This drop is a blessing in disguise... Let's be honest: The current infrastructure is horrible. It's embarrassing whenever I convince someone bitcoin is amazing, and then they ask how to buy them, and I struggle to tell them it takes 4 days to set up an account with coinbase... We didn't have a proper phone wallet up until a couple months ago, and it still has errors. We are still waiting for crypto hardware or easy multisig wallets to be released so that the general public can feel safe using bitcoin... Relax.
This gives us more time to perfect everything before we step up to the main stage. We know bitcoin isn't going anywhere now, it is far past the tipping point. There are amazing innovations popping up everywhere. Let's all just take a second to breathe, and give the developers a little bit of time to bring their projects online! This is the most disruptive tech the world has ever seen, its gonna take more than a couple months to change the world (and get rich...)!
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 26413. (Read 26732137 times)
August 18, 2014, 02:40:02 PM
August 18, 2014, 02:37:25 PM
Theres more than a $20 premium on cavirtex.com (its lagging) happy arbing!
Last Virtex trade was $510.96, exchange rate is $0.92 USD -> $1CAD. So, $510.96CAD is ~469.20USD. Bitstamp last trade at ~$465.29
Summary: NOPE.
August 18, 2014, 02:33:30 PM
i don't know what is worse:
this catastrophic price movement (i am losing a fortune)
or
that those goddammbeartrolls were right.
this catastrophic price movement (i am losing a fortune)
or
that those goddammbeartrolls were right.
August 18, 2014, 02:33:21 PM
Theres more than a $20 premium on cavirtex.com (its lagging) happy arbing!
August 18, 2014, 02:31:44 PM
Just posted the following on reddit in response to "wtf is causing price to fall?", thought I'd share it here, too:
-----------------
Market dynamics:
Negative feedback
Usually there is a dampening effect prevalent in the market
It's pretty easy to see: at lower prices there's more people willing to buy, at higher prices there's more people willing to sell.
This has dampening effect on price movement: each time the price wants to take a hike in any direction, it's slowed down by this.
This is called **negative feedback**, because a result of the process influences the process itself in such a way that **it reduces changes**.
However in some situations like now there are stronger effects that resemble **positive feedback**. With positive feedback, the results of the process influence the process itself in such a way that the **magnitude of the change increases**.
I can think of a couple of things that might currently be in effect and have a positive feedback on falling price:
So: the system is out of balance.
Fortunately, all of the above positive feedback effects are dependant on some resource that is reduced and ultimately depleted in the process:
So don't worry: the imbalance to the downside is only temporary ;-)
----------------
not sure how naive or accurate, but these are my thoughts on the reasons of the price fall.
-----------------
Market dynamics:
Negative feedback
Usually there is a dampening effect prevalent in the market
- when price rises, demand decreases and supply increases
- when price falls, demand increases and supply decreases
It's pretty easy to see: at lower prices there's more people willing to buy, at higher prices there's more people willing to sell.
This has dampening effect on price movement: each time the price wants to take a hike in any direction, it's slowed down by this.
This is called **negative feedback**, because a result of the process influences the process itself in such a way that **it reduces changes**.
However in some situations like now there are stronger effects that resemble **positive feedback**. With positive feedback, the results of the process influence the process itself in such a way that the **magnitude of the change increases**.
I can think of a couple of things that might currently be in effect and have a positive feedback on falling price:
- Miners: miners are forced to sell part of the mined coins to cover fiat expenses. A falling price causes them to increase the percentage of coins they have to sell => positive feedback
- Margin calls, forced liquidation: falling price can trigger leveraged longs on exchange to be automatically liquidated, which results in more selling => positive feedback
- Market participant psychology: falling price causes frustration, anger, and fear in at least some market participants, which in turn causes them to sell => positive feedback.
So: the system is out of balance.
Fortunately, all of the above positive feedback effects are dependant on some resource that is reduced and ultimately depleted in the process:
- miners: they cannot sell more than 100%
- liquidations: there's only so many longs
- psychology: the panic-sellers have only a limited amount of coins
So don't worry: the imbalance to the downside is only temporary ;-)
----------------
not sure how naive or accurate, but these are my thoughts on the reasons of the price fall.
