Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33276.

nmersulypnem

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Quote from: ineededausername on June 06, 2013, 05:12:22 PM

All that needs to happen for the price to start rocketing again is for the big VCs to back a fully-registered, convenient-to-use, stable and secure exchange, eliminating all uncertainty from the market. Is that so far out of the question?
Every major down-spike in the last few weeks has been due to the government or MtGox doing something wrong, but with all the VC money flowing in, things are going to get better.

I can't wait to see what Bitcoin looks like on New Year's Day 2014

The last two 10% drops were not related to any news event. ...also, there is no VC that is going to put significant amounts of cash into something that is so heavily influenced by illegal activity. At the moment, the Bitcoin economy is still used 90% for Silk Road purchases.

phoenix1

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Quote from: crumbcake on June 06, 2013, 05:08:48 PM

Mexican Dwarf Toreador. Make of it what you will.

Isn't the 'bull' rather small too Cheesy

More of a calf I think . A fair match ...

ineededausername

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bitcoin hundred-aire

All that needs to happen for the price to start rocketing again is for the big VCs to back a fully-registered, convenient-to-use, stable and secure exchange, eliminating all uncertainty from the market. Is that so far out of the question?
Every major down-spike in the last few weeks has been due to the government or MtGox doing something wrong, but with all the VC money flowing in, things are going to get better.

I can't wait to see what Bitcoin looks like on New Year's Day 2014

nmersulypnem

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Activity: 238

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You guys see that 1000 BTC wall at 118.24551 USD? It is actually on the EUR book at 92.75. I thought it was bs to prop up the price, but I guess we have some pretty solid support at the moment...

crumbcake

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Mexican Dwarf Toreador. Make of it what you will.

http://i.telegraph.co.uk/multimedia/archive/01911/dwarf-bullfighter_1911890i.jpg

ChartBuddy

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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

niothor

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in defi we trust

Quote from: Its About Sharing on June 06, 2013, 04:52:07 PM

Really, this is an exciting place to be. Taking part in the largest social experiment the world has ever known is huge. Maybe that makes BTC sound cheap as it will live on in many forms regardless
of what the government does, so the experimental part is the immediate part.

Common.......
It's people like you , bitcoin religious zealots that make me worry about future of bitcoin..
Largest ..... give me please some numbers and stop spreading you know what around.

Frozenlock

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Sure it's bearish.

Unless you're trying to tell that a short term drop of 50% is inconsequent.

Rampion

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Quote from: Frozenlock on June 06, 2013, 04:41:27 PM

I don't see it like that, at all.

The longer it takes before we start going up again, the more bearish I become.

Do you really think not going lower than $50 is bearish?

In my book, everything above $30ish is bullish, considering the BTC price just a few months ago - and I don't see it going as low as $30ish.

Probably I'm looking at it with the eyes of an investor and not those of a day trader, but remember that all growth is preceeded by stability.

Miz4r

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Quote from: ElectricMucus on June 06, 2013, 04:34:38 PM

Quote from: zemario on June 06, 2013, 04:30:38 PM

True. However, if bitcoin is going to have wider adoption, the price has to go up to accommodate a larger slice of world economy.

The price of Bitcoin is largely irrelevant to economic activity. XRP for instance has a theoretical market cap several times that of Bitcoin, yet nobody really uses ripple right now.

Isn't that largely because 95% of all the XRP's are in the hands of Opencoin which creates an artificial sense of scarcity in the market? If bitcoins were all premade and Satoshi had kept 20M bitcoins in his possession and only released 1M of them to the public the market cap would be much higher as well (provided people wouldn't feel it was a scam just to make Satoshi rich as fuck).

Its About Sharing

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Antifragile

Quote from: Rampion on June 06, 2013, 04:39:44 PM

I agree on the fact that the stability we had during the last days is very bullish. After a parabolic growth period that looked and felt like a huge bubble exposed to the eyes of the whole world, BTC is trading at almost x10 the price we had in January ($14). I still can't help thinking that what we had prior April 10th looked indeed like a bubble, but the truth is the price is not reflecting that, the price says we just had a correction during a very significant growth trend.

