Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 26701. (Read 26610090 times)

Hi I am merely amused that we are slap bang in the middle of the move from 1-1242 and sticky at a moment of seeming indecision and at a time when the market is consolidating/trading sideways - literally slap bang in the middle of the 1-1242 "move" - and so I thought I would check out the fib levels- which is more why I added them (the 50% fib is not overly important) or did you want me to rant about golden ratio and fibonancci/explain how I got the rest of the numbers? I happen to be rather fond of fibs and the golden ratio so happy to do so.

Edit The other reason it is an amusement is that I do not think using fib retracements retracing this whole move from 1 is that useful per se (perhaphs only if there is a fractalised beautiful sacred geometry occuring within BTC (or is that a sacred geometry within us as natural beings of the universe that is important here?? hmm then again as a creation of humans BTC is essentially human too... which would make it a product of nature... so maybe...  )  and of course in the case others humans and non humans using the same retracement calcs to trade from-  in this case I do not think it is overly useful to describe 1 as the origin of the move up to 1242, as I am not sure it was a "move" at all in the early days... I tend to disregard the first few years when looking at the charts for TA - and start from $5 upwards, and even then....  although with longer term outlooks, starting from 1- 5 - 10 as in terms of BTC , for me it is just to give me a visualisation of the action.

I started out from the 621.5 figure.. and was curious to see if 621 had any "signifigance" as we had been sticking around it , when I played with the numbers I noticed that it was 50% of 1242 which I recalled was the prevoius ath for MT GOx an I thought I wonder what thr erest of the retracement figures show... and so I posted them ohhhhhhhhhhmmmmm and I have taken an housr ago a rarher powerful sleepngpill as I have to
go away and clappse now early flight . ..woo whoo it has really hskicked in and I can not see sriaght or where the keys are on th laptop
yeah a n I cannot tpe so nigt

keep btc safe for evrone ha ha this is hilarious........might try work like this everyday meh g

Explanation

how can you really distinguish what is a pump and dump though? any new altcoin that is being released is probably pre-mined a good deal.

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You make a lot of assumptions, and then you continue to argue those assumptions in spite of contrary facts.    People can weigh the costs, and determine which route saves more money.  Ultimately, BTC is going to be cheaper for transactions as liquidity increases.  Dell creates additional liquidity for BTC transactions and potential snowballing of adoption.

Explanation

while Bitcoin is not moving anywhere, the best way to make profits is to start looking at alts, and I dont mean the pumps and dumps coins.... I started doing this the last couple of days...

One more, about the new "international" Chinese exchanges:

Caleb Chen, Cryptocoins News, 21/07/2014
Chinese Bitcoin Exchanges BTC China And OKCoin Start Accepting USD
http://www.cryptocoinsnews.com/news/chinese-bitcoin-exchanges-btc-china-okcoin-start-accepting-usd/2014/07/21

There is also BitVC, created by Huobi and also based in Hong Kong https://www.bitvc.com/

The BitVC page says "volume: 12296 BTC".  If that is is for the last 24 hours, then, added to ~12 kBTC of "old Huobi" for today gives ~25 kBTC/day -- nos spectacular, but not extremely low either. 

ahah yes, no i was just bantering our academic fellow here. sure i have plenty of time for this, not that i do it that often tho. just a once in a while teasing pike to keep fit and clear head

So option B for bender.

Explanation

Some articles about the state of Chinese bitcoin exchanges, based on the Hong Kong conference last month:

Danny Lee, South China Morning Post, 2014-06-24
Bitcoin exchanges have struggled to survive on mainland
http://www.scmp.com/news/hong-kong/article/1539601/bitcoin-firm-boss-says-ordinary-people-should-not-invest-digital

Euronews, 2014-06-26
Bitcoin struggles in China, but boosters insist it has a bright future
http://www.euronews.com/2014/06/26/bitcoin-struggles-in-china-but-boosters-insist-it-has-a-bright-future/

Conor Brennan, Inline, 2014-06-25
Virtual currency prospers in Asia: Will China follow?
http://inlinepolicy.com/2014/virtual-currency-prospers-in-asia-will-china-follow/
[ Note:  Xu Nuojin is not "General Secretary" of the PBoC, but only Deputy Secretary of the Survey and Statistics Dept of the PBoC. ]

wake me up when we break 640

To be honest, its beginning to be amazing that Bitcoin only has an $8 billion market cap given what is happening and getting ready to happen to legitimize it. And given the disruptive nature of the technology.

Imo, it is greatly under priced at the moment.

I would not have said this 1 year ago.

I was thinking more prudence, privacy,security, shrewdness, speculation - than tax evasion - you slippery so and so you... if I was an investigator at the secretariat of federal revenue in your neck of the woods, never mind the doctors-  I would have a close eye on you  

The Honey Badger is hungover and just decides to hibernate for a couple weeks or months more. But when it awakes it has to eat. And it likes to eat fresh FIAT, that's for sure!

i think its down...

I know powerful is coming but not clear it will upside, that is why I said we are not going to break upside, it's not clear at all.

Hm, what would be those reasons?  For tax evasion?  It would be quite risky, since Bitpay knows how much the vendor received, and even a traditional audit of his books by the IRS could easily reveal the evasion.

By the way, I am aware that this discussion is old and my observations have been made by others before.  However, there still seem to be people who expect the price to rise whenever such news come out, or claiming that the route USD-->BTC-->USD-->Goods saves money compared USD-->Goods.
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If you look back before the previous bubbles the 1W MACD went green for a week or two then flipped back red for at least one week. After that flip, it flopped back to green which initated a bubble. I just like to think of it as final capitulation. It will most likely be the last time I buy until the next bubble, however long that may be.

monkey likes it for at least 12 hours, probably 24.  day tradurz, you know what to do.