Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 28537.

lynn_402

sr. member

Activity: 462

Merit: 253

Quote from: JayJuanGee on April 02, 2014, 05:56:55 PM

I agree with you about the need to establish prices outside of exchanges - or at least in some kind of manner that is more difficult to manipulate..... .... and that way the BTC price would reflect overall demand and adoption better... This may improve with large adoption and larger market cap.. lets say if the market cap was 1 trillion or more... but we even know that gold prices are manipulated. and that gold is 7 trillion market cap.

The prices on localbitcoins always seem more real to me. Right now it is between 500 and 600$

adamstgBit

legendary

Activity: 1904

Merit: 1037

Trusted Bitcoiner

Quote from: TERA on April 02, 2014, 05:56:28 PM

Can you guys stop feeling entitled to a rally every 9 months and accept for once that bitcoin is in a downtrend and stop calling everything FUD? It's getting old and doesn't help anything.

such FUD

av123

member

Activity: 98

Merit: 10

Quote from: inca on April 02, 2014, 05:52:18 PM

Quote from: Mervyn_Pumpkinhead on April 02, 2014, 05:31:38 PM

Quote from: nakaone on April 02, 2014, 05:03:05 PM

Quote from: silverfuture on April 02, 2014, 04:53:17 PM

Quote from: Mervyn_Pumpkinhead on April 02, 2014, 08:17:45 AM

You will see the end of this bear market by these following indicators.

1) The price will go lower then most expected
2) The price will remain low longer then most expected
3) The loudest and the most enthusiastic bulls will start to blame bitcoin and everyone involved for the situation and then write dramatic final speeches of them leaving.

If you will get tired of seeing indicator 3, then it's time to buy, not before.

#3 spotted in the wild!

https://bitcointalk.org/index.php?topic=554625.0;topicseen

btw why don't you expect a fast rebound? - if I observe this place properly all guys are playing "who gets the most bitcoins" - and they are wondering where the bottom is - probably not for selling at the bottom....

The market needs some rest to build momentum, and all of this isn't an act to drive the price down to buy back cheaper. This act is about dumping coins and creating illusions to keep the buy support up.
There are plenty of experienced investors who want out with certainty and they are just spreading out their sales to get better profits. These are mostly the investors that came in during the last November rally. They have no emotional attachment to bitcoin, that would make them stay. They are just doing what their schools taught them, to cut their losses in the best way possible, and to move forward with other investments. The loss of the markets in China and loss of the public trust isn't nothing to them. To them, bitcoin failed in the attempt to pass the threshold from illegal to legal finance. When these guys will finish dumping, then the price will be low, but it will be stable.

Lots of newbie accounts sounding very knowledgeable always come into existence during price weakness, then disappear.

Trolls and/or bagholders.

adamstgBit

legendary

Activity: 1904

Merit: 1037

Trusted Bitcoiner

Quote from: klopper on April 02, 2014, 05:55:43 PM

BUY? SELL? BUY? SELL? BUY? SELL? BUY? SELL? BUY? SELL? BUY? SELL?

JayJuanGee

legendary

Activity: 3948

Merit: 11416

Self-Custody is a right. Say no to"Non-custodial"

Quote from: ?? on ??

Quote from: JayJuanGee on April 02, 2014, 05:28:47 PM

...
I don't mean to be argumentative, but I am having trouble understanding the point exactly... ... I mean compared with the current system in which the bankers get free money.... ...

Does it really matter if there is a small number of people with BTC who are distributing BTC to others who want it... b/c once a person has bitcoin or earns bitcoin or saves bitcoin, then the question will be if the person can allocate a percentage of that for savings and then whether that BTC that is saved is going to hold its value. I believe a lot has to happen between now and such a future, but I continue to believe that the less important question regards the early adopters as compared with the ability to save and then to have a savings appreciate.

Yes, whether it can function as a safe store of value is the main issue for it to function as a monetary system. I think the main point there is what can it buy, that's what gives fiat currencies a real world value and if bitcoin ever reaches the point where it can be traded for oil then its made it, ie. the petrodollar (or other energy and commodities, hopefully renewable first and foremost).

