Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 27015. (Read 26634088 times)

Religion, not even once

*tip*

He appears to be correct according to the dogma of his religion. However, it should be noted that adherents tie logic in knots in order to allow loans to have an interest-like attachment without actually calling it interest. Humans do tend to rationalize.

By the way, if you did NOT catch this,  mmitech is supposedly religiously opposed to earning interest on his money (nothing against religions), except for some reason he believes it is o.k. and not against his religion to invest in btc, ltc and seemingly in other cryptos, if they were to strike his peculiar fancy.

I was being sarcastic. Just pointing out that no amount of good news will increase the price while a fart can cause a mass sell off.

I was being sarcastic. Just pointing out that no amount of good news will increase the price while a fart can cause a mass sell off.

Of course they do.

Should the price go to (1)800$ immediately. Would you consider this as an appropriate reaction?

http://www.bbc.com/news/world-europe-jersey-27921445

...and no-one cares.

His point was, no one is buying up bitcoins like crazy because of this rumor.  Hell, no one is buying up bitcoins like crazy over any good news right now, and they haven't been for months.  So no, he's not delusional.

ShroomsKit is delusional

Of course they do.

Of course they do.

No one cares.

Notice that no one has even tried to give answers to your direct questions, except "blah blah blah thinly traded market blah blah blah market forces blah blah blah waiting on auction results blah blah blah."  It's because no one really has a fkn clue what is going on, and they just need some event horizon to point to and say definitively "That there is the reason that this market is confused!  I'm right, and everyone else is wrong!"

Here's a more plausible explanation of the past several weeks:

This silly immature Bitcoin market is still 80-90% dominated by pimply-faced teenagers and know-it-all nerdy 20-somethings, and all the teenagers/20-somethings went on summer break and forgot all about bitcoin.  They stopped buying bitcoins, and only really care about buying more bitcoins when bitcoin is going up. If it's not going up or rallying, they really don't care to have their money locked up in anything.  They also sold their bitcoins because a) bitcoin price is not doing anything right now, b) they can't day trade not enough volatility, and c) because they need their $100 for summer vacation to go party with.  So the few whales left in the summer market are taking full advantage of the lack of buyers, and selling the market down lower.  These whales will use any FUD they can drum up (including this stupid SR auction, the latest stupid FUD) to drive the price lower, and without the teenagers/20-somethings buying more coins during the summer months, the price will fall lower.  Nothing will change until fall, when the teenagers/20-somethings come back from summer break and start buying bitcoins again.

Now do I really believe everything I just wrote?  Maybe. Not totally.
But it just as plausible an explanation as any of the other 1000 made up explanations for the market confusion presented on this sub forum?  Without a doubt, yes.

And that there is the whole point: no one has a clue, and everyone is just talking out of their ass.