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DustyRah (OP)
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April 28, 2014, 12:41:39 AM
Last edit: April 28, 2014, 01:58:35 AM by DustyRah |
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Please hold on to your precious and we will see how you feel when it gets into the 300s.
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
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Malin Keshar
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April 28, 2014, 12:47:52 AM |
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sold earlier to buy lower, and now is 3% lower. Hope we go to sub 400, like the last chinese ban
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deemac87
Newbie
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Activity: 23
Merit: 0
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April 28, 2014, 03:08:35 AM |
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The lines have crossed and the drop to next level is coming along. I would strongly advice peeps to drop their load right about now while you got a chance.
I am not happy saying the above but that's what its about and a sincere shout out to homies~
Yeah right, nows the time buy. Its gonna take ALOT to totally kill off bitcoin |
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TERA
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April 28, 2014, 03:26:00 AM |
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The lines have crossed
best TA ever AGreed ...OMG the MACD lines are crossing under thats a 100% sell signal ....lolz Crypto does not really do TA that well..having said that sure sell now in a bearish market ...lets see where we are @ with teh china crpola Im all in so really dont care... I am buying all the way down  LTC sub 10 ...yumm yumm  Unless you jokers are predicting teh demise of crypto .... ho hum to the chinese ping pong ...BAN=Ping UN-BAN=Pong Actually I wasn't sharing any of your thoughts against TA. I just thought it was funny how he vague he was and didn't mention WHICH lines were crossing. |
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shmadz
Legendary
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Activity: 1512
Merit: 1000
@theshmadz
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April 28, 2014, 03:35:59 AM |
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I must agree with the OP. As the price continues to drop, I continue to bail the F out... of fiat!   |
"You have no moral right to rule us, nor do you possess any methods of enforcement that we have reason to fear." - John Perry Barlow, 1996
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YipYip
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April 28, 2014, 03:37:34 AM |
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OBJECT NOT FOUND
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Heider
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Activity: 54
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April 28, 2014, 05:12:01 AM |
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The lines have crossed and the drop to next level is coming along. I would strongly advice peeps to drop their load right about now while you got a chance.
I am not happy saying the above but that's what its about and a sincere shout out to homies~
DustyRah; not sure which lines you were looking at, but your'e damn right!, looking at the price, it's down almost $100 from 3 days ago. The price at this second is $426 not sure what the heck is wrong with it, but it seems to keep going down so far, I hope it comes back to live again... Regards Heider |
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Edward50
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April 28, 2014, 05:21:05 AM |
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I am a long term bear, but I must say that I feel a big drop coming.
This recent rally was a laugh, and I knew it would not be long before it would test the $300's lows.
Everything is ripe for a big drop. The rally failed and the big reason is volume has dried up as the price continues to fall.
People still do not realize that bitcoin has rose too fast and should not be priced at these levels especially without the Chinese not being able to use it to launder money.
My feeling is that we will be in the $200's shortly.
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Empty your mind, be formless, shapeless — like water. Now you put water in a cup, it becomes the cup; You put water into a bottle it becomes the bottle; You put it in a teapot it becomes the teapot. Now water can flow or it can crash. Be water, my friend.
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ionide
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Activity: 5
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April 28, 2014, 05:23:34 AM |
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The lines have crossed and the drop to next level is coming along. I would strongly advice peeps to drop their load right about now while you got a chance.
I am not happy saying the above but that's what its about and a sincere shout out to homies~
"pls everyone panic sell me BTC for pennies on the dollar pls" -DustyRah |
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Einewton
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April 28, 2014, 05:43:48 AM |
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Dude, Awesome graph MNDan.. Finally some brains around here.. All though, I don't think it's going to get any better soon.. Right now we are seeing a 30 -> $2 type trend.. Wouldn't be a bad idea to improve your coin count right about now. |
-= Got BitCoin? =-
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TERA
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April 28, 2014, 06:07:16 AM |
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I must agree with the OP. As the price continues to drop, I continue to bail the F out... of fiat! So, your strategy is to continually buy into a losing position, compounding the rate of loss each time? Yes, good pic of what you are doing with your money indeed. |
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blatchcorn
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April 28, 2014, 06:48:35 AM |
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I must agree with the OP. As the price continues to drop, I continue to bail the F out... of fiat! So, your strategy is to continually buy into a losing position, compounding the rate of loss each time? Yes, good pic of what you are doing with your money indeed. The ones who are buying and holding now will be trillionaires shortly |
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TERA
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April 28, 2014, 07:00:36 AM |
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So you have some opinion of bitcoin reaching some ridiculously high price in the future based on some lofty speculations. Great for you. That STILL doesn't mean you have to gamble with your money in the present trend. If you simply wait until the 1W MACD crosses up and buy then, you will most likely perform much better than you are doing with your attempts to try to 'average down' or guesstimate the bottom. Right now 1W EMAs are at 500/535 and declining, meaning it wont get above those levels without a 1W MACD cross. There's a small chance that 1W MACD will perform just a little bit more poorly than your strategy but in in that case it would be a negligible amount and you wont be left behind by any means. As an added bonus, you will be removing yourself from the risk of total loss if there is some catastrophic event with bitcoin in the meantime, and you be able to keep your capital to make profit on other trades before the signal is given.
