Topic: Wall Observer BTC/USD - Bitcoin price movement tracking &amp; discussion - page 27921. (Read 26623553 times)

Quote from: billyjoeallen on April 30, 2014, 12:31:17 AM

Why is this not going below 400 or worse ? Here we are sitting like a rock at 440, which was unthinkable back in january.

Is there any genuine short-term bull case, besides rockets and slogans ?

I'm a tired bear, been at it for 5 months now, and tbh im worn out. I want to close my shorts, but i've gotta play the market. I see no reason to buy before May 10, and/or whatever deadline comes after that.

I'll be needing some Bull rehab after this is done. Sad

The longest bear market was June-November 2011, some 163 days. The current downtrend is 151 days assuming it is still intact and did not bottom out at $339 which would be 132 days. So maybe the trend is as worn out as everyone watching it. Won't be obvious until a decisive breakout is seen which is a return to the $550-$600 area.

Time and depth lengths from trends of the distant past are proving again and again to be a bad way to analyze events in the present or predict events in the future.

agreed. you think this MIT thing is gonna flop as bad as auroracoin?

http://venturebeat.com/2014/04/29/mit-is-about-to-become-the-worlds-first-bitcoin-economy/

it will be interesting, bitcoin transactions are not that easy, and it would be funny if they all just cashed out for beers and eats at the local pub that accepts it (you know there will be at least one)

It's what I would do, back when I was in school Grin

:edit: come to think of it, it's a pretty ballsy experiment. Throw half a million dollars worth of internet money at a bunch of young kids and see what happens.

auroracoin would seem to be a good comparison.

This seems to be quite a comparison given the demographics of Iceland being that nearly 30% of its population is either over 65 or under 18 whereby decreasing the overall acceptance of an air drop. More importantly comparing a coin that was created and pre-mined exclusively for the air-drop, versus a group of engineers crowd-sourcing donations of an established virtual currency for a project that will likely reach a much larger subset of individuals than AUR has or ever will.

The most relevant fact to me is that people are being given crypto with monetary value and they aren't the ones paying for it. Human nature is such that we don't tend to value things we don't work for. This is why most lottery winners blow the money in a relatively short period of time and people who spend years saving money do not.

PoolMinor

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Why is this not going below 400 or worse ? Here we are sitting like a rock at 440, which was unthinkable back in january.

Is there any genuine short-term bull case, besides rockets and slogans ?

I'm a tired bear, been at it for 5 months now, and tbh im worn out. I want to close my shorts, but i've gotta play the market. I see no reason to buy before May 10, and/or whatever deadline comes after that.

I'll be needing some Bull rehab after this is done. Sad

The longest bear market was June-November 2011, some 163 days. The current downtrend is 151 days assuming it is still intact and did not bottom out at $339 which would be 132 days. So maybe the trend is as worn out as everyone watching it. Won't be obvious until a decisive breakout is seen which is a return to the $550-$600 area.

Time and depth lengths from trends of the distant past are proving again and again to be a bad way to analyze events in the present or predict events in the future.

agreed. you think this MIT thing is gonna flop as bad as auroracoin?

http://venturebeat.com/2014/04/29/mit-is-about-to-become-the-worlds-first-bitcoin-economy/

it will be interesting, bitcoin transactions are not that easy, and it would be funny if they all just cashed out for beers and eats at the local pub that accepts it (you know there will be at least one)

It's what I would do, back when I was in school Grin

:edit: come to think of it, it's a pretty ballsy experiment. Throw half a million dollars worth of internet money at a bunch of young kids and see what happens.

auroracoin would seem to be a good comparison.

This seems to be quite a comparison given the demographics of Iceland being that nearly 30% of its population is either over 65 or under 18 whereby decreasing the overall acceptance of an air drop. More importantly comparing a coin that was created and pre-mined exclusively for the air-drop, versus a group of engineers crowd-sourcing donations of an established virtual currency for a project that will likely reach a much larger subset of individuals than AUR has or ever will.

billyjoeallen

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Hide your women

Why is this not going below 400 or worse ? Here we are sitting like a rock at 440, which was unthinkable back in january.

