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Author Topic: Wall Observer - MtGoxUSD wall movement tracker  (Read 1648398 times)
justusranvier
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April 13, 2013, 01:41:43 PM
 #22501

It will be a series of endless bubbles, forever. Welcome to the profit-rollercoster. Buy low, sell high, panic, profit, rinse, wash, repeat.
Not forever.

Bitcoin isn't a stock or a commodity. Those things have speculative bubbles because at some point you have to cash out of them.

Bitcoin is a new technology that replaces money. In principle there is no need to cash out of it - you can convert your legacy currencies into bitcoin and just stay in it forever. At least you'll be able to do that at some point. The ecosystem and the infrastructure just isn't ready for that yet.

These hyper-exponential runs are not cyclical bubbles, they are battering rams. Every time it happens we're going to rebound - except for the last time. There will be no cashing out of the final run up because after that there won't be any other currencies to cash out into.
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BitcoinAshley
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April 13, 2013, 01:49:17 PM
 #22502

It will be a series of endless bubbles, forever. Welcome to the profit-rollercoster. Buy low, sell high, panic, profit, rinse, wash, repeat.
Not forever.

Bitcoin isn't a stock or a commodity. Those things have speculative bubbles because at some point you have to cash out of them.

Bitcoin is a new technology that replaces money. In principle there is no need to cash out of it - you can convert your legacy currencies into bitcoin and just stay in it forever. At least you'll be able to do that at some point. The ecosystem and the infrastructure just isn't ready for that yet.

These hyper-exponential runs are not cyclical bubbles, they are battering rams. Every time it happens we're going to rebound - except for the last time. There will be no cashing out of the final run up because after that there won't be any other currencies to cash out into.


This, pretty much. A lot of people simply can't comprehend a world without fiat and/or they don't think it will change anytime soon. This is often due to not paying attention to the economic environment in the world around them, the rampant corruption, manipulation, etc. The world is ripe for a massive change that will improve everyone's quality of life.
mestar
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April 13, 2013, 01:49:30 PM
 #22503

Most likely: that graph can't be used to infer anything in regard to bitcoin

You are still in "denial" while the most of the world has moved to "return to 'normal'". Smiley
revans
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April 13, 2013, 01:55:42 PM
 #22504

It will be a series of endless bubbles, forever. Welcome to the profit-rollercoster. Buy low, sell high, panic, profit, rinse, wash, repeat.
Not forever.

Bitcoin isn't a stock or a commodity. Those things have speculative bubbles because at some point you have to cash out of them.

Bitcoin is a new technology that replaces money. In principle there is no need to cash out of it - you can convert your legacy currencies into bitcoin and just stay in it forever. At least you'll be able to do that at some point. The ecosystem and the infrastructure just isn't ready for that yet.

These hyper-exponential runs are not cyclical bubbles, they are battering rams. Every time it happens we're going to rebound - except for the last time. There will be no cashing out of the final run up because after that there won't be any other currencies to cash out into.

Bitcoin is not new technology, it's merely the first crypto currency to garner sufficient hype to give it a veneer of legitimacy.
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April 13, 2013, 01:59:31 PM
 #22505

It will be a series of endless bubbles, forever. Welcome to the profit-rollercoster. Buy low, sell high, panic, profit, rinse, wash, repeat.
Not forever.

Bitcoin isn't a stock or a commodity. Those things have speculative bubbles because at some point you have to cash out of them.

Bitcoin is a new technology that replaces money. In principle there is no need to cash out of it - you can convert your legacy currencies into bitcoin and just stay in it forever. At least you'll be able to do that at some point. The ecosystem and the infrastructure just isn't ready for that yet.

These hyper-exponential runs are not cyclical bubbles, they are battering rams. Every time it happens we're going to rebound - except for the last time. There will be no cashing out of the final run up because after that there won't be any other currencies to cash out into.

Bitcoin is not new technology, it's merely the first crypto currency to garner sufficient hype to give it a veneer of legitimacy.

Lol and was before btc?


What are you asking me?
Richy_T
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April 13, 2013, 02:43:22 PM
 #22506

Well IMO we are either at beartrap or despair, but as others have said this graph can be really applied to many things and its relevance to BTC has to be questioned. The main problem being we haven't been through all of the background phases of the chart i.e investments, public etc. Which if you go by my guess' means that we are at beartrap, but the pattern of the line looks awfully similar to what we have witnessed meaning we could be at despair. Who the fuck knows where we are jumping from 90-100, but if you take either of those predictions then at least the only way is up eh.

If you are going with this chart, I wouldn't pay too much attention to the stuff in the background. That may be typical for a stock bubble but isn't necessarily a requirement for things to behave like that. You also have to take into account the tendency of the human mind to find patterns whether they're there or not. There were several bear traps, of various sizes, on the way up and the price was definitely not a nice smooth line. For me, I started getting concerned when we started climbing above exponential growth. My only two regrets are that I didn't cash-out my original stake at the  top and now, that I put a few btc on bitcoin-24 which I managed to parlay a little higher but now is apparently gone (I'm assuming forever)

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bixcoin
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April 13, 2013, 02:56:05 PM
 #22507

...My only two regrets are that I didn't cash-out my original stake at the  top and now, that I put a few btc on bitcoin-24 which I managed to parlay a little higher but now is apparently gone (I'm assuming forever)

Why do you assume that?
Digikeys
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April 13, 2013, 02:59:43 PM
 #22508

Is anyone getting live data from anywhere? bitcoinity and clarkmoody are really not helpful at the moment
thoughtfan
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April 13, 2013, 03:05:59 PM
 #22509



So I would venture to suggest 'bring[ing] this back into peoples heads' is not helpful seeing as it has as far as I can see nothing useful to add to the discussion other than responses illustrating the multitude of reasons why it is so useless when comparing to usd/btc charts.


