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Topic: Wall Observer - MtGoxUSD wall movement tracker - page 312. (Read 1811613 times)

legendary
Activity: 3388
Merit: 4775
diamond-handed zealot
sweet mother of fuck
legendary
Activity: 1792
Merit: 1111
Mr. Loaded is online  Grin
full member
Activity: 135
Merit: 113
whale eater
Haven't seen Loaded around for quite some time.

Took a small loss the last time I posted prior to a trade, although I am unsure how much that had to do it with the current rally.

However, since I no longer promise any prices prior to having funds in hand...

More fun times ahead.
legendary
Activity: 2156
Merit: 1072
Crypto is the separation of Power and State.
hero member
Activity: 518
Merit: 500
Things are kind of reaching a fever pitch here. Anyone else scared? Even a bit?

Yes, a bit. The forum is showing that giddy kind of euphoria with lots of swagger and bravado and posts about huge anticipated prices that once often sees at the top in a market.


This always get trotted out during gains. I've only been active on these forums for a short weeks (since ~$30-odd), but it seems that it's like clockwork: After every big gain, people get nervous and start calling out irrational exuberance.

However, it seems the real irrationality is usually always on the side of the bears.

Also, the forums aren't all of bitcoin.  We're actually a minority.
hero member
Activity: 533
Merit: 500
full member
Activity: 238
Merit: 100
RMBTB.com: The secure BTC:CNY exchange. 0% fee!
Things are kind of reaching a fever pitch here. Anyone else scared? Even a bit?

Yes, a bit. The forum is showing that giddy kind of euphoria with lots of swagger and bravado and posts about huge anticipated prices that once often sees at the top in a market.


This always gets trotted out during gains. I've only been active on these forums for a few short weeks (since ~$30-odd), but it seems that it's like clockwork: After every big gain, people get nervous and start calling out irrational exuberance.

However, it seems the real irrationality is usually always on the side of the bears.
hero member
Activity: 784
Merit: 1000
bitcoin hundred-aire
Bull 1: Where's proudhon in this picture?
Bull 2: Oh, right there maybe!  Enhance!
Bull 1: Don't see him.  Wait, I have an idea, let me zoom out!
Bull 2: Still no proudhon.
Bull 1: Wait hold on, zoom out a little more. Just a sec.
...
There he is!
Bull 2: I can't see him.
Bull 1: Right there, back at $8.  He sold everything at $8.  Ha!  We sure left him behind...
member
Activity: 73
Merit: 10
Things are kind of reaching a fever pitch here. Anyone else scared? Even a bit?

Yes, a bit. The forum is showing that giddy kind of euphoria with lots of swagger and bravado and posts about huge anticipated prices that once often sees at the top in a market.

However. Keep in mind this is just the forum. Which is the tiniest sliver of the world. Sentiment indicators tell you it's a top when the sentiment is at a max. But the vast majority of potential bitcoin buyers probably don't know it exists yet. So I wouldn't take the sentiment you see here as any kind of broad indicator. Just read the comments in the latest Zero Hedge article that might mention bitcoin. They are almost uniformly hostile towards it, and so complacent in their ignorance. And those are relatively well-informed people who should know better.

Here are a couple things I think give some perspective:

The Fed's open market operations are buying up ~$80B every month. New money into the monetary base. At the current price bitcoin's total value (valued at $100/coin) is about $1B (order of magnitude). So the fed is "spending" 80x bitcoin's market cap every single month. That's a lot of dollars looking for somewhere to go.

If the bitcoin were regarded as an equal asset class as gold, such that the value of all bitcoins had the same dollar value as all gold in existence, bitcoins would be worth ~ $1 million/coin. (based on ~$10 trillion being the value of all gold in existence, and the current ~10 million bitcoins).

member
Activity: 112
Merit: 10
hero member
Activity: 845
Merit: 609


Things are kind of reaching a fever pitch here. Anyone else scared? Even a bit?

Not at all.

This is exactly the same behaviour as when we breached $50.

The % gains aren't all that odd -- same as before. Only now the numbers are bigger.

BTC China is at 144 per BTC.
sr. member
Activity: 398
Merit: 250
Dude! +30% in 1.5 day?

full member
Activity: 224
Merit: 100
DigiByte Founder
full member
Activity: 238
Merit: 100
RMBTB.com: The secure BTC:CNY exchange. 0% fee!


Things are kind of reaching a fever pitch here. Anyone else scared? Even a bit?

Not at all.

This is exactly the same behaviour as when we breached $50.

The % gains aren't all that odd -- same as before. Only now the numbers are bigger.
full member
Activity: 224
Merit: 100
DigiByte Founder
hero member
Activity: 784
Merit: 1000
Haven't seen Loaded around for quite some time.
full member
Activity: 238
Merit: 100
RMBTB.com: The secure BTC:CNY exchange. 0% fee!
... just a normal Tuesday / Wednesday then!!
full member
Activity: 224
Merit: 100
DigiByte Founder
Gox lag can suck my balls!
full member
Activity: 224
Merit: 100
DigiByte Founder
sr. member
Activity: 398
Merit: 250
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