Explanation
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 27784. (Read 26710737 times)
May 11, 2014, 08:00:51 AM
May 11, 2014, 07:58:30 AM
So are we going to final bottom around $370 next week or not?
Don't bet on that. This could be the last chance to buy < $450.
So this time it is the last last last last chance
Could be.
I think there will be plenty of chances to buy < $450 until July.
May 11, 2014, 07:44:43 AM
That SEC article was warning about people who promote investments as being a gauranteed high return and risk free. Well bitcoin bulls go even one step further than this, to tell you that holding cash itself is risky.
May 11, 2014, 07:36:34 AM
ok so let me guess how this might play out:
1. FXBTC played a Gox (fact)
2. Other exchanges might be operating a fractional reserve too (speculation, https://bitcointalksearch.org/topic/m.6505570) (meh, call me fudster if you want)
3. Chinese traders are worried that other exchanges might pull a Gox too and hence a part of them will aim for the fiat exit door, depressing the price.
4. 1 and 2 add another reason for PBoC to want to "protect the people" and pull the plug on the other exchanges before a large scale Goxxing happens.
5. When/if 4 happens, we will soon discover how much is the impact on price on western exchanges. It might as well be the final test (bit like the "Silk Road bust" test last year) and bring the decoupling that everyone here seems to be expecting.
1. FXBTC played a Gox (fact)
2. Other exchanges might be operating a fractional reserve too (speculation, https://bitcointalksearch.org/topic/m.6505570) (meh, call me fudster if you want)
3. Chinese traders are worried that other exchanges might pull a Gox too and hence a part of them will aim for the fiat exit door, depressing the price.
4. 1 and 2 add another reason for PBoC to want to "protect the people" and pull the plug on the other exchanges before a large scale Goxxing happens.
5. When/if 4 happens, we will soon discover how much is the impact on price on western exchanges. It might as well be the final test (bit like the "Silk Road bust" test last year) and bring the decoupling that everyone here seems to be expecting.
The rational thing to do if you are afraid, is to convert everything to bitcoin and withdraw. Because
a) it is risky to be in fiat these days
b) it is risky to have funds at exchanges these days.
Bonus: If your favorite exchange goes bust, it is more difficult for the thugs to track you.
c) it is risky to hold bitcoins these days
Therefore withdraw your money and diversify your portfolio
May 11, 2014, 07:22:50 AM
ok so let me guess how this might play out:
1. FXBTC played a Gox (fact)
2. Other exchanges might be operating a fractional reserve too (speculation, https://bitcointalksearch.org/topic/m.6505570) (meh, call me fudster if you want)
3. Chinese traders are worried that other exchanges might pull a Gox too and hence a part of them will aim for the fiat exit door, depressing the price.
4. 1 and 2 add another reason for PBoC to want to "protect the people" and pull the plug on the other exchanges before a large scale Goxxing happens.
5. When/if 4 happens, we will soon discover how much is the impact on price on western exchanges. It might as well be the final test (bit like the "Silk Road bust" test last year) and bring the decoupling that everyone here seems to be expecting.
1. FXBTC played a Gox (fact)
2. Other exchanges might be operating a fractional reserve too (speculation, https://bitcointalksearch.org/topic/m.6505570) (meh, call me fudster if you want)
3. Chinese traders are worried that other exchanges might pull a Gox too and hence a part of them will aim for the fiat exit door, depressing the price.
4. 1 and 2 add another reason for PBoC to want to "protect the people" and pull the plug on the other exchanges before a large scale Goxxing happens.
5. When/if 4 happens, we will soon discover how much is the impact on price on western exchanges. It might as well be the final test (bit like the "Silk Road bust" test last year) and bring the decoupling that everyone here seems to be expecting.
The rational thing to do if you are afraid, is to convert everything to bitcoin and withdraw. Because
a) it is risky to be in fiat these days
b) it is risky to have funds at exchanges these days.
Bonus: If your favorite exchange goes bust, it is more difficult for the thugs to track you.
May 11, 2014, 07:08:44 AM
ok so let me guess how this might play out:
1. FXBTC played a Gox (fact)
2. Other exchanges might be operating a fractional reserve too (speculation, https://bitcointalksearch.org/topic/m.6505570) (meh, call me fudster if you want)
3. Chinese traders are worried that other exchanges might pull a Gox too and hence a part of them will aim for the fiat exit door, depressing the price.
4. 1 and 2 add another reason for PBoC to want to "protect the people" and pull the plug on the other exchanges before a large scale Goxxing happens.
5. When/if 4 happens, we will soon discover how much is the impact on price on western exchanges. It might as well be the final test (bit like the "Silk Road bust" test last year) and bring the decoupling that everyone here seems to be expecting.
1. FXBTC played a Gox (fact)
2. Other exchanges might be operating a fractional reserve too (speculation, https://bitcointalksearch.org/topic/m.6505570) (meh, call me fudster if you want)
3. Chinese traders are worried that other exchanges might pull a Gox too and hence a part of them will aim for the fiat exit door, depressing the price.
