We finally did it! The price is stable!!!

[proudhon]

[1715123481]

1715123481

[hamdi]

wait till i blitz sell all my assetts

[Agent Provocateur]

[adamstgBit]

its official proudhon went short!

or maybe.... he knows that we know he knows... or maybe that we know he knows that we know he knows that we know he knows that we know he knows that we know he knows
 

[N12]

YESSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSS

 

[Hunterbunter]

or maybe.... he knows that we know he knows... or maybe that we know he knows that we know he knows that we know he knows that we know he knows that we know he knows

You know...that you know, you know.

[proudhon]

I'm so happy right now!

[NothinG]

[N12]

[legitnick]

[cypherdoc]

just like right before the explosion.

[N12]

just like right before the explosion.

[chsados]

[Crypt_Current]

just like right before the explosion.

Dude nice pic bro.  I've always dug your avatar pic here as well.  Ima take that there nuke pic and make it my desktop bg 

[proudhon]

Forever stable!

[Crypt_Current]

Forever stable!

Happily ever after!

2012!  The world might as well fucking end.
-- Last year, we got Bin Laden.  So that's it for terror.
-- Got Saddam like what, the year before?  Or the year before that?
-- Then we made this awesome money and now it's STABLE AND EVERYONE CAN USE IT LET'S PARTY LIKE IT'S 1999

[proudhon]

Then we made this awesome money and now it's STABLE AND EVERYONE CAN USE IT LET'S PARTY LIKE IT'S 1999

Yeah!  We did it.  Soon I'll be buying my groceries with stable bitcoins.

[adamstgBit]

i lol'd


its just about to break up again...

but in other news

[proudhon]

i lol'd


its just about to break up again...

but in other news

It's not going anywhere buddy.  This thing is S T A B L E.

[Crypt_Current]

Then we made this awesome money and now it's STABLE AND EVERYONE CAN USE IT LET'S PARTY LIKE IT'S 1999

Yeah!  We did it.  Soon I'll be buying my groceries with stable bitcoins.

It'd be pretty tragic to see people spending BTC on common goods / services right now at the current value, if the extrapolations I've read end up actually manifesting...

I get so fucking sad every time I have to sell some to pay the power / rent   

[cbeast]

[old_engineer]

It'd be pretty tragic to see people spending BTC on common goods / services right now at the current value, if the extrapolations I've read end up actually manifesting...

There's always a non-zero chance that someone will come along and create an alternative blockchain with significantly more favorable properties, like a bounded confirmation time measured in minutes rather than hours, and Bitcoins end up nearly worthless a year from now.

The idea of decentralized crypto-currency is here to stay, there's no doubt about that.  But whether Bitcoin is the solution... that's the real question.

[Hunterbunter]

So it seems a bitcoin is worth $4.90. We all agree!

[markm]

There's always a non-zero chance that someone will come along and create an alternative blockchain with significantly more favorable properties, like a bounded confirmation time measured in minutes rather than hours, and Bitcoins end up nearly worthless a year from now.

The idea of decentralized crypto-currency is here to stay, there's no doubt about that.  But whether Bitcoin is the solution... that's the real question.

I suspect though that there is also a non-zero chance that without being able to point at bitcoin itself and say "see, look, that right there is proof that this stuff works, even without our cool new features" there would be a non-zero chance that it wouldn't only be Trolls In TinFoil Hats who would say "I don't care how much you dress it up, the basic underlying concept just doesn't work, look at what happened to bitcoin fergoshsakes!" resulting in a non-zero chance that... something... that might not as great as being "the best thing since Bitcoin" and might be as bad as "another attempt to flog that same dead horse, lame duck SuperDuperCoin, proposes to speed up the life-cycle of all such un-backed funny-monies..."

-MarkM-

[proudhon]

So it seems a bitcoin is worth $4.90. We all agree!

[Hunterbunter]

So it seems a bitcoin is worth $4.90. We all agree!

I'm going to have nightmares about that.

[pent]

[disclaimer201]

WWLS - What would Lenin say?

[pent]

He wishes new highs to all of us  

[Agent Provocateur]

[max in montreal]

Agent Provocateur...awesome move in the avatar...

