Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 28538. (Read 26708814 times)

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

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

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

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.

That is a fallacy. Market have irrational traits, but a counter argument to a legit edge is not "but the markets are irrational"

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.

I think 180-280$ would be a fair price as intrinsic value whilst considering the actual state of Bitcoin's economy. all above would be pure speculation of near term progress - but speculating for progress is a winning strategy anyway

absolutely agree

2600 Huobi

I think it depends on who their bank is. I think they are stalling as long as they can to give themselves more time to make decisions about how and where to operate their businesses going forward. For instance, OkCoin is moving offshore.

Why?

Markets can remain irrational.

Let us break the trend line so the weak can sell and we can move on up.

The sooner the better.

I just found translated versions of all the exchange announcements on Reddit - interesting that some are still taking CNY deposits through bank accounts:

http://www.reddit.com/r/BitcoinMarkets/comments/220qob/fxbtc_small_chinese_exchange_shuts_down_cny/

looks so

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!

What is different about the recent peak is that, unlike 2011 and April 2013, there was not an exhaustion spike, but a gentle rolling over for the trend down. So yes, the same might happen in reverse at the low.

Personally, at the moment, I see this as an over-played problem of the poor getting poorer... b/c anyone can generate some savings into BTC.. and if they can hold onto their savings.. then there is decent potential for BTC holding the value... at this moment, we cannot be sure about BTC's value in 20 years... for example putting $5000 into a kids college fund... and then waiting to see what the value is in 20 years.

it doesnt have much choice. we need to get a move on and break this trend line or spike up.

this area of support cannot be tolerated for long.

ok

+1, it's just that childs like fonzie and pumpkin spam the board everytime bitcoin goes down a few %. They probably don't have a girl or friends to spend their time with.

huh, 400$ with just 6000 coins wall now.