Once More Unto the Breach, Dear Friends, Once More! | WSC Team

[alpha492]

You have made a nice website. Don't get a reputation for biased analysis otherwise it's a waste.

My analysis is biased toward the interests of traders, perhaps this is the point being widely missed.  If you need proof that my analytic techniques have been effective in the passed just look at my previous speculation articles.

Once again the target audience for this article, the site, and this thread is not investors it is traders.

[MatTheCat]

Get Karhu out here MatTheCat: maybe he'll convince me!  

Nevermind Karhu, go and have a look at the charts if you want convincing.

......and if you are still not convinced go and try trading on Bitstamp and discover the botfest doing its utmost to hold the price and suck capital in. Going by the charts, it still looks as though there are fast trading opportunities to be had, but if you take to the arena against the bots, you will soon realise that this is merely an illusion. I got in an and out with a $20 profit after exchange fees were subtracted, and that was from a $15K investment. Easy enough to buy when the Bid wall is hit but only the bots get to sell at the Ask walls.

Bitcoin is going well sub $700 before this weekend is out.

[alpha492]

Get Karhu out here MatTheCat: maybe he'll convince me!  

Nevermind Karhu, go and have a look at the charts if you want convincing.

......and if you are still not convinced go and try trading on Bitstamp and discover the botfest doing its utmost to hold the price and suck capital in. Going by the charts, it still looks as though there are fast trading opportunities to be had, but if you take to the arena against the bots, you will soon realise that this is merely an illusion. I got in an and out with a $20 profit after exchange fees were subtracted, and that was from a $15K investment. Easy enough to buy when the Bid wall is hit but only the bots get to sell at the Ask walls.

Bitcoin is going well sub $700 before this weekend is out.

Was the troll squad accusing you of perma-bear bias or something?

[alpha492]

Dismissive perma-bulls have gotten awfully quiet...

[T.Stuart]

Dismissive perma-bulls have gotten awfully quiet...

Aaaaannd.... Hello! 

[alpha492]

[KARHU]

Bullshit! 

OMFG T.Stuart.

Either you wisen up or you are gonna go down a fucking powder!

I bet this will all be timed for the China exit at the end of the month.

Get Karhu out here MatTheCat: maybe he'll convince me! 

KARHU has spoken but there is still time, do you give alms, or shall you be slaughtered in praise of KARHU!

[billyjoeallen]

I think it is very likely that some heavy hitters with institutional money are going to line up to buy that silk road coins and they will be purchased off exchange.  I remember reading about Warren Buffet vacationing in Yellowstone Park when Longterm Capital Management Group went belly up.  They way you become a billionaire is by never ever ever paying retail.  

I'm fairly certain there are several whales looking for an entry point. Put it this way: if you had billions of dollars lying around depreciating, what would you do with them?

[MatTheCat]

In a nutshell alpha492, going by your TA, is this still a good time to short?

I anticipated a bounce at the $765 level, which bitcoin hit as I transferred my $790 coins over to Bitfinex in order to turn into USD for shorting (I managed to get out at just a small discount from what I paid for my BTC over at Bitstamp).

Seems like there is more of a Bitcoin fart than a bounce underway here and I consider that there will be much more downside to come before this weekend is out.

However, now I am standing on verge of sinking a few grand into shorting Bitcoin, the fact that we have had around $200 of downside in the past week is standing out in my mind.

[slfmde]

The bitcoins will be auctioned not in the open market http://www.pfhub.com/silk-road-bitcoins-will-be-sold-though-us-marshal-auction-not-on-open-exchange-304/

[MatTheCat]

The bitcoins will be auctioned not in the open market http://www.pfhub.com/silk-road-bitcoins-will-be-sold-though-us-marshal-auction-not-on-open-exchange-304/

At a considerable discount from their mark to market value.....

......and what will the proud new owners of these coins want to then do with a certain proportion of them?

[T.Stuart]

In a nutshell alpha492, going by your TA, is this still a good time to short?

I anticipated a bounce at the $765 level, which bitcoin hit as I transferred my $790 coins over to Bitfinex in order to turn into USD for shorting (I managed to get out at just a small discount from what I paid for my BTC over at Bitstamp).

Seems like there is more of a Bitcoin fart than a bounce underway here and I consider that there will be much more downside to come before this weekend is out.

However, now I am standing on verge of sinking a few grand into shorting Bitcoin, the fact that we have had around $200 of downside in the past week is standing out in my mind.

MatTheCat you are running around willy nilly to anyone you deem an "analyst" for advice. I give you a cast-iron guarantee you will not get anywhere doing this.

Not saying you have to go long, not saying you have to go short, but whatever you do think for yourself man!

[proudhon]

The bitcoins will be auctioned not in the open market http://www.pfhub.com/silk-road-bitcoins-will-be-sold-though-us-marshal-auction-not-on-open-exchange-304/

My god!  This is truly frightening bad news.  Please post it here so everyone can see all the bad confirmed bad news from good sources in one place.  Also, make sure to SHOTR, if you haven't already.

