Changes are more rapid, back then a crash  needed 6 months  to unload. Now  the same  job is done within  days.
And it wasn't really  comparable  crash in magnitude and overall reception.
In my opinion someone is  simply  probing how strong  support is  and  its why  we are  falling. but  believe me or not sentiment is  still positive and  we  have  room to  go  up.
Only  thing I fear  at this point  is some formal preventive action against bitcoin ecosystem, with  this  exception  I am  bullish  as  never

+1
I can see a lot of positive reactions to btc. People just sell around $1000 because it seems a lot for an electronic coin. It's going to take some time before they get used to price staying above $800 and then we'll go up again.

That's if it stays above $800. Looks weak and low volume. 

[MatTheCat]

Yup....looking weak. If the price is going to go shooting in any direction any time soon, then that direction certainly won't be ^UP^

Here is my buy in ladder:

Order type   Date and time   BTC amount   Bitcoin price   Order value   Order status   
Buy   Dec. 11, 2013, 6:24 p.m.   4.00000000   $580.00   $2,320.00   Open   Cancel
Buy   Dec. 11, 2013, 6:24 p.m.   5.00000000   $540.00   $2,700.00   Open   Cancel
Buy   Dec. 11, 2013, 6:24 p.m.   6.00000000   $500.00   $3,000.00   Open   Cancel
Buy   Dec. 11, 2013, 6:24 p.m.   6.00000000   $480.00   $2,880.00   Open   Cancel
Buy   Dec. 11, 2013, 6:25 p.m.   4.50000000   $440.00   $1,980.00   Open   Cancel

Just hope it doesn't go too much lower than the $400....perhaps I will take out the $580 and put in a $400 tranche....hrmmm?

My last buy in was pretty good...lowest buy in tranche was at $600, it went to $545. Will see how this one goes. I don't expect to get it imminently, but then I never expected to get my last one so soon (sold 75% of what I bought), but I ended up getting it basically the following day....was the weekend though.....Friday evening, nobody watching, not new money getting into exchanges..etc.

[EvilPanda]

don't compare it  to april because  there are some very important differences
- lack of early adopters
-  much lower fold in respect to floor ( 10 -> 266, 100 -> 1300 )
- and what most important China effect
Did  anyone here  noticed a huge volume in general  when  you add all exchanges. I can risk statement that we are "in summer" now when you look at this factor.
Changes are more rapid, back then a crash  needed 6 months  to unload. Now  the same  job is done within  days.
And it wasn't really  comparable  crash in magnitude and overall reception.
In my opinion someone is  simply  probing how strong  support is  and  its why  we are  falling. but  believe me or not sentiment is  still positive and  we  have  room to  go  up.
Only  thing I fear  at this point  is some formal preventive action against bitcoin ecosystem, with  this  exception  I am  bullish  as  never

+1
I can see a lot of positive reactions to btc. People just sell around $1000 because it seems a lot for an electronic coin. It's going to take some time before they get used to price staying above $800 and then we'll go up again.

That's if it stays above $800. Looks weak and low volume. 

It's not a typical stock. If the Greek/Cyprian crysis hits another country or a big company enters the market we might have an instant rally. Right now we are slowing down because, since last weekend, there was no spark to ignite the fuel. The only thing you can be quite sure with BTC is that it's going up in the long run, so this spark will eventually come. If it's soon then the price won't fall much, if not we might even see that 500 you're waiting for

[proudhon]

We are in a bear market. The volume above 1000 was thin. Lots of people are sitting on paper profits. Bulls at this current level will learn the same lesson as the bulls did in the previous two crashes. I don´t believe that 546 was the low. Sorry, but greed is not selling to protect profits, it is sitting on massive profits and being greedy for more.

This.  This is the advice I followed when people said the same thing in early June 2011.





Haha, jk.

[Nikinger]

Maybe we'll go that way?


What's the difference between the bubble in 2011 and now?

Because I fear repeating the 2011 bubble, I sold 35% of my Bitcoins.

[zby]

Maybe we'll go that way?


What's the difference between the bubble in 2011 and now?

Because I fear repeating the 2011 bubble, I sold 35% of my Bitcoins.

This convinces me that it can indeed repeat 2011 - not enough fear - true fear would mean 100% bitcoins sold.