Topic: BTC/USD: Ready for "The Running of the Bears"? - page 10. (Read 19779 times)

So Cyprus has a bailout deal now? Kicking the can down the road? I'm just tuning into CNBC... anyone know more about it?

Yeah, can we bury this thread as false, erroneous. Or should we saved as an example of an epic fail?
All the lingo in the world can't save his position hehehe.

Yes it would. Now the ball is in ATC777's court.

I've already called him out on an escrowed bet. We'll see who is laughing all the way to the bank after this.

ATC777, bring it! lol 

But that would require one to put their money where their mouth is...

LOL is that all you got?

I can prove it too lol. Wanna do a escrowed bet of a substantial amount of BTC that I bought several 100 k of LTC and sold 3/4 of it in the last run up for BTC?

I have all the BTC-e logs to prove it.

Wanna go? Chicken? Let's use Maged to escrow the bet in BTC and the bet should be 250BTC.

 

Yeah.... right... 

OP, keep trying to call the top of BTC.

You will become Proudhon v0.5 

What? I pointed out the pattern, and explained what they typically indicate -- no technical indicator is 101.01% accurate (e.g., seeing the exact path of the future).

You know what's funny? You are the guy who called me stupid for buying LTC at $0.04-$0.09, so let me ask you a question: how's it feel to be 1,300% wrong about that?  



 

Difficult , so difficult to say how its going to pan out.

I'll say one thing though. With the dot com boom and bust, a lot of companies were selling themselves based on future predictions and fundamentals that did not exist. The infrastructure , for one , to support exponential usage (fast internet connections , mass customer usage of the net) did not exist - making their predictions flawed. Many of the business models were valid, its just their financial predictions based on the internet adoption at the time did not make sense.

IMO, with bitcoin its a bit different, just because the technology is already in existance (up to a point) and has gained a significant amount of usage. There are a number of indicators that show the technology is being used alot. (That's excluding Satoshi Dice and the large increase in price per coin, which has skewed the numbers a bit).

https://blockchain.info/charts

However there are a number of risk factors that are embedded in this that may or may not be accounted for with the current price. Certainly it is not at all certain whether bitcoin will ever gain mass adoption or usage. I think more attention should be given to the technical side. Scalability in particular is going to be an issue very soon.

I'm not really too big on technical analysis per se - I think that the charts do show some interesting information but it's just one part of the picture.

Not only can you teleport it around the globe, and make it invisible for crossing border checkpoints, but it is also incredibly easy to check it to validate it is real. There is no way to fill this with tungsten and get away with it.

OP, How is the double top idea working out for you? 

Didn't you know? BTC is unobtanium.

You can't do a whole lot with a tulip and a most of those dotcom shares were from hyped up companies without any substance.

Unlike those examples, Bitcoin does have substance.  It's like somebody just discovered a strange new precious metal that can be teleported and made invisible, and now everybody wants to get their hands on it.

If this is a bubble, it will be temporary like the last one.

The thing that gets me about TA of Bitcoin prices is, a typical day trader is lucky to slightly outperform the market. Most don't. Yet when faced with a long-term exponential bull run (that could even perhaps end up as the greatest one in all of history), you have to trade so excellently that you outperform even that exponential rise. Such an amazingly gifted day trader would have to be some kind of superhero and know the market like the back of his hand. This is impossible with Bitcoin. Way too many short-term X-factors.

Also note the "I'm not losing money because I'm cashed out" nonsense. A lost opportunity, a lost (or substantially diminished) position in a meteoric bull market is an incredibly huge loss compared to what was originally held (an undiminished position in that same asset). Sure you could double your position by a lucky trade, and sure, TA can conceivably help, but see the previous paragraph for why it's *still* not worth it.

"Buy and hold: Because you may be uncommonly intelligent and skilled at TA, but your comparative advantage will never be as big as Bitcoin's rise is exponential."

So much for that "double top" 

Looks like this thread could be closed now.

hahah. irl rofl.

http://youtu.be/nIR759wIjdg

  Not directed at anyone