Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 25841. (Read 26609703 times)

If we will break through $480 I will make a party, holding hard.

You are right on the spot. Apart from taxing issue, people don't realize increasing usage of bitcoin for payments is one of the factors driving the price down. No one buys bitcoins to spend them immediately in retail, those payments are from holders, usually paying for some equipment. Manufacturers drop them immediately to fiat through payment processors to cover the expenses, maybe keeping just the profits in BTC, and that is also questionable. If we could take a looksie at insides of those large sell orders I bet you will see correlation with batches of miners being sold.

yeah my hook so to speak


as far as manipulation..not sure it truely is manipulation as such...just coin keeps getting made ...and probably the price reflects people who are holding are comfortable with that
but not getting more coin (i'm one of these) newbies seem to have dried up....thus with more coin and less use other then holding...by that I mean not enough useage of the coin
in the international transfer of $$$ it is made for....and add to that the cheerleaders who promote the idea of bitcoin ..home miners seem to be getting out of mining..and more
to large mining farm operations and cloud mining of whatever...seems to have fizzled in the publics eye

so not manipulation just after china and the 1100 bubble and all the centralized minning going right to usd etc...seems to me a constant process of sell with little incentive
to buy and hold bitcoin (at this time) ..i am not enthused to buy more at this time because I obviously from my posts don't know WTF I'm talking about

anyway....something hopefully will break soon upward and you can all have a laugh at my expense...just saying if you make coin and it goes to usd and you sell something
on overstock.com to a customer and it goes to usd...well it really don't matter if BTC is 10 usd or 1000 usd as long as the exchange works...just wondering wtf the bottom
is and annoyed after today on all the FUD people now seem to believe...hope you are correct ..and I just had a bad day...I just think it is gonna get (hopefully only for a bit)
worse before again hopefully it climbs back into better acceptance..again as I said right now the consensus seems to be distaste...

actually the hope is on 3rd world using this more...USA etc maybe it will always be a niche we have cc and banks and such....hopefully going better there...just saying
in the last year in my area it seems to accepted as nothing more then beanie baby scam repeat

should probably just man up and buy more coin....but again my ego took a hit today...home mining seems to be dead for me now (15c/kwh don't cut it anymore) ...cloud
minng may actually be a scam from what I can tell on prices.....just not seeing a lot of unicorns and rainbows lately

What is the evidence of manipulation? Genuinely asking, not sarcasm.

Also Searing, we know it's you that's writing your posts.

You don't need to write Searing at the end of them.

PGP signing the messages...now that might be worthwhile.




Not Searing

all mega mines as far as I know like knc etc dumpt to usd the same day for accounting
and all mega mines in USA pretty much have to do so due to IRS any holding of coin
is considered capital gains and if sold within 1 year 40% plus 25% taxed on what you mine
so if they cash out the same day to usd they get around this rule

ie....too much selling not enough holding nor useage

again i LIKELY don't know wtf I'm talking about..but seems lopsided compared to use of bitcoin
and/or holding as an investment

Searing


I am holding am not selling nor likely too...just saying that what I see as stagnation....(probably stated my views badly ...likely) but some gov't actions like China etc do have meaning
on bitcoin price..again speculating but imho if china had taken more of a USA approach to bitcoin...likely we'd be at 1.5k a coin now...so between the press/media FUD and
the fact of all the centralization of mining etc....(a lot of the proponents of BTC were home miners...ie the cheerleaders...pushing the coin..they now seemed pushed out) and the likely bubble that was china...well

just feeling melancholy

that and the fact today I had a mess of contractors and others thru my house in that it is being remodeled and they asked what the KNC jupiter miner was in the  basement (5 seperate occasions as I lead plumber/electrican/contractor for estimates  thru the house and one other neighbor who chased me down in the basement for me to fix her  laptop...)

well in each individual instance...they asked about setup i said it was a Bitcoin miner KNC Jupiter (minnesota usa) well in each instance they all acted like they found me growing pot in the basement

so from the looks on faces and rapid change of context after stating this ...I asked if they heard of it ..universally they had heard it was for drug deals and illegal was it not?

no sh*t...so i got them to come around to the view of it is independent xfer of $$$ w/o banks etc...which I'm not sure they bought...again this was 5 diff people on 5 diff occasions
in my basement seeing the miner...and stating the above...

so I guess I need lock my door and next time i troop a mess of contractors thru the basement etc ....i should throw a box over the miner...was very awkward and not just 1x ..5x I went thru this

thinking about it this evening i realized that everyone (with the exception of my brothers who speculate in markets) act like when they hear I'm in Bitcoin the same way you hear
of someone in Amway...sure people may make money with amway ..but no one wants anything to do with it...same jibe..again with the exception of my two brothers who speculate
in stocks (one for a living) since last summer NO ONE with the exception of them has NOT thought it was a scam/ponzi or illegal...all FUD...and of course you try to change their mind
but they get that closed look on face that the media/news would not spread FUD look ..ie there must be something to the bitcoin scam or they would have heard otherwise...

then again I'm so far in the sticks this may just be the way it is till the press/media do less FUD on bitcoin...so anyone I talk to about bitcoin universally in my limited view
thinks it is everything the press/media says it is ...ie a scam..

just maybe having a bad day...but I mean really Ebay announces it is taking bitcoin and nothing happens in the market....price wise it goes sideways?

well anyway will hold till btc is worth zip ...made all of it mining...still have my 1st btc....just having the beanie babies heebie jeebies after today

anyway.....the suspense of this stagnation slow drip downward is just getting to me I guess...todays little escapade did not help my view it is going to be accepted quickly either

then again they all probably think the apple pay plan is a scam too...

