Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 28168. (Read 26710696 times)

I made so many bad decisions today it's not even funny. I can't fucking believe that I managed to lose some money on this drop to 340 and rise up instead of making a killing.

*bink*

BTCChina is going to stay anyway...

I could see myself eating my words when Huobi gets shut down tomorrow...

Next news... PBOC warns about enforcement actions and police if banks do not comply with the notice.

But the best thing I can do is follow the charts. I don't have a crystal ball.

At this is point that is only possible if a number of exchanges are shut down and this occurs before new exchanges open up.  With the right event occuring, it could cause a spike down the chart so hard that the longer indicators do NOT cross up. At that point I would no longer be bull. I cannot count on this happening though, especially with NY framework in place by July.  

You should know that I am more of a reactive trader than a predictive trader. I make talk about predictions in here in order to socialize but I when I am actually trading, I am mostly reacting to the latest events and what is actually happening on the charts.  Everythign I do is according to formulas involving all charting timeframes and minizing risk by acting in phases. A key to being successful is being able to adapt to changes and those who are stubborn about their positions and their attitudes get punished.

Agree, 3d MACD is about to cross and that alone would push this a lot.

Not sure how long that will last, I don't see that anything changed in last few days that would be worth of trend reversal but Chinese played this perfectly and got me off the guard.

I am more in awe of the current financial system, where people are supposedly fighting to be integrated to a block, which a) immediately takes your gold reserves and transports them away, never to be seen; b) replaces your non-debt based currency with a debt-based, so that every time you want to obtain medium of exchange or store value, somebody, somewhere has to go deeper in debt; c) typically the one that goes into debt, though, is you; d) the interest of this (fabricated and imaginary) debt is paid to private bankers and does not benefit you; e) you are not in Mundell optimum with this currency and your economy is destroyed by this, among other things.

The adoption is quite easy, anyone can buy bitcoins and trade with them. The state also accumulates. Prices are quoted in an independent banana currency that depreciates against bitcoin. When nobody wants the banana currency any more, its value has gone to zero and it is scrapped, everybody uses bitcoin. Simple things are good.


Yes, I don't subscribe at all to the Keynesian theory that countries should be financially managed differently than households or companies.

I have a household, and we are now quite rich because of Bitcoin. I also have a company, which has grown a lot richer because of Bitcoin (the downside is that the company now employs about 10 people, but the cashflow is zero because everybody is so rich and does not need to work). If there is a country, you say that magically it would not be better off??!

No. There is no transition point where black becomes white. What is good for a small company, is good for a large, and for a small country, and a large country. They just have the fallacy that they need to invest a lot to make it worthwhile for them. Why? I was never net invested even a million USD, and now you say that I am so rich that countries adopting Bitcoin would just benefit me, and that this is a reason why they should not invest! Oh, the irony - entire countries sentencing their population to poverty because of envy towards rpietila! They could go and buy 10k bitcoins for any leftover money in their budget and live happily ever after, which is what I am doing. Number of bitcoins is important, not the amount of fiat you paid. Fiat is just a con.

Not that I cared. No country is currently buying bitcoins openly, and bitcoin is doing just fine. When they realize that envying me is not a reason enough to destroy the future of their population, then they buy. Or at least the people there.


If the policy was actually governed by that, gold would still be your currency. At that time the prices were quite stable. Even after taking the reckless fiat course in 1971, the charts show that priced IN gold, oil has been trading in a tight channel, only occasionally visited below 10 or above 20. This one also shows what a joke fiat's supposed stability is. For more than 100 years(!) in gold dollar, oil price has been trading in channel of 0.50-2 dollars per barrel. After 1971 and "managed dollar", the price periodically readjusts 10 times higher than before, and even the period between readjustments is not stable (since 2000, price range 20-150).


That you cannot develop remedies to this, does not mean that they don't exist. I (for one) am well capable to think about those matters and implement them, but we are in general still in the kindergarten stage, where people debate over whether it is a good deal to buy BTC1,000 with $10,000,000. Hint: with those figures, the next year solves the question effortlessly, 100M I'm not sure.

I agree that this is very annoying.


To repeat:
- I know guys who don't use fiat at all, many of them are quite rich because it's bitcoin they use
- Personally I use fiat and have it in balance sheets of my company but it is because my business is currency exchange between fiat/btc/gold/silver, where fiat is an input to the production process (plus a responsible hedge against bitcoin failure)
- Value transmit and value storing are different functions for a currency. This enables people who don't care for bitcoin's price, to use it as a remittance mechanism (and hasten its development), and people, who don't care to transact with it before it's mature, to use it as a store of value (and hasten its maturity).

I believe we've just hit the top.

There was a lot of struggle in that pump

So when are we hitting 250 again?

I can see a retrace to $470 and that will be the last gasp saloon for desperate bears to save their skins

It's horsish, and that's really good news.

I'm still waiting for $590. Unless we break $540-550 on volume and keep going, there may still be time for a pullback.
But I'm becoming more and more bullish. Fingers crossed etc.

Disclosure: I bought some at $517.

That might be an unexpectedly short break.  Time will tell.

but they are riding horses... is that bullish?

540/3362

ETA 3390

It is with regret that I announce I have gone bull, and have bought back most my coins in phases over the past 3 days. Once the 3D cross happens (which seems inevitable), I am offlining them, and taking a break from trading during the midpoint-consolidations.

Explanation

exact same trendline. last line of defence, like a knife through butter. we have lift off!

Choo choo madarfuka!! 

We're free to be you and me.
https://www.youtube.com/watch?v=_26FOHoaC78