Bitcoins are officially donkdown

:bye

Bitstamp showing 394.

Some daytrading going on? Bouncing around quite a bit.

$396 on Coinbase.

I just turned on the rerun of radio, and I heard myself saying, "In several years, we will look back on bitcoin investors the same way we look at 2000-era dotcom investors today."

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Originally Posted by simpdog

Bitstamp showing 394.

Some daytrading going on? Bouncing around quite a bit.

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yeah all the chemtrails are really interfering with the blockchain flux capacitors today.

440

$495 suckasssss

Hopefully one day I will wake up and i'll be millionaire.

Knowing how Druff loves a win no matter how small, I can't stop laughing about the $50 I shipped to Druff to settle my Sizzle Cueto bet.

I felt so bad using Bitcoin. He even called me out on it. I included a $2 premium to cover any variance.

That $52 is now $78.64.

Somebody just wet himself.

Edit: remember the Feds are unloading 44,000 Bitcoin tomorrow. Should be fun.

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Originally Posted by Sanlmar

Knowing how Druff loves a win no matter how small, I can't stop laughing about the $50 I shipped to Druff to settle my Sizzle Cueto bet.

I felt so bad using Bitcoin. He even called me out on it. I included a $2 premium to cover any variance.

That $52 is now $78.64.

Somebody just wet himself.

Edit: remember the Feds are unloading 44,000 Bitcoin tomorrow. Should be fun.

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But not directly onto an exchange tomorrow. They will be a private auction of the Bitcoin in mostly 2000 unit bundles. Ans bidders won't know if they have win until the next day. And then more time for the transactions to take place. And this auction has been known to occur for some time, which probably means the expected price effect of this additional supply is already reflected in exchange prices. So, it's not clear how this auction will affect the exchange prices.

http://techcrunch.com/2015/10/05/us-.../#.1abyk7:srFm

hit 495 then plummeted quick down to 460

Why don't the brick and mortar casinos in Macau accept Bitcoin from the whales? Take a page from online. Caesars ain't that quick obv.

I can visualize a scenario where instead of the Chinese using the UnionPay credit card end run of the Chinese $3200 limit - they are using Bitcoin. This lit the fuse.

So the chinese juice the Bitcoin price with gambling funds then being the gamblers they see the run up and bid it up more.

Except the gambling funds go to cash on the other side.

The Portugese press is aware of the Bitcoin phenomenon and report the installation of Bitcoin ATM's in the very pawn shops that were running the UnionPay credit card game.

All leads to a crackdown by Chinese government on the Exchanges like OKCoin.

Just wasted 15 minutes thinking about Bitcoin.

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Originally Posted by Sanlmar

Why don't the brick and mortar casinos in Macau accept Bitcoin from the whales?

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I'm not even sure which reason to list first.

Thread: A Message from Dustin "neverwin" Woolf 07-10-2015, 12:55 PM

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Originally Posted by Dan Druff

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Originally Posted by neverwin

My Final Warning: Last Chance: Say Goodnight to Cheap Bitcoins:

Hello internet voyeurs, gossip addicts, information seekers, and curious minded killers of time, if you happen to stumble across this message it might mean your life has been "perfectly" or "purposely" positioned with some sort of possibility that could drastically change the trajectory of your current path. Of course most will continue on exactly the same as before reading this message. But for those that feel a spark when they hear the word BITCOIN I have a little story to share with you....

Back in March I made a prediction about the price of Bitcoin and for those that listened your patience is finally being rewarded. Everything I have said before still stands. I was likely a few months too soon when calling a bitcoin surge back in March. The ones who doubted then, likely are still doubting today, but that is all about to change. The majority of skeptics simply do not understand the entirety of this technology or have fooled themselves because of some other biased conflicting interest. Bitcoin's potential and its significance lie far beyond the FinTech industry, and this disruptive technology is about to burst another bubble. This one will be number 4 that I have witnessed. Let's quickly take a look at that history...

The first time I heard of bitcoin was back in 2011 when bitcoin was less than 5 dollars, and boom it shot up to 30 bucks and then for another year or so it went back to 5 dollars. Of course back then I laughed about bitcoin becoming worth anything more than a few bucks back then and simply ignored it.

It wasn't until the beginning of 2013 that it captured my interest again. I started taking it a little more seriously when I watched the price had broken through 30 bucks about a week earlier and was now heading up to 100, and boom within a week hit 260 and a week later back down under 100 and again stayed there for a good 6 months. But this time I started learning about bitcoin. And 6 months later bitcoin starting climbing faster and faster towards the 260 mark and bam within a few weeks after it broke 260, we were looking at 1000 to 1200 dollar bitcoins. This was almost 2 years ago when it went from 100 to 1200 in short order. Since then it has been a slow bleed back all the way down to under 200 a coin again.

So bubble number 1 saw btc take off from $5 to $30. Number 2 from $30 to $266, and then $266 to $1200. I understand it would need to get past $1200 for the same comparisons to be made. The price is just something we can look at to measure and keep score. Whether you have or haven't looked at what this Bitcoin thing is all about, maybe it is time to look a little more closely....stay tuned.....

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Moderately prescient...Oracale-ish?:



...or Broken Watch Analogy...

we've seen china pump up the market before, and every single time it eventually crashes.

a market shift predicated on regulatory/policy movement is a bankable. a market built on chinese citizens trying to insulate wealth against the whimsy of the yuan is not.


and the 20% market crash in the last 45 minutes should be the more than suitable evidence of this.

aaaaaand boom goes the self corrective dynamite.