Is there any genuine short-term bull case, besides rockets and slogans ?

I'm a tired bear, been at it for 5 months now, and tbh im worn out. I want to close my shorts, but i've gotta play the market. I see no reason to buy before May 10, and/or whatever deadline comes after that.

I'll be needing some Bull rehab after this is done. Sad

The longest bear market was June-November 2011, some 163 days. The current downtrend is 151 days assuming it is still intact and did not bottom out at $339 which would be 132 days. So maybe the trend is as worn out as everyone watching it. Won't be obvious until a decisive breakout is seen which is a return to the $550-$600 area.

Time and depth lengths from trends of the distant past are proving again and again to be a bad way to analyze events in the present or predict events in the future.

agreed. you think this MIT thing is gonna flop as bad as auroracoin?

http://venturebeat.com/2014/04/29/mit-is-about-to-become-the-worlds-first-bitcoin-economy/

it will be interesting, bitcoin transactions are not that easy, and it would be funny if they all just cashed out for beers and eats at the local pub that accepts it (you know there will be at least one)

It's what I would do, back when I was in school Grin

:edit: come to think of it, it's a pretty ballsy experiment. Throw half a million dollars worth of internet money at a bunch of young kids and see what happens.

auroracoin would seem to be a good comparison.

Mythul

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Countless good news in the last few months, but all we care is the next China rumor......

Sad.

ChartBuddy

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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Explanation

PoolMinor

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Quote from: JorgeStolfi on April 29, 2014, 09:45:13 PM

agreed. you think this MIT thing is gonna flop as bad as auroracoin?

http://venturebeat.com/2014/04/29/mit-is-about-to-become-the-worlds-first-bitcoin-economy/

it will be interesting, bitcoin transactions are not that easy, and it would be funny if they all just cashed out for beers and eats at the local pub that accepts it (you know there will be at least one)

It's what I would do, back when I was in school Grin

:edit: come to think of it, it's a pretty ballsy experiment. Throw half a million dollars worth of internet money at a bunch of young kids and see what happens.

I am sure you are over generalizing most college entrants, whereas the general MIT student should not be classified as a young kid regardless of their actual age. Considering the criteria it takes to be accepted at MIT, I am sure they are more than capable of handling such a minuscule amount of virtual currency.

http://collegeapps.about.com/od/GPA-SAT-ACT-Graphs/ss/mit-admission-gpa-sat-act.htm

cAPSLOCK

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Note the unconventional cAPITALIZATION!

Quote from: cAPSLOCK on April 29, 2014, 09:24:58 PM

Quote from: JorgeStolfi on April 29, 2014, 10:59:59 AM

Isn't it ironic that the libertarian bitcoiners, champions of laissez-faire capitalism, are betting all their life savings on the hope that the Satoshi Bitcoin will be one day the only cryptocurrency in the market, so that they can charge monopoly prices for it? Wink

I see no irony there. I am not sure you understand the core values of libertairianism in light of this comment. Libertarians tend to defend what others call monopolies.

Perhaps I don't.

A monopoly is the opposite of free market by definition, so how can one be in favor of the latter without being against the former?

If libertarians do not object to monopolies, why do they object to government, which has by defintion the monopoly in many fields (army, criminal punishment, money issuance, etc.)?

Now you're getting warmer. Libertarians tend to oppose coercive monopolies. From the party platform:

Quote

2.6 Monopolies and Corporations

We defend the right of individuals to form corporations, cooperatives and other types of companies based on voluntary association. We seek to divest government of all functions that can be provided by non-governmental organizations or private individuals. We oppose government subsidies to business, labor, or any other special interest. Industries should be governed by free markets.

Now. Your comparison of bitcoin holders (even hoarders) to monopolies is another issue. How can you make this comparison? There is no monopoly there yet. In fact, the US Government's holdings will eliminate the possibility of any non government monopolistic BTC group even forming. There is no monopoly now, and it will be hard for there to be in the future.

I think your political bias might be showing a tad. Wink

nioc

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