rpietila Wall Observer - the Quality TA Thread ;) - page 134.

threecats

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Merit: 250

Quote from: Roy Badami on August 02, 2014, 08:35:49 AM

Quote from: ArticMine on August 01, 2014, 10:46:30 PM

Quote from: ?? on ??

So this could be the end of the bitcoin bubbles, possibly. Will a competitor come and dethrone bitcoin? Or, are we just entering a new and much smaller growth period?

This may depend on how the question of the 1 MB max blocksize limit is handled. One thing is certain without an increase in this limit, and a hark fork is necessary for this, Bitcoin will be dethroned by a competitor. Once the limit is reached transaction fees will skyrocket as an ever growing number of transactions compete for the 1 MB space every 10 min. Fortunately Gavin Andresen understands the need for this. So do other Bitcoin developers. The real question in my mind is will they muster the necessary community consensus to make this hard fork happen?

I don't think there's any plausible scenario in which the death of Bitcoin is somehow an opportunity for some altcoin to take its place. The death of Bitcoin would be the death of cryptocurrency.

I don't agree. BTC is currently caught in the middle of two somewhat conflicting pulls: 1) a means of commerce and 2) and a deeper evolution of modern politics: that is, the changing balance of power between the individual and the state. At this point there are alts mpving full speed ahead in both these two directions, while btc seems paralyzed in the middle. In first direction, alts like Via are moving forward with sidechain possibilities and faster transactions. In the other direction, anons like Cloak and BTCD are moving rapidly towards privacy evolutions that BTC has now forsaken.

Evolution, sythesis, antithesis - this is the nature of life. BTC and crypto in general does not stand apart from this flow.

aminorex

legendary

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Sine secretum non libertas

Quote from: Roy Badami on August 02, 2014, 08:35:49 AM

I don't think there's any plausible scenario in which the death of Bitcoin is somehow an opportunity for some altcoin to take its place. The death of Bitcoin would be the death of cryptocurrency.

Fungibility crisis. You can't stop the signal, Mal.

Roy Badami

hero member

Activity: 563

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Quote from: ArticMine on August 01, 2014, 10:46:30 PM

Quote from: ?? on ??

So this could be the end of the bitcoin bubbles, possibly. Will a competitor come and dethrone bitcoin? Or, are we just entering a new and much smaller growth period?

This may depend on how the question of the 1 MB max blocksize limit is handled. One thing is certain without an increase in this limit, and a hark fork is necessary for this, Bitcoin will be dethroned by a competitor. Once the limit is reached transaction fees will skyrocket as an ever growing number of transactions compete for the 1 MB space every 10 min. Fortunately Gavin Andresen understands the need for this. So do other Bitcoin developers. The real question in my mind is will they muster the necessary community consensus to make this hard fork happen?

I don't think there's any plausible scenario in which the death of Bitcoin is somehow an opportunity for some altcoin to take its place. The death of Bitcoin would be the death of cryptocurrency.

JayJuanGee

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Self-Custody is a right. Say no to"Non-custodial"

Quote from: Bagatell on August 02, 2014, 05:32:04 AM

Quote from: JayJuanGee on August 02, 2014, 05:18:11 AM

I will take that as a "hello".

Don't. He meant roundabout, indirect, circuitous, wandering, oblique, discursive, tortuous, rambling.

Let me add long-winded, wordy and windy.

Yeah... actually, I looked up the word b/c I had NOT seen it previously, and I was trying to give him some benefit of the doubt by merely characterizing his comment as a "hello."

I take it that you may be bored with the current bitcoin price situation, and that could be why you felt some need to chime in with clarification and additional observations from your viewpoint?

Bagatell

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Quote from: JayJuanGee on August 02, 2014, 05:18:11 AM

I will take that as a "hello".

Don't. He meant roundabout, indirect, circuitous, wandering, oblique, discursive, tortuous, rambling.

Let me add long-winded, wordy and windy.

