Bitcoin: The Downward Trend Continues - page 2.

jonald_fyookball

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Core dev leaves me neg feedback #abuse #political

Quote from: teukon on April 12, 2014, 09:13:48 AM

Quote from: jonald_fyookball on April 11, 2014, 08:33:56 PM

What kind of bullshit chart is this where the vertical axis numbers aren't uniform ? It goes from 100 to 140 to 200 to 280 with same vertical space....this only distorts things, it does not give a clear picture of price action.
And then you're gonna use it to draw a trend line? I'm very bullshit on BTC long term but get out of here with this crap.

I peed myself laughing.

I can't remember why I added you to my ignore list but I've decided to unblock you for my entertainment.

Whatever.

I know several professional traders, and none of them use charts like that for the exact reasons I posted. I also trade myself, I'm profitable, and I know a good deal about charting, technical analysis, and price action.

Now, if you know something about the matter, then go ahead and enlighten us. Otherwise STFU and stop acting like a jackass.

spazzdla

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Or maybe we dip below $400 again today.. Come on hit my buy of $300

teukon

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Quote from: jonald_fyookball on April 11, 2014, 08:33:56 PM

What kind of bullshit chart is this where the vertical axis numbers aren't uniform ? It goes from 100 to 140 to 200 to 280 with same vertical space....this only distorts things, it does not give a clear picture of price action.
And then you're gonna use it to draw a trend line? I'm very bullshit on BTC long term but get out of here with this crap.

I peed myself laughing.

I can't remember why I added you to my ignore list but I've decided to unblock you for my entertainment.

spazzdla

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Activity: 1722

Merit: 1000

I would disagree.. this is the first time over the last 5 dips the price went back to it's start.. IMO we have found the floor. Before it was like 1200 drop to 700, rise and steady at 900. Then 900 to 600 steady at 700, now it droped 450, down to 350 steading out at 430..

jonald_fyookball

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Core dev leaves me neg feedback #abuse #political

I hear what you guys are saying bout the log chart.... Maybe it's not complete crap if some people like it but I still think the traditional candlestick chart is king.

Bit_Happy

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A Great Time to Start Something!

The short-term trend is up now.

Also long-term is up...

theonewhowaskazu

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If you bought $1000 at $10 and held to $100, you made $9000.
If you bought at $100 and held to $1000, you made $9000.

That's why log charts matter. Saying you view log charts as a distortion is like saying that AAPL is more expensive than FB.

rogerwilco

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Quote from: jonald_fyookball on April 11, 2014, 10:58:41 PM

Quote from: smoothie on April 11, 2014, 10:40:28 PM

Quote from: jonald_fyookball on April 11, 2014, 08:40:06 PM

Bullish, lol...

Logarithmic chart...it's a joke. Major distortion of real price action.

LOL how is it a distortion?

Watch us go to a new ATH by end of July 2014.

$5000 by end of this year.

How is it a distortion? Because you're not seeing price vs time! ...which
is the whole point of a freaking price chart. Am I taking crazy pills?

Here is an actual price vs time chart. Obviously this chart gives
you much clearer visual data about what the price did over time --
you can clearly see the big spike up to 1200, a pullback, consolidation
into the 800s, another sell off, etc. It's much less clear on the log
chart (literally distorted via compression).

Even many people who prefer the log chart don't understand the purpose of a log chart.

The purpose is to give equal distances to equal percentages, rather than equal quantities. This is because gains and losses in investments are typically expressed in terms of percentages.

Think about it. Is the price difference between $1 and $10 really the same as the difference between $100 and $109? Anyone experiencing the first price jump (or crash) will realize much larger gains (or losses) than anyone experiencing the second. A better analogous range would be $100 to $1000, to reflect the same gains on investment as in the first range. A log chart will show $1, $10, $100, and $1000 equally spaced to depict this.

A side effect of the log chart is that exponential growth appears in a straight line. But that is not the only use a log chart has, and it may arguably be a more useful scale for all investments, even when no exponential growth is present.

Equate

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There are lots of bitcoins flowing towards China on the fiatleak.

rudius

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Quote from: BittBurger on April 11, 2014, 11:09:50 PM

Quote from: Redtea on April 10, 2014, 05:30:43 PM

the gradual decline may signify a loss of confidence in the system itself. That fear, that the Bitcoin infrastructure itself is insecure, is not entirely without merit.

No

The price is dropping because China is slowly pulling out.

There is no magic, mystery, or secret code that your magical charts can reveal to us about the minds of the people holding bitcoin.

There are solid, logical reasons for each and every price change.