PS: just kidding, don't take it too personal.
August 18, 2014, 02:29:45 PM
I wanna see the ~300's again 
Hello there 300's! It's been 4 months since the last time I saw you
I wanna see the ~300's again
Chances of that are very less , we haven't even seen under $400 for last few months
I wanna see the ~300's again
lol, you want price will reduce to 50%, do you know the effect of 50% down.
Price is fairly stable. Bears come out and try to talk people into selling by predicting a fall down to 3xx and 4xx. Hrmph.
August 18, 2014, 02:29:17 PM
Fairly sure you are a) not an outsider, and b) probably operate more than one similar account on btc. Who are you really?
I was a respected member of this forum in the past, but was banned by your moderators out of fear that my observations would cause a panic. Thus, I was forced to open this new account in order to spread the word of bitcoin's upcoming demise. Cut your loose while you still can!
August 18, 2014, 02:24:38 PM
Just posted the following on reddit in response to "wtf is causing price to fall?", thought I'd share it here, too:
-----------------
Market dynamics:
Negative feedback
Usually there is a dampening effect prevalent in the market
It's pretty easy to see: at lower prices there's more people willing to buy, at higher prices there's more people willing to sell.
This has dampening effect on price movement: each time the price wants to take a hike in any direction, it's slowed down by this.
This is called **negative feedback**, because a result of the process influences the process itself in such a way that **it reduces changes**.
However in some situations like now there are stronger effects that resemble **positive feedback**. With positive feedback, the results of the process influence the process itself in such a way that the **magnitude of the change increases**.
I can think of a couple of things that might currently be in effect and have a positive feedback on falling price:
So: the system is out of balance.
Fortunately, all of the above positive feedback effects are dependant on some resource that is reduced and ultimately depleted in the process:
So don't worry: the imbalance to the downside is only temporary ;-)
----------------
not sure how naive or accurate, but these are my thoughts on the reasons of the price fall.
-----------------
Market dynamics:
Negative feedback
Usually there is a dampening effect prevalent in the market
- when price rises, demand decreases and supply increases
- when price falls, demand increases and supply decreases
It's pretty easy to see: at lower prices there's more people willing to buy, at higher prices there's more people willing to sell.
This has dampening effect on price movement: each time the price wants to take a hike in any direction, it's slowed down by this.
This is called **negative feedback**, because a result of the process influences the process itself in such a way that **it reduces changes**.
However in some situations like now there are stronger effects that resemble **positive feedback**. With positive feedback, the results of the process influence the process itself in such a way that the **magnitude of the change increases**.
I can think of a couple of things that might currently be in effect and have a positive feedback on falling price:
- Miners: miners are forced to sell part of the mined coins to cover fiat expenses. A falling price causes them to increase the percentage of coins they have to sell => positive feedback
- Margin calls, forced liquidation: falling price can trigger leveraged longs on exchange to be automatically liquidated, which results in more selling => positive feedback
- Market participant psychology: falling price causes frustration, anger, and fear in at least some market participants, which in turn causes them to sell => positive feedback.
So: the system is out of balance.
Fortunately, all of the above positive feedback effects are dependant on some resource that is reduced and ultimately depleted in the process:
- miners: they cannot sell more than 100%
- liquidations: there's only so many longs
- psychology: the panic-sellers have only a limited amount of coins
So don't worry: the imbalance to the downside is only temporary ;-)
----------------
not sure how naive or accurate, but these are my thoughts on the reasons of the price fall.
August 18, 2014, 02:20:31 PM
Pretty sure this entire thread is just Adam talking to himself with alt accounts. Even I'm not sure I'm real.
No, that's not what I...I mean...uh...Adam...that's not what we're doing at all!
Yes! We're all complete different persons! I can guarantee!
August 18, 2014, 02:19:45 PM
Bubble isn't going to happen... probably never, but it's certainly going to be a long time at least. People cutting their loose now, Much better places to stick your cash for the next 6 months while we wait to see where this goes.
You registered here two days ago. Forgive me if i take every word you write with a pinch of salt. If it isn't going to rise again, why do you want to buy in lower?
