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Author Topic: Breakout to the Upside Imminent  (Read 4290 times)
dancupid
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October 12, 2011, 03:32:36 PM
 #21

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For others thinking about buying bitcoin, consider using it as a currency instead of an investment. The real power of BTC is fast, private buying/selling between regular people. Getting rich quick is only rarely going to happen in finance.  
P.S. I won't tell my wife either, just in case our wives talk.  Wink

Even though I bought at the wrong time I think it's still worth the gamble. Either bitcoin will fail or it will be incredibly successful. I think only a fool would think it wasn't worth the gamble - if it succeeds I'll be a multi-millionaire, if it fails I've lost a few thousand dollars I can afford to lose.
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October 12, 2011, 03:54:17 PM
 #22

New member signups on these forums have finally taken a decisive turn to the upside.  Yesterday there were 79, and today 82, and the day is not over yet.  82 would be the most since September 14th when there were 84 - nearly a month ago.

Positive news coverage of Bitcoin is rampant, and the association with the Occupy Wall Street movement is giving us some serious exposure.  Something is in the air, and of course this is just speculation, but I think we're about to leave the $3.xx price for a good long time, if not forever.

Hide your kids, hide your wife, and re-flash those mining rigs!



40 of those were sock puppets trolling the Alternate coins forum.

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October 12, 2011, 03:56:40 PM
 #23

New member signups on these forums have finally taken a decisive turn to the upside.  Yesterday there were 79, and today 82, and the day is not over yet.  82 would be the most since September 14th when there were 84 - nearly a month ago.

Positive news coverage of Bitcoin is rampant, and the association with the Occupy Wall Street movement is giving us some serious exposure.  Something is in the air, and of course this is just speculation, but I think we're about to leave the $3.xx price for a good long time, if not forever.

Hide your kids, hide your wife, and re-flash those mining rigs!



40 of those were sock puppets trolling the Alternate coins forum.

I am starting to feel like I am one of the only ones with just a single account on this forum. 
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October 12, 2011, 03:58:13 PM
 #24

New member signups on these forums have finally taken a decisive turn to the upside.  Yesterday there were 79, and today 82, and the day is not over yet.  82 would be the most since September 14th when there were 84 - nearly a month ago.

Positive news coverage of Bitcoin is rampant, and the association with the Occupy Wall Street movement is giving us some serious exposure.  Something is in the air, and of course this is just speculation, but I think we're about to leave the $3.xx price for a good long time, if not forever.

Hide your kids, hide your wife, and re-flash those mining rigs!



40 of those were sock puppets trolling the Alternate coins forum.

I am starting to feel like I am one of the only ones with just a single account on this forum. 

Nah you're not the only one; there's another.

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October 12, 2011, 04:26:23 PM
 #25

sadly so many of you have bough where the price was >10$

i would also be religious-BEARish now if i were you Cheesy

chart look bullish, although. do you realize those strong bullish outbreaks? seen them before the last months? NO? well, that is a point, isnt it?



also be sure to check out http://www.bitcoinbullbear.com/index.html
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October 12, 2011, 05:45:08 PM
 #26

wow! huge sell wall 4000@4 just went up.  Shocked
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October 12, 2011, 05:46:02 PM
 #27

another 2000@3.99

someone's liquidating
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October 12, 2011, 06:36:18 PM
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That's what they WANT you to think.  If they actually wanted to liquidate they'd just take a dump on the buy orders.  This is The Manipulator, he's back!  After taking a monstrous assblasting at $8 and $6 he's ready to try again at $4, as I predicted.   He just wants cheap bitcoins.  BUY BUY BUY.

Seriously though, 6k coins is about current daily mined volume, or only $24k.  It's nothing.

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October 12, 2011, 06:39:49 PM
 #29

Market is very bullish.

I expect 3$ in the next days.

And yes i said bullish. I can't even imagine the price if the market was bearish...
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October 12, 2011, 06:46:02 PM
 #30

Market is very bullish.

I expect 3$ in the next days.

And yes i said bullish. I can't even imagine the price if the market was bearish...

I can.  Called $1.25 as a capitulation point at $5, still thinking it's valid at current price/difficulty.  And yeah, Wednesday is almost over with no jump up.  Nothing much last Sunday either.  I don't have high hopes for Thursday, and weekend effect will kick in after that.  As a very wise man once said, "drop em or get raped."
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October 12, 2011, 07:20:08 PM
 #31

I used to use twitter #bitcoin tagged tweets as another measure of bitcoin popularity - until someone started spamming it, unfortunately any measure that is made public will be gamed.
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October 12, 2011, 07:52:11 PM
 #32

There is some MAJOR wtf stuff happening at all the pools... hope this doesn't affect price, lol

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October 12, 2011, 08:02:08 PM
 #33

There is some MAJOR wtf stuff happening at all the pools... hope this doesn't affect price, lol

What stuff?

