... help bitcoin to get its fair value ... which could be in the thousands when measured in USD ...
You have a financial interest in the market's response to your Technical Analysis, I presume. I mean, you're not a disinterested outsider, are you? 
Topic: Bitcoin Forecast, Bitcoin Speculation & Bitcoin Technical Analysis. Up or DOWN? - page 129. (Read 540250 times)
May 08, 2011, 03:46:31 AM
May 08, 2011, 01:56:24 AM
Fortunately for bitcoin, there is still so much rising publicity and interest that no major drop in prices is happening.
It would still be good to continuously improve liquidity and easy of transcations as this will help bitcoin to get its fair value ... which could be in the thousands when measured in USD if more and more businesses accept it.
It would still be good to continuously improve liquidity and easy of transcations as this will help bitcoin to get its fair value ... which could be in the thousands when measured in USD if more and more businesses accept it.
May 07, 2011, 11:17:22 PM
Of course, if the exchange does not work, price does not work (change..)
Overall, the current situation of the exchanges including MtGox as the biggest, is far from working properly.
This can be one fundamental reason why BTC prices may go down significantly. Confidence into the exchanges must be high to attract new funds from investors.
Confidence is shaken now with all the DDOS.
Secondly, the withdrawal limit of 1000$ per day is a joke for investors. No serious investor will put hundreds of thousands of funds into an exchange if he can not take out funds within hours (max 1-3 days) to shift asset allocation quickly.
(This is no blame to people operating the exchanges. They are great entrepreneurs, do this often for free and doing a great job, but this is not enough, given the fact that 11,000 new coins are generated daily, 77,000 weekly, 335,000 monthly = 1.2 million $ at current BTC/USD rate)
Overall, the current situation of the exchanges including MtGox as the biggest, is far from working properly.
This can be one fundamental reason why BTC prices may go down significantly. Confidence into the exchanges must be high to attract new funds from investors.
Confidence is shaken now with all the DDOS.
Secondly, the withdrawal limit of 1000$ per day is a joke for investors. No serious investor will put hundreds of thousands of funds into an exchange if he can not take out funds within hours (max 1-3 days) to shift asset allocation quickly.
(This is no blame to people operating the exchanges. They are great entrepreneurs, do this often for free and doing a great job, but this is not enough, given the fact that 11,000 new coins are generated daily, 77,000 weekly, 335,000 monthly = 1.2 million $ at current BTC/USD rate)
I agree, these limits will cause a major drop on liquidity, and a decline in prices. (in addition to the already-insane bubble!
)Jeez, it's annoying and I don't like that he cares about interpretations of the elders scribbles, but it's not going to effect the market at all. You send and email you get your money fast. It's easy.
May 07, 2011, 05:04:19 PM
Of course, if the exchange does not work, price does not work (change..)
Overall, the current situation of the exchanges including MtGox as the biggest, is far from working properly.
This can be one fundamental reason why BTC prices may go down significantly. Confidence into the exchanges must be high to attract new funds from investors.
Confidence is shaken now with all the DDOS.
Secondly, the withdrawal limit of 1000$ per day is a joke for investors. No serious investor will put hundreds of thousands of funds into an exchange if he can not take out funds within hours (max 1-3 days) to shift asset allocation quickly.
(This is no blame to people operating the exchanges. They are great entrepreneurs, do this often for free and doing a great job, but this is not enough, given the fact that 11,000 new coins are generated daily, 77,000 weekly, 335,000 monthly = 1.2 million $ at current BTC/USD rate)
Overall, the current situation of the exchanges including MtGox as the biggest, is far from working properly.
This can be one fundamental reason why BTC prices may go down significantly. Confidence into the exchanges must be high to attract new funds from investors.
Confidence is shaken now with all the DDOS.
Secondly, the withdrawal limit of 1000$ per day is a joke for investors. No serious investor will put hundreds of thousands of funds into an exchange if he can not take out funds within hours (max 1-3 days) to shift asset allocation quickly.
(This is no blame to people operating the exchanges. They are great entrepreneurs, do this often for free and doing a great job, but this is not enough, given the fact that 11,000 new coins are generated daily, 77,000 weekly, 335,000 monthly = 1.2 million $ at current BTC/USD rate)
I agree, these limits will cause a major drop on liquidity, and a decline in prices. (in addition to the already-insane bubble!
) May 07, 2011, 03:39:06 PM
...the withdrawal limit of 1000$ per day is a joke for investors...
MagicalTux, the owner of MtGox, has repeatedly made it clear that serious traders can make arrangements with him for a higher limit.I am aware of this and this is good, but still far from ideal.
If an investor would hear this from a typical broker he still would not have great confidence and as a result may not trade on this very platform, because there are no clear criteria under which conditions higher transactions are allowed.
Transparency is key.
May 07, 2011, 02:45:15 PM
...the withdrawal limit of 1000$ per day is a joke for investors...
MagicalTux, the owner of MtGox, has repeatedly made it clear that serious traders can make arrangements with him for a higher limit. 
May 07, 2011, 02:28:54 PM
The only reason (that I'm aware) of the $1000 withdrawal limit is attempted compliance with FinCEN regulations. Without the withdrawal limit, MtGox would classify as a money transmitting business (instead of a provider of stored value) and be subject to many more financial regulations.
Either we need somebody big to enter the game, or we need an anonymous exchange of some sort, that will not operate under financial regulation. I just don't see one of these hobbyist (I mean that in the most positive way possible) exchanges going big time and subjecting itself to the complexities of US (or other state) financial law.
