Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 31133.

solex

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Quote from: Nolo on December 05, 2013, 11:47:52 PM

Quote from: Vigil on December 05, 2013, 11:10:21 PM

Quote from: BitChick on December 05, 2013, 11:08:27 PM

Am I the only one completely unfazed by this drop? Perhaps it is a sign that I have been involved with BTC long enough to understand that what goes up must come down but will eventually go up again? As a newbie I pretty much panicked in April and was depressed when the price dropped after that epic rise but now it just feels normal and almost welcomed to have some drops. Corrections have to happen in the growth process I believe. The great thing I am seeing is that the drops are getting smaller percentage wise. Perhaps due to the larger number of holders and less whales that can manipulate prices?

No. Everyone else is completely unfazed as well.

Well damn. I thought I was just personally starting to become "cooler" to these swings. Apparently everyone else is as well.

Yeah, I am much happier now that Barry Silbert has our backs, ready to turn his firehose of fiat on any flash crash.

jojo69

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diamond-handed zealot

unfazed yes...feeling a little thin under us here though, hoping for a lower entry point yet

Nolo

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Whoa, there are a lot of cats in this wall.

Quote from: Vigil on December 05, 2013, 11:10:21 PM

Quote from: BitChick on December 05, 2013, 11:08:27 PM

Am I the only one completely unfazed by this drop? Perhaps it is a sign that I have been involved with BTC long enough to understand that what goes up must come down but will eventually go up again? As a newbie I pretty much panicked in April and was depressed when the price dropped after that epic rise but now it just feels normal and almost welcomed to have some drops. Corrections have to happen in the growth process I believe. The great thing I am seeing is that the drops are getting smaller percentage wise. Perhaps due to the larger number of holders and less whales that can manipulate prices?

No. Everyone else is completely unfazed as well.

Well damn. I thought I was just personally starting to become "cooler" to these swings. Apparently everyone else is as well.

User705

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First 100% Liquid Stablecoin Backed by Gold

Quote from: ?? on ??

Quote from: BitChick on December 05, 2013, 11:08:27 PM

Am I the only one completely unfazed by this drop? Perhaps it is a sign that I have been involved with BTC long enough to understand that what goes up must come down but will eventually go up again? As a newbie I pretty much panicked in April and was depressed when the price dropped after that epic rise but now it just feels normal and almost welcomed to have some drops. Corrections have to happen in the growth process I believe. The great thing I am seeing is that the drops are getting smaller percentage wise. Perhaps due to the larger number of holders and less whales that can manipulate prices?

Well, it certainly helps when the price is several times above your initial investment. The Silk Road Crash was terrifying for me, and while I made some profit from it it would've been a lot better without the emotion.

But I think you're right. Whales have less influence and apparently cannot topple the market on a whim. We will have to rise much higher for that to happen. I'll be ready. Cool

That or the reason this rise exists is because silk road took 200,000 bitcoins of the market and now we have another 100,000 out with sheep market theft. Or not.

windjc

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Quote from: Coinseeker on December 05, 2013, 10:36:17 PM

Quote from: Macno on December 05, 2013, 10:31:13 PM

What about merchants? Can they still accept bitcoin without any problems?

Quote

From the nature point of view, Bitcoin is a specific virtual goods, does not have legal status and monetary equivalent, can not and should not be used as currency in circulation in the market.　

　
http://www.pbc.gov.cn/publish/goutongjiaoliu/524/2013/20131205153950799182785/20131205153950799182785_.html

That doesnt necessarily mean what you think it does. Show me documented proof that businesses can't accept something (like a commodity) other than CYN as long as they pay taxes on the profit they received in CYN.

I bet you can't. Thanks for playing.

OldGeek

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Blitz:The price affects the perception of the news

Quote from: adamstgBit on December 05, 2013, 11:04:47 PM

Quote from: OldGeek on December 05, 2013, 11:03:43 PM

Quote from: adamstgBit on December 05, 2013, 10:53:39 PM

my prediction for the next few days

Until the Sunday bitpay hits the market?

huh?

There was some discussion about causes for the last two Sunday drops. Someone suggested it was bitpay converting to cash for the weekend sales by their merchants. ::shrug::

Vigil

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Quote from: BitChick on December 05, 2013, 11:08:27 PM

Am I the only one completely unfazed by this drop? Perhaps it is a sign that I have been involved with BTC long enough to understand that what goes up must come down but will eventually go up again? As a newbie I pretty much panicked in April and was depressed when the price dropped after that epic rise but now it just feels normal and almost welcomed to have some drops. Corrections have to happen in the growth process I believe. The great thing I am seeing is that the drops are getting smaller percentage wise. Perhaps due to the larger number of holders and less whales that can manipulate prices?