JayJuanGee

legendary

Activity: 3836

Merit: 10832

Self-Custody is a right. Say no to"Non-custodial"

Quote from: nanobrain on August 02, 2014, 02:13:03 AM

Quote from: JayJuanGee on August 01, 2014, 04:25:45 PM

Quote from: Wexlike on August 01, 2014, 11:55:57 AM

wow, a few member really try hard to increase their post counter... Roll Eyes

Nothing wrong with that, so long as there is some substance to it.

This from Bitcointalk's very own...

and most periphrastic poster to ever grace an internet forum.

I will take that as a "hello". And, hi to you, Nanobrain.

You and I have had some difference of opinions in the past, but to each his own, and currently, I am thinking that there may be some attempt to try to turn this week's MACD candle red, before it closes out (on Sunday?) before we thereafter may be ready to choo choo a little bit into the upper $600s maybe later in the week or possibly into the following week.

nanobrain

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Dumb broad

Quote from: JayJuanGee on August 01, 2014, 04:25:45 PM

Quote from: Wexlike on August 01, 2014, 11:55:57 AM

wow, a few member really try hard to increase their post counter... Roll Eyes

Nothing wrong with that, so long as there is some substance to it.

This from Bitcointalk's very own...

and most periphrastic poster to ever grace an internet forum.

ArticMine

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Monero Core Team

Quote from: BTCtrader71 on August 01, 2014, 10:54:13 PM

Quote from: ArticMine on August 01, 2014, 10:46:30 PM

This may depend on how the question of the 1 MB max blocksize limit is handled. One thing is certain without an increase in this limit, and a hark fork is necessary for this, Bitcoin will be dethroned by a competitor. Once the limit is reached transaction fees will skyrocket as an ever growing number of transactions compete for the 1 MB space every 10 min. Fortunately Gavin Andresen understands the need for this. So do other Bitcoin developers. The real question in my mind is will they muster the necessary community consensus to make this hard fork happen?

In the absence of a hard fork, how soon do we expect to hit this limit?

I have heard estimates in the range of one year. What I would recommend, however, is to spend some time at https://blockchain.info/ and take a look at what is actually happening in the Bitcoin network in real time and then form one's own opinion, rather than depend on what I or someone else may say.

BTCtrader71

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Quote from: ArticMine on August 01, 2014, 10:46:30 PM

This may depend on how the question of the 1 MB max blocksize limit is handled. One thing is certain without an increase in this limit, and a hark fork is necessary for this, Bitcoin will be dethroned by a competitor. Once the limit is reached transaction fees will skyrocket as an ever growing number of transactions compete for the 1 MB space every 10 min. Fortunately Gavin Andresen understands the need for this. So do other Bitcoin developers. The real question in my mind is will they muster the necessary community consensus to make this hard fork happen?

In the absence of a hard fork, how soon do we expect to hit this limit?

ArticMine

legendary

Activity: 2282

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Monero Core Team

Quote from: ?? on ??

So this could be the end of the bitcoin bubbles, possibly. Will a competitor come and dethrone bitcoin? Or, are we just entering a new and much smaller growth period?

This may depend on how the question of the 1 MB max blocksize limit is handled. One thing is certain without an increase in this limit, and a hark fork is necessary for this, Bitcoin will be dethroned by a competitor. Once the limit is reached transaction fees will skyrocket as an ever growing number of transactions compete for the 1 MB space every 10 min. Fortunately Gavin Andresen understands the need for this. So do other Bitcoin developers. The real question in my mind is will they muster the necessary community consensus to make this hard fork happen?

bassclef

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Quote from: ?? on ??

So this could be the end of the bitcoin bubbles, possibly. Will a competitor come and dethrone bitcoin? Or, are we just entering a new and much smaller growth period?

Bubbles don't go straight up. They pause and correct, sometimes for *gasp* days.

JayJuanGee

legendary

Activity: 3836

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Self-Custody is a right. Say no to"Non-custodial"

Quote from: ?? on ??

So this could be the end of the bitcoin bubbles, possibly. Will a competitor come and dethrone bitcoin? Or, are we just entering a new and much smaller growth period?

That's the one thousand dollar question. I tend to believe that there are going to be a couple more bubble b/c nothing is really coming forth to replace BTC... NONE of them has even come close to BTC's market cap, yet...

nioc

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I have experienced the last 2 bubbles but had no idea at the time what was going on. Even though I owned some btc I had only limited knowledge. I would stare at my computer completely mesmerized. I would fall asleep to the charts and wake up in the middle of the night to look.