[Agent Provocateur]

Agent Provocateur...awesome move in the avatar...

yes, unbelievable! look how he's pulling him around in the very last moment, it looks like it would become a neck breaker but if you trace the move back to where the throw started it just fits so perfect. it seems so easy to do but it's impossible for an average even to come near.

[P_Shep]

Damnit I just want the price to MOVE!

Up, down, I don't care!

[niko]

Damnit I just want the price to MOVE!

Up, down, I don't care!

Why?

[proudhon]

I've confirmed the price stability through SmElliot Wave analysis until 2030.  After that it's anyone's guess.

[adamstgBit]

i agree!

but i think we'll get 20cents price swings 5.10 high 4.9 low

and for 20 year, all we will have to do is...

[waspoza]

OMG stability at last!

[proudhon]

Everything is good!!!1

[da2ce7]

So far this has been the only prediction/observation in quite a while that has proven to be correct for more than 1 day.

[John (John K.)]

So far this has been the only prediction/observation in quite a while that has proven to be correct for more than 1 day.

+1. And the rest fail.

[waspoza]

Bitcoin is stable forever, its official!

[proudhon]

Everyone celebrate forever!

[waspoza]

[notme]

So far this has been the only prediction/observation in quite a while that has proven to be correct for more than 1 day.

I've been harping on the "no up until we see more down" train for the past few days... That hasn't been proven wrong yet.

[gewure]

WWLS - What would Lenin say?

[cypherdoc]

proudhon, i thought you said the price was stable!  you lied to me...

[P_Shep]

Damnit I just want the price to MOVE!

Up, down, I don't care!

Why?

None of your business

[proudhon]

[notme]

So far this has been the only prediction/observation in quite a while that has proven to be correct for more than 1 day.

I've been harping on the "no up until we see more down" train for the past few days... That hasn't been proven wrong yet.

Well, now I have.

[SkRRJyTC]

So far this has been the only prediction/observation in quite a while that has proven to be correct for more than 1 day.

I've been harping on the "no up until we see more down" train for the past few days... That hasn't been proven wrong yet.

Well, now I have.

My short position was proven wrong too 

[waveaddict]

So far this has been the only prediction/observation in quite a while that has proven to be correct for more than 1 day.

I've been harping on the "no up until we see more down" train for the past few days... That hasn't been proven wrong yet.

Well, now I have.

My short position was proven wrong too 

take this as a good learning experience since you probably understand 'now' why I said to wait for the trend to present itself...preserving capital is always going to be more valuable than betting it all on a guess and winning 'sometimes'. Everyone has to learn this the hard way.

[notme]

So far this has been the only prediction/observation in quite a while that has proven to be correct for more than 1 day.

I've been harping on the "no up until we see more down" train for the past few days... That hasn't been proven wrong yet.

Well, now I have.

My short position was proven wrong too 

take this as a good learning experience since you probably understand 'now' why I said to wait for the trend to present itself...preserving capital is always going to be more valuable than betting it all on a guess and winning 'sometimes'. Everyone has to learn this the hard way.

Yeah... I only got into that short on a fat finger, I was just hoping it would work out (<-- also a mistake).  I should have closed for a 1/3 the loss when I had the chance.

[N12]

take this as a good learning experience since you probably understand 'now' why I said to wait for the trend to present itself...preserving capital is always going to be more valuable than betting it all on a guess and winning 'sometimes'. Everyone has to learn this the hard way.

Thankfully the majority of market participants will never learn.

[waspoza]

[BTCurious]

Ahahahahahhaahahahaahhaha

hahaha

ha

This thread.

[cypherdoc]

Price Stability is a myth.  it will never happen.  as long as the Fed has its fingers on the printing press this is what we get = Volatility.

[N12]

Price Stability is a myth.  it will never happen.  as long as the Fed has its fingers on the printing press this is what we get = Volatility.

So the Fed pays traders? Awesome!

[cypherdoc]

Price Stability is a myth.  it will never happen.  as long as the Fed has its fingers on the printing press this is what we get = Volatility.

So the Fed pays traders? Awesome!

what do you think zero % interest rates represent?

[jojo69]

Price Stability is a myth.  it will never happen.  as long as the Fed has its fingers on the printing press this is what we get = Volatility.

So the Fed pays traders? Awesome!

ZIRP bitchez

[proudhon]

You guys ruined it!