Searing

Searing...

You are stating that you have a feeling that BTC prices will be going down into the $300s and you are jaded, and maybe you are even attributing your being jaded to the fact that you are being squeezed in the miner world.   Accordingly you seem likely to be over-extended in your BTC investment and not enough fiat cash flow and you are feeling unable to hodl.. .and you seem to be forced to sell BTC at these low prices and you are NOT able to mine enough BTC to be profitable. 

I believe that in your above post that you are attempting to be honest with us regarding your perspective, but I also believe that you are wrong about the direction of bitcoin prices... There is a possibility that you could be correct and BTC prices will be manipulated further down - but really there just seems to be too few people willing to continue to sell BTC at these low prices, and a large number of the well-to-do whales who had been buying into BTC between $680 and $480 are going to want to get their paydays and they are going to want to manipulate the BTC prices upward as far as they can pump it and then take some profits.  This upward pump is likely going to be in the $3k to $5k territory and it could go further than that with the right kinds of pushing upward and piling on of the masses that will want to get in on the deal while it is moving upward in prices.

This upward pump may not occur in the coming weeks, but surely it is going to come sooner or later.. probably in no more than a year from now.. but seemingly within the coming months and before the middle of 2015 is more likely b/c big people and investors into BTC are likely going to be running out of patience soon and are going to want some upward price movement to cash out some of the profits.... which are much more easily to manipulate upward than downward... especially once the upward momentum starts.

In other words, I would NOT bank on such ability for downward BTC price manipulation in to the $300s, but I would maintain some cash on hand just in case there is some success in such downward BTC price manipulations in the coming months.  I am betting that the likelihood is greater that BTC's price movement is going to be upward rather than continuing to go downward.

russia to ban bitcoin apparently.

edit: just to drive home something Andreas often mentions. Officials making a currency illegal means you can be sure that they are accumulating as much of it for themselves as possible, as they understand its appeal and therefore its value.

Go ahead world leaders, make our currency illegal. It'll be just like cocaine. Reserved for you.

Explanation

I think it's nice to see it continue to rise, as this is our strength.

Too much mining? As in coins are getting created faster suddenly?

I don't like saying this...but my view (likely wrong) is it will drop to 400 or below....imho just too  much 'mining' via all the methods including
cloud hashing etc and just not enough use nor will to buy at this time...just sell asap ....hopefully this is short term...but just 'feels' like too much BTC being
converted directly to USD on all these mega farms and/or what few merchants like overstock.com etc are taking bitcoin...thus again imho we
are in this slump till around 400 usd or below...till some other aspects of use etc on Bitcoin return...(hopefully)

hoping the ETF by the facebook twins or just plain....expense of mining...glut stops and .shortens this 'slump period' again in my view ...but again i just
have a feeling that too much currency vs use and too much of that currency is being converted directly...thus an ugly pattern of bad news
or frak any news on BTC lately seems to be seen in the most negative light...and thus over reaction in my view to dump (at this time)

hope I'm wrong ...wanna be a bull......having identity crisis

anyway my view but don't mind me...I bought from BFL and Alpha Tech (got full refunds on both) and a NO ROI TITAN from KNC on order
so obviously I don't know WTF I'm talking about and am quite likely certifiably ready for a rubber room

but if BTC is a 3 legged stool mining/buying & selling/ use .... using BTC seems way back of the pack compared to the other two processes imho

just my demented view

Searing

These buying decisions are always difficult b/c you really do NOT know if there is going to be another dump attempt.  Sometimes they occur late on Sunday and sometimes they even occur on Monday... Maybe it will NOT make much of a difference if you buy at $478 or $458 (I'm talking about the price on Bitstamp for common reference).. sure it is possible, that the price could be pushed down an additional $20 or even more ... or maybe also, as you suggest, this is then lowest b/c maybe the dumpers are running out of coin and running out of ammunition and running out of resolve.  But I would NOT bank on it....

If you are really concerned that the train may leave without you and you have a stash that you are ready to invest now... maybe just for leverage, you may decide to invest approximately 80% of that stash now, and hang onto 20% of the stash, just in case the price drops further.. or whatever allocation that makes you feel comfortable, in case the price goes against your estimations.

Or over 130 billion, if you consider the DOW equivalent.

Explanation

Cheap!

http://www.zerohedge.com/news/2014-09-11/million-dollar-parking-spots-%E2%80%93-peak-stupidity-has-arrived-manhattan

Explanation

Or around 400M, if you consider the gold equivalent.

Explanation

Explanation

The US$ 7.2 million check used to pay for Alaska ($119 million in 2014 dollars)[1]

http://www.wolframalpha.com/input/?i=1867+US%247.2+million