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Author Topic: Bitcoin Technical Analysis Update  (Read 986 times)
vssa
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July 31, 2012, 09:57:16 AM
 #1

what is the next price target : http://www.btcwallet.org/?p=1704 ?

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July 31, 2012, 12:12:51 PM
 #2

Oh wow, a horizontal line on a time series chart, that's pretty sophisticated.
NOT

The conclusion is: "It is up, so it could go up some more."  Cheesy
(If you draw any conclusion like that do it when we break the 9.7 high)
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July 31, 2012, 01:57:43 PM
 #3

From the link:

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It is important to understand that the bitcoin value as a commodity is determined by the network properties(difficulty, size,speed)

Seems rather that bitcoin's network properties tend to follow its value, not the other way around.
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July 31, 2012, 03:01:09 PM
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From the link:

Quote
It is important to understand that the bitcoin value as a commodity is determined by the network properties(difficulty, size,speed)

Seems rather that bitcoin's network properties tend to follow its value, not the other way around.

+1. also: difficulty and speed are pretty much the same. I don't see how the size of the network would determine the value. Size of network might be influenced similarly as the exchange rate by the size of the community, but that's not "being determined by".

As for "exchange rate follows difficulty", that's just been plain wrong (it's the other way around as proudhon pointed out), as has been discussed multiple times and at length on these forums last year.

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July 31, 2012, 03:41:50 PM
 #5

From the link:

Quote
It is important to understand that the bitcoin value as a commodity is determined by the network properties(difficulty, size,speed)

Seems rather that bitcoin's network properties tend to follow its value, not the other way around.

+1. also: difficulty and speed are pretty much the same. I don't see how the size of the network would determine the value. Size of network might be influenced similarly as the exchange rate by the size of the community, but that's not "being determined by".

As for "exchange rate follows difficulty", that's just been plain wrong (it's the other way around as proudhon pointed out), as has been discussed multiple times and at length on these forums last year.


Right, so any TA that asserts that "Hey, difficulty has gone up, so the price will go up" is probably not one to take very seriously, because, as you said, the relationship between price and difficulty has been discussed a lot around here in the past and seem like a settled issue.
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