May you experience the joy and wonder of a bubble.

I only found my way to the speculation section after this year's prolonged down trend as I was trying to find out what was happening. Amongst (google spell check has led me to the current opinion that amongst is archaic, really?) all the noise in Adam's thread there were pearls of knowledge and wisdom. Then I started follwing this thread as well.

May the knowledge you have obtained not diminish the wonder.

JayJuanGee

legendary

Activity: 3836

Merit: 10832

Self-Custody is a right. Say no to"Non-custodial"

Quote from: rpietila on August 01, 2014, 02:42:36 PM

Quote from: SlipperySlope on August 01, 2014, 02:14:29 PM

Here is the Bitstamp price chart at 3-day resolution. I drew the price resistance line at $681. The rightmost candle currently has the form of a "hammer" which often marks a trend reversal. We could be moving up from here into the $600's this month. On the other hand a hammer can also indicate the midpoint of a trend - but there is an abundance of good news and no bad news so I expect sentiment to not get worse.

The expected July rally did not occur. I am wondering to what extent 2014 price action will resemble 2012 price action as both these periods followed a year of dramatic rallies.

The all-time price trendline slope hit its high of 0.003868 in 9/2011. Then it came down to 0.003127 for 2013/1. Ever since it has been in the range of 0.003012-0.003127, a remarkably tight range. It is interesting to see, when we start to rise, since at the current price of -0.5 relative to the trend, the slope is starting to decline rapidly. Whether we manage to get back to 0.003, whether the exponential trend continues with a markedly lower slope, or whether the trend (and Bitcoin) is broken, remains to be seen.

I am leaning towards the first scenario nevertheless. The developments are such that it is not hard to imagine $100-$1,000 billion market cap in the near future.

You are much more sophisticated than me when it comes to charts, yet I would NOT be surprised to find some lowering of the slope angle...

Even though 10x per year does seem feasible to continue in the next couple of years.. maybe somewhere between 5x and 8x would be more realistic? Even between 5x and 8x is quite a rosey picture, and I would be content with sustainable 2x... but I have yet to experience my first bubble.

JayJuanGee

legendary

Activity: 3836

Merit: 10832

Self-Custody is a right. Say no to"Non-custodial"

Quote from: nioc on August 01, 2014, 12:10:26 PM

Is anybody looking at the wall?

Something is happening!!!

OK back on topic. Is very human behavior subject to self regulation, aka self control, now a disorder? I know those designations benefit the pharmaceutical companies.

If you are serious about working, then you would NOT want to list these supposed limitations or disorders - unless you really believe that they are gonna interfere.... A disorder about NOT being able to take orders is gonna be really problematic when you trying to prove yourself or to work your way up almost any modern day career ladder...

JayJuanGee

legendary

Activity: 3836

Merit: 10832

Self-Custody is a right. Say no to"Non-custodial"

Quote from: Wexlike on August 01, 2014, 11:55:57 AM

wow, a few member really try hard to increase their post counter... Roll Eyes

Nothing wrong with that, so long as there is some substance to it.

rpietila

donator

Activity: 1722

Merit: 1036

Quote from: SlipperySlope on August 01, 2014, 02:14:29 PM

Here is the Bitstamp price chart at 3-day resolution. I drew the price resistance line at $681. The rightmost candle currently has the form of a "hammer" which often marks a trend reversal. We could be moving up from here into the $600's this month. On the other hand a hammer can also indicate the midpoint of a trend - but there is an abundance of good news and no bad news so I expect sentiment to not get worse.

The expected July rally did not occur. I am wondering to what extent 2014 price action will resemble 2012 price action as both these periods followed a year of dramatic rallies.

The all-time price trendline slope hit its high of 0.003868 in 9/2011. Then it came down to 0.003127 for 2013/1. Ever since it has been in the range of 0.003012-0.003127, a remarkably tight range. It is interesting to see, when we start to rise, since at the current price of -0.5 relative to the trend, the slope is starting to decline rapidly. Whether we manage to get back to 0.003, whether the exponential trend continues with a markedly lower slope, or whether the trend (and Bitcoin) is broken, remains to be seen.

