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Author Topic: Oh the Cognitive Dissonance  (Read 1934 times)
Blitz­
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"Cut Your Loose"


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February 16, 2012, 07:54:32 PM
 #1

Can you feel it?

Does it hurt?

I can sense it.

"Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice." - MatTheCat
"these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room." - ShroomsKit
According to NIST and ECRYPT II, the cryptographic algorithms used in Bitcoin are expected to be strong until at least 2030. (After that, it will not be too difficult to transition to different algorithms.)
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teflone
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You're fat, because you dont have any pics on FB


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February 16, 2012, 08:05:42 PM
 #2

I farted.. sorry...    Embarrassed

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February 16, 2012, 08:34:36 PM
 #3

Nope

If you like my post please feel free to give me some positive rep https://bitcointalk.org/index.php?action=trust;u=18639
Tip me BTC: 1FBmoYijXVizfYk25CpiN8Eds9J6YiRDaX
Blitz­
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February 17, 2012, 12:42:20 AM
 #4

Can you feel it now, Bears? Can you feel the cognitive dissonance now?

Will you recognize it early enough to get your coins back, and perhaps some more?

"Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice." - MatTheCat
"these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room." - ShroomsKit
Oldminer
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February 17, 2012, 12:45:23 AM
 #5

Can you feel it now, Bears? Can you feel the cognitive dissonance now?

Will you recognize it early enough to get your coins back, and perhaps some more?

lol. Dud rocket....

Just wait til the weekend sellers arrive..

If you like my post please feel free to give me some positive rep https://bitcointalk.org/index.php?action=trust;u=18639
Tip me BTC: 1FBmoYijXVizfYk25CpiN8Eds9J6YiRDaX
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February 17, 2012, 12:53:20 AM
 #6

Can you feel it now, Bears? Can you feel the cognitive dissonance now?

Will you recognize it early enough to get your coins back, and perhaps some more?

lol. Dud rocket....

Just wait til the weekend sellers arrive..

You mean the ones that already sold all their coins this week?
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February 17, 2012, 12:54:43 AM
 #7

Can you feel it now, Bears? Can you feel the cognitive dissonance now?

Will you recognize it early enough to get your coins back, and perhaps some more?

lol. Dud rocket....

Just wait til the weekend sellers arrive..

You mean the ones that already sold all their coins this week?

Hey Oldminer, even proudhon's more bullish than you.  I'd change my mind if I were you Wink

(BFL)^2 < 0
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February 17, 2012, 12:55:21 AM
 #8

Can you feel it now, Bears? Can you feel the cognitive dissonance now?

Will you recognize it early enough to get your coins back, and perhaps some more?

lol. Dud rocket....

Just wait til the weekend sellers arrive..

You mean the ones that already sold all their coins this week?

Hey Oldminer, even proudhon's more bullish than you.  I'd change my mind if I were you Wink

Nah Im longterm short  Grin

Oh, and I like it when I share a minority view of the market.

If you like my post please feel free to give me some positive rep https://bitcointalk.org/index.php?action=trust;u=18639
Tip me BTC: 1FBmoYijXVizfYk25CpiN8Eds9J6YiRDaX
ineededausername
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bitcoin hundred-aire


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February 17, 2012, 01:03:48 AM
 #9

Nah Im longterm short  Grin

Oh, and I like it when I share a minority view of the market.

Roll Eyes

We've got another proudhon here Sad

(BFL)^2 < 0
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February 17, 2012, 01:06:07 AM
 #10

I think I'm going to join the proudhons for now. Bitcoin needs a period of extended hyperinflation so it can see more economic use. Of course, need is not the same as will happen, but since I hope the price will go down anyways I'm effectively short.
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February 17, 2012, 01:10:13 AM
 #11

proudhon, proudhon, we've got proudhon here!


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Jon
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February 17, 2012, 01:13:15 AM
 #12

Bitcoin needs a period of extended hyperinflation so it can see more economic use.

Yes, that would work flawlessly(!) It's not like people come to Bitcoin as a store-of-value(!)

