Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32788. (Read 26468916 times)
July 01, 2013, 07:06:48 PM
Well, $88 failed with no resistance whatsoever. I'm starting to think that the only point left with real support is going to be $50ish
July 01, 2013, 07:04:25 PM
Does anybody want to buy 200k paper Bitcoins from the Winklevoss aka Hunt Brothers 2.0? https://www.sec.gov/Archives/edgar/data/1579346/000119312513279830/d562329ds1.htm
So they're bailing out ... now ... that should really help with confidence
July 01, 2013, 07:04:14 PM
Does anybody want to buy 200k paper Bitcoins from the Winklevoss aka Hunt Brothers 2.0? https://www.sec.gov/Archives/edgar/data/1579346/000119312513279830/d562329ds1.htm
Lol I hope they are trolling
July 01, 2013, 07:02:45 PM
Whoa someone just bought 1.5k BTC at Bitstamp. Ate the entire 1k wall at 85 with slippage up to 88. Too bad I didn't have any sell orders there. 
July 01, 2013, 07:01:11 PM
July 01, 2013, 07:00:25 PM
Does anybody want to buy 200k paper Bitcoins from the Winklevoss aka Hunt Brothers 2.0? https://www.sec.gov/Archives/edgar/data/1579346/000119312513279830/d562329ds1.htm
Well, that's some serious fun ahead.
July 01, 2013, 06:58:33 PM
Holy crap, BTC-E is below 80..
July 01, 2013, 06:57:49 PM
Goodbye 88
July 01, 2013, 06:57:32 PM
88 officially broke. Last thing between us and 50 is 79.
July 01, 2013, 06:56:55 PM
Does anybody want to buy 200k paper Bitcoins from the Winklevoss aka Hunt Brothers? https://www.sec.gov/Archives/edgar/data/1579346/000119312513279830/d562329ds1.htm
Holy fuck-a-doodle-doo. Did we need a reason for a sell-off?
July 01, 2013, 06:56:39 PM
88.011 ... it's ok, were doing fine
yes, 88.00100 a few seconds ago ... July 01, 2013, 06:54:10 PM
Does anybody want to buy 200k paper Bitcoins from the Winklevoss aka Hunt Brothers 2.0? https://www.sec.gov/Archives/edgar/data/1579346/000119312513279830/d562329ds1.htm
July 01, 2013, 06:46:43 PM
800 BTC left and we'll break 16 months of higher lows. I'll admit it; I have removed my $88 bid.
*gulp*
*gulp*
That had to hurt, even landing in a snowdrift is asking for broken bones.
I'm still bullish but I'm watching this http://www.youtube.com/watch?v=onMq0NHEEpo and it seems like a bad omen. Especially the score.
July 01, 2013, 06:44:12 PM
800 BTC left and we'll break 16 months of higher lows. I'll admit it; I have removed my $88 bid.
*gulp*
*gulp*
July 01, 2013, 06:19:25 PM
Even in the bitcoin world, put it in this perspective:
http://www.youtube.com/watch?v=onMq0NHEEpo
4/10/13
Never forget!
Lol, that is amazing video. Price going from 120 to 180 and back in millisecond, lol
Epic day. I spent it trading (or better "watching the sell off", obviously no trading was possible apart from desperately trying to pull bids to place them lower). I saw that happening live, and it was a hell of a ride. I have to admit I enjoyed it. I did not panic sell a single coin (even if I was tempted), but I bought a lot as soon as Gox reopened after the "cooldown". BTW, what a huge Gox fail, I was outraged, such level of amateurism is really beyond me.
I spent it on a public bus. I was just leaving classes when the selling started..
By the time I got home it was in the lower 100's
I didnt sell, either.
July 01, 2013, 06:17:46 PM
Currency is an investment, why else have it?
Currency is a tool to make transactions replacing the old Barter system. This is why all currencies moved off of the gold standard a long time ago.
The more I watch these swings, the more I realize we need inflation.
I think you are confusing inflation with volatility.
My point is that inflation reduces volatility because it keeps the price of the currency at its lowest economically driven price. It gets rid of speculators and allows the real economy enjoy price stability.
If bitcoin would get as big as USD, and supply chains were completely payable in BTC, then volatility would be greatly reduced.
