Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33062. (Read 26623553 times)

Sideways trading on low volume. Tonight, I'd expect red fireworks celebrating USA dollars of independence.

Agreed, impossible say with certainty for extended periods. I just say that before a positive cycle is resumed the price needs to fully deflate and then enter in a sustainable uptrend. Obviously nobody can predict a 100% certain timeframe, only guesstimate.

But anyhow I don't understand your post about Rhodium, your point is that BTC will behave as Rhodium long term? I think that's BS. I don't deny that the charts look similar, with their two bubbles (good catch BTW), but they are fundamentally different assets. You say they have three properties in common:


1) scarcity is relative in Bitcoin, as each BTC can be easily and very conveniently divided in 100.000.000 sub-units, ready to be immediately transferred with a clic. I don't see how its scarcity is comparable to Gold or Rhodium, apart from a fundamental and general aspect: supply is limited inflation is more or less predictable.

2) yes, but for different reasons. Bitcoin is still an experiment in its initial stages.

3) all commodities are subject to hypes

My point is that I don't get what is the "killer similarity" between BTC and Rhodium. Yes, Bitcoin is a "digital commodity". But its "digital" form is not only an adjective, is a very important characteristic that makes Bitcoin different from any physical commodity. It can be easily transfered, transported, hided, divided, etc. Stores of value are needed, they provide an utility, and Bitcoin is a huge improvement in utility over physical stores of value because of its convenience and "digital" characteristics. Plus, you have the blockchain, which is a fascinating, multi-use beast by itself. Then, you have colored coins applications. The possibilities Bitcoins open go well beyond its similarity with physical commodities. I really think that saying that in the long term Bitcoin will probably behave like Rhodium is baseless.

In my opinion you can't say with certainty for extended periods.
I made this thread once to state what I think about it: https://bitcointalksearch.org/topic/bitcoin-is-not-digital-gold-it-is-digital-rhodium-189308

Well predicted

Me, I pulled my sell just above that. This is after all exactly the drop I've been expecting since $130.

I'm loathe to try to trade the next one though, unless it's clear it's an avalanche.

I'm no perm-bear, saying the bubble needs to deflate (to $50 or whatever the bottom will be, I have no crystal ball) is just stating the obvious.

If you think that I'm full of shit for believing we had a bubble which is now deflating, then maybe you are in denial of facts, but honestly it didn't seem so by your posts.

 

Not denying that.
Well at least I can take the piss to back it up.

Flamewar

edit: looks like we have a  little consolidation although it's too soon to cheer of course. One massive dump and we're heading into the 60's.

So no quotes? If you don't like me say that instead of making stuff up. Less childish.

Funny how this works against you.

You don't have to make claims to be full of it.

Can you quote some of my claims that are full of shit?

You and him both.
Perhaps two sides of the same coin.

People, you don't get it. Rampion said we need to hit 50 first before we go up. So you can easily sell 100% now like he obviously also did. Unless he's full of shit ofcourse.

Yeah it's kind of odd... Bot gone rogue?

Maybe it's trying to encourage someone to dump into it, thus buying coins without driving the price up

it's a very short period of time. Therefore, we know just yet, although the maximum is 84.27 so far, but it's very spice. Then, around 82, but at 82 it's now 2155 BTC for sell ...

So I just wanted to say: if the demand will be not significantly higher, I see no next increase ...

not sure what this for..   to trick people into dumping and then suddenly get price down..

or to fake support to keep price up ..

lol fascinating though

Jaroslaw, your turn.

So I wake up to the MtGox news - this is how I read it...

"withdrawals have now fully resumed as of today"
"...a two-week back-log..."
"...a few weeks to get back to normal..."

This is not good news.  This is a thinly veiled: "uhm, we need a little more time getting our finances in order."