Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 31816.

kurious

legendary

Activity: 2604

Merit: 1748

Quote from: derpinheimer on November 20, 2013, 12:32:00 PM

Quote from: Richy_T on November 20, 2013, 12:30:32 PM

Quote from: Nightowlace on November 20, 2013, 10:35:59 AM

Quote from: lemonte on November 20, 2013, 10:12:41 AM

Quote from: Nightowlace on November 20, 2013, 10:10:17 AM

I believe BTC should be in the $150 range. There is nothing to support any higher of a price.

What makes you say that?

Because at this point there are a lot of exciting projects in the works for BTC. Key word in the works. One ATM and a letter from Bernake saying BTC is legit and we can't really regulate it doesn't make it worth $600. I am willing to place a value on the speculation of what could happen but until it does it's not.

Look at it this way; If I asked you to invest in my company that had some great projects in the works that will make us billions would you give me a billion dollar valuation right away or would you want to come in at a more sensible valuation because we are so early on? You're not going to make an investment based on what it could be, you will invest on what it is.

How about if that company had developed a universal cure for cancer with apparently no side effects and just had to go through FDA approval and marketing?

I agree. Saying its "In the works" does not mean it shouldnt count.

Also, down we go?

Some things are worth what is perceived as their potential.

Otherwise - why did the Twitter float raise so much. Whatever you think of Twitter it is only an 'app' and it has NEVER made any money.

Bitcoin is a potential world currency - it is way more important than an 'app'.

Do they have US Senate hearings about Twitter?

All price guesses are beyond easy prediction, however BTC is the market leader in the potential future of a new paradigm in the world of currency. Yes - it is massive win, or potential fail - but is not worthless.

Potential has a price, or why would anyone bet on sport, shares or anything with no truly solid tangible value?

I don't think Bitcoin is going away, it is potentially truly massive in what it can do to in terms of changing the game of the entire world's money and means of exchange.

It may not be the only decentralised digital currency - not even the best.

But it may well be the first that makes a difference....

N12

donator

Activity: 1610

Merit: 1010

I wonder if there are similarly hilarious bull quotes from me from the past. Too lazy to search. Get on it Kozi. Cheesy

DougTanner

sr. member

Activity: 280

Merit: 250

Quote from: fluidjax on November 20, 2013, 12:17:32 PM

That was a huge amount of interest in Bitcoin on Reddit and Wiki yesterday compared to previous days/weeks.

http://www.reddit.com/r/bitcoin/about/traffic

There must be a lot of money 'in transit' to the exchanges.
I'm not so sure this bubble is ready for popping just yet..

Reposting.

Nightowlace

hero member

Activity: 980

Merit: 1001

Quote from: Richy_T on November 20, 2013, 12:30:32 PM

Quote from: Nightowlace on November 20, 2013, 10:35:59 AM

Quote from: lemonte on November 20, 2013, 10:12:41 AM

Quote from: Nightowlace on November 20, 2013, 10:10:17 AM

I believe BTC should be in the $150 range. There is nothing to support any higher of a price.

What makes you say that?

Because at this point there are a lot of exciting projects in the works for BTC. Key word in the works. One ATM and a letter from Bernake saying BTC is legit and we can't really regulate it doesn't make it worth $600. I am willing to place a value on the speculation of what could happen but until it does it's not.

Look at it this way; If I asked you to invest in my company that had some great projects in the works that will make us billions would you give me a billion dollar valuation right away or would you want to come in at a more sensible valuation because we are so early on? You're not going to make an investment based on what it could be, you will invest on what it is.

How about if that company had developed a universal cure for cancer with apparently no side effects and just had to go through FDA approval and marketing?

You would need my investment for that approval and marketing so why would I pay you too dollar knowing you need it? I would come in much lower know in you need it and would enjoy this nice ride up as it gained approval.

TheKoziTwo

legendary

Activity: 1552

Merit: 1047

Quote from: ardana123 on November 20, 2013, 12:46:17 PM

You actually went through the trouble of finding all those posts and putting them in quotes Cheesy

I already quoted this before, just re-posted it. And I'm not mad at all, I think this is hilarious. Just posted for lulz.

N12

donator

Activity: 1610

Merit: 1010

I do get the feeling a lot of people are mad at me for my habit of expecting the worst. Cheesy

Joenaes

newbie

Activity: 20

Merit: 0

Quote from: adamstgBit on November 20, 2013, 12:20:28 PM

Quote from: Joenaes on November 20, 2013, 12:18:38 PM

This bull trap? is lasting longer than I thought. I dont like it, im still in dirty fiat Sad

ya me too...

but #1 golden rule of trading, stick to your trade.

either way i make money so who cares.

