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Author Topic: Rally is starting  (Read 12228 times)
phatsphere
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October 04, 2011, 02:24:22 PM
 #81

This stability is quite impressive.  Bravo bitcoin, bravo!

don't be fooled. "stable" also means that it counter-reacts to applied forces and balances back to its state before the event. in the last weeks, there was no force to the price - just look at the low volume! once (if ever) the volume rises again, we will see if it is stable. for me, right now it is just "dead" and boring.
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grod
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October 04, 2011, 02:32:34 PM
 #82

for me, right now it is just "dead" and boring.

Wait, bitcoin is dead??  SELL SELL SELL.  Then again, contrarian traders like myself have done very well on bitcoin recently.   BUY BUY BUY.
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October 04, 2011, 03:22:19 PM
 #83

As soon as enough traders become convinced it will not move, it will move.

Which direction?
I feel that people are becoming more confident now that the price is holding steady, and good news in the next couple weeks may spark a rally. Gut feeling.
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October 04, 2011, 03:56:32 PM
 #84

Actually the MtGox price seems to be lagging atm. Even some of Gox's own currency markets are out performing the USD/BTC rates. To say nothing of quite a few other markets around the world.

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October 04, 2011, 05:16:23 PM
 #85

Actually the MtGox price seems to be lagging atm. Even some of Gox's own currency markets are out performing the USD/BTC rates. To say nothing of quite a few other markets around the world.

With the dollar appreciating and flight from the euro, a stable USD/BTC might be an attractive hedge.

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October 04, 2011, 05:46:02 PM
 #86

Actually the MtGox price seems to be lagging atm. Even some of Gox's own currency markets are out performing the USD/BTC rates. To say nothing of quite a few other markets around the world.

With the dollar appreciating and flight from the euro, a stable USD/BTC might be an attractive hedge.

Right, and the same thing will happen to btc betties that happened to the franc.  If a lot of people start using them as a hedge, the price will rise. Then people will be wanting to hold betty not only because they have a stable value...but because they have a rising value!   ralley.
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October 04, 2011, 05:56:14 PM
 #87

The BTC market is too small to be a hedge of any kind.  But stability will be good especially for merchants and sellers using bitcoins.
netrin
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October 04, 2011, 06:01:19 PM
 #88

Right, and the same thing will happen to btc betties that happened to the franc.  If a lot of people start using them as a hedge, the price will rise. Then people will be wanting to hold betty not only because they have a stable value...but because they have a rising value!   ralley.

A betty is the BTC:USD pair? I don't follow what you're saying, the Bitcoin central bank will peg the BTC to the Euro? Or you mean before Zurich threw the wrench into the rally? Yes, this would be an ideal scenario, if it's easy to sell your european currency (euro, kroner, swissy) for btc (because it's seemingly pegged to the dollar) then it will appreciate even against the dollar. This would be an excellent development ahead of a Greek default.

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October 05, 2011, 05:54:21 PM
 #89

Due to lack of interest, the rally has been cancelled.
Bitcoin_Silver_Supply
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October 05, 2011, 06:07:01 PM
 #90

No Nagle, this is just the brief calm before the storm and then it's up, up, up TO THE MOON!

Is anyone still this delusional at the moment? I need some entertainment.
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October 05, 2011, 06:31:23 PM
 #91

No Nagle, this is just the brief calm before the storm and then it's up, up, up TO THE MOON!

Is anyone still this delusional at the moment? I need some entertainment.

Just remember, when we quickly rise past 50 you should sell big. Then you will be like the suckers who sold when we went from 1 to 4 before going up to 30.
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October 05, 2011, 08:36:30 PM
 #92

No Nagle, this is just the brief calm before the storm and then it's up, up, up TO THE MOON!

Is anyone still this delusional at the moment? I need some entertainment.

Just remember, when we quickly rise past 50 you should sell big. Then you will be like the suckers who sold when we went from 1 to 4 before going up to 30.

I'm not exactly seeing what will be lifting BTC up to $10 again, let alone $50.
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October 05, 2011, 08:41:58 PM
 #93

No Nagle, this is just the brief calm before the storm and then it's up, up, up TO THE MOON!

Is anyone still this delusional at the moment? I need some entertainment.

Just remember, when we quickly rise past 50 you should sell big. Then you will be like the suckers who sold when we went from 1 to 4 before going up to 30.

I'm not exactly seeing what will be lifting BTC up to $10 again, let alone $50.

Trust me, bitcoin will be worth $100 one good day !
netrin
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October 05, 2011, 09:39:00 PM
 #94

I would like to see a similar graph with some darlings like AAPL or gold.

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grod
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October 06, 2011, 01:41:36 AM
 #95


Just remember, when we quickly rise past 50 you should sell big. Then you will be like the suckers who sold when we went from 1 to 4 before going up to 30.

Be thankful.  If they held on and dumped at $20 you may never have seen $30.

Although your advice is good.  While it's good strategy to sell at any price (as you receive mined BTC) when a stock is trending down it's a good idea to hold and simply adjust your stop losses when it trends up.
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October 06, 2011, 01:43:33 AM
 #96

No Nagle, this is just the brief calm before the storm and then it's up, up, up TO THE MOON!

Is anyone still this delusional at the moment? I need some entertainment.

Just remember, when we quickly rise past 50 you should sell big. Then you will be like the suckers who sold when we went from 1 to 4 before going up to 30.

I'm not exactly seeing what will be lifting BTC up to $10 again, let alone $50.

Were you able to see what was lifting BTC to $30 a few months ago?
grod
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October 06, 2011, 02:56:57 AM
 #97


Were you able to see what was lifting BTC to $30 a few months ago?

Absolutely.  Wildly optimistic speculation combined with hoarding.  But most of all: silkroad.

Of those hoarding is back with a vengeance.  Silkroad is still around, but not acting as much of a demand on the supply.  All we need now is another catalyst for the wildly optimistic speculation and we're off to the races again.

But probably not until after the holidays and capitulation.


osmosis
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October 06, 2011, 02:59:13 AM
 #98

Be thankful.  If they held on and dumped at $20 you may never have seen $30.

Although your advice is good.  While it's good strategy to sell at any price (as you receive mined BTC) when a stock is trending down it's a good idea to hold and simply adjust your stop losses when it trends up.

Stop losses could hurt you if its just a temporary bounce...as happened in May.
osmosis
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October 06, 2011, 03:33:33 AM
 #99


Were you able to see what was lifting BTC to $30 a few months ago?

Absolutely.  Wildly optimistic speculation combined with hoarding.  But most of all: silkroad.

Of those hoarding is back with a vengeance.  Silkroad is still around, but not acting as much of a demand on the supply.  All we need now is another catalyst for the wildly optimistic speculation and we're off to the races again.

But probably not until after the holidays and capitulation.


I don't agree, but its just speculation. I think we will see rising prices in the next 45 days.
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October 06, 2011, 04:28:17 AM
 #100

As soon as enough traders become convinced it will not move, it will move.

I have quite a few grand that finally transferred into Dwolla a week or two ago. Usually I buy right away, but I'm now one of those waiting to be convinced it won't move before I help move it...
(The Dwolla lady that called me, wondering what the heck, and verifying my identity, sounded very nice. I just hope Dwolla doesn't get Goxed)

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