I have to say that you, judging your response, seem to have at this point a better understanding/ability to critique said charts. I agree with most of that you have to say with regard to the usefulness of the said chart,  as I mentioned in one of the prior posts I was simply judging it from a quasi-aesthetic stance. Seeing similar patterns etc. I have to say if everyone put as much thought into stuff they post onto here as you did then this would be infinitely more educating than it is at times.

...

Looking at these charts trying to predict the future is wasted energy. You could as well open a fortune cookie to see what the price is going to do.


I couldnt agree with you more, but as humans we are trained to see patterns in (all) things. This is the speculation thread though so if we are gonna be using fortune cookies anywhere then no better place than here. But to reiterate you are right it is somewhat useless, which also lead to me not directly giving a definitive answer in relation to the 'where are we now on there' question.

Thanks for your compliment  Smiley  Please don't think I am an authority on charts etc.  I'm part going by what I've learned from others here, part putting apparently disparate facts and observations together and part making shit up that I don't really know anything about Cheesy

If you have a machine on 24/7 why not have a full Bitcoin client running on it to support the network?
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April 13, 2013, 03:07:10 PM
 #22510

Is anyone getting live data from anywhere? bitcoinity and clarkmoody are really not helpful at the moment

Try this perhaps?
Digikeys
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April 13, 2013, 03:09:10 PM
 #22511

Is anyone getting live data from anywhere? bitcoinity and clarkmoody are really not helpful at the moment

Try this perhaps?

Thanks  Smiley
DougTanner
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April 13, 2013, 03:42:49 PM
 #22512

8 hours of stability!


Help pay for my BTCCharts.com subscription: 1DTannerQHQD7qjSmA3abLQaDkVFLnBGma
jojo69
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April 13, 2013, 03:48:53 PM
 #22513

not what I was expecting to wake up to

This is not some pseudoeconomic post-modern Libertarian cult, it's an un-led, crowd-sourced mega startup organized around mutual self-interest where problems, whether of the theoretical or purely practical variety, are treated as temporary and, ultimately, solvable.
Censorship of e-gold was easy. Censorship of Bitcoin will be… entertaining.
Kazu
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April 13, 2013, 03:50:39 PM
 #22514

Stability is fun but not exciting.

CoinLenders - Bitcoin Bank Script / Demo
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dmiceman
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April 13, 2013, 03:51:51 PM
 #22515

That is simple. Nobody wish to play this turn-based game seriously.
ManBearPig
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April 13, 2013, 04:03:35 PM
 #22516

This is fine by me.

Anywhere but down, fast is fine by me.

I tweet crypto nonsense: https://twitter.com/DunningKruger_
Piper67
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April 13, 2013, 04:03:49 PM
 #22517

That is simple. Nobody wish to play this turn-based game seriously.

Even simpler: it's the weekend
Piper67
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April 13, 2013, 04:05:28 PM
 #22518

Having been a long time reader of this read/forum, probably too long/too much time spent and lurking on here for a while. Just wanted to say that many of you provide some brilliantly comedic moments as well as some insightful comments.

For what it is worth I am Long/Bullish. But aware of the potential for shit to hit the fan, having seen it grow from nearly the start.

Also, I just wanted to bring this back into peoples heads since we are looking at charts, or supposed to be, but this is looking awefully similar to the 30d charts of BTC





In this market cycle, Where are we now with bitcoins , ....according to you



Also, where is the chart with cell phone adoption?

Meh, charts are the last refuge of a small mind  Cheesy
rpietila
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April 13, 2013, 04:10:39 PM
 #22519

Having been a long time reader of this read/forum, probably too long/too much time spent and lurking on here for a while. Just wanted to say that many of you provide some brilliantly comedic moments as well as some insightful comments.

For what it is worth I am Long/Bullish. But aware of the potential for shit to hit the fan, having seen it grow from nearly the start.

Also, I just wanted to bring this back into peoples heads since we are looking at charts, or supposed to be, but this is looking awefully similar to the 30d charts of BTC





In this market cycle, Where are we now with bitcoins , ....according to you


Also, where is the chart with cell phone adoption?

This. Buying bitcoins now is like buying Facebook stock at book value when the system had half-a-million users back in 2007.

ManBearPig
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April 13, 2013, 04:12:42 PM
 #22520

I was itching to buy a lot of Google stock at the IPO. It was US+Canada only and I didn't have the means to get around that.

Boy am I glad I didn't buy into THAT bubble /sarcasm

I tweet crypto nonsense: https://twitter.com/DunningKruger_
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