[evoorhees]

Price Stability is a myth.  it will never happen.  as long as the Fed has its fingers on the printing press this is what we get = Volatility.

Price stability is not a myth, it's an inevitability. Of course, the price could be "stable" and slowly rising over time as dollars are printed. But large, double digit percentage moves in a week (or a day!) are a temporary affliction of a small and new market.

All prices achieve relative stability in the long run. The question is, "how long" and "at what price stable?"

[proudhon]

It looks like the price is stable again.  Phew.

[N12]

It looks like the price is stable again.  Phew.

Phew.

[cypherdoc]

It looks like the price is stable again.  Phew.

Phew.

slowly but surely.

[SaintFlow]

quick quick sell sell

so it appears stable again

[deepceleron]

Price Stability is a myth.  it will never happen.  as long as the Fed has its fingers on the printing press this is what we get = Volatility.

Bitcoin can still buy the same amount of petrol; dollars can't buy the same amount of Bitcoin.

[friedcat]

Look Ma, the price is stable again!

[proudhon]

Look Ma, the price is stable again!

We did it!  Again!

[friedcat]

Look Ma, the price is stable again!

We did it!  Again!

Let's celebrate!

[waspoza]

[hazek]

HAhahaha I just love the trolling in this thread  I wish you guys would get the chance to troll The Bernank sometime, that would be one hell of a ze price stebeeleete show.

[BadBear]

[proudhon]

I lol'd.

[disclaimer201]

I lol'd.

Resistance to $5.50 is futile!

[Agent Provocateur]

resistance is futile!

[cloon]

resistance is futile!

+1
one of the best

[proudhon]

As far as I can tell, we've been in a narrower price range for longer than any other time period since trading began.  So, yeah, congrats everyone.  I was right.  We finally did it!  Stability!!!

[DeathAndTaxes]

Price Stability is a myth.  it will never happen.  as long as the Fed has its fingers on the printing press this is what we get = Volatility.

Why would printing lead to volatity.  Isn't volatility the unexpected.  If you know with absolute certainty the fed will keep printing you (and other traders, models, and bots) will anticipate that and build it into expectations.

Now if the FED stopped printing .... well I will just stop right there that would be like saying if the earth stopped turning.

[disclaimer201]

Price Stability is a myth.  it will never happen.  as long as the Fed has its fingers on the printing press this is what we get = Volatility.

Why would printing lead to volatity.  Isn't volatility the unexpected.  If you know with absolute certainty the fed will keep printing you (and other traders, models, and bots) will anticipate that and build it into expectations.

Now if the FED stopped printing .... well I will just stop right there that would be like saying if the earth stopped turning.

Actually, what would happen if they did stop? Hyperinflation isn't something funny last time I checked my history on the Weimar Republic. A loaf of bread for $10 million this morning, and in the late afternoon it'll cost twice as much. Ouch. Esp. if you never owned 1 million. Is the FED stupid?

[waspoza]

OMG bitcoin is stable forever, lets celebrate!

[proudhon]

[Agent Provocateur]

[notme]

http://i1264.photobucket.com/albums/jj488/spinegod/gifs2/1f779a8d.gif

Ummm..... WTF?

Anyway, price action is getting boring, who's ready for the knife?

[proudhon]

Anyway, price action is getting boring, who's ready for the knife?

[Agent Provocateur]

http://i1264.photobucket.com/albums/jj488/spinegod/gifs2/1f779a8d.gif

Ummm..... WTF?

price-stability relation equals known showman fingering unknown showkid

Anyway, price action is getting boring, who's ready for the knife?

ready since ancient times

[Spekulatius]

[Agent Provocateur]

uhhh, cum to me! do u want me to eat some? slow, hard, soft or all the above, baby?


sorry, a litte offtopic but as you can see your visual and spatial interferences in deductive reasoning equals price-stability-relationship here, too!

[miscreanity]

just like right before the explosion.

Yyyyyyyup.

"We" didn't stabilise anything - bigger markets are in a general malaise right now, which means their influence is not adversely affecting smaller markets as much... for the time being.

Enjoy this calm while it lasts - I don't think we'll have it for more than a month or two.

And holy crap, how did this thread go from stupid to pedo in 0.4 nanoseconds?

[notme]

just like right before the explosion.

Yyyyyyyup.