You can trust me because I bring forth an outsider's view of bitcoin. For the past year, people here have been brainwashed by the echo chamber, they have no ability to think rationally anymore!
Fairly sure you are a) not an outsider, and b) probably operate more than one similar account on btc. Who are you really?
Pretty sure this entire thread is just Adam talking to himself with alt accounts. Even I'm not sure I'm real.
Brilliant
August 18, 2014, 02:18:23 PM
Bubble isn't going to happen... probably never, but it's certainly going to be a long time at least. People cutting their loose now, Much better places to stick your cash for the next 6 months while we wait to see where this goes.
You registered here two days ago. Forgive me if i take every word you write with a pinch of salt. If it isn't going to rise again, why do you want to buy in lower?
You can trust me because I bring forth an outsider's view of bitcoin. For the past year, people here have been brainwashed by the echo chamber, they have no ability to think rationally anymore!
Fairly sure you are a) not an outsider, and b) probably operate more than one similar account on btc. Who are you really?
Pretty sure this entire thread is just Adam talking to himself with alt accounts. Even I'm not sure I'm real.
Brilliant
August 18, 2014, 02:14:52 PM
Pretty sure this entire thread is just Adam talking to himself with alt accounts. Even I'm not sure I'm real.
No, that's not what I...I mean...uh...Adam...that's not what we're doing at all!
August 18, 2014, 02:13:17 PM
Bubble isn't going to happen... probably never, but it's certainly going to be a long time at least. People cutting their loose now, Much better places to stick your cash for the next 6 months while we wait to see where this goes.
You registered here two days ago. Forgive me if i take every word you write with a pinch of salt. If it isn't going to rise again, why do you want to buy in lower?
You can trust me because I bring forth an outsider's view of bitcoin. For the past year, people here have been brainwashed by the echo chamber, they have no ability to think rationally anymore!
Fairly sure you are a) not an outsider, and b) probably operate more than one similar account on btc. Who are you really?
Pretty sure this entire thread is just Adam talking to himself with alt accounts. Even I'm not sure I'm real.
August 18, 2014, 02:11:03 PM
Bubble isn't going to happen... probably never, but it's certainly going to be a long time at least. People cutting their loose now, Much better places to stick your cash for the next 6 months while we wait to see where this goes.
You registered here two days ago. Forgive me if i take every word you write with a pinch of salt. If it isn't going to rise again, why do you want to buy in lower?
You can trust me because I bring forth an outsider's view of bitcoin. For the past year, people here have been brainwashed by the echo chamber, they have no ability to think rationally anymore!
Fairly sure you are a) not an outsider, and b) probably operate more than one similar account on btc. Who are you really?
August 18, 2014, 02:06:41 PM
We have been on this price level from roughly March 31 until May 19 this year, so what's the deal
Nobody knows. Plenty of stories flying around. Regardless of the causes, we are flirting with key technical resistance points. If we break $440, then things could get interesting... imo of course.
i'm gana do it, i'm gana send some fiat in case we gets that low, anyway i have tons of shopping to do.
August 18, 2014, 02:05:55 PM
Bubble isn't going to happen... probably never, but it's certainly going to be a long time at least. People cutting their loose now, Much better places to stick your cash for the next 6 months while we wait to see where this goes.
You registered here two days ago. Forgive me if i take every word you write with a pinch of salt. If it isn't going to rise again, why do you want to buy in lower?
You can trust me because I bring forth an outsider's view of bitcoin. For the past year, people here have been brainwashed by the echo chamber, they have no ability to think rationally anymore!
August 18, 2014, 02:01:15 PM
We have been on this price level from roughly March 31 until May 19 this year, so what's the deal
Nobody knows. Plenty of stories flying around. Regardless of the causes, we are flirting with key technical resistance points. If we break $440, then things could get interesting... imo of course.
August 18, 2014, 02:01:06 PM
Double bottoms are often deceptive
August 18, 2014, 01:59:33 PM
August 18, 2014, 01:57:51 PM
We have been on this price level from roughly March 31 until May 19 this year, so what's the deal
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