[MatTheCat]

MatTheCat you are running around willy nilly to anyone you deem an "analyst" for advice. I give you a cast-iron guarantee you will not get anywhere doing this.

Not saying you have to go long, not saying you have to go short, but whatever you do think for yourself man!

I have had a shortist mentality on Bitcoin since $900's, and have been turning a few pennies trying to trade bounces, which is becoming increasingly nippy as it becomes more and moe dominated by bots.

Now, I think we are going lower, much lower, but it is very possible/likely that we will see a bounce right around the level that Bitcoin just hit......

......have never shorted anything before so perhaps this is a dicey time to start, regardless of my certainty of where Bitcoin is going.

[billyjoeallen]

The bitcoins will be auctioned not in the open market http://www.pfhub.com/silk-road-bitcoins-will-be-sold-though-us-marshal-auction-not-on-open-exchange-304/

At a considerable discount from their mark to market value.....

......and what will the proud new owners of these coins want to then do with a certain proportion of them?

They are likely to securitze them. Basically repackage them and sell them to institutional investors.  You think the Winklevi and Bitcoin Investment Trust are going to be the only players in that space?

[MatTheCat]

The bitcoins will be auctioned not in the open market http://www.pfhub.com/silk-road-bitcoins-will-be-sold-though-us-marshal-auction-not-on-open-exchange-304/

At a considerable discount from their mark to market value.....

......and what will the proud new owners of these coins want to then do with a certain proportion of them?

They are likely to securitze them. Basically repackage them and sell them to institutional investors.  You think the Winklevi and Bitcoin Investment Trust are going to be the only players in that space?

Whatever the case is. This is NOT bullish news. All that is up for debate is to what extent it will have a bearish impact.

[alpha492]

In a nutshell alpha492, going by your TA, is this still a good time to short?

I anticipated a bounce at the $765 level, which bitcoin hit as I transferred my $790 coins over to Bitfinex in order to turn into USD for shorting (I managed to get out at just a small discount from what I paid for my BTC over at Bitstamp).

Seems like there is more of a Bitcoin fart than a bounce underway here and I consider that there will be much more downside to come before this weekend is out.

However, now I am standing on verge of sinking a few grand into shorting Bitcoin, the fact that we have had around $200 of downside in the past week is standing out in my mind.

Its hard to say atm,

We've got some pretty strong support at 791 that volume is accumulating at, but we slip under it will be a free-for-all.  This was a take-profit area for me but I may reenter if we slip far enough under supports.

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[billyjoeallen]

The bitcoins will be auctioned not in the open market http://www.pfhub.com/silk-road-bitcoins-will-be-sold-though-us-marshal-auction-not-on-open-exchange-304/

At a considerable discount from their mark to market value.....

......and what will the proud new owners of these coins want to then do with a certain proportion of them?

They are likely to securitze them. Basically repackage them and sell them to institutional investors.  You think the Winklevi and Bitcoin Investment Trust are going to be the only players in that space?

Whatever the case is. This is NOT bullish news. All that is up for debate is to what extent it will have a bearish impact.

I disagree. If the FBI had seized 25m in heroin, they would had destroyed it. They are selling. It's hard to make a case that selling something is bad if you are selling it yourself. This legitimizes Bitcoin.

[alpha492]

In a nutshell alpha492, going by your TA, is this still a good time to short?

I anticipated a bounce at the $765 level, which bitcoin hit as I transferred my $790 coins over to Bitfinex in order to turn into USD for shorting (I managed to get out at just a small discount from what I paid for my BTC over at Bitstamp).

Seems like there is more of a Bitcoin fart than a bounce underway here and I consider that there will be much more downside to come before this weekend is out.

However, now I am standing on verge of sinking a few grand into shorting Bitcoin, the fact that we have had around $200 of downside in the past week is standing out in my mind.

MatTheCat you are running around willy nilly to anyone you deem an "analyst" for advice. I give you a cast-iron guarantee you will not get anywhere doing this.

Not saying you have to go long, not saying you have to go short, but whatever you do think for yourself man!

Really, most of our twitter followers and readers seem to be happy?

[alpha492]

The bitcoins will be auctioned not in the open market http://www.pfhub.com/silk-road-bitcoins-will-be-sold-though-us-marshal-auction-not-on-open-exchange-304/

At a considerable discount from their mark to market value.....

......and what will the proud new owners of these coins want to then do with a certain proportion of them?

They are likely to securitze them. Basically repackage them and sell them to institutional investors.  You think the Winklevi and Bitcoin Investment Trust are going to be the only players in that space?

Whatever the case is. This is NOT bullish news. All that is up for debate is to what extent it will have a bearish impact.

Thank god someone understands the message here.  Thank you for stopping by the thread MatTheCat, a lot of people have been flaming the article without even reading it.

It not about what the FBI does with it (except in the worst case scenarios) its about the sentiment of traders.  Unfortunately, today has resulted in some very sad/mad bulls that seem to be polluting the thread.