Gold collapsing. Bitcoin UP. - page 552.

rpietila

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Quote from: User705 on January 14, 2015, 04:43:49 PM

Quote from: cypherdoc on January 14, 2015, 01:45:21 PM

Dow -350

are you sure you want to sell BTC?

Why not. With previous high broken through and badly who knows where the real bottom lies. It not like anyone will be selling their houses to buy back BTC just yet or ever. With most selling done in the high 100s or 1000s the smart entry point for BTC is likely lower. And that assumes an honest market which now that Wall Street is involved is anybodies guess. But it appears we are getting closer.

Well, since you ask, I just happened to do it a while ago:

Quote from: rpietila on January 14, 2015, 06:12:44 PM

Quote from: User705 on January 14, 2015, 04:48:25 PM

Quote from: rpietila on January 14, 2015, 12:19:08 PM

Quote from: Wandererfromthenorth on January 14, 2015, 12:06:38 PM

Bitcoiners want to get billionaires quick with their little scheme, call noobs that are trying to get out of the mess late "greedy".

It is no secret that I sold some at $675 in 2013. The next exit zone starts earliest at $3,000, probably higher.

It is no greed to sell at a bottom, it is just stupid. Stuff is as valuable as a year ago (or more, due to more adoption, etc.), yet 75% cheaper. This is a game and you are offered 4 times better odds than last time when you took them. Instead of taking them now, or holding, you decide to fold.

If anyone becomes a billionaire with bitcoin, he deserves it. So many chances of folding were offered but he held on.

But where is you buy zone? At what price point would you consider selling the castle to load up on BTC? Or perhaps you wouldn't ever? You mentioned most of the last bubble selling was in the high 100s, close to 1000 so assuming that a buyback price point would have to be 10x - 20x lower for most who cashed out to buy back at least same amount or more the bottom is still lower.

It depends what conversion ratio I get for the castle. They don't move very easily and mine could be appraised to half of what I paid for, or twice that. When I bought it, the plan was "<300 sell it, >3000 repair it, else hold it".

If I get the same that I invested, it's already looking good. More than 3 times increase in bitcoins in one year. (The secondary effect is that BTC price would go to >300 if bought at market).

So let's make it official: I'll sell the "bitcoin castle" to a serious buyer, asking price € 1.1 million, my cost so far.

These kind of things make the rational player conclude that BTC is oversold. If a person in my position needs to buy more, instead of just living with the previous gains, everyone else should be buying already.

Also transactions at an ATH.

The whole 2014 is funny, a year of massive increase/improvement in everything. But price development somewhat sad. Reminds me of 2012.

NewLiberty

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Gresham's Lawyer

Quote from: cbeast on January 14, 2015, 05:17:21 PM

Quote from: User705 on January 14, 2015, 04:53:27 PM

Quote from: cbeast on January 14, 2015, 04:46:26 PM

Quote from: User705 on January 14, 2015, 04:43:49 PM

And that assumes an honest market which now that Wall Street is involved is anybodies guess.

Wait, what?!? How is Wall Street involved in Bitcoin?

Yep my mistake. There is no Winkelvoss coin etf. No syndicates. No Pantera. No Second Market. No BIT. No Tim Draper. And of course all those people with money and connections have no influence at exchanges. The regular stock market is full of fail to deliver and shorts without actual borrowed shares. But that could never happen to bitcoin. You're right.

Meh, this is peanuts to them. Bitcoin trading should be conducted by licensed brokers on regulated exchanges. The bitcoins on exchanges should be whitelisted by regions and only transferable in and out of exchanges by brokers. Of course they can be mixed outside of exchanges. I think that would end wild speculation and give markets a chance to cool down. If you want to gamble bitcoins, casinos would be more fun than getting goxxed.

Bitcoin trading should be conducted by anyone that wants to do so. There is a rumor it is a peer to peer technology. Exchange not required.

cbeast

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Let's talk governance, lipstick, and pigs.

Quote from: User705 on January 14, 2015, 04:53:27 PM

Quote from: cbeast on January 14, 2015, 04:46:26 PM

Quote from: User705 on January 14, 2015, 04:43:49 PM

And that assumes an honest market which now that Wall Street is involved is anybodies guess.