4. 1 and 2 add another reason for PBoC to want to "protect the people" and pull the plug on the other exchanges before a large scale Goxxing happens.
5. When/if 4 happens, we will soon discover how much is the impact on price on western exchanges. It might as well be the final test (bit like the "Silk Road bust" test last year) and bring the decoupling that everyone here seems to be expecting.
Maybe if they're running fractional reserve there's even less coins in Chinese hands lol. Now that would be funny. I'd call this a pretty positive weekend absent any new news in the next hour or so. Even at this point a $27 price rise and no super fud from China is a good thing.
May 11, 2014, 07:02:25 AM
So are we going to final bottom around $370 next week or not?
Why 370?
Because too many people will have their eyes on 340-350 and place bids in that area.. Sort of like people were expecting 380 on the Feb Gox collapse only for it to stop at 400.
But now , with that lesson learn , wouldn't they start buying 10-20 above the step they believe everyone would start buying ?
If we follow this logic we might start buying at 2000$/btc
)) May 11, 2014, 07:00:52 AM
May 11, 2014, 06:58:21 AM
So are we going to final bottom around $370 next week or not?
Don't bet on that. This could be the last chance to buy < $450.
So this time it is the last last last last chance
Could be.
heheh sidemoney is getting nervous because of not seeing that "last drop"...
global panic buy soon? to teh moon?
May 11, 2014, 06:08:47 AM
So are we going to final bottom around $370 next week or not?
Don't bet on that. This could be the last chance to buy < $450.
So this time it is the last last last last chance
Could be.
May 11, 2014, 06:06:52 AM
So are we going to final bottom around $370 next week or not?
Don't bet on that. This could be the last chance to buy < $450.
"Oh yes, yes!! I want cheap coins".
Wait. Been there, done that. Shitloads of times. People who hope it's going to be <$380/400/420/440... make up your mind. Play the game, or go in shame.
Its going up. Or staying at this price.
May 11, 2014, 06:03:55 AM
So are we going to final bottom around $370 next week or not?
Don't bet on that. This could be the last chance to buy < $450.
"Oh yes, yes!! I want cheap coins".
Wait. Been there, done that. Shitloads of times. People who hope it's going to be <$380/400/420/440... make up your mind. Play the game, or go in shame.
May 11, 2014, 06:02:26 AM
So are we going to final bottom around $370 next week or not?
Why 370?
Because too many people will have their eyes on 340-350 and place bids in that area.. Sort of like people were expecting 380 on the Feb Gox collapse only for it to stop at 400.
May 11, 2014, 06:00:54 AM
May 11, 2014, 05:58:08 AM
So are we going to final bottom around $370 next week or not?
Why 370?
May 11, 2014, 05:40:17 AM
The sentiment is very bad on Bitcoin but the same people that tell you they think it is going down are keeping ton of cash on the exchanges; that makes me very bullish
How do you know about cash on exchanges?
Secret powers. He clearly knows the owners of exchanges personally and has access to privileged information.
It is important to say it here because the whole market is heavily influenced by what we say on the wall observer thread.
May 11, 2014, 05:39:59 AM
So are we going to final bottom around $370 next week or not?
Don't bet on that. This could be the last chance to buy < $450.
May 11, 2014, 05:33:09 AM
The sentiment is very bad on Bitcoin but the same people that tell you they think it is going down are keeping ton of cash on the exchanges; that makes me very bullish
How do you know about cash on exchanges?
May 11, 2014, 05:26:57 AM
Bumpin up against that $460,-.
Once we break it, we can post train and moon pics.
Once we break it, we can post train and moon pics.
I can feel all the fiat on the exchanges waiting to buy, it may arrive when we don't except it anymore
Bitstamp is like... 'lol what should we do about all this fiat? I guess post some vague tweets about bitcoin going to the moon'
Yes, I'm not on Bitstamp but on Kraken, but I can see my few fiat waiting on the ground !
The sentiment is very bad on Bitcoin but the same people that tell you they think it is going down are keeping ton of cash on the exchanges; that makes me very bullish
Only sentiment that I notice as bad.. is the clarity on how to operate a Crypto Currency exchange in China...besides that I don't notice to many negative things.
May 11, 2014, 05:25:14 AM
Bumpin up against that $460,-.
Once we break it, we can post train and moon pics.
Once we break it, we can post train and moon pics.
I can feel all the fiat on the exchanges waiting to buy, it may arrive when we don't except it anymore
Bitstamp is like... 'lol what should we do about all this fiat? I guess post some vague tweets about bitcoin going to the moon'
Yes, I'm not on Bitstamp but on Kraken, but I can see my few fiat waiting on the ground !
The sentiment is very bad on Bitcoin but the same people that tell you they think it is going down are keeping ton of cash on the exchanges; that makes me very bullish
Jump to: