Topic: possible to back $1,200 ? (Read 3842 times)

you don't comprehend price discovery so I am not surprised on your response... good to know many of you are still out there that do not realize the importance of crimping 90% of inflow for arbitrage correction while they gladly taking larger funds to frontrun people with their own money in 5-7 day turnaround

Sorry I still see 50btc/day buy/sell at the price that is displayed on the page I get when I login. Who controls what?

Montana.  Where the men are men and the sheep are nervous.

and what did I say... coinbase couldn't live the same in that clamp down chaotic environment and thus had to clamp down on their end

reduced instant buys from 10btc/week to 1btc/week

the range is in their hands now, they control the floor and can easily manage their algos now

been off and on the past hour.. i was able to sell most above 980 but had to do a lot of refreshing when it acted up when i posted..
I will sit out this chaos for now

works here.

well now...

"Coinbase is currently offline"


high traffic?

I do not think those USA exchanges allow $$$ to come and go. I would have to research more of them.  If so, Kraken would.  Coinbase gets around it with their daily limits and KYC process and thus they can't be a true exchange.

Perhaps all is fine in Europe but remember what happened to TradeHill.  BitStamp is in Slovenia and BTC-e Bulgaria so those areas are probably a bit lax in reacting to USA nanny laws. (yet btc-e had to stop $$ with USA recently)  China's issues are all over the news, you know the game changed there.  Mt Gox with $$ is a farce.  And many say they can't survive without it (hence the 80% market share to ~20%?)

Innovation will have to show up soon to provide liquidity in this current AML climate.  Call that FUD, I call it concern.  Perhaps wall street has a few tricks up their sleeves to buoy this phase of bitcoin's growth.

I don't say there is no demand, just the money spigots are not as open as they were in the fall run up. Which is why I wonder about the inflow/outflows.  If we did see them we'd probably see stagnant fiat and fleeing BTC hence the drastic run up on low supply in the exchanges.

That's my guess.  In the past, I would say people would be sending btc into those exchanges to take advantage of those high prices and cash out from there. 

Ok now at least you make yourself clear. However, there's more exchanges in US than anywhere else in the world. As for btc-e - don't use it, it works fine where it was intended to, in eastern europe. Bitstamp covers western europe. Mtgox works fine for japanese. All is well. Exchanges mostly make sense locally, that has always been the case. And if you are afraid that your money is stuck - no it's not, convert to BTC, withdraw to your local exchange. There is absolutely nothing different in today's situation from half a year ago, even much better coverage of local exchanges I'd say.

you are also leaving out info.  BTC-e has stopped transfer of money with USA sources if you haven't noticed.  OKPAY has done the same. (which was a major way USA residents got money into BTC-e)  So yes BTC-e as a platform is still great but the money flow has changed.  'China is still there'?  China has drastically changed how they deal with money as well..these both resemble what Gox has dealt with.

I said etc, etc as the other payment processors like OKPAY have all followed suit.

All you stated was moving BTC out from an exchange to Coinbase to cash out.  I stated that seems to be the last resort and would be a tipping point if everyone starts crowding one side (the outflow as you and I did today, and many others no doubt)

So I guess you don't have concerns until your car breaks down and never see the problem present itself before it breaks?

This data is not available right, why would anyone want to provide it? I doubt you can get this info even from your heavily regulated bank unless you are in a monitoring position... You still didn't list you concern's sources. What is the problem you are afraid of, again? btc-e works fine. China is still there, reporting highest trade volumes. OKPay is not a bitcoin exchange at all. "ETC ETC" is a generic term meaning you have something else to add - please do.

again snide...  if you get around to lowering your nose to see straight you will see that the run-up from the $100's was directly fueled by exchanges and coinbase widening the paths for money into the bitcoin price discovery.. and now they are closing (china, btc-e, okpay, etc etc) the tipping point will be if coinbase has to do something drastic.

as I said before, for transparency we would have to see the inflow/outflows of BTC & fiat from exchanges to answer this question and I don't believe this data is anywhere available except with those running the exchanges

PS- everyone is doing what you just did.. I did it as well today which is my concern

