Coin
Explanation
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 20555. (Read 26607044 times)
October 27, 2015, 12:01:33 AM
October 26, 2015, 11:58:47 PM
chinese devaluation of yuan is already priced in.
no choo choo for you bulls, unless you are on mETH.
Says the guy who's underwater on the bulk of his shorts.no choo choo for you bulls, unless you are on mETH.
Assuming you actually trade the way you talk, which I highly doubt.
October 26, 2015, 11:51:41 PM
That's why I come here...all the wonderful people saying exactly what I want to hear.
Aww, you're so kind.
I missed you too lambsie!
Sorry, not lambsie. I seem to recall him/her, but it's been a year since I last lurked here.
Wait, wasn't there something about a sacrificial lamb a few pages back?
October 26, 2015, 11:13:37 PM
Now why the hell would you want another bubble to form? There is just too much evidence of basic economics that this is not healthy for the bitcoin economy because there is always correction in the market, and with the bitcoin market it goes full retard with over correctness and will bury us below $200 again... slow and steady is always the most viable option for anyone who is truly into cryptocurrency being, well, a fucking currency rather than some get quick rich ponzi scheme.
Well it's sort of hard to apply traditional economic theory to something never before seen in history. That being said no one complained that the US Dollar ballooned in value too quickly after WW2, if something has value in the free market it will realize its true price faster than you think.
You nailed it. We've been in a bear market for what, 20 months? I'm inclined to think it's undervalued and we're due for a significant market correction. And that's if nothing outside the Bitcoin ecosystem changes...any number of things will skyrocket the price past $10k. Some of those are so likely it's not a question of if, but when.
October 26, 2015, 11:07:49 PM
That's why I come here...all the wonderful people saying exactly what I want to hear.
Aww, you're so kind.
I missed you too lambsie!
October 26, 2015, 11:01:33 PM
October 26, 2015, 10:54:01 PM
Now why the hell would you want another bubble to form? There is just too much evidence of basic economics that this is not healthy for the bitcoin economy because there is always correction in the market, and with the bitcoin market it goes full retard with over correctness and will bury us below $200 again... slow and steady is always the most viable option for anyone who is truly into cryptocurrency being, well, a fucking currency rather than some get quick rich ponzi scheme.
Well it's sort of hard to apply traditional economic theory to something never before seen in history. That being said no one complained that the US Dollar ballooned in value too quickly after WW2, if something has value in the free market it will realize its true price faster than you think.
October 26, 2015, 10:44:56 PM
I thought that we were going to have a mini-rally on stamp to take the price to $295-$298-ish, but such mini-rally seems to have petered out in the $290 price spot.... or is that a false start?
We're bound to see some profit-taking, but I think it will pick up again. Does anyone else see the curves in the 1h, 2h, 4h, and 6h charts? Below 1h it looks like a line but it's still there. There's the occasional deviation above and below but take those away and the data almost fits a simple growth model. With a little imagination the curve even extends back before the dip in August, if you look at the 12h. I don't know what to make of it. Opinions?
I've been watching the 12 hour chart the past few weeks.
It's the sexiest thing I've seen since early 2013 when we finally broke and held above 10 dollars, and then it was of to the races.
*Actually, this might be even sexier, because it's just so methodical and relentless.
**btw, is tarmi still short?
That's why I come here...all the wonderful people saying exactly what I want to hear.
If this is the next bubble forming, judging from the log charts, we could hit $1000 again by Xmas.
That's what I want. You hear me Santa?!? I've been good this year, dammit.
Now why the hell would you want another bubble to form? There is just too much evidence of basic economics that this is not healthy for the bitcoin economy because there is always correction in the market, and with the bitcoin market it goes full retard with over correctness and will bury us below $200 again... slow and steady is always the most viable option for anyone who is truly into cryptocurrency being, well, a fucking currency rather than some get quick rich ponzi scheme.
October 26, 2015, 10:41:40 PM
I thought that we were going to have a mini-rally on stamp to take the price to $295-$298-ish, but such mini-rally seems to have petered out in the $290 price spot.... or is that a false start?
We're bound to see some profit-taking, but I think it will pick up again. Does anyone else see the curves in the 1h, 2h, 4h, and 6h charts? Below 1h it looks like a line but it's still there. There's the occasional deviation above and below but take those away and the data almost fits a simple growth model. With a little imagination the curve even extends back before the dip in August, if you look at the 12h. I don't know what to make of it. Opinions?
I've been watching the 12 hour chart the past few weeks.
It's the sexiest thing I've seen since early 2013 when we finally broke and held above 10 dollars, and then it was of to the races.