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October 12, 2011, 08:15:57 PM
 #34

There is some MAJOR wtf stuff happening at all the pools... hope this doesn't affect price, lol

What stuff?

deepbit is definitely down and apparently a couple other big ones are down as well.  You can visit deepbit by using the ip and the hash rate is something like 9Ghash :-(

10% off at CampBX for LIFE:  https://campbx.com/main.php?r=C9a5izBQ5vq  ----  Authorized BitVoucher MEGA reseller (& BTC donations appreciated):  https://bitvoucher.co/affl/1HkvK8o8WWDpCTSQGnek7DH9gT1LWeV5s3/
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October 12, 2011, 08:17:52 PM
 #35

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For others thinking about buying bitcoin, consider using it as a currency instead of an investment. The real power of BTC is fast, private buying/selling between regular people. Getting rich quick is only rarely going to happen in finance.  
P.S. I won't tell my wife either, just in case our wives talk.  Wink

Even though I bought at the wrong time I think it's still worth the gamble. Either bitcoin will fail or it will be incredibly successful. I think only a fool would think it wasn't worth the gamble - if it succeeds I'll be a multi-millionaire, if it fails I've lost a few thousand dollars I can afford to lose.
Maybe you should play the lottery Cheesy.

That's what they WANT you to think.  If they actually wanted to liquidate they'd just take a dump on the buy orders.  This is The Manipulator, he's back!  After taking a monstrous assblasting at $8 and $6 he's ready to try again at $4, as I predicted.   He just wants cheap bitcoins.  BUY BUY BUY.

Seriously though, 6k coins is about current daily mined volume, or only $24k.  It's nothing.
It's also an instrumental tool to initiate panic.
grod
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October 12, 2011, 10:01:19 PM
 #36


It's also an instrumental tool to initiate panic.

I was expecting an artificial price spike due to this.  I didn't expect it to be so brief or feeble.
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October 13, 2011, 08:28:40 AM
 #37

I keep lurking here because this is really a lesson in self-deception,. Before you say anything, no, I'm not trolling, I've been here for a while, I rarely post, and I'm truly very interested in BTC for various reasons. Yet, I'm just baffled by the almost religious bullishness.

Since bitcoin is a risky experiment, I can understand if someone is consistently bearish, but those that are consistently bullish baffle me, too.  Like a monk repeating their mantras, they do seem like the ones that post the most regularly.

My guess is that at least one of the perma-bulls is trying to sway public opinion, and posts a "rally!" message every time they take a long position. At least this makes some kind of sense.
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October 13, 2011, 09:12:14 AM
 #38

My guess is that at least one of the perma-bulls is trying to sway public opinion, and posts a "rally!" message every time they take a long position. At least this makes some kind of sense.

That's very much what happens.  The biggest perma bulls have the largest financial interests in pumping the market up.  They're been at it all through the $32 -> $4 fall.  It hasn't proven to be successful so far, so one wonders why they persist with a losing strategy.

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October 13, 2011, 09:14:16 AM
 #39

This... BTC is plagued by scammers and hackers, who are the main reason why the price is so low.

The question is, is the price "so low"? It seems like it because it shot up to $32 at one point. However, just one year ago, 1 bitcoin was 20 cents US and if you had told me it would hit $1 by this time this year I'm not sure I would have believed you.

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October 13, 2011, 10:20:34 AM
 #40

This... BTC is plagued by scammers and hackers, who are the main reason why the price is so low.

The question is, is the price "so low"? It seems like it because it shot up to $32 at one point. However, just one year ago, 1 bitcoin was 20 cents US and if you had told me it would hit $1 by this time this year I'm not sure I would have believed you.

That is true.  Bitcoins could be worth $1 each tomorrow and some people could legitimately still claim that bitcoin's value has boomed.  This is assuming they either mined or bought bitcoins when they were worth a handful of cents each.

What we really need to look at is how many people were aware of bitcoin, and had a substantial stake in it when they were worth just a few cents each.  If 100 people bought in at 10c each, yet the vast majority of people interested in bitcoin (let's say, 1000) bought in when popularity boomed in early/mid 2011, the vast majority would be disillusioned with the price hovering around $4.  There are a few winners, but many losers.

Bitcoin's price bubble is still deflating and it's difficult to see what current product or event could see it reach $10+ again.

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