Bubble followed by slow bear market decline is still a possibility, but every day trading on this range is one point more for the "correction" case, and a point less for the "bubble burst" case.

This time, the train will live the station (again) rather sooner than later.

As I've been repeating since the week after the crash, this is no 2011.

What is stopping us right now? I think it is clear, the one thing people are worried about is the government stepping in and stopping us. The regulatory thing can be dealt with, in many ways.
IF we weren't worried about the government, where would we be right now price wise? Bitcoin is probably already seen as potentially an incredible store of wealth but the uncertainty with the government
is just a big risk for people. On so many levels (payment system, currency, store of worth, etc.) BTC can justify a much much higher price. If we weren't worried about the government this train would have left the station. We'd be over $1000 right now and worth it. Look at currencies around the world and their
problem. Really, this is an exciting place to be. Taking part in the largest social experiment the world has ever known is huge. Maybe that makes BTC sound cheap as it will live on in many forms regardless
of what the government does, so the experimental part is the immediate part.

ElectricMucus

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Marketing manager - GO MP

Quote from: zemario on June 06, 2013, 04:36:29 PM

Quote from: ElectricMucus on June 06, 2013, 04:34:38 PM

Quote from: zemario on June 06, 2013, 04:30:38 PM

True. However, if bitcoin is going to have wider adoption, the price has to go up to accommodate a larger slice of world economy.

The price of Bitcoin is largely irrelevant to economic activity. XRP for instance has a theoretical market cap several times that of Bitcoin, yet nobody really uses ripple right now.

How does a currency provides the nuts and bolts for an economy that has a value flow larger than it?

It isn't flowing, that's kind of my point. As long as the currency sits in every bodies wallets as a "store of value" and so few people are using it as a payment system the discrepancy between the theoretical market cap (all currency times the price) becomes so large that the effect of real economic activity is basically nil.

MAbtc

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Quote from: Rampion on June 06, 2013, 04:39:44 PM

Bubble followed by slow bear market decline is still a possibility, but every day trading on this range is one point more for the "correction" case, and a point less for the "bubble burst" case.

I disagree!

Frozenlock

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I don't see it like that, at all.

The longer it takes before we start going up again, the more bearish I become.

Rampion

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I agree on the fact that the stability we had during the last days is very bullish. After a parabolic growth period that looked and felt like a huge bubble exposed to the eyes of the whole world, BTC is trading at almost x10 the price we had in January ($14). I still can't help thinking that what we had prior April 10th looked indeed like a bubble, but the truth is the price is not reflecting that, the price says we just had a correction during a very significant growth trend.

Bubble followed by slow bear market decline is still a possibility, but every day trading on this range is one point more for the "correction" case, and a point less for the "bubble burst" case.

This time, the train will live the station (again) rather sooner than later.

As I've been repeating since the week after the crash, this is no 2011.

zemario

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Quote from: ElectricMucus on June 06, 2013, 04:34:38 PM

Quote from: zemario on June 06, 2013, 04:30:38 PM

True. However, if bitcoin is going to have wider adoption, the price has to go up to accommodate a larger slice of world economy.

The price of Bitcoin is largely irrelevant to economic activity. XRP for instance has a theoretical market cap several times that of Bitcoin, yet nobody really uses ripple right now.

How does a currency provides the nuts and bolts for an economy that has a value flow larger than it?

justusranvier

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Quote from: zemario on June 06, 2013, 04:30:38 PM

True. However, if bitcoin is going to have wider adoption, the price has to go up to accommodate a larger slice of world economy.

In order for this to happen importers and exporters need to be able to buy and sell $100 million worth of Bitcoins at a time without making the market go crazy:

http://falkvinge.net/2011/06/18/bitcoins-four-drivers-part-two-international-trade/

ElectricMucus

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Quote from: zemario on June 06, 2013, 04:30:38 PM

True. However, if bitcoin is going to have wider adoption, the price has to go up to accommodate a larger slice of world economy.

