Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 31009.

kurious

legendary

Activity: 2604

Merit: 1748

Did litecoin turn first there?? Had the chart on by mistake and I'd swear it turned first, litecoin's driving the price!

I did hear something about turning BTC into LTC in China - but it was in the troll box of BTC-e

We shall see - maybe Bitcoin getting a kicking they all thought 'They didn't mention LTC....'

That would hilarious, and ironic.

adamstgBit

legendary

Activity: 1904

Merit: 1037

Trusted Bitcoiner

so no update on that china news.

i can't wait for an update, as i understand it, its not clear if deposits to BTCChain are really going to be stopped.

alexeft

legendary

Activity: 854

Merit: 1000

Quote from: Davyd05 on December 16, 2013, 05:41:39 PM

Quote from: alexeft on December 16, 2013, 05:35:35 PM

Quote from: Sitarow on December 16, 2013, 05:33:01 PM

IF the bail in for the eurozone works like that of Cyprus, then you may end up "using" your stash rather than exchanging it for worthless euro's

I don't doubt it, Germany is pretty much slowing the process down cause why would they want to bail in the others Cheesy

You don't understand. A "bail-in" is when depositor money is confiscated to save the bank. It's the scenario Germany wants!

kurious

legendary

Activity: 2604

Merit: 1748

Quote from: Dragonkiller on December 16, 2013, 05:36:59 PM

predictions for when china wakes up?

Maybe they are starting to now - let's see if 4000 holds?

simonk83

hero member

Activity: 798

Merit: 1000

Quote from: freet0pian on December 16, 2013, 05:37:46 PM

Quote from: simonk83 on December 16, 2013, 05:28:02 PM

Quote from: octaft on December 16, 2013, 04:52:13 PM

Why do you guys so vehemently commit to buy and hold, only to blow it when it's at the very bottom and sell?

Not all of us do that Wink

When I say I'm holding, I'm holding. I'm not dumb enough (nor good enough) to attempt to sell at the top and buy at the bottom, it's a fools game.

No it's a fool's game to think it's a fool's game. Myself and many others continue to increase our BTC holdings with your "fool's game".

Good for you for pulling it off, you've been lucky. Hopefully you stay lucky.

macsga

legendary

Activity: 1484

Merit: 1002

Strange, yet attractive.

Goodnight everyone...

Davyd05

hero member

Activity: 574

Merit: 500

Quote from: alexeft on December 16, 2013, 05:35:35 PM

Quote from: Sitarow on December 16, 2013, 05:33:01 PM

IF the bail in for the eurozone works like that of Cyprus, then you may end up "using" your stash rather than exchanging it for worthless euro's

I don't doubt it, Germany is pretty much slowing the process down cause why would they want to bail in the others Cheesy

Davyd05

hero member

Activity: 574

Merit: 500

Quote from: jojo69 on December 16, 2013, 05:33:19 PM

next leg down starts now

would appear so..not on the 4hr gox chart yet tho Cheesy

jojo69

legendary

Activity: 3388

Merit: 4775

diamond-handed zealot

Quote from: Mad Scientist on December 16, 2013, 05:38:30 PM

Quote from: jojo69 on December 16, 2013, 05:33:19 PM

next leg down starts now

Where do you think it bottoms out at?

545 Gox 26 hours

windjc

legendary

Activity: 2156

Merit: 1070

Ok, wow - this has been a most unusually unclear news day.

However, from everything I can gather, it looks like the market is pricing in the fact that 3rd party payment processors will no longer be allowed in China, but Chinese banks can still be used to send money to and from exchanges.

Neither of these have been officially confirmed. Obviously, if the latter turns out to not be true, the market probably is going down some more in a heavy way.

However, Chinese exchanges are not done, as there is tons of wealth in Hong Kong and Macau and surrounding areas and savvy Chinese will still be able to invest in BTC.

However, either way this is going to cut some investment capital out of the bitcoin. No other way around that fact.

Personally, I don't think BTC needs 1 red (pun intended) cent from China long term. Short term it helped prop the price, BUT not as much as many thought.

We are in a down cycle now at least short to mid term, but that only now confirms what the charts were leaning towards for the last few weeks.

There will be cheaper bitcoins. And there will be another parabolic rise that makes this rise look like this rise made April look like.

Mad Scientist

full member

Activity: 223

Merit: 100

Quote from: jojo69 on December 16, 2013, 05:33:19 PM

next leg down starts now

Where do you think it bottoms out at?

kurious

legendary

Activity: 2604

Merit: 1748

Here comes round 2 - glad I am have play money in fiat Wink

freet0pian

full member

Activity: 156

Merit: 100

Quote from: simonk83 on December 16, 2013, 05:28:02 PM

Quote from: octaft on December 16, 2013, 04:52:13 PM

Why do you guys so vehemently commit to buy and hold, only to blow it when it's at the very bottom and sell?

Not all of us do that Wink

When I say I'm holding, I'm holding. I'm not dumb enough (nor good enough) to attempt to sell at the top and buy at the bottom, it's a fools game.

