If BTC wants to reach out to the average middle class out there it needs to value itself at $30-50
Yeah, it's a real shame that bitcoins can not be divided.
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33410. (Read 26462345 times)
May 10, 2013, 10:05:50 AM
Yeah, it's a real shame that bitcoins can not be divided.
May 10, 2013, 10:05:10 AM
i have started my dump
...
Are you gonna need help wiping afterwards?...
If he is aiming for 30-50, then yes. Help wiping tears.
May 10, 2013, 10:03:32 AM
i have started my dump
...
Are you gonna need help wiping afterwards? ...
May 10, 2013, 10:02:42 AM
If BTC wants to reach out to the average middle class out there it needs to value itself at $30-50
May 10, 2013, 10:02:13 AM
May 10, 2013, 10:00:34 AM
i have started my dump
just did 200
just did 200
Really? Or are you trolling. 14K BTC sold would greatly move the market.
May 10, 2013, 10:00:28 AM
It used to be the majority in this forum were here to buy, mine and use this new currency called bitcoin. It seems there's more and more people around who see this as some sort of a penny stock.
Sell your USD for real money and keep/use that real money is the game, not "realizing equity" at some point.
If you disagree, you should really think about what money is (or should be)
Sell your USD for real money and keep/use that real money is the game, not "realizing equity" at some point.
If you disagree, you should really think about what money is (or should be)
Bitcoin's value as a currency for real world goods right now is entirely contingent on its rate of exchange to USD. It lacks the large scale, mass adoption to be used as a currency all on its own at this time. However, even if one were to buy it to use as a currency, they would still be better holding and waiting for the price to increase before spending.
Some people in BTC communities seem to get upset if you want to buy Bitcoins for a reason besides using them as a currency, as if it defiles the purity of Bitcoin's original intention, but it's not realistic. BTC would still be sub $30 USD if people were buying it exclusively to use as a currency, and it would probably stay there forever. It gets to establish itself as a sovereign currency only after it goes through a phase wherein people establish its value by backing it with their own fiat, whether for investment or speculation or a use as currency.
An unestablished crypto currency will simply not gain the consideration of the population-at-large without going through such a process at this stage in history. The reason is because this is the first time in history there has been a crypto currency. People don't know or understand what it is or how it works, why it isn't a scam, or why it isn't a scheme. People are used to dealing with fiat or metals. Fiat and gold were/are only worth something because people vested value in them, and that too, took a process. It's just that the process is a hundred or a thousand or more years behind us.
With cryptos, that process is unfolding while we sit here typing to each other.
May 10, 2013, 09:59:47 AM
Just a cautious note... if you remember:
When the prices reached 97 earlier this week and bounced back up to 103 and then within seconds to 107
Remember, if you are wanting to sell at 125 or 130...it will be for a few seconds. So dont be greedy!
I wonder how dumb can some one be buying BTC at 120!
When the prices reached 97 earlier this week and bounced back up to 103 and then within seconds to 107
Remember, if you are wanting to sell at 125 or 130...it will be for a few seconds. So dont be greedy!
I wonder how dumb can some one be buying BTC at 120!
May 10, 2013, 09:57:24 AM
May 10, 2013, 09:56:33 AM
i have started my dump
just did 200
just did 200
May 10, 2013, 09:54:05 AM
Asia knows how to do things right. Most airlines in Asia have a policy where flight attendants are 26 years old or younger. Once you hit 27, GTFO of view and go sit behind a desk. Here we're stuck with 50 year old hags who are constantly pissed off.
I think it is more about the attitude than age. Both here in Haikko Manor and in American Airlines, some of the female staff are over 60 years old, and service is like in heaven. They know what they do, and do not get pissed off no matter how busy you are. I think the balance needs to be there, I would personally not be happy if everyone was younger than me - if nothing else, that reminds me of my mortality.
+10
May 10, 2013, 09:51:47 AM
Does anyone else see the possibility of a reversal of the uptrend? It was stopped at $122. It took 15K BTC to bust walls and take asks on the way up. Could that hot money be forced to take profit quickly?
I don't think so. The bid wall has lagged a little since the push to $122. But $115-$120 is pretty solid.