*Actually, this might be even sexier, because it's just so methodical and relentless.
**btw, is tarmi still short?
That's why I come here...all the wonderful people saying exactly what I want to hear.
If this is the next bubble forming, judging from the log charts, we could hit $1000 again by Xmas.
That's what I want. You hear me Santa?!? I've been good this year, dammit.
October 26, 2015, 10:36:04 PM
chinese devaluation of yuan is already priced in.
no choo choo for you bulls, unless you are on mETH.
no choo choo for you bulls, unless you are on mETH.
October 26, 2015, 10:06:37 PM
as i understand it one new victim buys btc and sends them to MMM which takes some of the BTC and sells them to pay the older victims
so afterall it should lead to revenue but not necessarily buy pressure
Wow, I couldn't really fathom trusting a guy from China who is known for being a scammer... but then again I guess that does make sense, because just recently I got suckered into losing some bitcoin in a ponzi over in the investor games subforum when I first learned about this place... So I can't say that those people are "dumb" necessarily for doing that, but like you said... victims...
It wasn't till after I started reading about scam after scam people do in that subforum, so ever since then I've stayed far away... should've looked more into it. But everyones looking to make a quick and easy buck when the opportunity is presented to them.
He's not chinese, and this new scam is being run simultaneously in a bunch of different countries. https://en.wikipedia.org/wiki/Sergei_Mavrodi
Also as I said before:
So I was initially skeptical about the amount of demand coming from the MMM Global ponzi. Now okcoin is addressing it directly:
https://www.reddit.com/r/BitcoinMarkets/comments/3qd7cc/this_week_at_okcoin_china_update_mmm_ponzi/
No idea what % of this chinese led rise is attributable to it, but it is certainly cause for concern.
https://www.reddit.com/r/BitcoinMarkets/comments/3qd7cc/this_week_at_okcoin_china_update_mmm_ponzi/
No idea what % of this chinese led rise is attributable to it, but it is certainly cause for concern.
October 26, 2015, 10:01:57 PM
October 26, 2015, 09:59:37 PM
as i understand it one new victim buys btc and sends them to MMM which takes some of the BTC and sells them to pay the older victims
so afterall it should lead to revenue but not necessarily buy pressure
Wow, I couldn't really fathom trusting a guy from China who is known for being a scammer... but then again I guess that does make sense, because just recently I got suckered into losing some bitcoin in a ponzi over in the investor games subforum when I first learned about this place... So I can't say that those people are "dumb" necessarily for doing that, but like you said... victims...
It wasn't till after I started reading about scam after scam people do in that subforum, so ever since then I've stayed far away... should've looked more into it. But everyones looking to make a quick and easy buck when the opportunity is presented to them.
October 26, 2015, 09:55:45 PM
I thought that we were going to have a mini-rally on stamp to take the price to $295-$298-ish, but such mini-rally seems to have petered out in the $290 price spot.... or is that a false start?
We're bound to see some profit-taking, but I think it will pick up again. Does anyone else see the curves in the 1h, 2h, 4h, and 6h charts? Below 1h it looks like a line but it's still there. There's the occasional deviation above and below but take those away and the data almost fits a simple growth model. With a little imagination the curve even extends back before the dip in August, if you look at the 12h. I don't know what to make of it. Opinions?
I've been watching the 12 hour chart the past few weeks.
It's the sexiest thing I've seen since early 2013 when we finally broke and held above 10 dollars, and then it was of to the races.
*Actually, this might be even sexier, because it's just so methodical and relentless.
**btw, is tarmi still short?
October 26, 2015, 09:54:57 PM
So I was initially skeptical about the amount of demand coming from the MMM Global ponzi. Now okcoin is addressing it directly:
https://www.reddit.com/r/BitcoinMarkets/comments/3qd7cc/this_week_at_okcoin_china_update_mmm_ponzi/
No idea what % of this chinese led rise is attributable to it, but it is certainly cause for concern.
https://www.reddit.com/r/BitcoinMarkets/comments/3qd7cc/this_week_at_okcoin_china_update_mmm_ponzi/
No idea what % of this chinese led rise is attributable to it, but it is certainly cause for concern.
So essentially this price rise lately has been due to abunch of very wealthy Chinese ponzi schemers? Also, is the base price of bitcoin usually related to bitstamps prices over anything else? Just curious.
As I understand it, the buying pressure would be from the ponzi
It's certainly not a new phenomena. When I was first getting into bitcoin, there was a guy on these forums going by the name pirateat40. He ran a ponzi he called Bitcoin Savings and Trust. By giving out impossible interest rates at the beginning, he wound up in control of something like 200k+ bitcoins. Inevitably it collapsed and he ended up being identified, charged, and convicted.