I do see distribution as a problem though, an awful lot of trading seems to be intent on holding the price down while increasing holdings and the more coins someone has the more power they have in that situation. I don't think that situation can improve while we use conventional exchanges but eventually the exchanges should empty to the point where they're no longer able to hold a stable value and the price will need to be decided by other means (no idea what).

I agree with you about the need to establish prices outside of exchanges - or at least in some kind of manner that is more difficult to manipulate..... .... and that way the BTC price would reflect overall demand and adoption better... This may improve with large adoption and larger market cap.. lets say if the market cap was 1 trillion or more... but we even know that gold prices are manipulated. and that gold is 7 trillion market cap.

TERA

hero member

Activity: 728

Merit: 500

Can you guys stop feeling entitled to a rally every 9 months and accept for once that bitcoin is in a downtrend and stop calling everything FUD? It's getting old and doesn't help anything.

klopper

hero member

Activity: 616

Merit: 500

BUY? SELL? BUY? SELL? BUY? SELL? BUY? SELL? BUY? SELL? BUY? SELL?

inca

legendary

Activity: 1176

Merit: 1000

Quote from: Mervyn_Pumpkinhead on April 02, 2014, 05:31:38 PM

Quote from: nakaone on April 02, 2014, 05:03:05 PM

Quote from: silverfuture on April 02, 2014, 04:53:17 PM

Quote from: Mervyn_Pumpkinhead on April 02, 2014, 08:17:45 AM

You will see the end of this bear market by these following indicators.

1) The price will go lower then most expected
2) The price will remain low longer then most expected
3) The loudest and the most enthusiastic bulls will start to blame bitcoin and everyone involved for the situation and then write dramatic final speeches of them leaving.

If you will get tired of seeing indicator 3, then it's time to buy, not before.

#3 spotted in the wild!

https://bitcointalk.org/index.php?topic=554625.0;topicseen

btw why don't you expect a fast rebound? - if I observe this place properly all guys are playing "who gets the most bitcoins" - and they are wondering where the bottom is - probably not for selling at the bottom....

The market needs some rest to build momentum, and all of this isn't an act to drive the price down to buy back cheaper. This act is about dumping coins and creating illusions to keep the buy support up.
There are plenty of experienced investors who want out with certainty and they are just spreading out their sales to get better profits. These are mostly the investors that came in during the last November rally. They have no emotional attachment to bitcoin, that would make them stay. They are just doing what their schools taught them, to cut their losses in the best way possible, and to move forward with other investments. The loss of the markets in China and loss of the public trust isn't nothing to them. To them, bitcoin failed in the attempt to pass the threshold from illegal to legal finance. When these guys will finish dumping, then the price will be low, but it will be stable.

Lots of newbie accounts sounding very knowledgeable always come into existence during price weakness, then disappear.

seleme

legendary

Activity: 2772

Merit: 1028

Duelbits.com

Quote from: ?? on ??

Oooh, more dumping. Btce's the obvious target with its low volume, wonder if it will disconnect from stamp and bitfinex or if they'll be fooled into following it down Wink

It started on Huobi.

Mervyn_Pumpkinhead

legendary

Activity: 876

Merit: 1000

Quote from: Walsoraj on April 02, 2014, 05:45:46 PM

How do we know what's going on isn't part of an ongoing April fool's joke by all the major ticker sites that involves inverting chart data?

What if bitcoin was started as an April fool's joke back in 2009, and then it got really out of hand?

seleme

legendary

Activity: 2772

Merit: 1028

Duelbits.com

Quote from: Walsoraj on April 02, 2014, 05:45:46 PM

How do we know what's going on isn't part of an ongoing April fool's joke by all the major ticker sites that involves inverting chart data?

Walsoraj

hero member

Activity: 686

Merit: 500

Ultranode

How do we know what's going on isn't part of an ongoing April fool's joke by all the major ticker sites that involves inverting chart data?

JorgeStolfi

hero member

Activity: 910

Merit: 1003

Quote from: aminorex on April 02, 2014, 05:18:52 PM

Except you have to check all the factual claims. Lots of erroneous stuff there.
But he does us all a service by teaching us a lesson in fact checking.
Lesson...delivered!

