Plenty of buy orders in the queue, should trade sideways or marginally increase over the next two hours.
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Plenty of buy orders in the queue, should trade sideways or marginally increase over the next two hours.
Quote:
Originally Posted by Sanlmar
dont forget that paypal is going to go live with btc integration soon, which is going to blow shit up.
There are still a fair number of people who bought this thing over $900.
They are hurtin.
Quote:
Originally Posted by DirtyBI would have to read Chinese to know for sure, but from the way I read your linked page- that's still completely cool. What the government forbade was the banks themselves from owning bitcoins as reserve holdings, the way they hold Euros or Dollars. I don't think it would make a ton of sense for them to do that anyway, since the amount of money involved just isn't large enough.Quote:
Originally Posted by sonatine
maybe youre confusing the physics of economy with the psychology of crypto currency investment. they share a sliver on the vend diagram but really, look what we are talking about here.
gox is getting its silly shit pushed in.
It really needs to close below $1000 to ruin what has been a remarkable chart.
Wonder what happens when the US logs in this morning.... I cannot imagine there will be serious buyers here.
The big boys may play games though
Volume has dropped right off, and again the sell orders are double the buy... about to drop again I reckon.Quote:
Originally Posted by Sanlmar
Inverted W guys? Looks ominous
Yup, just broke
Fell off the cliff. Wish you could trade this like a legitimate security on Tradestation
I've been buying and selling most of the day. Just some coins I personally mined. :)Quote:
Originally Posted by Sanlmar
I'm still pissed off I sold 1/2 my coins right after SR was closed. Have been riding the waves and nearly have them all back. :)
Ron Paul-Bitcoin could destroy the dollar
http://money.cnn.com/2013/12/04/tech...n-libertarian/
The Chinese don't trust their own government, which is one reason
that this ban by their government will have no effect.
:kermit
Ron Paul has been predicting hyperinflation for the past 25 years- the period of the lowest inflation in US history.Quote:
Originally Posted by TheXFactor
Now they're up 17%.Quote:
Originally Posted by Sanlmar
things look depressingly stable.
Yup, very healthy inter day pattern. Just broke out to upside.Quote:
Originally Posted by sonatine
Much regret that I did not sell below $900. I have had two opportunities recently and decided to let the short run.
I expected even more capitulation given my feeling that this is nothing but a pure speculative bubble. It's recovery both times has caused me to think there actually may be some fundamental basis for these price levels.
I am a pattern trader. I trade what I see. I don't try to be the smart guy with all kinds of fundamental research and opinions. I am not the smartest guy in the room and no trader is privy to all the real information anyway. The truth is revealed in the price.
The price action is more than just bubble speculation inmo.
This is disappointing.
$1100 is new support. It wants to test $1200.
My short is from $1180. 5 BTC left.
I will buy to cover at $1090 if I am lucky. I will also buy to cover at $1190.
This thing is acting pretty strong. I feel like I am getting shaken out of my short but I will live to fight another day.
I'm out at $1083Quote:
Originally Posted by Sanlmar
11/28 Short 10 BTC $1180
12/2 Buy to cover 5 @ $952 +$228 x 5 = $1140
12/5. Buy to cover 5 @ $1083. +$97 x 5. = $485
I'm done with this.
dropping quick
now in the low 900's
What were the costs for shorting?Quote:
Originally Posted by SanlmarI'm out at $1083Quote:
Originally Posted by Sanlmar
11/28 Short 10 BTC $1180
12/2 Buy to cover 5 @ $952 +$228 x 5 = $1140
12/5. Buy to cover 5 @ $1083. +$97 x 5. = $485
I'm done with this.
Nice hit. Wait and rinse/repeat.
BTC being pummelled at the moment.
The coin going for a wild ride today it's at $877 atm.
I bought 2.548 ish coins back when they were a little under $100 ($250 total). I sold off the .5 whatever a while back at $1100 (about $600) each and kept the 2.0 coins. Im hoping im not wishing i had dumped the rest.Quote:
Originally Posted by BeerAndPoker
Bitfinex allows users to borrow coins at an interest rate from their owners. You negotiate the interest rate with the owner. I was lucky enough (LOL) to get 32% from someone - but I did this at the market top with market rising.Quote:
Originally Posted by simpdogWhat were the costs for shorting?Quote:
Originally Posted by Sanlmar
Nice hit. Wait and rinse/repeat.
I spilled all kinds of chips on the floor, it turns out. But I couldn't wallow around long term with that kind of juice. Now, I cannot even fathom what people are charging.
One more day woulda been +$1000 here. FML
Info from another board I am on.
The Exchanges:
cryptsy.com
mtgox.com < Don't use them. Their lag and inability to handle DDoS/Traffic has been disastrous
btc-e.com
vircurex.com
CampBX.com < Best site to deposit DWOLLA funds into
bitfloor.com
coinbase.com < Another good way to get money in the system
Current trading Charts:
http://bitcoincharts.com/markets/
http://bitcoin.clarkmoody.com/
The Wiki:
https://en.bitcoin.it/wiki/Main_Page
How to Mine:
http://cryptojunky.com/blog/2013/03/...tecoin-mining/
Current real world vendors:
https://bitcoin.it/wiki/trade
-----------------------------------
So I've been learning a lot more about BTC's other uses other than currency. The ledgering system in BTC is pretty nifty, you can learn more here:
http://internetganesha.wordpress.com...coin-protocol/
This is where I think the real value in BTC lies once people start creating services using the BTC protocol.