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Originally Posted by Forum Wars

Thread: A Message from Dustin "neverwin" Woolf 07-10-2015, 12:55 PM


Moderately prescient...Oracale-ish?:



...or Broken Watch Analogy...

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Dustin came back to Facebook 2 days ago to take credit for being right, and stated that the Bitcoin revolution was beginning.

We will see if it even manages to stabilize higher than where it was pre-runup.

these are seriously the craziest fucking swings ive ever seen.

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Originally Posted by sonatine

these are seriously the craziest fucking swings ive ever seen.

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If you accept the Chinese are the driving force, at least initially and you remember OKCoin and the other shady exchanges in China - the void left by Karpeles could soon be filled.

I mean, you Google OkCoin & Fraud and you just get too exhausted to look further.

How is Dogecoin doing?

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Originally Posted by DRK Star

How is Dogecoin doing?

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:knife

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Originally Posted by Starbucks Spunk Bucket

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Online version:

http://www.ft.com/intl/cms/s/2/ee93b...#axzz3qd8mItjB

https://www.youtube.com/watch?v=mKIdZkuCcbs


hotlanta yall. stealing a bitcoin atm is pretty much the most world star thing ive ever seen.

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Originally Posted by sonatine

https://www.youtube.com/watch?v=mKIdZkuCcbs


hotlanta yall. stealing a bitcoin atm is pretty much the most world star thing ive ever seen.

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wait....does that machine dispense and/or receive in anything "physical"?

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Originally Posted by RegGaymer

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Originally Posted by Dan Druff

They probably wont be popping that cork until it gets to at least 600, which it won't.

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Can someone give us cliffs why Bitcoin won't go higher than $600?

If it was going to outright flop and bust after the big downswing, then surely it wouldn't be stabilising and gradually increasing like it has been doing for months now.

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Nice bounce off $330. I'll give it that.

$317 on coinbase

china on suicide watch

It's about to drop under $300.

itBit bought 5 blocks on auction today and have already lost $800k on that investment.

Well, "good" news for bitcoin enthusiasts.

After BTC falling to $295, some genius speculators "realized" that a lot of money can be made by buying it just after it slips under the psychological $300 barrier, pushing the price back up to $314 -- a mere 37% devaluation from its $499 peak last week.

 

No, but seriously, it seems to be headed back down to the $225 range where it was in the first place, again keeping up the 18-month streak of never stabilizing higher than where it was before.

I have officially joined the non-believers. Sonatine, Druff, you were right all along.

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Originally Posted by Starbucks Spunk Bucket

I have officially joined the non-believers. Sonatine, Druff, you were right all along.

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Still hasn't gone to $0. I'm not saying Bitcoin won't go to $200, or even $100, but the Big S and Druff are saying that Bitcoin should become worthless any time soon. And that prediction precludes that Bitcoin has no appreciable value for folks in more economically repressed countries as a means to circumvent the local laws. And last I heard, governments aren't so capable of completely quashing illegal activity.

Big selling volume weighing BTc toward $300.

Feels oversold already. It's got work to do before we lose $300 imo.

$298.

Oh, the humanity

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Originally Posted by Sanlmar

Big selling volume weighing BTc toward $300.

Feels oversold already. It's got work to do before we lose $300 imo.

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A big issue I see with Bitcoin is the lack of substantial Bitcoin derivatives markets. There's this forward market, but trading is thin, and the longest term forward is 4 weeks.
https://www.cryptofacilities.com

By comparison, forwards on EUR/USD are traded out as far as a year.

Lots of big buys got booked at 300, price popped to 302 and now its flatlining again before its inevitable deflation.

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Originally Posted by Sanlmar

Feels oversold already. It's got work to do before we lose $300 imo.

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Well we had the dead cat bounce after the bubble. If I gave a shit, it woulda been a good trade.

If you look at the charts on bitcoinwisdom.com, or whatever you care to use, you will see a flag pattern forming in all time frames - say 2hr to daily. A narrowing or convergence in trading price range. Volume confirms too.

Eventually the price will break out one way or another. Sadly, this dog will break bad as a result of the context of the ugly multi year pattern & dead cat retracement. You want the Fibonacci numbers - I'll post that too.

All I care about is this thing maintaining some fucking stability through Monday on the off chance that I have any online cash left. I sure as shit don't want to receive Bitcoin in a downtrend.

Yup, $332 at time of my last post. Tumbled out of that flag pattern to $315 & recovered a bit to $322.

It's now broken for a while. We will see tonight.

Not even reliable for criminal activity.

I agree that this is a dead cat bounce.

I don't think it's sustainable at $325 or whatever.

The whole run-up from $225 has been artificial, even by bitcoin standards.

I think people are believing the $300+ level is the new normal, but I believe reality will set in soon enough.

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Originally Posted by Dan Druff

I agree that this is a dead cat bounce.

I don't think it's sustainable at $325 or whatever.

The whole run-up from $225 has been artificial, even by bitcoin standards.

I think people are believing the $300+ level is the new normal, but I believe reality will set in soon enough.

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Have you considered trying to profit from this bearish prediction by shorting forward contracts? This company apparently goes out as far as 4 weeks.

https://www.cryptofacilities.com/derivatives/signup