sitting at 300 at the moment
chart looks pretty awful
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sitting at 300 at the moment
chart looks pretty awful
Damn. The price has halved since July 24th.Quote:
Originally Posted by DRK Star
manipulation before the holidays?
load up boys, get in at the $300 level and enjoy the ride up to $1,450!
I thought it would have taken longer for Druff to have lost 1/3 of his investment.
At least the joke is on those lucky few who took their freeroll payments in bitcoin. Moderated my loss a bit.Quote:
Originally Posted by zealanddonk
Bitcoin $386 on Bitstamp. Up on volume that equals or exceeds the drop on the 4th & 5th.
$100 bounce off lows.
The 30,000 BTC sale at $300 defied comprehension. Why would anyone park such a huge order like that? Why would anyone sell in such a stupid fashion? Who was it?
Like a dope I began reading and adopted the article about the Chinese exchanges. Why would the 3 Chinese exchanges trade for no fee? They came online recently and now you see this shit. I was kind of busy so I moved on.
That's what you get for thinking and not just watching the chart.
I still feel like this is massive ballsy manipulation but I wanna be in on the fix too.
Blah, blah, blah about massive shorts on Bitfinix etc getting squeezed.
The juice is back kids. Bitcoin is fun again!
Here is a good partial explanation as to what was going on with the price drop.
http://www.cnbc.com/id/102070437 "Bitcoin 'BearWhale' rattles cryptocurrency world"
On a related note. I recently discovered a great way to help support the tor network.
https://oniontip.com
COOL STORY, OFFICER.
Bitcoins still exist? I guess as long as guys like Micon are around, they will never die.
http://i.imgur.com/FYLULbz.png
i mean, honestly
Quote:
Originally Posted by sonatine
Didn't you sell the rights to your porn name "Brent Crude"?
That whole deal about lube jobs and backdoor maintenance.
Now Brent is trying to get Buttcoins started.
Not to be out-failed by some young buck virtual currency, the Ruble has plunged the last two days and is now down 55% on the year. This is despite the Russian central bank cranking interest rates up to 17% and spending $80B.Quote:
Originally Posted by sonatine
http://www.bloomberg.com/news/2014-1...7-percent.html
What are your international credentials outside of reading Huffington Post?Quote:
Originally Posted by DirtyBNot to be out-failed by some young buck virtual currency, the Ruble has plunged the last two days and is now down 55% on the year. This is despite the Russian central bank cranking interest rates up to 17% and spending $80B.Quote:
Originally Posted by sonatine
http://www.bloomberg.com/news/2014-1...7-percent.html
Price dropped $25 more to $330 since I went to lunch.
Yeah I was just about to post that bitcoin has been stable lately, and then a drop to 330.
I might actually buy in if it falls under 300.
With the oil crisis bringing Russia close to bankruptcy ... Run on banks, ruble cratering all day today...
Be interesting to watch Bitcoin. Flight to Bitcoin safety, lol.
Over the last 3 days, Russians have flocked to stores to buy jewelry, furniture, and anything else that might hold its value better than the Rubles in their bank accounts. It's pretty obvious from the chart that they're not flocking into bitcoin.Quote:
Originally Posted by Sanlmar
The chart below is BTC-e the Bulgarian exchange that offers Russian language option.Quote:
Originally Posted by DirtyBOver the last 3 days, Russians have flocked to stores to buy jewelry, furniture, and anything else that might hold its value better than the Rubles in their bank accounts. It's pretty obvious from the chart that they're not flocking into bitcoin.Quote:
Originally Posted by Sanlmar
Chart shows Russian trading volume is spiking. the green & red columns are the volume.
I am watching Bitcoin to see if it hits $300. More important though is HOW it gets there. Something doesn't feel right here. It feel like a trap somehow. Everybody will see the same thing and have the same reaction.
The crowd is usually wrong.
Ok. But if it's not enough to impact the overall price, then who cares?Quote:
Originally Posted by Sanlmar
I was just joking about Russians fleeing to Bitcoin. They still lost.Quote:
Originally Posted by DirtyBOk. But if it's not enough to impact the overall price, then who cares?Quote:
Originally Posted by Sanlmar
It's just interesting. It's like the Cyprus crisis.
Obviously, somebody was happy to sell more than enough Bitcoin at these prices. That's part of why I feel $300 might be a trap.
Just watching.
Fuck. Looks like I will have to make up my mind sooner than later.
Big red volume. 4 red daily candles are begging for a little recovery/retracement. If it hits $300 now I am in cause it is too extended to downside and is ripe to bounce.
I don't think we will see it though.
But I am the same guy who thought Amaya was a good idea.
fyi the chinese exchanges are fucking everything once through the heart and twice in the back of the head.
Whatcha got?Quote:
Originally Posted by sonatine
Something feels wrong... But I love my charts and hate reading the news. I come to the same conclusions everyone else does & as I said, the crowd always loses.
Edit: You talking about the scammers at OK? We've posted about this before.
nope, there is an absolutely massive amount of dumping taking place on the chinese exchanges, is word on the street, and its trashing the market.
you know, more than usual.
Quote:
Originally Posted by sonatine
Im really wondering if this was related to the Sony breach...