"We" didn't stabilise anything - bigger markets are in a general malaise right now, which means their influence is not adversely affecting smaller markets as much... for the time being.

Enjoy this calm while it lasts - I don't think we'll have it for more than a month or two.

And holy crap, how did this thread go from stupid to pedo in 0.4 nanoseconds?

I blame the Agent.

[waspoza]

And holy crap, how did this thread go from stupid to pedo in 0.4 nanoseconds?

Taking thread back on track:

[Agent Provocateur]

just like right before the explosion.

Yyyyyyyup.

"We" didn't stabilise anything - bigger markets are in a general malaise right now, which means their influence is not adversely affecting smaller markets as much... for the time being.

Enjoy this calm while it lasts - I don't think we'll have it for more than a month or two.

And holy crap, how did this thread go from stupid to pedo in 0.4 nanoseconds?

I blame the Agent.

please look at the thread carefully, who started posting gay tv clowns in nasty poses? foolhardy and evident boomeranging! damn, why is it always me?

[notme]

And holy crap, how did this thread go from stupid to pedo in 0.4 nanoseconds?

Taking thread back on track:

Back on track we go.

[proudhon]

This means nothing.  We're still in the narrow trading range.  Stability forever!

[notme]

This means nothing.  We're still in the narrow trading range.  Stability forever!

You may be right... 10 cents and people are going crazy over the massive action.

[adamstgBit]

bitcoin is stable!

beat inflation and dump your life savings into bitcoin

[notme]

bitcoin is stable!

beat inflation and dump your life savings into bitcoin

+1

[RyNinDaCleM]

You may be right... 10 cents and people are going crazy over the massive action.

It is massive in relative terms.

[notme]

You may be right... 10 cents and people are going crazy over the massive action.

It is massive in relative terms.

Meh...

[adamstgBit]

You may be right... 10 cents and people are going crazy over the massive action.

It is massive in relative terms.

Meh...

you see the volume is still their, so why in the world is bitcoin "stable"

my guess is:

bitcoin is growing, but at the same time the "lucky bitcoin millionaires" are looking to secure at least part of their well earned bitcoin wealth, by cashing out and buying gold or something.
once they have all cashed out, the selling pressure will stop. breaking 5$ was a big signal, the lucky bitcoin millionaires are running low on bitcoins.

this is very good news,

bitcoin user base expanding, coins more evenly divided
bitcoiners are becoming more financially secure, and less effected by price swings, allowing them to more effectively "back" bitcoin

[RyNinDaCleM]

You may be right... 10 cents and people are going crazy over the massive action.

It is massive in relative terms.

Meh...

Well, granted, the chart you linked makes this move look minute, but perhaps it was the necessary nudge to possibly ignite a rally.

In a market that used to see $.10 moves 10 times a day, then to have two solid weeks in a ten cent range, or the last month in about $.20 range, I don't think it's exactly overreaction to get excited. We're about to break the $5.07 resistance too. Maybe this was the kick in the ass people needed to act upon.

[adamstgBit]

You may be right... 10 cents and people are going crazy over the massive action.

It is massive in relative terms.

Meh...

Well, granted, the chart you linked makes this move look minute, but perhaps it was the necessary nudge to possibly ignite a rally.

In a market that used to see $.10 moves 10 times a day, then to have two solid weeks in a ten cent range, or the last month in about $.20 range, I don't think it's exactly overreaction to get excited. We're about to break the $5.07 resistance too. Maybe this was the kick in the ass people needed to act upon.

5.09899 

breaking 5$ over and over, and now a bid wall fallowing the rally = Bye bye 4.xx$ for good

i think the price will "cost up" how high will it cost before we see serious resistance again?

8$

[proudhon]

You may be right... 10 cents and people are going crazy over the massive action.

It is massive in relative terms.

Meh...

you see the volume is still their, so why in the world is bitcoin "stable"

my guess is:

bitcoin is growing, but at the same time the "lucky bitcoin millionaires" are looking to secure at least part of their well earned bitcoin wealth, by cashing out and buying gold or something.
once they have all cashed out, the selling pressure will stop. breaking 5$ was a big signal, the lucky bitcoin millionaires are running low on bitcoins.

this is very good news,

bitcoin user base expanding, coins more evenly divided
bitcoiners are becoming more financially secure, and less effected by price swings, allowing them to more effectively "back" bitcoin

Not impressed.  I don't think things are going to look much different a month or so out.  How many times have we broken $5 now?