Well, thanks, I guess...

Corrections are welcome, I am trying to keep this post updated: https://bitcointalksearch.org/topic/m.6039395

Zule

member

Activity: 84

Merit: 10

Fuck the lines drawing, we are beyond that...
Its the oh noes and fud that counts now

camolist

hero member

Activity: 896

Merit: 1000

keep dropping. ready to trade this case of silver back in for btc at the rate things are going Tongue

Cheeseonastick

newbie

Activity: 45

Merit: 0

https://i.imgur.com/TaFT0rQ.jpg

Looks to me like we're right on schedule.

seleme

legendary

Activity: 2772

Merit: 1028

Duelbits.com

new lows on huobi

Adrian-x

legendary

Activity: 1372

Merit: 1000

Quote from: aminorex on April 02, 2014, 05:18:52 PM

Quote from: ?? on ??

Quote from: chilin_dude on April 02, 2014, 05:07:58 PM

What was the actual china news that came out today to drop the price please? Scan read last 10 pages and couldnt see it, nor on reddit front btc page. Thanks.

JorgeStolfi is keeping track of it and posting info without bias, worth checking his posts:
https://bitcointalksearch.org/user/jorgestolfi-183158

Except you have to check all the factual claims. Lots of erroneous stuff there.
But he does us all a service by teaching us a lesson in fact checking.
Lesson...delivered!

like Proudhon only more cunning and understated.

BBmodBB

full member

Activity: 154

Merit: 100

BTC = FREEDOM IS OUR ONLY HOPE!

Quote from: boumalo on April 02, 2014, 05:33:27 PM

Quote from: roslinpl on April 02, 2014, 04:58:54 PM

Price is not bad at all

when you want to buy ;P

Worst if you want to sell Tongue

Most traders think that we didn't see the bottom yet; 436$ atm

A lot of traders think we will have a huge bull market before the end of the year after we saw the bottom of the market

$250 is next support and expect some real crazys to pop out of the woodwork then! LOLOLLL =) weeeee

mmitech

legendary

Activity: 1148

Merit: 1001

things you own end up owning you

a post few pages back reminded me of a question, so what are some of the wrong reasons to get into Bitcoin ?

because I saw many people trashing members who want to make profit, I am not here to see my investment going to 0 and I am 90% (10% experimenting) into Bitcoin to see my investment go up.... the difference is as a speculator, I additionally do work around Bitcoin and search ways to improve it, I even quit my job to find out what best I can do to help the infrastructure and by that, I Indirectly give a bump to my investment (and yours).

Profiting is the Biggest factor that will help boost adoption, now greed is something to worry about, some members has to stop being fanatics, use common sense and work smart (not hard but smart) and you will succeed in everything you do.

another reminder, think about this, for Bitcoin to succeed, the Price has to go really high, think of a 1 million dollars, otherwise, simply the payment network wouldn't work when it is widely used, let me explain:

imagine that Bitcoin went mainstream, and lets imagine that there is only 20 user around the world who wants to make a transaction of an average of $100K (ignore all other transactions and hoarded coins), now if Bitcoin is worth $10 how hard the transaction of $2M will it be ? let me tell you, really hard...they would need 200K BTC and we are talking about only 20 users, now if we compare that to VISA or Master card networks that make thousands of transactions a second, Bitcoin would fail as a payment network and wouldn't be able to compete with them.

dont worry, Visa and Master card are purely payment processors, and Bitcoin is more than that, "currency" (not yet legally defined yet) is only one application of the network, so a Bitcoin holder have more options than VISA card holder (yay like no one knew), what does that mean? so more users means Bitcoin's price have to go up (more profit), and this is by design. unlike VISA when more users means more money for the Company and less for the users...

it sounded like a ponzi scheme ? or a pyramid ? well nope, because no one is promising anyone anything, and because anyone comes in today will profit and all comers will profit, it just have to keep going to the point where is no last one ( you know what that means)...

I know this is off-topic, but just something worth mentioning, when the price is going down and you fell weak think about what I wrote.....I think I will write a longer detailed post in my blog about this

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 28537. (Read 26708805 times)