Wait, what?!? How is Wall Street involved in Bitcoin?

Yep my mistake. There is no Winkelvoss coin etf. No syndicates. No Pantera. No Second Market. No BIT. No Tim Draper. And of course all those people with money and connections have no influence at exchanges. The regular stock market is full of fail to deliver and shorts without actual borrowed shares. But that could never happen to bitcoin. You're right.

Meh, this is peanuts to them. Bitcoin trading should be conducted by licensed brokers on regulated exchanges. The bitcoins on exchanges should be whitelisted by regions and only transferable in and out of exchanges by brokers. Of course they can be mixed outside of exchanges. I think that would end wild speculation and give markets a chance to cool down. If you want to gamble bitcoins, casinos would be more fun than getting goxxed.

User705

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First 100% Liquid Stablecoin Backed by Gold

Quote from: cbeast on January 14, 2015, 04:46:26 PM

Quote from: User705 on January 14, 2015, 04:43:49 PM

And that assumes an honest market which now that Wall Street is involved is anybodies guess.

Wait, what?!? How is Wall Street involved in Bitcoin?

Yep my mistake. There is no Winkelvoss coin etf. No syndicates. No Pantera. No Second Market. No BIT. No Tim Draper. And of course all those people with money and connections have no influence at exchanges. The regular stock market is full of fail to deliver and shorts without actual borrowed shares. But that could never happen to bitcoin. You're right.

cypherdoc

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Quote from: cbeast on January 14, 2015, 04:46:26 PM

Quote from: User705 on January 14, 2015, 04:43:49 PM

And that assumes an honest market which now that Wall Street is involved is anybodies guess.

Wait, what?!? How is Wall Street involved in Bitcoin?

They aren't but they are waiting/hoping with baited breath that it fails or gets hacked. Trouble is, the price right now is merely exposing fear and emotion while ignoring that it has not failed or been hacked. THAT is bad news for bears. We're very close to a major buying point. Leveraged longs are starting to build on Bitfinex.

cbeast

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Let's talk governance, lipstick, and pigs.

Quote from: User705 on January 14, 2015, 04:43:49 PM

And that assumes an honest market which now that Wall Street is involved is anybodies guess.

Wait, what?!? How is Wall Street involved in Bitcoin?

User705

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First 100% Liquid Stablecoin Backed by Gold

Quote from: cypherdoc on January 14, 2015, 01:45:21 PM

Dow -350

are you sure you want to sell BTC?

Why not. With previous high broken through and badly who knows where the real bottom lies. It not like anyone will be selling their houses to buy back BTC just yet or ever. With most selling done in the high 100s or 1000s the smart entry point for BTC is likely lower. And that assumes an honest market which now that Wall Street is involved is anybodies guess. But it appears we are getting closer.

digitaltangible

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There is hope. Gold is opening up trades and new avenues for Bitcoin demand.

Our latest blog post: Three Reasons Why Physical Gold and Bitcoin Trading Beats the USD Exchanges

http://research.digitaltangibletrust.com/wp-content/uploads/2015/01/bitcoin_capitulation.png

Cheers,
DigitalTangible Team

cypherdoc

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here's the 10 yr weekly:

cypherdoc

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i swear, the Bank of Greece is dead, dead, frickin dead. and for years now:

smoothie

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LEALANA Bitcoin Grim Reaper

Quote from: cypherdoc on January 14, 2015, 03:46:49 PM

2y chart of copper, who the hell needs copper? let alone FCX:

No one needs copper or other commodities, just fiat paper or digital toilet paper.

cypherdoc

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just to highlight, FCX, the biggest copper mine in the world, let alone for other metals, down a whopping -11.07% today alone:

RIP inflation. it's DEFLATION, that sweet smell (or rancid).

cypherdoc

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2y chart of copper, who the hell needs copper? let alone FCX:

smoothie

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LEALANA Bitcoin Grim Reaper

Quote from: JorgeStolfi on January 14, 2015, 03:35:59 PM

Quote from: cypherdoc on January 14, 2015, 01:45:21 PM

Dow -350
are you sure you want to sell BTC?