Either we need somebody big to enter the game, or we need an anonymous exchange of some sort, that will not operate under financial regulation. I just don't see one of these hobbyist (I mean that in the most positive way possible) exchanges going big time and subjecting itself to the complexities of US (or other state) financial law.
Why is it that mtgox has to abide by the rules of FinCEN which is a US institution! MT Gox is owned and operated in Japan from what I know, so once again what is it with this deference toward US financial authorities - you know not everything has to revolve around the US
I for one would prefer no withdrawal or deposit limit BUT in exchange I'd be willing to accept the implementation of KYC rules (know your customer) That's a small price to pay for increased transaction freedom. This way authorities feel safer that bitcoins are not being laundred for shady purposes via these large exchanges (if they wanted to launder it they should do it person to person ie direct payments).
May 07, 2011, 12:47:53 PM
Some big order came in this afternoon, leading to a breakout to the upside above 3.65$
We may test the highs of 4.15 $.
We may test the highs of 4.15 $.
May 07, 2011, 11:42:41 AM
The only reason (that I'm aware) of the $1000 withdrawal limit is attempted compliance with FinCEN regulations. Without the withdrawal limit, MtGox would classify as a money transmitting business (instead of a provider of stored value) and be subject to many more financial regulations.
Either we need somebody big to enter the game, or we need an anonymous exchange of some sort, that will not operate under financial regulation. I just don't see one of these hobbyist (I mean that in the most positive way possible) exchanges going big time and subjecting itself to the complexities of US (or other state) financial law.
Either we need somebody big to enter the game, or we need an anonymous exchange of some sort, that will not operate under financial regulation. I just don't see one of these hobbyist (I mean that in the most positive way possible) exchanges going big time and subjecting itself to the complexities of US (or other state) financial law.
May 07, 2011, 11:38:44 AM
.........Secondly, the withdrawal limit of 1000$ per day is a joke for investors. No serious investor will put hundreds of thousands of funds into an exchange if he can not take out funds within hours (max 1-3 days) to shift asset allocation quickly....
this issue must definitely be addressed or mtgox will remain a joke as a leading btc exchange, to go higher from here we need those kind of big investors or prices will plummet soon. May 07, 2011, 09:57:31 AM
Curious, DDoS is nothing new, why they have such a difficult time staying up? cost of implementing the prevention method? 
EDIT: just read this thread https://bitcointalksearch.org/topic/mtgox-back-for-good-7494 I hope mtgox is really back for good. May 07, 2011, 09:55:20 AM
Curious, DDoS is nothing new, why they have such a difficult time staying up? cost of implementing the prevention method?
May 07, 2011, 08:45:13 AM
Of course, if the exchange does not work, price does not work (change..)
Overall, the current situation of the exchanges including MtGox as the biggest, is far from working properly.
This can be one fundamental reason why BTC prices may go down significantly. Confidence into the exchanges must be high to attract new funds from investors.
Confidence is shaken now with all the DDOS.
Secondly, the withdrawal limit of 1000$ per day is a joke for investors. No serious investor will put hundreds of thousands of funds into an exchange if he can not take out funds within hours (max 1-3 days) to shift asset allocation quickly.
(This is no blame to people operating the exchanges. They are great entrepreneurs, do this often for free and doing a great job, but this is not enough, given the fact that 11,000 new coins are generated daily, 77,000 weekly, 335,000 monthly = 1.2 million $ at current BTC/USD rate)
Overall, the current situation of the exchanges including MtGox as the biggest, is far from working properly.
This can be one fundamental reason why BTC prices may go down significantly. Confidence into the exchanges must be high to attract new funds from investors.
Confidence is shaken now with all the DDOS.
Secondly, the withdrawal limit of 1000$ per day is a joke for investors. No serious investor will put hundreds of thousands of funds into an exchange if he can not take out funds within hours (max 1-3 days) to shift asset allocation quickly.
(This is no blame to people operating the exchanges. They are great entrepreneurs, do this often for free and doing a great job, but this is not enough, given the fact that 11,000 new coins are generated daily, 77,000 weekly, 335,000 monthly = 1.2 million $ at current BTC/USD rate)
May 07, 2011, 07:36:42 AM
Yes, I think so. I can not work because of these attacks. 
May 07, 2011, 05:43:40 AM
Technical analysis means absolutely nothing without a liquid exchange.
May 07, 2011, 12:13:50 AM
It seems that the exchange rate may go down this weekend.
FTFY
(MtGox is down again . . . sigh. . .)
May 06, 2011, 07:45:30 PM
It seems that the exchange rate may go down this weekend.
May 06, 2011, 07:12:59 PM
Quote
recent price pattern looks still better if BTC/USD breaks down lower.
I'd give this a 65% probability over the next 7 days.
I'd give this a 65% probability over the next 7 days.
What's your price projection for the low?
May 06, 2011, 05:26:30 PM
recent price pattern looks still better if BTC/USD breaks down lower.
I'd give this a 65% probability over the next 7 days.
I'd give this a 65% probability over the next 7 days.
May 06, 2011, 02:58:37 PM
@S3052
Do you consider the small surge today to still be consistent with your short-term forecast of a break downwards? Or would you say the less likely scenario is taking place? Or is it too early to say?
Do you consider the small surge today to still be consistent with your short-term forecast of a break downwards? Or would you say the less likely scenario is taking place? Or is it too early to say?
I still think it looks like it will break downwards. Look at the market depth, (http://bitcoincharts.com/markets/mtgoxUSD_depth.html), there is not much resistance down to about 2.8, and there is a lot more asks than bids. Looks like downward pressure to me.
Of course, I don't know what I'm talking about, and even if I did, a single big buyer (or seller) could cause a huge break either way.
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