This stuff truly is next level, whether you care about the investing in BTC or not.
----------------------------------
Guys
I would like to discuss seriously what happened with the China ruling yesterday. People all over Reddit are fluffing how it was a good thing, etc.. but I am still getting my head around it.
My quick initial thoughts/questions.
China declared it illegal for financial institutions: banks, and payment processors, etc. to exchange legal tender for Bitcoins, but the general public is free to invest there own funds, however..
Does it mean that goods and services businesses(small businesses) cannot freely exchange their coins for Yuan like they could before? (Either brick and mortar or website owners)
I would really like clarity here.
For great global bitcoin traction to take off (imo), it is necessary for business to accept bitcoin payments all over the world.
If this new ruling discourages that for small business owners in China, it is a step back imo for the small business owner in China.
FOX Business channel just teased something abt btc and Tesla
so a few hours ago gox crashed and started looping this weird 825-870 btc price cycle, and within an hour the market value of btc dropped 15%.
per Fox Biz Tesla sold car for bitcoins and now setup to accept btc on purchases.
Quote:
Blockchain.info @blockchain 25m
@rogerkver will be discussing Bitcoin live on Bloomberg TV today at about 4PM EST! http://www.bloomberg.com/tv/
Retweeted by Bryan Micon
DRK
If you think BTC is the next AAPL because it addresses a market need and has nifty proprietary technology that's one thing. If you're investing for your children's legacy that's great too.
Something like Bitcoin will be in our future. First often doesn't survive. The Altair 8800 PC was a personal computer that was first and landmark in many ways. Altair is just a wiki entry now. Micon actually summed up the need in a great rant in an interview that BetCheckBet posted on page 15.
We aren't curing cancer here. Just trying to nick some quick cash. This is a speculative bubble. Look at the chart. This ain't Warren Buffet's Berkshire Hathaway your investing in.
I was only peripherally aware of the China thing. Http://bitcoin.clarkmoody.com will tell you all you need to know about how important the China decision was to Bitcoin.
First, I sense some of the guys here are savvy daytraders and I find that really interesting but not totally surprising. . It lends itself to a certain personality type that would join a forum like this. Sports betting & poker - working for an edge in marginal situations, probability, ability to grind long sessions in front of the screen. Ferguson & Laak spring to mind when thinking of ex traders who play poker. Just read Cada loved trading.
I am not being condescending with the following suggestion. *I hope I turn someone on to something I truly love doing.
Study candlestick charting and pattern trading.. Pay for a trading group to share ideas real time. I used to pay for "Reality Trader" years ago. Vad Graifer is a trading savant. I have used others and often many at a time all parked on a separate monitor.
Go for the gold and get your Series 7 and become a prop trader - it's like getting staked as a poker player.
I would love to know who is grinding on TradeStation or has thought of it. I got a hunch Sonatine or DirtyB trade.
But back to Bitcoin. Just try to feel the fear people now have at losing their money. Especially the noobs who read about it on chat. Game that against guys like the Winkelvii who want to fuck you and grow their own investment. The swings are really nice here, and if you want to go long the vig to buy and sell a Bitcoin is quite small.
Just ranting cause I covered a day too soon and I'm bored.
Micon's rant from article
"The traditional banking and transaction system never made any sense to me. To this day I try to research, and when you read this you should give it a try yourself, why there is a two- to three day hold every time you deposit a check. Just try to figure that out, why in the world would that have to take that long? Why can’t you not deposit a check on a Sunday at 9:00 PM? Why can that not happen? It never made sense to me, and it gets even crazier when you look at all the fees. Why does a business, located in the US, wanting to accept credit cards, have to pay 2, 3 and sometimes even an outrageous 7% on their transactions? On top of that, there aren’t a lot of options either for those businesses and I think it’s killing them. The system of fees is eating up the economy. The average asshole, at least in America, walks around has his bullshit job and gets eaten up by fees every single time he’s using an electronic method of payment,” Micon started a rant about the current system.
Be careful guys....regulators here and elsewhere (for sure China) are focusing on this now......legal and other issues include whether it is a security or currency or something else but there are folks bragging about pump and dump schemes and the dollar amounts now are definitely getting the regulators attention......this will not end well so dont be the last one turning the lights out......sample piece was up for a bit today on Dealbook and picked up by the Journal.....
Quote:
Originally Posted by Hurdleking
simmer down nerd.
also in case no one noticed bitcoin shed 20% of their volume today HUEueUEHuEHUEHUEHUEhEUEHUe
I mucked a full house. FML
People are leaping off the Great Wall of China. There's prolly a line of people waiting.
About to crack below 700. As I said before I expect it to stabalize no higher than 500 (within the next few weeks). Growth in last month has been completely ridiculous. If bitcoin manages to hold at 400 by January it will be a huge victory still (insane return since start of year).Quote:
Originally Posted by Sanlmar
even tho im absolutely 100% losing money on this debacle, its amusing enough not to mind.
getting hit hard again-$700
It is fun watching the sales on http://bitcoin.clarkmoody.com/
Literally within a minute span some sales go through +/- 5%
There are definitely some people throwing around large amounts of money too.