The price of Bitcoin is largely irrelevant to economic activity. XRP for instance has a theoretical market cap several times that of Bitcoin, yet nobody really uses ripple right now.

zemario

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Activity: 194

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Quote from: Its About Sharing on June 06, 2013, 04:21:38 PM

Quote from: nmersulypnem on June 06, 2013, 02:55:38 PM

Quote from: Its About Sharing on June 06, 2013, 02:29:52 PM

Quote from: adamstgBit on June 06, 2013, 02:28:39 PM

Quote from: Miz4r on June 06, 2013, 02:26:44 PM

This does look like a classic example of a bear trap, I don't think we're going anywhere. Perhaps we touch 117-118 and then move back to 120.

i think we are going to slowly dip below 115 and then start to pick up speed as we go lower
the bottom is only XX days away!
get your fait ready!

Is this from using your psychic powers or are you basing this on anything? Grin

One important piece of information is the obvious buying/selling disparity. Every time a whale comes in over the last few weeks, they are selling. There have been almost NO whale buyers. That means that people in with the bulk of coins, know that the price is going down. Not to mention, the fact that the price is so easily pushed around by these comparatively tiny whales means that the market is like 80% speculation, 19% volatility bots, and only 1% actual bitcoin economy (not real figures - obviously).

Don't just sit around waiting for the next whale to dump and regret not selling now. Decide on a buy-back number now, and save your bucks for later.

If the whales have been sellers and not buyers over the last two weeks, then how did we go up roughly $10 and then back down to where we are now? And on relatively low volume? Not bad.
I'm not saying you are wrong, but if big sellers in the last two weeks saw us rise up $10 and then back down, doesn't that tell us something else? The market depth might be more manipulation, hard to know.

I don't deny we might head lower. I'm not buying at this level. My biggest concern is the government coming after us openly, not us "dipping" down.
What Bitcoin needs is NO PRICE MOVEMENT, just like we have basically been doing. If we get up there in price it might really come back to bite us with all the attention.
If a price rise happens as currencies are collapsing then we have a chance, as it becomes a store of value and people will fight to keep there money.
I'd say we've almost grown too quick till now, lately. A dip, as much as I don't want it, might be the best thing for us to stay below the radar for a while, but I think the buying will start heavy
at levels much below current levels.

True. However, if bitcoin is going to have wider adoption, the price has to go up to accommodate a larger slice of world economy.

Its About Sharing

legendary

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Antifragile

Quote from: nmersulypnem on June 06, 2013, 02:55:38 PM

Quote from: Its About Sharing on June 06, 2013, 02:29:52 PM

Quote from: adamstgBit on June 06, 2013, 02:28:39 PM

Quote from: Miz4r on June 06, 2013, 02:26:44 PM

This does look like a classic example of a bear trap, I don't think we're going anywhere. Perhaps we touch 117-118 and then move back to 120.

i think we are going to slowly dip below 115 and then start to pick up speed as we go lower
the bottom is only XX days away!
get your fait ready!

Is this from using your psychic powers or are you basing this on anything? Grin

One important piece of information is the obvious buying/selling disparity. Every time a whale comes in over the last few weeks, they are selling. There have been almost NO whale buyers. That means that people in with the bulk of coins, know that the price is going down. Not to mention, the fact that the price is so easily pushed around by these comparatively tiny whales means that the market is like 80% speculation, 19% volatility bots, and only 1% actual bitcoin economy (not real figures - obviously).

Don't just sit around waiting for the next whale to dump and regret not selling now. Decide on a buy-back number now, and save your bucks for later.

If the whales have been sellers and not buyers over the last two weeks, then how did we go up roughly $10 and then back down to where we are now? And on relatively low volume? Not bad.
I'm not saying you are wrong, but if big sellers in the last two weeks saw us rise up $10 and then back down, doesn't that tell us something else? The market depth might be more manipulation, hard to know.

I don't deny we might head lower. I'm not buying at this level. My biggest concern is the government coming after us openly, not us "dipping" down.
What Bitcoin needs is NO PRICE MOVEMENT, just like we have basically been doing. If we get up there in price it might really come back to bite us with all the attention.
If a price rise happens as currencies are collapsing then we have a chance, as it becomes a store of value and people will fight to keep there money.
I'd say we've almost grown too quick till now, lately. A dip, as much as I don't want it, might be the best thing for us to stay below the radar for a while, but I think the buying will start heavy
at levels much below current levels.

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