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kaysersoze (OP)
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March 21, 2014, 12:17:52 PM |
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You would assume with all the recent bad news regarding mtgox slowly getting out of the way that the price would continue up.... what is happening? I cant figure out the price movement recent week /days
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Predatorian
Member
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Activity: 70
Merit: 10
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March 21, 2014, 12:21:57 PM |
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Yee right, well hard to say at this moment but it's probably about chinese banks blocked btc, this is probably the reason.
Let's just wait for more details.
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arepo
Sr. Member
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Activity: 448
Merit: 250
this statement is false
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March 21, 2014, 12:31:51 PM |
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news does not generally move the price the way you think it does.
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this sentence has fifteen words, seventy-four letters, four commas, one hyphen, and a period.
18N9md2G1oA89kdBuiyJFrtJShuL5iDWDz
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TERA
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March 21, 2014, 12:34:47 PM |
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It went too high in 2013 and then the trend diverged and then major market sectors got cut off and then the trend diverged even more.
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BidcoinBernd
Newbie
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Activity: 26
Merit: 0
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March 21, 2014, 12:34:57 PM |
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My bet is on insiders. Really bad news incoming soon.
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arepo
Sr. Member
Offline
Activity: 448
Merit: 250
this statement is false
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March 21, 2014, 12:37:08 PM |
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It went too high in 2013 and then the trend diverged and then major market sectors got cut off and then the trend diverged even more.
+1 for elegance in simplicity, and overall accuracy |
this sentence has fifteen words, seventy-four letters, four commas, one hyphen, and a period.
18N9md2G1oA89kdBuiyJFrtJShuL5iDWDz
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Cassius
Legendary
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Activity: 1764
Merit: 1031
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March 21, 2014, 12:51:08 PM |
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My bet is on insiders. Really bad news incoming soon.
Correction was expected/due anyway. Even at $600 bitcoin was still overbought. We just haven't seen the end of the post-December ATH adjustment yet. It looked like it for a bit but then some whale confused everything. This is just picking up where we left off. TERA and Arepo might nuance it better but as I see it $400-500 is closer to where bitcoin "should" be at the moment. |
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kaysersoze (OP)
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March 21, 2014, 12:54:39 PM |
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news does not generally move the price the way you think it does.
probably right... so what are the drivers ? both up and down drivers? |
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mercury
Newbie
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Activity: 34
Merit: 0
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March 21, 2014, 01:05:00 PM |
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Lets not forget that the Gox story isn't over yet. 850.000 btc is a big number and Gox's non stop lying - they discovered 200.000 btc they misput  - doesn't help to build a positive sentiment. |
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Cassius
Legendary
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Activity: 1764
Merit: 1031
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March 21, 2014, 02:55:04 PM |
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I don't think this is to blame. Price needed to head south anyway. If anything, that gave it an excuse, but I doubt even that much. |
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FastBluff
Full Member
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Activity: 168
Merit: 100
https://fastbluff.com/
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March 21, 2014, 02:57:49 PM |
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Im sure the price is going to go back up relatively soon. Its dropped about $60 in the last four days. Investors are dumping. When the price goes down some more maybe 500$ range there will be a huge fire sale and investors will gobble in up fairly quickly bringing the price back to the sub 600-700 range. Its just how this game works.
The people who have the most influence make the most money, they can swing the price if needed.
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Dr.Zaius
Newbie
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Activity: 28
Merit: 0
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March 21, 2014, 03:01:24 PM |
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3600 bitcoins created out of thin air everyday. At $575 This is $2million.
What is difficult to comprehend here?
Miners currently enjoy obscene profit margins, while providing no value.
70k transactions per day occuring. $30 per transaction going to the miners.
From this we can estimate maybe 5000-24000 daily active users. Each user is essentially generating a charge between $80 to $400 per useage of the network. This is being absorbed by all holders.
There is not enough demand in the system to absorb the coins being conjured up out of nothing. Miner's are rent seeking, and worst of all this rent seeking is more and more concentrated as elite miners dominate the network.
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Cassius
Legendary
Offline
Activity: 1764
Merit: 1031
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March 21, 2014, 03:03:30 PM |
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3600 bitcoins created out of thin air everyday. At $575 This is $2million.
What is difficult to comprehend here?
Miners currently enjoy obscene profit margins, while providing no value.
70k transactions per day occuring. $30 per transaction going to the miners.
From this we can estimate maybe 5000-24000 daily active users. Each user is essentially being charged $400 to $180 per useage of the network. This is being absorbed by all users.
There is not enough demand in the system to absorb the coins being conjured up out of nothing. Miner's are rent seeking, and worst of all this rent seeking is more and more concentrated as elite miners dominate the network.
Hello Lord Trollmore. How many threads are you going to bang this drum on? Let us know when someone starts listening. Or, preferably, not. |
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oda.krell
Legendary
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Activity: 1470
Merit: 1007
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March 21, 2014, 03:03:42 PM |
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Now that's a good example of a contrarian indicator post. As long as guys like you keep posting "we only going down because MANIPULATION", there's still plenty of room to the downside left. Btw, same holds true for bearish conspiracies in an uptrend ("The China rally isn't sustainable!!!", @~700) |
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nemgola
Newbie
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Activity: 2
Merit: 0
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March 21, 2014, 03:05:08 PM |
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200 day trendline support HOLD.
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Dr.Zaius
Newbie
Offline
Activity: 28
Merit: 0
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March 21, 2014, 03:07:55 PM |
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3600 bitcoins created out of thin air everyday. At $575 This is $2million.
What is difficult to comprehend here?
Miners currently enjoy obscene profit margins, while providing no value.
70k transactions per day occuring. $30 per transaction going to the miners.
From this we can estimate maybe 5000-24000 daily active users. Each user is essentially being charged $400 to $180 per useage of the network. This is being absorbed by all users.
There is not enough demand in the system to absorb the coins being conjured up out of nothing. Miner's are rent seeking, and worst of all this rent seeking is more and more concentrated as elite miners dominate the network.
Hello Lord Trollmore. How many threads are you going to bang this drum on? Let us know when someone starts listening. Or, preferably, not. You don't like fact? Miners will keep selling as they are enjoying record margins. Sorry you are angry and don't understand bad economic incentives. |
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FastBluff
Full Member
Offline
Activity: 168
Merit: 100
https://fastbluff.com/
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March 21, 2014, 03:12:36 PM |
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Found a great article on the wall street journal..
Apparently the link was suspicious? its the Wall street journal!!!
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ravenjt
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March 21, 2014, 03:41:45 PM |
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I've been watching the live trades on Bitstamp for about ten minutes, about ten minutes ago. There are some interesting patterns.
Someone is managing to shift an awful lot of coins at $573. Every time the stock of coins available at 573 got low, another 30 would be added, and occasionally 50. This is repeatedly happening, soaking up all of the demand, selling a large position without being too obvious about it.
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