The two are quite different in that pirateat40 was an amateur and this Mavrodi is basically the most professional scammer there is.
Many people around here trust the prices on bitstamp because it is quite old and doesn't offer leverage. But as you can see now, China is very important to the way things play out. We're over $300 in yuan equivalent and bitstamp/bitfinex are still hovering at $292.
So essentially the whole China market is a hoax and a forced bubble created by that guy? I thought that there were very wealthy people over in China who are merging their funds into bitcoin because of an ill economy over there or something of the sort?
October 26, 2015, 09:54:25 PM
as i understand it one new victim buys btc and sends them to MMM which takes some of the BTC and sells them to pay the older victims
so afterall it should lead to revenue but not necessarily buy pressure
October 26, 2015, 09:49:17 PM
So I was initially skeptical about the amount of demand coming from the MMM Global ponzi. Now okcoin is addressing it directly:
https://www.reddit.com/r/BitcoinMarkets/comments/3qd7cc/this_week_at_okcoin_china_update_mmm_ponzi/
No idea what % of this chinese led rise is attributable to it, but it is certainly cause for concern.
https://www.reddit.com/r/BitcoinMarkets/comments/3qd7cc/this_week_at_okcoin_china_update_mmm_ponzi/
No idea what % of this chinese led rise is attributable to it, but it is certainly cause for concern.
So essentially this price rise lately has been due to abunch of very wealthy Chinese ponzi schemers? Also, is the base price of bitcoin usually related to bitstamps prices over anything else? Just curious.
As I understand it, the buying pressure would be from the ponzi
It's certainly not a new phenomena. When I was first getting into bitcoin, there was a guy on these forums going by the name pirateat40. He ran a ponzi he called Bitcoin Savings and Trust. By giving out impossible interest rates at the beginning, he wound up in control of something like 200k+ bitcoins. Inevitably it collapsed and he ended up being identified, charged, and convicted.
The two are quite different in that pirateat40 was an amateur and this Mavrodi is basically the most professional scammer there is.
Many people around here trust the prices on bitstamp because it is quite old and doesn't offer leverage. But as you can see now, China is very important to the way things play out. We're over $300 in yuan equivalent and bitstamp/bitfinex are still hovering at $292.
October 26, 2015, 09:48:03 PM
Bitstamp bid support is growing like a boss. Love it.
Exactly what we need to ramp up to higher prices.
Exactly what we need to ramp up to higher prices.
Sorry for the newb question... but where can I see instant transactions taking place on multiple exchange sites at once?
You can also take a look at this:
https://hypron.net/bitcoinwisdom/
Oh and by the way, I've taken a look at this site and this is exactly what I had in mind thank you... but it comes with another question... There seems to be quite a lot of sell orders on coinbase and doesn't really seem to move the market at all really. I also noticed that they don't have the amount of bitcoins they sell off, is that because all of the transaction there aren't "instant"?
October 26, 2015, 09:47:27 PM
So I was initially skeptical about the amount of demand coming from the MMM Global ponzi. Now okcoin is addressing it directly:
https://www.reddit.com/r/BitcoinMarkets/comments/3qd7cc/this_week_at_okcoin_china_update_mmm_ponzi/
No idea what % of this chinese led rise is attributable to it, but it is certainly cause for concern.
https://www.reddit.com/r/BitcoinMarkets/comments/3qd7cc/this_week_at_okcoin_china_update_mmm_ponzi/
No idea what % of this chinese led rise is attributable to it, but it is certainly cause for concern.
Incredible that there are mountains of easily accessible info out there readily identifying what it is, yet people still pour into this type of thing. Stupidity and greed with never falter even in the face of bald facts.
October 26, 2015, 09:30:39 PM
So I was initially skeptical about the amount of demand coming from the MMM Global ponzi. Now okcoin is addressing it directly:
https://www.reddit.com/r/BitcoinMarkets/comments/3qd7cc/this_week_at_okcoin_china_update_mmm_ponzi/
No idea what % of this chinese led rise is attributable to it, but it is certainly cause for concern.
https://www.reddit.com/r/BitcoinMarkets/comments/3qd7cc/this_week_at_okcoin_china_update_mmm_ponzi/
No idea what % of this chinese led rise is attributable to it, but it is certainly cause for concern.
So essentially this price rise lately has been due to abunch of very wealthy Chinese ponzi schemers? Also, is the base price of bitcoin usually related to bitstamps prices over anything else? Just curious.
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