[arepo]

Not impressed.  I don't think things are going to look much different a month or so out.  How many times have we broken $5 now?

there is ample reason to believe that this time will be different

[adamstgBit]

You may be right... 10 cents and people are going crazy over the massive action.

It is massive in relative terms.

Meh...

you see the volume is still their, so why in the world is bitcoin "stable"

my guess is:

bitcoin is growing, but at the same time the "lucky bitcoin millionaires" are looking to secure at least part of their well earned bitcoin wealth, by cashing out and buying gold or something.
once they have all cashed out, the selling pressure will stop. breaking 5$ was a big signal, the lucky bitcoin millionaires are running low on bitcoins.

this is very good news,

bitcoin user base expanding, coins more evenly divided
bitcoiners are becoming more financially secure, and less effected by price swings, allowing them to more effectively "back" bitcoin

Not impressed.  I don't think things are going to look much different a month or so out.  How many times have we broken $5 now?

thats just the thing "How many times have we broken $5 now?"

many times...

why is this time different from the other times?

because the other times we broke 5$ only a few times, and now its many times, get it?  

[miscreanity]

Weak leveraged positions have been mostly wrung out. External sources of demand for Bitcoins have remained steady, and there remains a consistent inflow - it takes about USD$250,000 per week to maintain the $5/BTC level.

I think the situation is similar to that in the gold futures market - forced liquidation of leveraged positions allows for suppression, but only to the point where there are no more weak margin trades left to squeeze. We're now at that point - there aren't enough distressed sellers, so it's time for whatever pump & dump shenanigans to be executed by those with enough resources to do it (bankers).

If malicious whales can get away with it in markets that are supposed to be regulated, you bet they'll do it in a market that has no regulation at all.

[publio]

I'm not sure we can count all, maybe most, mining revenue as an outflow ($250,000/week). 

People mine either because of their interest in bitcoin, or for profit.  If it's for profit, the miner must think that the price of bitcoins will not fall below a certain level for an extended period of time (until they breakeven).  I think such trust suggests that they're at least slightly bullish.  These miners probably keep some of their earnings.

As for costs, such as hardware/electricity? This is the cost of buying (mining) coin.

[terrytibbs]

G... Gavin? Is... Is that you?

[miscreanity]

I'm not sure we can count all, maybe most, mining revenue as an outflow ($250,000/week). 

There's nothing explicitly involving miners or profitability, I'm just referring to the exchange valuation.

An expanding unit base dilutes the value of all units within the Bitcoin system. To keep the exchange rate stable, that currently requires about $250k of wealth flowing into the Bitcoin economy each week from outside sources (EUR, GBP, JPY, USD, etc).

With the kick above $5/BTC to ~$5.40 now, the weekly inflow necessary to maintain the exchange rate is a little over $270k.

[Agent Provocateur]

G... Gavin? Is... Is that you?

obviously not!

[Sitarow]

I'm not sure we can count all, maybe most, mining revenue as an outflow ($250,000/week). 

There's nothing explicitly involving miners or profitability, I'm just referring to the exchange valuation.

An expanding unit base dilutes the value of all units within the Bitcoin system. To keep the exchange rate stable, that currently requires about $250k of wealth flowing into the Bitcoin economy each week from outside sources (EUR, GBP, JPY, USD, etc).

With the kick above $5/BTC to ~$5.40 now, the weekly inflow necessary to maintain the exchange rate is a little over $270k.

You forgot about groups that plan to keep their Mined BTC. Instead of pulling out they reinvest into BTC that way.

[miscreanity]

You forgot about groups that plan to keep their Mined BTC. Instead of pulling out they reinvest into BTC that way.

That has basically the same effect as bank reserves not being lent out: it just delays things - in this case exchange rate movement. The aggregate effect would be like pooling the weekly inflow requirements and unleashing it monthly instead, necessitating $1mm rather than $250k (or ~$36k/day).

Reinvesting can actually generate real wealth, which is a whole 'nother (potentially very powerful) dynamic. I do expect that to build, but right now the economy is so small that the effect is minimal.

[proudhon]

Still on track despite worries of another big drop.