Yea I also sold $700+, but still, you always want to make the perfect decision. I guess ill go sleep now and reanalyze in the morning.

ardana123

hero member

Activity: 504

Merit: 500

Quote from: TheKoziTwo on November 20, 2013, 12:42:22 PM

Quote from: CryptStorm on November 20, 2013, 10:12:18 AM

Quote from: N12 on November 20, 2013, 10:05:46 AM

My intention is to warn you guys to practice proper risk management because inevitably, even with a small investment, your Bitcoin allocation will be the main source of your wealth. Marginal utility of wealth dictates that it's more important to secure your first million than to make another.

I've seen it go down from 32 to 2 and it was a really bullish environment too until about 14. Don't fool yourself thinking it can't happen again today. That's just the nature of humans.

+1
I, for one, gotta say thanks for this comment, Blitz. I'm new to this forum but really appreciate your comments here-- I know that I certainly have ridiculously risky appetite, despite a fairly good knowledge (for a non-pro trader) of position sizing and risk allocation. Do I properly size my positions, do I use a trailing stop, do I take profits appropriately, and cut losses every time? Certainly, I feel like these are my weakest areas. Finding BTC is probably the hard part. Now that I'm here, I should really exert those controls and be patient.

Do you have any more suggestions on/about BTC risk management? (excuse me, as I haven't read back through the last 20 pps)

Cheers!

You're asking the right guy for advice.

Here's a few of his pretty good predictions back in july:

Quote from: N12 on July 12, 2013, 09:57:14 AM

Goodbye, triple digits. See you 2015.

Quote from: N12 on July 12, 2013, 03:11:36 PM

After this week, I'm not sure we will see triple digits in 2013 again.

Quote from: N12 on July 12, 2013, 08:55:06 PM

This has never been a billion dollar market to begin with. Triple digit, billion, those are things of a faint past.

Quote from: N12 on July 18, 2013, 01:25:26 AM

No more triple digits for 2013.

Quote from: N12 on July 18, 2013, 02:12:45 AM

Noone buys the triple digit lie anymore.

Quote from: N12 on July 18, 2013, 01:55:42 AM

Looks like MtGox is beginning to shake off its denial and join the ranks of the 80s. This is only the beginning.

Quote from: N12 on July 17, 2013, 07:24:29 PM

What if the buyer is an established casino firm that wanted to get into the Bitcoin game? If that's the case, then they would've been accumulating beforehand and have been responsible for some of the buying pressure. This would now be gone, along with 350k coins released on the market.

I smell blood.

You actually went through the trouble of finding all those posts and putting them in quotes Cheesy

ShroomsKit

hero member

Activity: 672

Merit: 500

Quote from: TheKoziTwo on November 20, 2013, 12:42:22 PM

Quote from: CryptStorm on November 20, 2013, 10:12:18 AM

Quote from: N12 on November 20, 2013, 10:05:46 AM

My intention is to warn you guys to practice proper risk management because inevitably, even with a small investment, your Bitcoin allocation will be the main source of your wealth. Marginal utility of wealth dictates that it's more important to secure your first million than to make another.

I've seen it go down from 32 to 2 and it was a really bullish environment too until about 14. Don't fool yourself thinking it can't happen again today. That's just the nature of humans.

+1
I, for one, gotta say thanks for this comment, Blitz. I'm new to this forum but really appreciate your comments here-- I know that I certainly have ridiculously risky appetite, despite a fairly good knowledge (for a non-pro trader) of position sizing and risk allocation. Do I properly size my positions, do I use a trailing stop, do I take profits appropriately, and cut losses every time? Certainly, I feel like these are my weakest areas. Finding BTC is probably the hard part. Now that I'm here, I should really exert those controls and be patient.

Do you have any more suggestions on/about BTC risk management? (excuse me, as I haven't read back through the last 20 pps)

Cheers!

You're asking the right guy for advice.

Here's a few of his pretty good predictions back in july:

Quote from: N12 on July 12, 2013, 09:57:14 AM

Goodbye, triple digits. See you 2015.

Quote from: N12 on July 12, 2013, 03:11:36 PM

After this week, I'm not sure we will see triple digits in 2013 again.