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DustyRah (OP)
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April 28, 2014, 02:13:37 PM |
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The ones who are buying and holding now will be trillionaires shortly
They would already have been billionaires if they were so smart to begin with. lol! |
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master-P
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April 28, 2014, 03:16:38 PM |
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The ones who are buying and holding now will be trillionaires shortly
Why not quadrillionaires? No need to be excessively bearish  |
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HappyFunnyFoo
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April 28, 2014, 10:15:10 PM |
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The fad phase of the past three years is over and bitcoin's price should unwind to nearly $0.
1. Intrinsic value is worth next to nothing, possibly not even pennies. Buffett's right - Bitcoin is no more than a decentralized money order with the added drawback of long-term capital gains tax on any price fluctuation.
2. Price is supported 99.9% by speculation, 0.01% by intrinsic value. People using bitcoin for its intended purpose are in the minority.
3. Most speculators are still long coins and haven't capitulated yet. There's MASSIVE bearish downside potential from all of the longs who haven't seen a really big bear market yet.
4. Price catalysts are exhausted. Virtually all potential early adopters with capital have put their money in already. There's not a constant flow of fresh capital to sustain a bubble doubling every 6 months, so some sort of unwinding down to intrinsic value ($0.01 per coin) is more likely to occur than not.
5. Downtrend has sustained momentum for 5 months. The current bear market has beaten all previous price collapses, which rallied after 3 months and showed decreased momentum after 1-2 months and a sudden, sharp rally at the 3rd month. In more general terms, "this time IS different." In percentage terms, the current collapse is accelerating.
6. Media attention rallied the price after all of the other bear markets due to drawing in more early adopters, but this time it's generally causing longs to lose interest and sell since the early-adopter well has dried up and the mainstream definitely isn't going to use bitcoin.
Disclosure: I don't own bitcoin! Just saying it like it is!!
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YipYip
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April 28, 2014, 10:27:11 PM |
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The fad phase of the past three years is over and bitcoin's price should unwind to nearly $0.
1. Intrinsic value is worth next to nothing, possibly not even pennies. Buffett's right - Bitcoin is no more than a decentralized money order with the added drawback of long-term capital gains tax on any price fluctuation.
2. Price is supported 99.9% by speculation, 0.01% by intrinsic value. People using bitcoin for its intended purpose are in the minority.
3. Most speculators are still long coins and haven't capitulated yet. There's MASSIVE bearish downside potential from all of the longs who haven't seen a really big bear market yet.
4. Price catalysts are exhausted. Virtually all potential early adopters with capital have put their money in already. There's not a constant flow of fresh capital to sustain a bubble doubling every 6 months, so some sort of unwinding down to intrinsic value ($0.01 per coin) is more likely to occur than not.
5. Downtrend has sustained momentum for 5 months. The current bear market has beaten all previous price collapses, which rallied after 3 months and showed decreased momentum after 1-2 months and a sudden, sharp rally at the 3rd month. In more general terms, "this time IS different." In percentage terms, the current collapse is accelerating.
6. Media attention rallied the price after all of the other bear markets due to drawing in more early adopters, but this time it's generally causing longs to lose interest and sell since the early-adopter well has dried up and the mainstream definitely isn't going to use bitcoin.
Disclosure: I don't own bitcoin! Just saying it like it is!!
Why are you toe raggs even here  Seriously ChatRoulette is the place for you guys...  |
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Bitcoin BEAR
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April 28, 2014, 10:34:34 PM |
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I must agree with the OP. As the price continues to drop, I continue to bail the F out... of fiat! Way to just throw your money away. Did you know that it takes a 200% profit to break even on a 50% loss? Something to think about! It grows exponentially too |
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UnDerDoG81
Legendary
Offline
Activity: 2179
Merit: 1201
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April 29, 2014, 12:25:15 AM |
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Until something outstanding happens, I think the op is right. This 450 looks like another drop before the next drop to sub 400. We went all the way down from 800 to 750 to 690 to 666 to 580 to 520 to 490 and so on... Slowly and painfully.
I hope I wrong but I don't see any light in the dark at the moment :/
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