I am leaning towards the first scenario nevertheless. The developments are such that it is not hard to imagine $100-$1,000 billion market cap in the near future.

Wexlike

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Quote from: rpietila on August 01, 2014, 01:32:50 PM

Quote from: giveBTCpls on August 01, 2014, 11:59:15 AM

Quote from: rpietila on July 30, 2014, 05:00:51 PM

Oh yes, and the starting pay is bad but the range goes up to 4000€/month.

How much would it take and based on what would one ascend to 4000€a month?

Given the right attitude and skillset, it can be achieved as soon as I have reasonable evidence that the attitude and skillset are indeed right. In other words, 3-6 months.

Quote

Unfortunately for reasons outside my control like having a family and being half autist I can't do half of these. Also, I have diagnosed "oppositional defiant disorder" so it's difficult for me to take orders without questioning every single bit of said order. Also, 400€ monthly seems too low unless standard of living in estonia is really low?

Estonian minimum wage is 284 €/month after tax. With this money, some do provide for their family. Things cost 25%-75% of what they do in the neighboring Finland.

ODD is bullshit that is used to control people. Unless, of course, you yourself realize that it is a problem for you. In this case, I kindly ask you to wise up and be a man. Life doesn't always go your way, and if you work for somebody else, it's better to obey orders.

People seek employment contracts that provide mutually maximum benefit. If you don't think that the mere fact of living in the Bitcoin castle is invaluable for you and you should actually be the one paying (like the hotel guests do), then this is probably not in the interests of either of us.

Also, please refrain from writing posts in my threads just for the reason of increasing postcount.

I think for someone in giveBTCpls situation this offer is really incredible. Estonia is indeed really cheap compared to the rest of the euro zone. Approximately everything costs only 1/3 of a western europe price. In my opinion this is an incredible offer for every intelligent, motivated, "new" but comparably poor bitcoin enthusiast. Its definitely not about the monthly paycheck. Just imagine all the contact, that you can have with all these smart(and rich) bitcoin enthusiasts. It is a great opportunity for a young and ambitious person. I am also sure, that Rpietila is a man who appreciates a good working and loyal "business member".

Just imagine the conversations that can happen between you and Rpietila:

Rpietila shouting from downstairs "Heeey, i m buying monero for 30 btc !" Imaginary You: "Argh, wait ! Wait a minute, so i can buy cheap moneros with my 0,5 btc !!" Grin

Damn it, i would totally work for you if i wouldn't have a girlfriend and studies to finish.

side effect: you can live in a fucking castle !

SlipperySlope

hero member

Activity: 686

Merit: 501

Stephen Reed

Here is the Bitstamp price chart at 3-day resolution. I drew the price resistance line at $681. The rightmost candle currently has the form of a "hammer" which often marks a trend reversal. We could be moving up from here into the $600's this month. On the other hand a hammer can also indicate the midpoint of a trend - but there is an abundance of good news and no bad news so I expect sentiment to not get worse.

The expected July rally did not occur. I am wondering to what extent 2014 price action will resemble 2012 price action as both these periods followed a year of dramatic rallies.

BitChick

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Merit: 1001

Quote from: rpietila on July 30, 2014, 05:00:51 PM

Looking for people who can obey orders, smile, clean rooms, serve tables, cook, know wines, stand long hours in scorching sun, nitpick about petty amounts, do gardening, smile, drive cars, furnish rooms, clean toilets, empty trashbins, greet guests, empty ashtrays, water lawns, sell wines, do the laundry, smile, answer repetitious questions, clean floors, obey orders and smile.

Oh yes, and the starting pay is bad but the range goes up to 4000€/month.

As we are an equal opportunity employer, being an industrial engineer is not a disqualifier.

With the exception of knowing wines (although I know plenty of whines with kids LOL) as a mom and wife I pretty much do all of this for free so this would be a huge pay increase! Maybe I should apply!? Grin

Topic: rpietila Wall Observer - the Quality TA Thread ;) - page 134. (Read 907212 times)