No it's a fool's game to think it's a fool's game. Myself and many others continue to increase our BTC holdings with your "fool's game".

bigasic

hero member

Activity: 924

Merit: 1000

I play with about 20-25 percent of my coin, back when the btc was in the 10 dollar range, i seemed to do quite well, now, for some reason (after the coin hit 130), every time I sell or buy, i lose. glad I only play with a small percentage. After today,( unless things change) Im done with trying to figure it out.. I think the best strategy for me is hold until I need the money to pay bills or something. It sucks to lose money, be it on paper or real... Im giving my significant other the keys to my storage, she seems to call it right every time. We are in it for the long haul anyways, we will care more what the btc is in 10 years or so, so dont ask me why I try to play this stupid game, lol....

Whats funny is that my wife couldn't send a bitcoin, she doesn't know how wallets, etc work yet had I listened to her every time, we would have much more.... Note to self, listen to my wife more..

Buy and hold seems like the best strategy, but when it starts to crash and read these damn boards, I do the damndest things...

Dragonkiller

sr. member

Activity: 378

Merit: 250

Super Smash Bros. Ultimate Available Now!

predictions for when china wakes up?

simonk83

hero member

Activity: 798

Merit: 1000

Quote from: octaft on December 16, 2013, 05:33:23 PM

Quote from: simonk83 on December 16, 2013, 05:28:02 PM

Quote from: octaft on December 16, 2013, 04:52:13 PM

Why do you guys so vehemently commit to buy and hold, only to blow it when it's at the very bottom and sell?

Not all of us do that Wink

When I say I'm holding, I'm holding. I'm not dumb enough (nor good enough) to attempt to sell at the top and buy at the bottom, it's a fools game.

Then you have balls of steel or enough money to not panic. The idea is you want to stick to buy and hold, so put yourself in a position where you won't feel the need to abandon your plan because you need to pay your bills or whatever. If you can buy and hold without panic even without having taken that profit first, and that's what you want to do, then my advice would not apply to you. Wink

Well it's mostly just because I've been around Bitcoin a long time, and I've been through this several times already. After the second "crash" I find it just doesn't worry me as much anymore. I have faith in the protocol long term, so the odd day/week/month of the price dropping or languishing doesn't really faze me.

Plus, I have a solid job and I'm not particularly in dire need of cash, so yeah that helps Cheesy

alexeft

legendary

Activity: 854

Merit: 1000

Quote from: Sitarow on December 16, 2013, 05:33:01 PM

IF the bail in for the eurozone works like that of Cyprus, then you may end up "using" your stash rather than exchanging it for worthless euro's

octaft

sr. member

Activity: 476

Merit: 250

Quote from: simonk83 on December 16, 2013, 05:28:02 PM

Quote from: octaft on December 16, 2013, 04:52:13 PM

Why do you guys so vehemently commit to buy and hold, only to blow it when it's at the very bottom and sell?

Not all of us do that Wink

When I say I'm holding, I'm holding. I'm not dumb enough (nor good enough) to attempt to sell at the top and buy at the bottom, it's a fools game.

Then you have balls of steel or enough money to not panic. The idea is you want to stick to buy and hold, so put yourself in a position where you won't feel the need to abandon your plan because you need to pay your bills or whatever. If you can buy and hold without panic even without having taken that profit first, and that's what you want to do, then my advice would not apply to you. Wink

jojo69

legendary

Activity: 3388

Merit: 4775

diamond-handed zealot

next leg down starts now

Sitarow

legendary

Activity: 1792

Merit: 1047

Quote from: Davyd05 on December 16, 2013, 05:29:40 PM

Quote from: oda.krell on December 16, 2013, 05:22:04 PM

Quote from: ?? on ??

Quote from: oda.krell on December 16, 2013, 03:42:49 PM

Quote from: Davyd05 on December 16, 2013, 03:39:44 PM

[...]

nothing is wrong with selling.. a lot is wrong with panic selling.. and that is a majority of what I see pushed

It's only panic selling if you didn't conclude price will continue to fall and you sell anyway.

I see more and more evidence that this correction is far from over.

Hence my recommendation: wait for a moderate rebound (tonight? tomorrow maybe?), take a long, hard look at the charts and the tools of your choice, and then decide if it's time to sell some.

Especially take a look at the 3 months or 6 months charts to see where it's going.

Which monthly charts did you have in mind? The one from Q3/4 2011, or the one from Q2 this year?

In reality, I get your point of course. But do you get mine as well?

Related to our sell, I am happy for everyone who sold at the highs, clearly we've temporarily bottom'd out. To sell now or I think we were having this convo before it almost broke 825 was silly, I would've been more alright with them selling on that very next up tick even.

I should always clarify I have no problem with people selling...as long as they came to that decision on their own opposed to following peoples advice without reading the theory behind or fact checking news articles getting familiar with charts etc.

I myself have been tempted to sell at the 3-4 highs and make 50 - 100 a coin minus 1.5% fees and those just intra day fluctuations. However I remain bullish and remain interested in the eurozone bail in talks.. this news could take us to a new bubble and in that one I see myself selling.

IF the bail in for the eurozone works like that of Cyprus, then you may end up "using" your stash rather than exchanging it for worthless euro's

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