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i feel like youre onto an important truth here; bitcoin flats when there is no media coverage, and more often than not rises when there is some big news regardless of good or bad. exception being shit like the CN banks dumping it etc, seismic event. but the lack of real negative impact from shit like gox speaks tomes to how weird its real impetus is under the hood.
its basically a huge attention whore, is my point.
A truth that is more beautiful than even your ponies is this:Quote:
Originally Posted by sonatine
"Sometimes good news is good news and sometimes it's not."
Sometimes good news is bought and sometimes it's sold. Sometimes bad news is bought and sometimes it's sold.
Just a matter of public sentiment at the time. Those were greedy, heady times.
This is why I try to filter out the news as best I can.
I have a hunch that there aren't too many shorts either. It just feels like apathy and indifference.
Terror at the Bitcoin exchange.
Bitcoins are tumbling
$423 Lotta volume. Nasty slide on a percentage basis.
Pretty savage beating.
$400 seems inevitable.
If you were a government wonk do you dump the rest here?
Was reading yesterday about Russia considering banning
Is it back to slots for our friend?
The one minute chart shows someone dumping with 3 big sales, IMO.
1 day one minute chart
I am a freak about being as dark as possible.
I read stuff about the BTC ATM's a while ago requiring all kinds of personal data at point of sale.
FINGERPRINTS? Drivers license? gtfo
Is this true? I think someone here has used them.
I just grabbed this reddit experience quickly.
http://www.reddit.com/r/Bitcoin/comm...us_tonight_my/
Aint flat right now.. Price has dropped $60 in the past week current quotes on two markets I trade on are just above $400 the other at $413.. (same market was at 476 on 9/12/14).. Somebodys shorting it or driving it down by dumping I suspect... as Sanlmar noted some ugly 1min charts.. The market I quoted the $60 drop on.. nearly 1/2 of that was today... I scrolled back and it had been in the nearly 440 range 7 hrs ago.. One place I trade is in Belize and tends to have slightly higher prices while the lower price is quoted from market/broker in Estonia. (Sell price is at 399 just now in Estonia with Buy price at 406.. wide ass spread doesn't help and proves theres some legitimate volatility in the market)Quote:
Originally Posted by sonatine
If it drills $400 I may not be able to restrain myself. I don't think I'll see it though.
Random thought. Boston has a few BTC ATM's. Would love to know what prices they are tied to.
If BTC-e $387 I guess I am in.
Give it a good rinse.
I could do without it but feel compelled.
Fuck, it's comin' FTP
$405 tappin $400. Ping ping ping
Good question, so I figured I'd call and find out. Liberty Teller (the ATMs in Harvard Sq and South Station) claims to use an average of the price on 4 exchanges, coinbase, localbitcoins, and 2 others, which I didn't hear very clearly, but I'm sure are actual exchanges.Quote:
Originally Posted by Sanlmar
Cool guys, answered my questions and we shot the shit for a minute or 2. libertyteller.com/
I checked out the one at South station months ago, I want to say that ATM was selling btc 25$ or so higher than the market price, not sure exactly but it was somewhere less than $50 and more than $25.Quote:
Originally Posted by Sanlmar
I looked at the machines and of course your first thought is about payback for the shiny new machines.Quote:
Originally Posted by SpookygookI checked out the one at South station months ago, I want to say that ATM was selling btc 25$ or so higher than the market price, not sure exactly but it was somewhere less than $50 and more than $25.Quote:
Originally Posted by Sanlmar
God bless 'em for raking a little premium.
BTC-e traded a low of 370 today. Roughly $392 right now.
Alibaba is $90 after opening 92.70 - trading a high of $99.70.
We were asking, "Why the big sales?" How about this?
The price of bitcoin has plummeted in the past few days, and some are blaming the Alibaba IPO for the virtual currency's fall.
Touching as low as $381.17 earlier Friday, bitcoin is trading at a far cry from its position around $513 less than a month ago or nearly $650 in July. And while the cryptocurrency has been languishing for several weeks, it's seen an increasing slide from Monday's open around $470.