Quote from: N12 on July 12, 2013, 08:55:06 PM

This has never been a billion dollar market to begin with. Triple digit, billion, those are things of a faint past.

Quote from: N12 on July 18, 2013, 01:25:26 AM

No more triple digits for 2013.

Quote from: N12 on July 18, 2013, 02:12:45 AM

Noone buys the triple digit lie anymore.

Quote from: N12 on July 18, 2013, 01:55:42 AM

Looks like MtGox is beginning to shake off its denial and join the ranks of the 80s. This is only the beginning.

Quote from: N12 on July 17, 2013, 07:24:29 PM

What if the buyer is an established casino firm that wanted to get into the Bitcoin game? If that's the case, then they would've been accumulating beforehand and have been responsible for some of the buying pressure. This would now be gone, along with 350k coins released on the market.

I smell blood.

N12

donator

Activity: 1610

Merit: 1010

Why so mad, Kozi? Despite all that, I outperformed Bitcoin, and I didn't even mean to.

Like I said, I like trolling and being overly dramatic sometimes.

jojo69

legendary

Activity: 3388

Merit: 4775

diamond-handed zealot

pwnd

NewLiberty

legendary

Activity: 1204

Merit: 1002

Gresham's Lawyer

Quote from: Miz4r on November 20, 2013, 12:07:54 PM

Quote from: rpietila on November 20, 2013, 11:58:32 AM

A bull is a person who does not hold fiat.

A bear is a person who holds at least some fiat and wants to return to BTC.

As you can see, I am now a bear. But almost everybody else are bulls. What this means is that you do not have the means to influence price to the upside. Only we do. But we are very few. Also the newbies do. But will they really buy in this kind of situation?

Everyone else are bulls? The bears are all over this forum today predicting their doom and gloom, even Blitz turned bear and is preaching 2011 all over again. Tongue

My straw poll index of
1) Number of new localbitcoin buyers pestering me.
2) Coinbase time of running out of coins for sale. (though it seems there were enough sellers that they have been able to offer coins at times)

Suggests to me that there is still more new moneyflow in ahead, though short term is the domain of the whales and the sharks.
Am only looking at week over week, and wouldn't call anything daily (nor would that matter to me as it takes longer than that to get cash to an exchange).
I gave up the TA chart analytics, algo writing and daytrading in the 90s as an activity that does not make the best use of my talents, but cherish the lessons from those long gone days, I made a lot of money for people that were a lot richer than I was (or will ever be).

TheKoziTwo

legendary

Activity: 1552

Merit: 1047

Quote from: CryptStorm on November 20, 2013, 10:12:18 AM

Quote from: N12 on November 20, 2013, 10:05:46 AM

My intention is to warn you guys to practice proper risk management because inevitably, even with a small investment, your Bitcoin allocation will be the main source of your wealth. Marginal utility of wealth dictates that it's more important to secure your first million than to make another.

I've seen it go down from 32 to 2 and it was a really bullish environment too until about 14. Don't fool yourself thinking it can't happen again today. That's just the nature of humans.

+1
I, for one, gotta say thanks for this comment, Blitz. I'm new to this forum but really appreciate your comments here-- I know that I certainly have ridiculously risky appetite, despite a fairly good knowledge (for a non-pro trader) of position sizing and risk allocation. Do I properly size my positions, do I use a trailing stop, do I take profits appropriately, and cut losses every time? Certainly, I feel like these are my weakest areas. Finding BTC is probably the hard part. Now that I'm here, I should really exert those controls and be patient.

Do you have any more suggestions on/about BTC risk management? (excuse me, as I haven't read back through the last 20 pps)

Cheers!

You're asking the right guy for advice.

Here's a few of his pretty good predictions back in july:

Quote from: N12 on July 12, 2013, 09:57:14 AM

Goodbye, triple digits. See you 2015.

Quote from: N12 on July 12, 2013, 03:11:36 PM

After this week, I'm not sure we will see triple digits in 2013 again.

Quote from: N12 on July 12, 2013, 08:55:06 PM

This has never been a billion dollar market to begin with. Triple digit, billion, those are things of a faint past.

Quote from: N12 on July 18, 2013, 01:25:26 AM

No more triple digits for 2013.

Quote from: N12 on July 18, 2013, 02:12:45 AM

Noone buys the triple digit lie anymore.

