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Author Topic: Wall Observer - MtGoxUSD wall movement tracker  (Read 1808822 times)
Spaceman_Spiff
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March 27, 2013, 07:56:11 PM
 #16081

Do it for any asset.

You are the fanatic here, btw. But lets not get into that, I know it's a common arguing tactic.
Just tell me any asset which only went up, no metaphors.

How many assets do you know that have existed for only 4 years?
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mccorvic
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March 27, 2013, 07:56:46 PM
 #16082

Big fight going on between $87 and $89. Wonder which side will win out in the short term.

At worst, we dip to like 85 or 86 until the Asians and Euros take over again and bump it up while the American bears sleep.

This is the fallacy in your argument. No one is claiming Bitcoin will go up forever.

Piggy backing off this: Exactly, no one is saying it'll go up "forever". Just up by a lot because we can look at bitcoin and see what it can do and it's potential.  We can look at this potential and guess a price.

What bears like ElecticBugaloo and Proudhon (assuming he's not just a lulz troll) do is saying bubble because. Then full stop.

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Ozymandias
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March 27, 2013, 07:57:16 PM
 #16083

Do it for any asset.

You are the fanatic here, btw. But lets not get into that, I know it's a common arguing tactic.
Just tell me any asset which only went up, no metaphors.

Gold, excluding minor dips, the bubble has yet to "pop"

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Crazy
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March 27, 2013, 08:03:50 PM
 #16084

Hey what's up,

My name is Piper67.

I point out logical fallacies like a boss and then use passive aggressive ad hominem.

Believe me, please!
ElectricMucus
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March 27, 2013, 08:04:08 PM
 #16085

Do it for any asset.

You are the fanatic here, btw. But lets not get into that, I know it's a common arguing tactic.
Just tell me any asset which only went up, no metaphors.

Gold, excluding minor dips, the bubble has yet to "pop"

Ok now at what point does a minor dip become a crash?
Was 31 to 2 a minor dip or a crash?
mccorvic
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March 27, 2013, 08:04:35 PM
 #16086

Hey what's up,

My name is Piper67.

I point out logical fallacies like a boss and then use passive aggressive ad hominem.

Believe me, please!

Lol, you sound mad.

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March 27, 2013, 08:06:14 PM
 #16087

Do it for any asset.

You are the fanatic here, btw. But lets not get into that, I know it's a common arguing tactic.
Just tell me any asset which only went up, no metaphors.

Gold, excluding minor dips, the bubble has yet to "pop"

Oxygen and water also come to mind. As do Palladium, Silver, Tungsten and most non-renewables, as well as some renewables, like wheat or soybeans. Even real estate qualifies. Even after the " real estate bubble" of 2008, prices are still ridiculously higher than they were in the 70's, 80's and most of the 90's.

I'm by no means a fanatic. I can think of two technical reasons why Bitcoin might fail, and at least two non-technical reasons why it might either fail completely or be successfully corralled. But I am also fully aware of its potential to change the way we humans understand value allocation and transaction, much in the same way the internet is in the process of fulfilling its potential to change the way we humans understand communication. That's it. No fanaticism of any sort here, just a calculated understanding of the probability for change.
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March 27, 2013, 08:06:42 PM
 #16088

Far from it lol, just enjoying the discourse between competing passionate opinions.
Ozymandias
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March 27, 2013, 08:10:33 PM
 #16089

Do it for any asset.

You are the fanatic here, btw. But lets not get into that, I know it's a common arguing tactic.
Just tell me any asset which only went up, no metaphors.

Gold, excluding minor dips, the bubble has yet to "pop"

Ok now at what point does a minor dip become a crash?
Was 31 to 2 a minor dip or a crash?

I don't have an objective answer to your first question, if you do, please share and site the source as I would love to learn!
Your second question is relative to the time frame; In August 2011 it looked like a crash, on March 27, 2013 it looks like a minor dip.

Neither of those points are relevant to the conversation at hand though.

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phelix
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March 27, 2013, 08:15:11 PM
 #16090

Bull tip: classic market strategies are meaningless in the current bitcoin market. Something dead obvious since  $15.

Hey! What are you doing bringing rational thought and logic into this thread! Don't you know that makes the bears lose all control of their bladder?

