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Author Topic: sideways for so long now....  (Read 4753 times)
jubalix
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August 11, 2014, 12:16:08 AM
 #1

stability like this generally precedes growth....but damn if it isn't boring

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windjc
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August 11, 2014, 12:29:01 AM
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stability like this generally precedes growth....but damn if it isn't boring

It could go on for a while. Let's see how we feel in October.

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lemfuture
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August 11, 2014, 12:30:01 AM
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patience is a virtue

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Ibian
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August 11, 2014, 02:54:52 AM
 #4

patience is a virtue
Is it? Let's while away the time with a bit of philosophy.

According to Aristotle, wisdom is living according to the virtues. But not too much, and not too little. For example, too little courage is cowardice, and too much is recklessness. Lack of patience is impatience, and too much patience is... what?

There is no bubble.
EricTyle
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August 11, 2014, 04:08:56 AM
 #5

too much patience is...

Boring as shit

Benjig
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August 11, 2014, 04:28:25 AM
 #6

Stability is good sometimes.. it enables projects based on bitcoin price to succed.. when it is climbing hugely or dropping no one wants to invest or do other business with their btcs..

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August 11, 2014, 04:36:25 AM
 #7

too much patience is...

Boring as shit
Points for honesty! Another fine virtue!

There is no bubble.
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August 11, 2014, 04:40:54 AM
 #8

patience is a virtue
Is it? Let's while away the time with a bit of philosophy.

According to Aristotle, wisdom is living according to the virtues. But not too much, and not too little. For example, too little courage is cowardice, and too much is recklessness. Lack of patience is impatience, and too much patience is... what?

Weakness!
If you can wait forever, you may never see what it is you are waiting for.

Perhaps better put;
Too much patience leads to missed opportunity while you wait for that one thing.

Cluster2k
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August 11, 2014, 05:27:19 AM
 #9

I personally prefer the price to be pretty stable instead of pumping and dumping by 10 or 20% per day.  That might make the day traders happy but outsiders who are looking to do real business using bitcoin aren't going to be too happy about adjusting their prices several times a day to account for value fluctuations.

A steady price also makes us look less like a get rich quick scheme designed to separate people from their money.

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August 11, 2014, 05:31:19 AM
 #10

Mondays sometimes has some interesting moves, like recovers from weekend pumps/dumps, or the continuation of moves stopped due to weekend.

So today may be a good day.
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August 11, 2014, 05:43:34 AM
 #11

For Bitcoin standards it is sideways and boring if you HODL (nothing wrong with a good number of HODL-coins).

If you look closely it is fluctuating by full percentages every day/week.
This sideways market has made me look into automated trading which has more than a little potential.
I believe you could still double your BTC each year in this sideways market.
With a bubble you can trade all the way to 30-50x your BTC if you have a good bot/script/ea.

Bitcoin is like a box of chocolates. You never know what you're gonna get !!
jaberwock
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August 11, 2014, 05:57:35 AM
 #12

We need momentum to move, either moonwards or 0-ards.

devphp
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August 11, 2014, 06:02:42 AM
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Expect sideways to the end of September, it's still vacation time, economic activity tends to start to pick up end of Sept - beginning of Oct.
Chicowash
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August 11, 2014, 06:16:04 AM
 #14

Expect sideways to the end of September, it's still vacation time, economic activity tends to start to pick up end of Sept - beginning of Oct.

Totally agreed to this, it is still low activity period, that is why we see these sideway movements only.
Buffer Overflow
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August 11, 2014, 06:27:18 AM
 #15

Goes up. It's a bubble.
Goes down. It's crashing.
Goes sideways. It's boring.

Poor bitcoin. Damned if it does, damned if it doesn't.

scarsbergholden
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August 11, 2014, 06:29:56 AM
 #16

Stability is good sometimes.. it enables projects based on bitcoin price to succed.. when it is climbing hugely or dropping no one wants to invest or do other business with their btcs..

The thing is, a few weeks of sideways is not "stability". At these kind of volumes, especially, this sort of sideways usually ends of squeezing into a powerful, volatile move.

If we were trading for several months at high volumes in a tight range like this, I might call it stability.

negafen
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August 11, 2014, 06:32:32 AM
 #17

Can't stay at this price for long as network difficulty keeps going up.
scarsbergholden
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August 11, 2014, 06:35:18 AM
 #18

Can't stay at this price for long as network difficulty keeps going up.

What are you implying? At some point, in theory, if price can't keep up with difficulty, might difficulty just drop as the unprofitable miners drop out?

fdiini
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August 11, 2014, 07:18:41 AM
 #19

Can't stay at this price for long as network difficulty keeps going up.

What are you implying? At some point, in theory, if price can't keep up with difficulty, might difficulty just drop as the unprofitable miners drop out?

The current batch of S3 miners has negative expectation of ROI. So, even if the difficult drop, the cost basis is still fairly high for coin production.
Bitcoins101
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August 11, 2014, 08:03:39 AM
 #20

Sideways action like this does not always mean a positive volatile price move. In my opinion, BTC is actually looking kind of weak right now. I'd keep money in fiat until further notice.
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