Bitcoin -90

So Dow's drop was 4x that of Bitcoin. Can't argue with that.

Stock market is inflated to high hell.

I never liked the idea of investing in a company I did not run or control some way some how.

Counter party risk...ewwww.

JorgeStolfi

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Quote from: cypherdoc on January 14, 2015, 01:45:21 PM

Dow -350
are you sure you want to sell BTC?

Bitcoin -90

So Dow's drop was 4x that of Bitcoin. Can't argue with that.

cypherdoc

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The time a major financial institution was hacked in under 15 minutes

What about virtual currencies? People say they are secure and relatively anonymous, and folks are working to integrate Bitcoin into the financial system.

Bitcoin is used not only for legitimate financial transactions but for financial transactions amongst the folks who are doing the hacking. So I think it's going to be interesting to see — in one sense, if hackers, cybercriminals are using Bitcoin to move money around or do money laundering or other things as part of the financial portion of their operations, they're probably going to be somewhat reticent to develop ways to compromise Bitcoin. And actually Bitcoin itself is obviously based on an encryption algorithm, so that in some ways creates inherent security, as well. One could speculate that that would not be an attractive target because the guys who are the attackers are also using it. That's number one.

Number two, it comes down to how easy a target is to breach. There's fundamentally two parts to the formula for cybercriminals. One is, how big a target? How juicy is it? How attractive is it? How much money is there to steal? The other one is, how easy is it to breach? In mobile malware, for example, we see over 98 percent of the mobile malware that's created is created for Android. Why? Because it's much, much easier to exploit than iOS.

In the case of Bitcoin, you have to look at it relative to other forms of currency and things guys could go steal. I don't think it's the most attractive target because of not only who's using it but the difficulty in compromising Bitcoin.

As Bitcoin becomes more integrated with the financial system, do you see its role shrinking as the mode of exchange for hackers? Or do they wind up coexisting somehow?

That's a great question. This is purely my personal opinion, but I would expect to see it coexisting. I don't necessarily see it going away, and I'm not sure it gets more dangerous because of the anonymity that's involved for cybercriminals to use it and risk getting caught.

http://www.washingtonpost.com/blogs/the-switch/wp/2015/01/14/the-time-a-major-financial-institution-was-hacked-in-under-15-minutes/

cypherdoc

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gold looks like it's weakening.

smoothie

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LEALANA Bitcoin Grim Reaper

Quote from: cypherdoc on January 14, 2015, 01:55:53 PM

Quote from: smoothie on January 14, 2015, 01:52:01 PM

try a different graph to get your data from. It seems my link is much more thorough than yours (even if it isn't complete in the entire history of price).

Just for future reference.

yep, you're right. my apologies.

No worries man. More power to you now (info and all).

cypherdoc

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Quote from: smoothie on January 14, 2015, 01:52:01 PM

try a different graph to get your data from. It seems my link is much more thorough than yours (even if it isn't complete in the entire history of price).

Just for future reference.

yep, you're right. my apologies.

smoothie

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LEALANA Bitcoin Grim Reaper

Quote from: cypherdoc on January 14, 2015, 01:44:12 PM

Quote from: smoothie on January 14, 2015, 01:39:08 PM

Quote from: cypherdoc on January 14, 2015, 11:47:04 AM

new all time low vs Bitcoin:

wrong. LTC's all time low is 0.0004 BTC or $0.005

Cypher let's use all the facts and not just cherry pick them okay? Cheesy

correct me if i'm wrong but the chart price on the R side axis is in terms of BTC. is it not at an all time low?

This is not a complete data chart as I was there when btc-e traded LTC at 0.0004BTC or half a penny.

Even this chart (which isn't complete as well) has a low of 0.002X as the low: http://www.cryptocoincharts.info/pair/ltc/btc/btc-e/alltime

Right now price is at 0.00669 BTC.

So no it isn't an accurate claim to say that litecoin is at an all time low vs BTC in direct or fiat comparison.

try a different graph to get your data from. It seems my link is much more thorough than yours (even if it isn't complete in the entire history of price).

Just for future reference.

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