At first I assumed it was taking place because of that 'bitcoins are the worst investment ever' article but now I wonder.
Ha! Koreans, Mongol hordes and other angry Asians.Quote:
Originally Posted by sonatineQuote:
Originally Posted by sonatine
Im really wondering if this was related to the Sony breach...
At first I assumed it was taking place because of that 'bitcoins are the worst investment ever' article but now I wonder.
I think some component involves the proposed Virtual Currenty (sometimes referred to as BitLicense) legislation in NY.
Please note the location of the nearest exits ...
I think this is a clip from Joe Rogan.
Leah McGrath Goodman's Bitcoin creator thanks people for donating to him with Bitcoin. Guess he got what was at one time Bitcoins valued at $23k.
Prolly worth a lot less now and if we drill $310 it'll be closer to worthless as next stop prolly $250 sooner than later.
He's together with the block chain guy who looks like he knows it's all but over.
http://youtu.be/w7YmJZ-qVW8
Setting aside schadenfreude, it must truly be horrible to have looked at ones pile of gold during the peak days and said "I've done it, I'm a millionaire..", then a few short months later ... poof. Back to the alarm clock, the cube, the fluorescent lights.
I'm a huge critic of bitcoin but unlikely anyone is in this situation yet. the guys who made a million at the peak still made hundreds of thousands which is a nice vacation. I can only imagine how much Micon has made not only through bitcoins but his other bitcoin companies.Quote:
Originally Posted by sonatine
Until bitcoin hits double digits we won't really see many sob stories. The worst is still far away and won't happen until the speculators flee. Even at 300 early adopters have received a 30x return from a few years ago. Anyone who was stupid enough to buy above 500 didn't deserve their money anyways (unless they were in short term in which case they got out anyways).
Micon always claimed he was never selling them. Someone else either claimed or speculated his wife must have forced him to sell some at the peak however.
Circling the Drain
Dec 26th
NC State Holds off UCF 34-27
I don't know how we missed this gem. According to the news, the two schools elected to take their money in cash. LOL. ESPN immediately converted to fiat avoiding a $20-40,000 loss as Bitcoin fell.
Even the Bowl game participant don't believe!!!
Apparently it's the 6 year anniversary to the day of the creation of the Genesis Block.. Today would be a good day for Bitcoin to die.
Well, it's happening. I mean right now bungholes are puckering. Been watching this for weeks. Too many relevant charts to post. Technically, it needs to fall to $250-260 That would put the gamble back for healthy speculation. We all know $300 is a pretty important level here. Some of the charts fail to show but $287 was quickly tested last October and really needs to be retested.
I am watching for a breach of $290 then maybe a quick short. Lotta folks are already short and it could bounce here and rip there faces off. It's a coin flip.
Personally, I have a hunch about the NY virtual currency legislation - but the news doesn't matter - the chart still sucks.
Sanlmar: What was that chart pattern you mentioned that was a very good short indicator? Double-top with the second top being lower than the first? You said something about having learned this pattern through hard experience..
Also, do you have any other favorite chart patterns that work well for you?
Dealing with a domestic disturbance... LolQuote:
Originally Posted by Benford
Got my iPhone here - no pc paint or charting
Quick answer.. Currently, I see a reverse cup & handle.
Cup = Start Nov 1 - Dec 19
Handle = Dec 19 - now
This will last a while at $300 so we have time. I will post some stuff later.
Ah, that's cool, look forward to reading more details whenever you're ready, thanks!Quote:
Originally Posted by Sanlmar;330990[/QUOTE
Here's a question that just occurred to me.
In light of the IRS rulings - I think you have to realize your capital gain or loss when you make a transaction (spend the Bitcoin). Your purchase price of BTC vs the value of BTC when you spent it.
Same is true for the business stupid enough to embrace this book keeping nightmare.
What could I do if I was Zappos or Overstock or Seals with Clubs?
Would I short $100,000 of BtC at start of year (just to have a big clean cost basis) and every purchase that year is a buy to cover?
What tax game might be in play right now?
Just found out by an older gentleman who works on the street. That j.p. morgan has had a patent on a digital currency since the late 90.s..he suggested that j.p. Morgan will unviel it as a world currency or an american currency when the dollar implodes beyond repair..he also said that in the short term it is possible to earn money on bitcoin but its a fraud and has no sustainability..JUST REPEATING WHAT HE SAID...I HAVE NOT DONE RESEARCH....YOUR!! WELCOME!!! Y,ALL!! You can stop picking on my spelling now.
This sounds like a rich opportunity for an entrepreneur to come up with a simple app that records the current dollar-denominated value of each transaction as they occur (gathering info from Coinbase, etc.).Quote:
Originally Posted by Sanlmar
As for the charting patterns I am not personally into Bitcoin, but other things....and your observation about the lower 2nd top on a double-top formation has been a strong short signal from my own experience as well. My interest is purely from a general technical analysis standpoint for any stock/commodity/currency trade.
Inverse cup & handle worked.
$294.50
If by some miracle we get swept down to $287 or so I'll buy for a trade. $300 could become mega resistance
The pain should be kicking in now