Members of the bitcoin community are pointing fingers at the e-commerce giant's IPO, suggesting that tech-minded China-centric money is being pulled out of the currency in order to get into Alibaba's first day of trading.
Writing for Bitcoin Magazine, Sembro Development LLC's Ian Worrall said his firm believes "that the Chinese Bitcoin holders began dumping their holdings earlier this week to free up capital to invest in Alibaba when it goes public."
Euro Pacific Capital's Peter Schiff disputed this theory, telling CNBC "that's just grasping at straws."
"They're just trying to find some excuse [for bitcoin's slide]," Schiff said. "I just can't think there are that many bitcoin guys that are going to jump into Alibaba .
BABA gets interesting if it loses $90.
I am going to buy Bitcoin if it revisits $387.
Just got filled @ 387.60
This could be about to enter bloodbath mode... I think the Alibaba IPO theory 100% holds water and it has the potential to spook the casuals into dumping then buying low and riding the theoretical recovery.
But given what Im hearing about the Alibaba IPO, which is terrifying, this could turn into something where people go from 'shifting around their portfolios' to 'fuck this Im buying gold and silver and hiding it under my fucking bed' in no time.
A nearly $100 point haircut in 5 days doesn't constitute a bloodbath?
They gotta offer a little defense to keep this liquid/interesting.
The hope certainly does get snuffed out with every failed bounce though. The casual gamblers are prolly growing weary of this. But the bigger players need to keep up some interest.
If they can prop it above $400 that should do the trick.
Honestly? I think we are overdue for a plunge down to double digits.
Quote:
Originally Posted by sonatine
honestly, spare us your bitcoin predictions.
Prolly just the posts of a dead man.
New toys to capture everyone attention.
Check out IBM’s proposal for an internet of things architecture using Bitcoin’s block chain tech
https://gigaom.com/2014/09/09/check-...ck-chain-tech/
This week in bitcoin: Why Apple Pay won’t kill bitcoin
https://gigaom.com/2014/09/12/apple-pay-bitcoin/
Who was that peckerface bitcoin apologist that called radio sparring with Druff about how great bitcoin is. I think he posted some on this site too. That dude was a clown. Where is he now?
Quote:
Originally Posted by Sanlmar
Why would anyone even associate apple pay with bitcoin health? I cant imagine a vend diagram that extends beyond 'pay for shit' between the two, which was never really the point of bitcoin. That said, gg Paypal.
There is nothing being said in that IBM article btw. The BitTorrent name drop is just a rehash of the RDB style bit-for-bit replication protocol, which is fine and dandy but the only thing bittorrent adds to that protocol is a hard checksum for the origin media, which you obviously cant use for distributed bit replication in a non-static environment. Their message interface tech blurb is JSON based which is laughable/terrifying/weird, and not what one sees in low-overhead message parsing protocols currently. And the block chain protocol also looks suspiciously like another example of meme-whoring since they dont mention that there is a pretty implicit trust relationship between all those components created when each one becomes a block-chain hub. Like, its bad enough that your android app X can access your facebook friends list, by giving it access to the block chain it now has access to everything from your TV viewing habits to the state of your home security system. But Im sure its all just a big misunderstanding, devs.
Id prefer they left out the marketing BS and described what specific elements in the original protocols they were considering hijacking for their own end-game.
Using forex BTC-e
This debacle started around $470
The low was $370
$100 x (Fibonacci) .382 = $38.20
$370 + $38.20 fib retracement = $408.20 GTFO so I can sleep number.
Sold $409.50 (average) - $387.60 (entry) = $21.90 profit 5%
You often can't get filled until it gets interesting for traders. It was getting close to $411
I have no clue what's next so I just used fib numbers.
If it gets past $411 it can run some more. Kinda nice 5min chart. Maybe $420. But you might grow old waiting.
Interesting to think about:
Wider bitcoin adoption from retailers has meant that bitcoin is constantly being exchanged for traditional fiat currencies as soon as a transaction takes place.
This dump was the result of Bitcoin losing $450 support. That was a huge number everyone was watching for a long time.
It may test $450 again. Good luck. Take a while IMO.
Hope you weren't in WillieMc!