[waspoza]

We are stable forever!

[old_engineer]

Not impressed.  I don't think things are going to look much different a month or so out.  How many times have we broken $5 now?

there is ample reason to believe that this time will be different

It's been almost a month, doesn't look like that particular bump over $5 was different, does it?

I've been all out for a few months now, and if price drops to $4.50, I'd put in $20k USD or so.  But that's almost noise at that point, seeing as how it's $177K USD to $4.80.

"I used to be a player, but now I'm just noise." - old_engineer

[waspoza]

Thats it! We are stable forever!

[BTCurious]

[SkRRJyTC]

If there is no trading volume the price will stay the same right?

Stability!

[SkRRJyTC]

If there is no trading volume the price will stay the same right?

Stability!

Ha! I was the last one to bump this...

$10 FOREVER 

[BTCurious]

If there is no trading volume the price will stay the same right?

Stability!

Ha! I was the last one to bump this...

$10 FOREVER 

Hahahaha


Yep.

[molecular]

If there is no trading volume the price will stay the same right?

Stability!

Ha! I was the last one to bump this...

$10 FOREVER 

Hahahaha


Yep.

selling options?

[proudhon]

If we're lucky the price will head back into the $5 stable zone and stay there...forever!!!

[waspoza]

[mobodick]

OMG The price is stable!
Quick everyone! Do nothing !!
OMG OMG OMG..
What if the price becomes so stable that we need to use satochis??
OMG this is KILLER>.
Do nothing NOW!

[kentrolla]

quick! everyone panic hold!

[molecular]

quick! everyone panic hold!

lol!

[deepceleron]

If we're lucky the price will head back into the $5 stable zone and stay there...forever!!!

That would be quite sad. Bill Gates would only be able to put 0.17% of his net worth into Bitcoin (by owning them all). We shouldn't ostracize billionaires from our club.

The second $10 million you try to spend buying BTC will likely get you far fewer than the first $10 million.

[molecular]

If we're lucky the price will head back into the $5 stable zone and stay there...forever!!!

That would be quite sad. Bill Gates would only be able to put 0.17% of his net worth into Bitcoin (by owning them all). We shouldn't ostracize billionaires from our club.

He wouldn't be able to. I'd probably sell him my last bitcoin for all his other assets, though.

[ElectricMucus]

If we're lucky the price will head back into the $5 stable zone and stay there...forever!!!

That would be quite sad. Bill Gates would only be able to put 0.17% of his net worth into Bitcoin (by owning them all). We shouldn't ostracize billionaires from our club.

He wouldn't be able to. I'd probably sell him my last bitcoin for all his other assets, though.

What concerns me more is that he seems to be the kind of person that often tries to cannibalize and wreck great projects, like bitcoin.

[mobodick]

If we're lucky the price will head back into the $5 stable zone and stay there...forever!!!

That would be quite sad. Bill Gates would only be able to put 0.17% of his net worth into Bitcoin (by owning them all). We shouldn't ostracize billionaires from our club.

The second $10 million you try to spend buying BTC will likely get you far fewer than the first $10 million.

In reality, yes. I was running with prodhon's hopes of $5 forever.

Hope is cheap. I'll sell you some for BTC10,-

[JMAHH]

Sorry. I just had to do this. Hurray for volatility?

[de3mka]

quick! everyone panic hold!

I love this thread..
deserves to be bumped.

[oda.krell]

quick! everyone panic hold!

I love this thread..
deserves to be bumped.

Haha, awesome find. Bit before my time, but love to see proudhon, adam, ElectricMucus have been like this for time immemorial

[disclaimer201]

Let's see for how long. I just sold some Coins so I bet we will see 2000 Dollars next week. Ha.

[Mythul]

The moon is at the same distance as yesterday

[Wyld]

So glad we're stable again!

[seleme]

If we're lucky the price will head back into the $5 stable zone and stay there...forever!!!

erm... 

[Mouser]

erm is right.

Proudhon's $5 'stable' zoon has become the $800 "stable" zone in under three years.

[MindGrenade]

Dear Proudhon,

Can you please say the price is stable and/or be excessively bearish so the price can rise by 250 times again.

Thanks,
The Bitcoin Community.

[jojo69]

ROFLbump

[chessnut]

ROFLbump

lmao........ the floor is always stable.