Recent dip wasn t because of chinas panic selling... just saying

Actually china were buying while we were panic selling because of them. They must have had a good laugh

jonald_fyookball

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Core dev leaves me neg feedback #abuse #political

Quote from: BittBurger on April 11, 2014, 11:09:50 PM

Quote from: Redtea on April 10, 2014, 05:30:43 PM

the gradual decline may signify a loss of confidence in the system itself. That fear, that the Bitcoin infrastructure itself is insecure, is not entirely without merit.

No

The price is dropping because China is slowly pulling out.

There is no magic, mystery, or secret code that your magical charts can reveal to us about the minds of the people holding bitcoin.

There are solid, logical reasons for each and every price change.

QFT. I lmao when I see people talking about moving average crossovers on a bitcoin chart.

BittBurger

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Quote from: Redtea on April 10, 2014, 05:30:43 PM

the gradual decline may signify a loss of confidence in the system itself. That fear, that the Bitcoin infrastructure itself is insecure, is not entirely without merit.

No

The price is dropping because China is slowly pulling out.

There is no magic, mystery, or secret code that your magical charts can reveal to us about the minds of the people holding bitcoin.

There are solid, logical reasons for each and every price change.

jonald_fyookball

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Activity: 1302

Merit: 1008

Core dev leaves me neg feedback #abuse #political

Quote from: smoothie on April 11, 2014, 10:40:28 PM

Quote from: jonald_fyookball on April 11, 2014, 08:40:06 PM

Bullish, lol...

Logarithmic chart...it's a joke. Major distortion of real price action.

LOL how is it a distortion?

Watch us go to a new ATH by end of July 2014.

$5000 by end of this year.

How is it a distortion? Because you're not seeing price vs time! ...which
is the whole point of a freaking price chart. Am I taking crazy pills?

Here is an actual price vs time chart. Obviously this chart gives
you much clearer visual data about what the price did over time --
you can clearly see the big spike up to 1200, a pullback, consolidation
into the 800s, another sell off, etc. It's much less clear on the log
chart (literally distorted via compression).

dropt

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Quote from: jonald_fyookball on April 11, 2014, 08:40:06 PM

Logarithmic chart...it's a joke. Major distortion of real price action.

smoothie

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Activity: 2492

Merit: 1491

LEALANA Bitcoin Grim Reaper

Quote from: jonald_fyookball on April 11, 2014, 08:40:06 PM

Bullish, lol...

Logarithmic chart...it's a joke. Major distortion of real price action.

LOL how is it a distortion?

Watch us go to a new ATH by end of July 2014.

$5000 by end of this year.

smoothie

legendary

Activity: 2492

Merit: 1491

LEALANA Bitcoin Grim Reaper

Quote from: smoothie on April 10, 2014, 11:58:28 PM

Just watch for the downward trap...lol

it will snap up. Coiling spring in progress. Cheesy

Called it. Cheesy

jonald_fyookball

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Core dev leaves me neg feedback #abuse #political

Bullish, lol...

Logarithmic chart...it's a joke. Major distortion of real price action.

matt4054

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Activity: 1946

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Quote from: jonald_fyookball on April 11, 2014, 08:33:56 PM

What kind of bullshit chart is this where the vertical axis numbers aren't uniform ? It goes from 100 to 140 to 200 to 280 with same vertical space....this only distorts things, it does not give a clear picture of price action.
And then you're gonna use it to draw a trend line? I'm very bullshit on BTC long term but get out of here with this crap.

Sorry?

hodlmybtc

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Quote from: jonald_fyookball on April 11, 2014, 08:33:56 PM

Quote from: marvinrouge on April 11, 2014, 05:39:16 PM

Quote from: Redtea on April 10, 2014, 05:30:43 PM

The charts don’t lie

Agree !

What kind of bullshit chart is this where the vertical axis numbers aren't uniform ? It goes from 100 to 140 to 200 to 280 with same vertical space....this only distorts things, it does not give a clear picture of price action.
And then you're gonna use it to draw a trend line? I'm very bullshit on BTC long term but get out of here with this crap.

It's called a logarithmic chart

jonald_fyookball

legendary

Activity: 1302

Merit: 1008

Core dev leaves me neg feedback #abuse #political

Quote from: marvinrouge on April 11, 2014, 05:39:16 PM

Quote from: Redtea on April 10, 2014, 05:30:43 PM

The charts don’t lie

Agree !

What kind of bullshit chart is this where the vertical axis numbers aren't uniform ? It goes from 100 to 140 to 200 to 280 with same vertical space....this only distorts things, it does not give a clear picture of price action.
And then you're gonna use it to draw a trend line? I'm very bullish on BTC long term but get out of here with this crap.

Topic: Bitcoin: The Downward Trend Continues - page 2. (Read 5010 times)