$122 to $125 is 12k BTC. Unless some new money starts making up for lost time, we'll probably bounce around $118-$121 for a bit. We'll see some dumping for sure, but there's enough buying pressure to keep us above $115.
The ask wall doesn't seem to be getting out of the way at any point so far, it will be a lot of little jumps, regrouping, let the bids come forward then it's up again. If the rally continues it will be slower, that jump was 2 days of no action crammed into 3 hours.
If I was selling between $122-$130 right now, I'd be content to wait for the bulls to pay me off. I'd be surprised to see a lot of panic selling, we're more lilkey to pickup some bears to buy up any dumps. Any drop right now is a chance for someone to get back in.
I deleted that post soon after I made it, realizing that if the rally stopped at $122, then the most likely successor pattern is what you said. Thanks for the insight.
May 10, 2013, 09:48:45 AM
I had no fiat, so it was one or the other, and I have done terribly trading.
So I will have a shiny 3x HD7970 rig, churning out 2GH/s - and my ASIC will eventually arrive, so I'll do ok in the long run.
So I will have a shiny 3x HD7970 rig, churning out 2GH/s - and my ASIC will eventually arrive, so I'll do ok in the long run.
I wouldn't be so sure about that, the total hashrate and difficulty will go up so fast will all these new ASIC's hitting the market that you will feel forced to invest more and more into mining equipment. It's a king of the hill battle with a neverending slope upwards and no top. Good luck with that, only the ones somewhere high up the hill will be able to make a good profit.
There were people back in 2011 saying mining was a waste, it was too late, you'd make more buying BTC. Mining is still quite profitable. I wouldn't hesitate to get into mining, it's not quite as insanely profitable as it used to be, but you'll make money. GPU I'd only do a few rigs that you can use as gaming rigs, the rest into ASIC. Plus it's fun and the more miners the better for the network (more decentralized, which is good).
The 7970s are fine cards, easy to resell if he can get more ASICs down the road.
That's why I am getting them. I will sell 2 of the 7970's when my first ASIC is shipped, then I will buy a 50GH/s ASIC, and just run that.
It will be good for a while, and I should have made enough to break even, with sufficient stored to get the upgrade when they are built - especially if the BTC keeps going up in value.
May 10, 2013, 09:44:52 AM
Does anyone else see the possibility of a reversal of the uptrend? It was stopped at $122. It took 15K BTC to bust walls and take asks on the way up. Could that hot money be forced to take profit quickly?
I don't think so. The bid wall has lagged a little since the push to $122. But $115-$120 is pretty solid.
$122 to $125 is 12k BTC. Unless some new money starts making up for lost time, we'll probably bounce around $118-$121 for a bit. We'll see some dumping for sure, but there's enough buying pressure to keep us above $115.
The ask wall doesn't seem to be getting out of the way at any point so far, it will be a lot of little jumps, regrouping, let the bids come forward then it's up again. If the rally continues it will be slower, that jump was 2 days of no action crammed into 3 hours.
If I was selling between $122-$130 right now, I'd be content to wait for the bulls to pay me off. I'd be surprised to see a lot of panic selling, we're more lilkey to pickup some bears to buy up any dumps. Any drop right now is a chance for someone to get back in.
May 10, 2013, 09:40:52 AM
In reality right now you can buy at any price, including the bubble high, and not be wrong. It's just that you may have to hold your coins for several months or a year before you can realize your equity.
It used to be the majority in this forum were here to buy, mine and use this new currency called bitcoin. It seems there's more and more people around who see this as some sort of a penny stock.
Sell your USD for real money and keep/use that real money is the game, not "realizing equity" at some point.
If you disagree, you should really think about what money is (or should be)
May 10, 2013, 09:37:05 AM
Bitcoin's fundamental protocol is really good and really sound. The problems Bitcoin has had revolve around shitty businesses/scammers. Once BTC starts to get supported by more companies like Coinbase/Bitpay we'll see $1000USD/BTC np and the trading scale will switch to mBTC right away.
Only way Bitcoin fails is if governments seriously saboteur it by preventing banks from processing fiat transactions in relation to it, but the gamble is that once the establishment tries to assault Bitcoin, the counter force and backlash will serve to propel Bitcoin to the level of a household name and away we go.