Another question: Why are you still posting here and not on chilling on your personal island?  Wink

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mccorvic
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March 27, 2013, 08:17:09 PM
 #16091

Bull tip: classic market strategies are meaningless in the current bitcoin market. Something dead obvious since  $15.

Hey! What are you doing bringing rational thought and logic into this thread! Don't you know that makes the bears lose all control of their bladder?

Another question: Why are you still posting here and not on chilling on your personal island?  Wink

Well, i got to my island, got internet service, and then realize I forgot to buy a boat.  Not much else to do put post.

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420
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March 27, 2013, 08:39:17 PM
 #16092

Do it for any asset.

You are the fanatic here, btw. But lets not get into that, I know it's a common arguing tactic.
Just tell me any asset which only went up, no metaphors.

i think we need to define what is going up and what is going down

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March 27, 2013, 08:46:04 PM
 #16093

Bull tip: classic market strategies are meaningless in the current bitcoin market. Something dead obvious since  $15.

Hey! What are you doing bringing rational thought and logic into this thread! Don't you know that makes the bears lose all control of their bladder?

Another question: Why are you still posting here and not on chilling on your personal island?  Wink

Well, i got to my island, got internet service, and then realize I forgot to buy a boat.  Not much else to do put post.
LOL. I meant byron. Will ask you next year. Wink

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Richy_T
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March 27, 2013, 08:46:52 PM
 #16094


Only the bears seem to be ignoring/not understanding the fundamentals, which is why I guess only the bears have been seeing a bubble since the 20s

I'd say I've seen a couple of small bubbles. The thing is that a bubble deflating in the face of an underlying increase can still lead to a positive gradient.

And don't forget, there can be negative bubbles too. Less likely with fedgov running the presses until they glow red hot but nonetheless...

The thing is, there certainly are the right conditions for a bubble. Too much cash with nowhere to go. OTOH BTC is undervalued right now so cash may not be inflating a bubble, just inflating a ball to the right pressure.

This is Bitcoin in my eyes right now:


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mccorvic
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March 27, 2013, 08:50:31 PM
 #16095

OTOH BTC is undervalued right now so cash may not be inflating a bubble, just inflating a ball to the right pressure.

This is my belief.

MARKET DEPTH UPDATE:  Unchanged.  While the battle continues over 87 and 88 neither side shows any sign of exhaustion.  Bulls still have the monetary advantage.

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March 27, 2013, 08:54:36 PM
 #16096

OTOH BTC is undervalued right now so cash may not be inflating a bubble, just inflating a ball to the right pressure.

This is my belief.

MARKET DEPTH UPDATE:  Unchanged.  While the battle continues over 87 and 88 neither side shows any sign of exhaustion.  Bulls still have the monetary advantage.

Just yesterday I've seen a bunch of canceled buy orders transformed into market orders. If this trend continues we will see drying up support pretty soon, right now people can still compensate by canceling sell orders so the overall order list looks the same.
Either way that are definitely the first signs of exhaustion.
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March 27, 2013, 08:55:14 PM
 #16097

This is Bitcoin in my eyes right now:



In my eyes.



This kind of thinking right here is one of the many reasons I love this forum!

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Ozymandias
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March 27, 2013, 09:01:19 PM
 #16098

OTOH BTC is undervalued right now so cash may not be inflating a bubble, just inflating a ball to the right pressure.

This is my belief.

MARKET DEPTH UPDATE:  Unchanged.  While the battle continues over 87 and 88 neither side shows any sign of exhaustion.  Bulls still have the monetary advantage.

Just yesterday I've seen a bunch of canceled buy orders transformed into market orders. If this trend continues we will see drying up support pretty soon, right now people can still compensate by canceling sell orders so the overall order list looks the same.
Either way that are definitely the first signs of exhaustion.

anecdotal evidence + ambiguous time frame + assumption based on anecdotal evidence = crash!

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March 27, 2013, 09:02:34 PM
 #16099

anecdotal evidence + ambiguous time frame + assumption based on anecdotal evidence = crash!

Just watch http://bitcoinity.org/markets from time to time and see for yourself.
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March 27, 2013, 09:03:06 PM
 #16100

I come here to see high rollers (permabulls, bull buddies) convince each other to chip away at there inflatinflated walls.
This is my safe place on the forum.  Lets keep the argument of economics to another thread you'r giving me anxiety.

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
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