I can see a decreased incentive in lending for a deflationary currency (making only projects with a high expected return economically viable for lending), so maybe the economy would suffer from that. On the other hand, people could save without being worried about counterparty risk or depreciation risk and could get actual productive stuff done with their time instead of having to speculate to make their savings keep their purchasing power.
Truth is we don't know what a bitcoin economy would look like. I guess the gold standard comes closest. Was the economy under the gold standard that much worse? Maybe the past few decades were better, but was that not at the cost of increasing the risk for a systemic collapse? (I am truly asking)
July 01, 2013, 06:14:59 PM
Even in the bitcoin world, put it in this perspective:
http://www.youtube.com/watch?v=onMq0NHEEpo
4/10/13
Never forget!
Lol, that is amazing video. Price going from 120 to 180 and back in millisecond, lol
Epic day. I spent it trading (or better "watching the sell off", obviously no trading was possible apart from desperately trying to pull bids to place them lower). I saw that happening live, and it was a hell of a ride. I have to admit I enjoyed it. I did not panic sell a single coin (even if I was tempted), but I bought a lot as soon as Gox reopened after the "cooldown". BTW, what a huge Gox fail, I was outraged, such level of amateurism is really beyond me.
July 01, 2013, 06:10:24 PM
One thing I've learned over the past few years here is that some will continue to discard everything as FUD, even when it's looking them straight in the eyes.
This. 
Exactly. A mod on a bitcoin forum spreading fud is ridiculous. And not just any kind of fud but totally insane predictions trying to scare new people.
I hope his mod status will be taken away asap.
Stop being such a crybaby. He has actually backed up his positions quite well. In fact, Blitz's analysis was part of the reason I became such a bear ~2 months ago. I hope his mod status will be taken away asap.
Au contraire, I find that a mod able to see other thing than "up Up UP" is far less dangerous.
This. I actually think the perma-bulls constantly spreading irrational exuberance are much more damaging than the bears. They convince newbs to squander their investment capital and lock themselves into holding the bag during a downtrend. What some of you guys need to understand is that your stance bullish/bearish can diverge on different timeframes. It's not "us" vs. "them", this isn't soccer or war.
If you don't care about neither the short nor the mid term trend (say, months ahead), then quite honestly you shouldn't even be reading the speculation forum because it will only serve to distract and distress you when the shorter term trend diverges. If it's not fun, what's the point?
This. The people that get butthurt are the ones that think it's just black and white -- i.e. if you are not a bull, you "want bitcoin to fail", etc. I'm certainly not here so we can all talk about how we are all long term bullish. Who the fuck cares about that? If you want to get religious, there are other forums for that.If you don't care about neither the short nor the mid term trend (say, months ahead), then quite honestly you shouldn't even be reading the speculation forum because it will only serve to distract and distress you when the shorter term trend diverges. If it's not fun, what's the point?
If crash is something that is supposed to happen, I really don't think long time Bitcoin backers should publicly be happy about it, it's an awful thing to read by some noob who's considering going into cryptocurrency.
Kinda lame but I guess that's how it is..
I'd prefer it if people here, especially those looked to as having some sense of seniority, didn't play the role of missionary. I'm here to speculate and wrap my head around others' speculation, not coddle newbs into a false sense of positivity. For the same reason that I would never encourage my friends and family to invest in bitcoin right now, I am not going to advocate for this sort of bullshit.Kinda lame but I guess that's how it is..
1800 more coins and 88 falls. Good times.
July 01, 2013, 06:01:20 PM
July 01, 2013, 05:58:15 PM
People who are refusing to deal with altcoins, specially when Bitcoin is in trouble are dumb IMO. There are so many of them if you catch 10% of pumps you'll be good as much as Bitcoin is failing.
And why couldn't altcoins fall just as hard or harder than bitcoin (just like silver tends to fall faster than gold on the way down)? Just because they might not have done that so far, doesn't mean they won't in the future.
You seem to be assuming that altcoins will take up a larger market share for sure.
I am not sure what you mean. Are you saying you are just buying to sell to a greater fool?
I ride the wave hoping I won't get buried in it...
http://en.wikipedia.org/wiki/Greater_fool_theory
I am fine with trading, but only if I see the fundamental value in the underlying asset.
Well I have a new attitude after April. I USE Bitcoin and mine it - I speculate for more BTCs with XRP and LTC.
That is my strategy...
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