We're sitting in the long-term bear trap of Bitcoin right now, that time where everyone is unclear if they should get on the boat and where everyone is unclear if Bitcoin will succeed or fail. Once a positive outcome becomes obvious, the opportunity to get in profitably will be lost.
In reality right now you can buy at any price, including the bubble high, and not be wrong. It's just that you may have to hold your coins for several months or a year before you can realize your equity.
Only way Bitcoin fails is if governments seriously saboteur it by preventing banks from processing fiat transactions in relation to it, but the gamble is that once the establishment tries to assault Bitcoin, the counter force and backlash will serve to propel Bitcoin to the level of a household name and away we go.
We're sitting in the long-term bear trap of Bitcoin right now, that time where everyone is unclear if they should get on the boat and where everyone is unclear if Bitcoin will succeed or fail. Once a positive outcome becomes obvious, the opportunity to get in profitably will be lost.
In reality right now you can buy at any price, including the bubble high, and not be wrong. It's just that you may have to hold your coins for several months or a year before you can realize your equity.
May 10, 2013, 09:35:27 AM
due to low volume I hope you guys don't mind a crosspost from here: https://bitcointalksearch.org/topic/m.2084624
to enter a bear market we need a lower low. Depending on timeframe there are 2 potential lows to break:
if we don't make a new low below $80, it's not a bear market but a correction (by investopedia definitions quoted further above). We could then enter a bull market or at least further consolodation pattern (green). Of course there's different options for "green", I just outlined roughly one of them. A break of the $170 top would clearly mean we're in a bull market again (both higher highs and higher lows would've been reached then)
I don't think we have to wait more than a month to see this resolved.
to enter a bear market we need a lower low. Depending on timeframe there are 2 potential lows to break:
- the $80 low on 5/3 (red)
- the $50 low on 4/16 (yellow)
if we don't make a new low below $80, it's not a bear market but a correction (by investopedia definitions quoted further above). We could then enter a bull market or at least further consolodation pattern (green). Of course there's different options for "green", I just outlined roughly one of them. A break of the $170 top would clearly mean we're in a bull market again (both higher highs and higher lows would've been reached then)
I don't think we have to wait more than a month to see this resolved.
Hat tip to molecular. Green arrow scenario underway...
haha. that wasn't a prediction (except that I said I favored green scenario). If we include your grey scenario (sideways for a while in white area in my pic), what I layed out pretty much covered all possibilities. Easy to be correct then.
Although I prepared for a drop I must admit I'm pretty relieved we broke upwards. Initially (couple days ago) I had been quite certain move would be up, but had increasingly become worried about the possibilities red/yellow. Probably have been reading too many bear threads... really gets to you after a while.
Let's see how much momentum this has... who knows, maybe it's a bull-trap.
May 10, 2013, 09:28:48 AM
I'm a bear in denial.
There is nothing worse then a bear sitting on the sidelines, pockets full of fiat, feeling lonely because everyone left him behind.
Good news is, there's no shame in buying in, long term looks fantastic, a little bumpy in the short term, but there are enough cool gifs in this thread to keep you happy (and a few charts with lines n shit).
If the gubmint fiat in one's pocket is burning a hole, I highly recommend dollar cost averaging. Ideally, on a weekly basis for at least 3 months. 6-12 month duration would probably be better. Much lower risk, and great returns. Unless of course bitcoin fails =)
I wonder if bitcoin is at the "too big to fail" stage yet....or how far away are we. Guess depends on your definition of fail maybe..
May 10, 2013, 09:20:21 AM
I'm a bear in denial.
There is nothing worse then a bear sitting on the sidelines, pockets full of fiat, feeling lonely because everyone left him behind.
Good news is, there's no shame in buying in, long term looks fantastic, a little bumpy in the short term, but there are enough cool gifs in this thread to keep you happy (and a few charts with lines n shit).
Gosh, this post really made my day
May 10, 2013, 09:19:02 AM
I'm a bear in denial.
There is nothing worse then a bear sitting on the sidelines, pockets full of fiat, feeling lonely because everyone left him behind.
Good news is, there's no shame in buying in, long term looks fantastic, a little bumpy in the short term, but there are enough cool gifs in this thread to keep you happy (and a few charts with lines n shit).
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