The Communists say, equal labour entitles man to equal enjoyment. No, equal labour does not entitle you to it, but equal enjoyment alone entitles you to equal enjoyment. Enjoy, then you are entitled to enjoyment. But, if you have laboured and let the enjoyment be taken from you, then – ‘it serves you right.’ If you take the enjoyment, it is your right.
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"Cut Your Loose"


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February 17, 2012, 01:17:54 AM
 #13

Nah Im longterm short  Grin

Oh, and I like it when I share a minority view of the market.
1. Good, then you won’t mind this weekend rally.

2. Minority view? Have you had a look at the all-time daily chart volumes? You are the sheep.

"Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice." - MatTheCat
"these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room." - ShroomsKit
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February 17, 2012, 01:50:35 AM
 #14

I think I'm going to join the proudhons for now. Bitcoin needs a period of extended hyperinflation so it can see more economic use.

The best is a high price. This will draw a lot of attention to Bitcoin!

https://www.bitbuy.nl - Koop eenvoudig, snel en goedkoop bitcoins bij Bitbuy!
Bitcointalk topic over Bitbuy!
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February 17, 2012, 02:33:59 AM
 #15

I can still smell your denial.

You cannot comprehend what just happened. Must just be a brief bounce, we’ll have new lows in a few days. Right?

Have you had a look at the alltime daily chart with volumes? What does it tell you?

"Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice." - MatTheCat
"these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room." - ShroomsKit
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February 17, 2012, 02:45:11 AM
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I can still smell your denial.

You cannot comprehend what just happened. Must just be a brief bounce, we’ll have new lows in a few days. Right?

Have you had a look at the alltime daily chart with volumes? What does it tell you?

Correlation between volume and price?   

1smracer15yDLhJG27fd7GV3tegcNjtg2
Blitz­
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February 17, 2012, 02:48:05 AM
 #17

Extremely high volume selloffs - and this time even multi-day - mark capitulation.

We had a nice capitulation. I can safely hold your Bitcoins now for a while thanks to you fools. Finally.

"Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice." - MatTheCat
"these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room." - ShroomsKit
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February 17, 2012, 02:48:28 AM
 #18

Can you feel it now, Bears? Can you feel the cognitive dissonance now?

Will you recognize it early enough to get your coins back, and perhaps some more?

We shouldnt rejoyce too early! There is no breakout of the downturn, unless 4.80 $ and later the weeker resistance of 4.90 $ is broken.
Furthermore, we are dancing on the edge here (support at 4.30 $).



Hope you dont develop a cognitive dissonance from that Blitzboom Wink
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February 17, 2012, 02:51:43 AM
 #19

Zoom out and look at the alltime chart + volumes. The resistance is meaningless. What people have done for 6 days consecutively now will break it without a problem. The question is how much resistance the broken long-term trendline will pose in the mid 5s.

But I’ll remember your view, thanks for the reminder.

"Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice." - MatTheCat
"these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room." - ShroomsKit
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February 17, 2012, 04:03:59 AM
 #20

Zoom out and look at the alltime chart + volumes. The resistance is meaningless. What people have done for 6 days consecutively now will break it without a problem. The question is how much resistance the broken long-term trendline will pose in the mid 5s.

But I’ll remember your view, thanks for the reminder.

Lets look at some indicators:



+ The volume you mentioned is indeed indicating a declining selling interest. What a rising price needs now however is rising volume with the price going up at the same time to confirm a recovery. Unless the breakout (look my 2 posts up) at around 4.8 $ is not achieved the intermediate recovery could only be called consolidation and is bound to go down further.
+ RSI is positive (but could down further)
+ We have reached pre-rally level (most bubbles I know of ease out around or sligthly above this level)

- EMA 10 and 21 are negative
- Parabolic SAR is negative as well (not in picture)
- overall market sentiment didnt reach capitulation/despondence yet in my perception
- lots of FUD lately, new bad news every day (FINCen, bitcoinica legal complaint,..)
- in order to generate a positive indicator the "cup & handle" chart pattern visible in every 5 day intervall needs to close above 4.9$, otherwise a further drop is likely

+- What are Manipulators doing? Not much activity lately --> A impending major move becomes more and more likely the more we progress in time

In conclusion, I am more bearish rigth now. Everything depends on a breakthrough 4.8$ (4.9$) to confirm or reverse these indicators.

Thanks for sharing your views Kiss
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