Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 28687. (Read 26709710 times)

This reply deserves an award. GTFO from this thread noble cultists!

Yes, expel the unbeliever!

Because it is my (and many other's) opinion you cannot profit from that

The human mind is amazing in finding patterns even if there is none.

what seems unlikely too me, is one week they say the rumors are false then following week they would say the rumors were true.

really?

why wouldn't they just have said nothing at all on the first rumor, why would they lie?

Why bother?  You have HARDLY invested in bitcoin, and you really do NOT seem very interested.... except to denigrate various strategies.. without really providing insight... 

You know what? I give you that. I think it was Rampion who put it as something like "the hardcore (cultists) provide the base value, the traders/speculators add the volatility/spikes".

So, yes, those of you who are willing to go down with the ship, I pay my respect to you...

But this is the fucking speculation subforum. And, as you would expect by the name of it, speculators are not, by and large, interested in going down with the ship. And that's what pisses me off: not that the "cultists" are sitting this bear market out, but that they're shouting down those who discuss how to profit from the market conditions.

I really hope that that is the very last 500 defense I have to watch..... ever again.

Yeah... we need to hear one way or another... which i am inclined to think that it is NOT true... maybe some restrictions.. but total ban.. seems very unlikely

Regarding 2013 taxes I think there is a strong case that BTC has no record requirements for that year.  In order to satisfy a reporting requirement, you must have records adequate to the requirement.  For an established requirement, as e.g. the 2014 tax year in the U.S., one can prudently collect such records.  For a past year, it is not possible.  If you already filed, new rulings can have no impact, because that would be ex post facto law and hence unconstitutional.  If you have yet to file, then you need only report on a good-faith best-effort basis to satisfy the requirements.  I am not a lawyer.

Ok, I'll leave you guys with your high hopes of moons and trains. I'll have to go and when I'll return, then this username is probably banned already because of the cries of rpietila. But see you all later under a new name.

Bitcoin has many of the characteristics which give gold its reserve utility.  In fact, bitcoin price movements have tended to correlate with gold more so than with other investments.  Certainly bitcoin is much more secure against counterparty failure than are any non-physical claims on gold, and it is precisely security against counterparty failure that gives physical gold it's principal distinction.

Sneering at the facts does not change them.  Nor does it make people who are worth convincing esteem the facts less highly.

I would NOT call affiliates in this group a cult... that's just baloney talk... some people agree with others and some people substantiate what they say..and some people follow easily... there is a mixture herein.. also there is a mixture of bears and bulls and some back up their statements better than others..   Does NOT seem to rise to the level of any cult. in my thinking...   

The "rumor" did apparently make it to CCTV, the main state TV media in China:
http://jingji.cntv.cn/2014/03/28/ARTI1395963853109425.shtml
However I can't quite tell through Google Translate how much weight they give to the report.
 

I'm probably atypical in that my reserve demand is not sensitive to downward price movements. But because of its volatility, bitcoin does tend to select for investors who have asymmetric utility functions.

Explanation

There's a better chance we'll see $460.

I am more or less in agreement with you; however, how do we know that they are waiting exactly.. b/c we cannot see money on the exchanges.. and then how fast can they get their money into BTC, if their money is NOT on the exchanges?

Can we decouple from china yet?

Please let's not compare something that isn't replaceable to something that is replaceable. When people start telling that Bitcoins success is guaranteed by the success of gold, then is the time when serious investors skip because of excessive cult behavior.

SecondMarket's  Bitcoin Investment Trust (BIT) apparently owns now a little less than 100,000 BTC:
https://bitcointalksearch.org/topic/gbtc-bitcoin-investment-trust-observer-337486
They had promised that liquidity would start "no later than march 2014", now changed to "in April 2014".  I take that to mean that some investors would be allowed to redeem their shares at the current nominal share price (the NAV in that table).

Apparently some 20,000-30,000 of the BTC they hold (not counting the "seed" 17,800 BTC) correspond to shares bought by investors between September and early November of 2013, when the BTC price was well below 530 USD, and hence the BIT share price was well below the current 53 USD.  Therefore, some of those investors may want to liquidate now to get their profits.  (There is no open market for their shares yet, although one has been promised for the end of the year.)

Almost all of the other BIT investors bought their shares for much more than 50 USD each, when BTC was in the 600--1000 USD range.  Some of them may be upset about the loss of value and may be impatiently waiting for a chace to get out.

In both cases the BIT would have to sell the corresponding coins to get the cash to pay the investor.   Will that mean several thousand BTC being dumped "soon" into the exchanges?

According to that table, new investments in BIT seem to have occurred at times when the BTC price was rising, even if momentarily.