Quote from: N12 on July 18, 2013, 01:55:42 AM

Looks like MtGox is beginning to shake off its denial and join the ranks of the 80s. This is only the beginning.

Quote from: N12 on July 17, 2013, 07:24:29 PM

What if the buyer is an established casino firm that wanted to get into the Bitcoin game? If that's the case, then they would've been accumulating beforehand and have been responsible for some of the buying pressure. This would now be gone, along with 350k coins released on the market.

I smell blood.

Nightowlace

hero member

Activity: 980

Merit: 1001

Quote from: N12 on November 20, 2013, 11:26:39 AM

Quote from: Nightowlace on November 20, 2013, 11:23:56 AM

That would be amazing. I still have some BTC but not like I used too. I sold all the way up but I kept a few here and there. Plus I still have a good chunk of casasius coins (for sale see link in signature, lol). I just want to see it succeed and I feel like these kinds of swings do more damage. That's why I'd rather see it crash back down sooner than later on these crazy rides.

How much of a premium and at what price did your 2011 ("casacius") coin go for if you don't mind me asking?

8BTC

Pruden

hero member

Activity: 496

Merit: 500

Spanish Bitcoin trader

Quote from: Nightowlace on November 20, 2013, 10:35:59 AM

Look at it this way; If I asked you to invest in my company that had some great projects in the works that will make us billions would you give me a billion dollar valuation right away or would you want to come in at a more sensible valuation because we are so early on? You're not going to make an investment based on what it could be, you will invest on what it is.

In Spanish, the words for "inversion" and "investment" are the same. Makes sense, because when making an investment you are giving away your money with no immediate benefit, hoping for more in the future. You are not buying what it is, but what you think it will be.

Parazyd

hero member

Activity: 812

Merit: 587

Space Lord

I just turned 100% bull Cheesy

No more fiat in my Bitstamp

jojo69

legendary

Activity: 3388

Merit: 4775

diamond-handed zealot

Quote from: adamstgBit on November 20, 2013, 12:20:28 PM

stick to your trade.

no kidding, took me too long to learn that, so much better since I stopped making losing trades...lol

haightst

newbie

Activity: 42

Merit: 0

Quote from: adamstgBit on November 20, 2013, 11:40:46 AM

Quote from: Mirsad on November 20, 2013, 11:38:38 AM

Craaaaazy rollercoaster.

Don't forget to sell on the way up. Or the newbies cry after the next bubble pop.

the next bubble to pop is America

LOL -> food stamp X bitcoin exchange! (coming soon!) Wink

haaaa

Peter R

legendary

Activity: 1162

Merit: 1007

Quote from: rpietila on November 20, 2013, 11:58:32 AM

A bull is a person who does not hold fiat.

A bear is a person who holds at least some fiat and wants to return to BTC.

As you can see, I am now a bear. But almost everybody else are bulls. What this means is that you do not have the means to influence price to the upside. Only we do. But we are very few. Also the newbies do. But will they really buy in this kind of situation?

What about all the bulls that earn a paycheque in fiat?

If your income is in dollars or euros, etc., it seems reasonable to allocate (say) 20% of your long-term-savings money to BTC. This would add constant upwards price pressure. A lot of bitcoiners are young: their BTC holdings in absolute terms will rise, despite bitcoin becoming a smaller and smaller % of their net worth.

derpinheimer

legendary

Activity: 896

Merit: 1000

Quote from: Richy_T on November 20, 2013, 12:30:32 PM

Quote from: Nightowlace on November 20, 2013, 10:35:59 AM

Quote from: lemonte on November 20, 2013, 10:12:41 AM

Quote from: Nightowlace on November 20, 2013, 10:10:17 AM

I believe BTC should be in the $150 range. There is nothing to support any higher of a price.

What makes you say that?

Because at this point there are a lot of exciting projects in the works for BTC. Key word in the works. One ATM and a letter from Bernake saying BTC is legit and we can't really regulate it doesn't make it worth $600. I am willing to place a value on the speculation of what could happen but until it does it's not.

Look at it this way; If I asked you to invest in my company that had some great projects in the works that will make us billions would you give me a billion dollar valuation right away or would you want to come in at a more sensible valuation because we are so early on? You're not going to make an investment based on what it could be, you will invest on what it is.

How about if that company had developed a universal cure for cancer with apparently no side effects and just had to go through FDA approval and marketing?

I agree. Saying its "In the works" does not mean it shouldnt count.

Also, down we go?

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 31816. (Read 26711453 times)