Well your question has nothing but FUD, too, so I answered accordingly. I don't see any "money trap" effects on any of the exchanges I am using. In fact, I don't even see it at the Gox, considering the correct definition of money - just transferred 20btc out, came in half an hour later. Coinbase works just as perfect as always on the sell side. So again, what exactly are your "concerns" based on?

snide and nothing constructive to add...  lest you rather go back to spending 10,000 BTC on a pizza you might want to take note of the situation forming

no.

anyone else concerned on the mt gox money trap effect spreading?

is there any inflow/outflow reports of $$/BTC posted by any of these exchanges?

can coinbase survive without switching to a canyon wide buy/sell spread soon?


ringing the alarm now before the real panic sets in and these exchange prices become only real on the buy side in exchanges and selling bitcoin hits the floor outside of these liquidity traps...


we might all have to start volunteering to help places like Kraken actually succeed in registering in each state.  Once money can flow both ways price discovery will get interesting but it will be a lot more real than now (whether it crashes or flys to the moon)


If there is a sub forum already addressing these issues, please let me know  thx

Thank God for Proudhon's sources! At least we know what's gonna happen, confirmed sources and all

Yep, looks like we might be heading back to 70 - 90 soon. BTC/LTC parity to happen by October, then competition will decide the true fate of bitcoin.

your back in spec? wow, when did this happen...?

collective as in sum? i do hope it's average

The collective IQ of this forum is about 70, which is pretty good considering the trollbox is around 50. Still, you shouldn't expect too much.   

Am I the only one who sees nothing but sarcasm and imitating bears with hollow arguments in his post? Nvm then, carry on

MT= Money Train 

I wonder how many coins does Proudhon has and what's his real reason for saying bearish.

Because sometimes I also write bearish posts just because I need bulls to counter me and tell me what I need to hear: bitcoin = quazzilion!

Note: Sometimes

I spoke to MT last night, he said your status as a contra-indicator is still intact.

Sorry, not possible.  Sources have confirmed from China, that bitcoin will continue to crash around the world.  I have some links somewhere, all in Chinese of course, but I can't be bothered to locate them right now.  Point is, 2013 was bitcoin's last flash in the pan.  It's all down hill from here.  Also, India, and sources.  Also, some other sources and such.  You know the drill.

Good evening Black Swan. I like to try to use words like "company", "bubble", "shares", "IPO" (that last one not actually 1 word but 3) in order to be able to discuss Bitcoin easily and fluidly in the context of the existing Internet space. I think it is very useful to look at Internet companies when thinking about how Bitcoin can grow, particularly looking at "competition" such as other "digital currencies", the nature of "viral marketing" etc. etc.

I thought about your proposition to "cash out FIAT" - think I'll give it a miss for the time being if you don't mind!

Cheerio.  

how can one bring about a rally when his pockets are MT?

Clearly OP is talking about Motor Trend magazine. They must be planning on writing a piece on how hip it is to buy cars with bitcoin. 

Bitcoin is *not* a company, hello???
You clearly don't understand bitcoin, better cash out FIAT asap

Oh yeah, MT has some big plans for bitcoin. Keep on the look out, y'all.

MT is the state of Montana, right?

Yeah, especially if you look at the current prices from beginning of the last year perspective

With BTC - Everything is possible

No one, not even MT (who the h*ll he/she/it may be), can bring the btc price back to $1200.

Having said that, it's NOT only possible, but HIGHLY likely that it will hit $1200 some time this year and surpass it, maybe a few times before settling on a new ALL TIME HIGH.

I am betting with all my idle cash.

Today for Internet-based companies 5 years is a long time. In 5 years Bitcoin will be massively adopted (alongside fiat currency, not in place of), or it will have fallen long before.

I'm not sure what MT means.  But certainly if bitcoin adoption continues to expand and more and more people start to realize bitcoin isn't going away and it wasnt just an insane 1 year speculative wonder ,  then yes it's very likely bitcoin will go back to $1,000+  possibly quite more.

Personally I think bitcoin is overvalued right now. But if you start to think about the role it will play in society in 5-10-15 years , then I would argue bitcoin is actually undervalued.

if chnia market still low

will MT bring the price back to $1,000?

share your point