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Author Topic: Up up up!  (Read 3406 times)
SgtSpike
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August 20, 2011, 12:23:53 AM
 #1

I haven't seen this steady of an uptrend since... well... a while ago.  Tongue
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BitcoinStars.com
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August 20, 2011, 12:25:36 AM
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So it's up tomorrow for sure ?  Cool
Bitcoin Swami
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August 20, 2011, 01:18:00 AM
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Looks like the volume at exchb is rocking..  lots of people buying there.  People love the instant deposits.. not sure how long it can last but its nice while its happening.
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August 20, 2011, 02:12:29 AM
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August 20, 2011, 02:14:46 AM
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lawl  Grin

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
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August 20, 2011, 02:22:34 AM
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i don't know where that huge and growing mount will take us, so for now i'm canceling my sell orders
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August 20, 2011, 02:26:02 AM
 #7

I've still been unable to successfully fund an account in time for a strategic buy on these dips, I think ExchB is in my future... I'm on a business trip ATM and may just have to sign up to jump on board before the party's over!

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August 20, 2011, 02:28:34 AM
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i don't know where that huge and growing mount will take us, so for now i'm canceling my sell orders

Feeling Bullish?  Cool
SgtSpike
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August 20, 2011, 02:30:03 AM
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Wow... that's the first time I've seen the buys higher than the asks in a long time!

I am feeling bullish indeed right now.  Smiley
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August 20, 2011, 02:32:02 AM
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Wow... that's the first time I've seen the buys higher than the asks in a long time!

I am feeling bullish indeed right now.  Smiley


We haven't had bad news in the bitcoin world in over a week. That is super bullish  Cool
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August 20, 2011, 02:38:13 AM
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i don't know where that huge and growing mount will take us, so for now i'm canceling my sell orders

Feeling Bullish?  Cool

indeed, i managed to screw up on few smallish rallies recently, wiped all my gains that i made on slide downs, not taking any chances now until we reach new peaks =)
helloworld
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August 20, 2011, 02:47:07 AM
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We haven't had bad news in the bitcoin world in over a week. That is super bullish  Cool

Heh, such a volatile playground...

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August 20, 2011, 03:31:16 AM
 #13

Come on, $20!!

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August 20, 2011, 04:16:57 AM
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I think all the rallying from the previous $11 up to the current $11.50 is purely in *anticipation* of good news coverage coming out of the conference.
This means if there is too much more upwards movement before the actual news - and the news isn't particularly good at pulling in more interest for bitcoin - then we may just see a 'disappointment' drop after the conference.

I'll be happy if there's just enough news coming out of this to consolidate and stabilize the anticipatory gains we seem to be seeing now.
If it spikes up to $20 or beyond.. how can you have a reasonable confidence that this is sustainable and isn't about to crash back to $11 or so?
What we really need to see in bitcoin is a slow uptrend as new services and users come in to the community.

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MattscheAN
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August 20, 2011, 04:23:30 AM
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I think all the rallying from the previous $11 up to the current $11.50 is purely in *anticipation* of good news coverage coming out of the conference.
This means if there is too much more upwards movement before the actual news - and the news isn't particularly good at pulling in more interest for bitcoin - then we may just see a 'disappointment' drop after the conference.

I'll be happy if there's just enough news coming out of this to consolidate and stabilize the anticipatory gains we seem to be seeing now.
If it spikes up to $20 or beyond.. how can you have a reasonable confidence that this is sustainable and isn't about to crash back to $11 or so?
What we really need to see in bitcoin is a slow uptrend as new services and users come in to the community.



1+

you're damn right - not these 30$ jumps again - that would be bad news for bitcoins future!

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August 20, 2011, 09:23:08 AM
 #16

My ~$7.50 orders are still in place.  I expect them to be filled sometime in the next few months when the next exchange is hacked or someone gets access to a fat wallet.dat.  It's only a matter of time as the potential rewards for pwning one file are so large. 

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August 20, 2011, 09:40:16 AM
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My ~$7.50 orders are still in place.  I expect them to be filled sometime in the next few months when the next exchange is hacked or someone gets access to a fat wallet.dat.  It's only a matter of time as the potential rewards for pwning one file are so large. 

Nice theory..  but if concurrent issues of bitomat.pl losing it's wallet + mybitcoin only brought it down to approximately that level.. then your 7.50 catch point is probably only good if bitcoins are trading at around $15 or less (approx where they were before these problems)

I don't know how best to estimate the effect of major service failure/hacks... but I have a suspicion that if we see a rise to around $15 again soon, then people will realize that even these perceived 'major' events are really nothing more than a transient side issue as far as bitcoin itself is concerned.  Future such dips might therefore be less drastic.


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ruski
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August 20, 2011, 09:52:28 AM
 #18

I sold my holdings at 11.50.

In real, emotional stocks with this pattern - jump, simmer, jump, simmer, flatline - it tends to indicate a major break about to happen. Which direction is usually only evident seconds before it happens.

Watch for the next visible bump - if it's immediately upwards, it's highly likely it will trigger some autosells, more autosells will follow, and the price will snowball downward very quickly.

The opposite is also true. If it dips slightly downward, it will trigger buys, and it could snowball upward a very long way.

If I see that downward dip, I'm buying in hard. Cool

With all the itchy trigger fingers, and the usual weekend sell volume, I'm not putting too much stock in all those buy orders. All it will take is one eager, early large buy, and autosales plus the usual sale volume will put hard downward pressure on it. I don't see too many large holders selling on the flatline so I believe a drop is far more likely than a rise right now.

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old_engineer
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August 20, 2011, 01:39:12 PM
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You might have sold to me, Ruski, I bought in at 11.50-ish.  I just don't see a large bitcoin holders dropping coins before they see what happens during and after the conference.  Why would they sell now?  I think there will be lots of small buys from eager beavers that eat their way up to $11.80 this weekend, with several large buys happening next week, pushing up and over $12 before the sellers start selling again.  My prediction: $14 by the end of the month.
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August 20, 2011, 03:38:16 PM
 #20

So are we up for sure today?  Cool
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