No. Everyone else is completely unfazed as well.

BitChick

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Am I the only one completely unfazed by this drop? Perhaps it is a sign that I have been involved with BTC long enough to understand that what goes up must come down but will eventually go up again? As a newbie I pretty much panicked in April and was depressed when the price dropped after that epic rise but now it just feels normal and almost welcomed to have some drops. Corrections have to happen in the growth process I believe. The great thing I am seeing is that the drops are getting smaller percentage wise. Perhaps due to the larger number of holders and less whales that can manipulate prices?

adamstgBit

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Trusted Bitcoiner

Quote from: OldGeek on December 05, 2013, 11:03:43 PM

Quote from: adamstgBit on December 05, 2013, 10:53:39 PM

my prediction for the next few days

Until the Sunday bitpay hits the market?

huh?

OldGeek

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Blitz:The price affects the perception of the news

Quote from: adamstgBit on December 05, 2013, 10:53:39 PM

my prediction for the next few days

Until the Sunday bitpay hits the market?

ChartBuddy

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adamstgBit

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my prediction for the next few days

Tongue

Vigil

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Quote from: dwdoc on December 05, 2013, 10:40:15 PM

Quote from: Vigil on December 05, 2013, 09:07:20 PM

If you want to know what is happening just look at the chart on Dec. 2 - we are going through a replay of that algorithm pattern after the big sell-off. I am guessing it will hit close to $1010 over the next three hours. Maybe lower.

Nice call. What happens after we hit 1200?

It will probably be the ATH or close, so $1240 or so. Uhhh... I have no idea. He could continue running the bot, which would mean a sell-off again; he could switch up to a new algo; natural buying pressure could push us higher; he may have so much leverage he can crash the entire thing... But that doesn't really narrow it down. If we have a period of steady price for about a day or so, there will probably be another massive sell-off. I will probably sell around the $1230 mark to be safe. Just have to wait and see what happens.

BitThink

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Quote from: Macno on December 05, 2013, 10:31:13 PM

What about merchants? Can they still accept bitcoin without any problems?

They can only accept them as a commodity, which are not so convenient in accounting and taxing. Therefore, there will be not so many merchants will considering bitcoin as a direct payment currently. There're, however, always work around.

According to the same report I mentioned, some merchants are considering using third-part services. I think Bitpay-like services will emerge in China soon. If Merchants only receive fiats from the Bitpay-like services, then they don't have anything to worry about. Bitpay-like services themselves are just doing something like buying 'commodities' and giving back fiats, which is totally legal too.

dwdoc

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- - -Caveat Aleo- - -

Quote from: Vigil on December 05, 2013, 09:07:20 PM

If you want to know what is happening just look at the chart on Dec. 2 - we are going through a replay of that algorithm pattern after the big sell-off. I am guessing it will hit close to $1010 over the next three hours. Maybe lower.

Nice call. What happens after we hit 1200?

Coinseeker

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Quote from: Macno on December 05, 2013, 10:31:13 PM

What about merchants? Can they still accept bitcoin without any problems?

Quote

From the nature point of view, Bitcoin is a specific virtual goods, does not have legal status and monetary equivalent, can not and should not be used as currency in circulation in the market.　

　
http://www.pbc.gov.cn/publish/goutongjiaoliu/524/2013/20131205153950799182785/20131205153950799182785_.html

OldGeek

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Blitz:The price affects the perception of the news

Quote from: Vigil on December 05, 2013, 10:20:45 PM

My $1010 prediction was perfect.

+1

Nightowlace

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Quote from: Macno on December 05, 2013, 10:31:13 PM

What about merchants? Can they still accept bitcoin without any problems?

Yes that's what this all means.

seleme

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Duelbits.com

Quote from: BitThink on December 05, 2013, 10:27:53 PM

Maybe a little bit obsolete already, but anyway here's something I read from Chinese media:

In China, bitcoin enterprises all think the notice of government published yesterday were very positive news to them. Bitcoin is not recognized as currency means they don't need to get currency related license, which is almost impossible for them to apply. In other words, if bitcoin was recognized as currency, then all the exchanges would have to close immediately because then don't have and will have no way to get currency exchange license. In China, currency exchange is strictly restricted and only some state banks can provide limited service.

Since the government officially announced the bitcoin is a 'virtual commodity', so there's much less policy risks now. More mainstream enterprises are considering bitcoin related business more seriously now.

Excellent.

Anyway, some people are extremely stupid. Any Bitcoin legislation except ban, is very bullish. Legislation means acceptance and that's all Bitcoin needs - safety from governments. Taxes were always on the road, millions and millions are traded daily, if someone thought that won't be taxed soon he is deluded.

Macno

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What about merchants? Can they still accept bitcoin without any problems?

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