Bitcoins are officially donkdown

[ftpjesus]

Bitcoins are gonna make a run at 2k during the next ten days. And then crash back down to 700. Work their way back and then make another run at 2k. And at some point eary to mid summer make it to 3k. How and why? Stupidity and greed. There are huuuuge segments of the U.S. population that bitcoins are just now becoming a thing to, and these segments are gonna enter the market because it's cool, hip, and once (and maybe will again....) money was made. I think drk has been the main person comparing bitcoins to beanie babies. Love the premise but disagree about the timing because while they've been faddish to a small group of anarchists, drug enthusiasts, paulites, etc., bitcoins are just now entering into suburbia's conscience. Soccer moms are gonna go nuts for bitcoins (and dogecoins). And that's just one (sizable and with money to burn) untapped segment...

Fast approaching 1100 at this time. Could be 1200 before US Main Markets open

[Sanlmar]

how can we start a pfa investment fund?

if we got a group of investors together, and if sanlmar thinks he is +ev, is there anyway for druff to act as an escrow?

Sadly, I am not an investor. I am Joey Knish grinding out the rent looking for select high EV chart patterns. Get in get out with some kind of scalp. Hope to win more than I lose.

I am so not Warren Buffet - I rarely have held overnight. I have no fucking pipe dreams of buying Microsoft early and cash at retirement. I'm not that good or patient.

My last trade I bought BTC at $585 when it tanked and sold at $695 - it was a capitulation play. It was to my eye, almost a sure thing.

I felt it was a quick score inside an overall downtrend. This was a bubble collapse according to the chart.

I have had consistent position from the start of my posts that Bitcoin was gonna follow the Archetypal Bubble Stages chart.

This last move proves me wrong.

C' est la vie. I feel like the guy at the cashiers cage who spills his racks onto the floor.


It is still pure speculation but some crazy forces are at work. I don't see any place to enter. Prolly, wait to see what it does around $1250. See how it breaks through the old high. If it's a clean setup, hopefully some kind of cup and handle setup - you load up. I can wait.

But like Joey Knish, I showed you my playbook I put together off my own beats. That wasn't enough for you... wink

Get that Candlestick charting book WillieMc.

[simpdog]

http://www.ronpaulcoin.com/

NEXT BIG THING

 

likely to be hacked

[Sanlmar]

http://www.ronpaulcoin.com/

NEXT BIG THING

 

likely to be hacked

I think you've innocently stumbled onto something that may get you on the CIA's watch list. I am going to have change my email after informing you of the following.


If there’s one thing that distinguishes Ron Paul from the rest of the GOP field, it’s his principled stand against American empire and his ardent defense of individual liberties.
Paul’s opposition to wars, bloated defense budgets and government espionage of US citizens has made him a hero among some young conservatives.

Ron Paul is just a CIA puppet.

So it should come as a shock and disappointment to his followers that Ron Paul’s single largest donor—his Sheldon Adelson, as it were founded a controversial defense contractor, Palantir Technologies, that profits from government espionage work for the CIA, FBI and other agencies, and which last year was caught organizing an illegal spy ring targeting American political opponents of the US Chamber of Commerce, including journalists, progressive activists and union leaders. (Palantir takes its name from the mystic stones used by characters in Tolkien’s Lord of the Rings to spy one another.)

Yup, that right you 3D HFI Smaug fans.

According to recently filed FEC disclosure documents, Ron Paul’s Super PAC has received nearly all of its money from a single source, billionaire Peter Thiel. So far, Thiel has contributed $2.6 million to Ron Paul’s Super PAC, Endorse Liberty, providing 76 percent of the Super PAC’s total intake.

Thiel, a self-described libertarian and opponent of democracy who made his fortune as the founder of PayPal, launched Palantir in 2004 to profit from what the Wall Street Journal described as “the government spy-services marketplace.” The CIA’s venture capital firm, In-Q-Tel, was brought in to back up Thiel as one of Palantir’s first outside investors. Today, Palantir’s valuation is reported to be in the billions.

Do you think the Ron Paul coins are simply a stunt? Do you think PayPal will tolerate Bitcoins success? Do you think a Stanford grad can't outwit the Harvard Winkelvii?

Do you think your needing to restart your computer after this post was just a coincidence?

Good luck and tread lightly, sir.

[Crowe Diddly]

http://coingen.io/

[rum dick]

http://coingen.io/

Oh.my.Lord. greatest post of all time. thank you for that link. time to have some fun.

[Prodigal son]

http://coingen.io/

Guy's rakin it. Genius idea. Like making ppl pay to name a star after you.

[kmksmkn]

so right now BTC-E has bit coins at 809 and mt gox has them at 901. Could u in theory buy them on BTC-E send them to mt gox and cash them out and just keep making money doing this? What am I missing here?

[monsterj]

so right now BTC-E has bit coins at 809 and mt gox has them at 901. Could u in theory buy them on BTC-E send them to mt gox and cash them out and just keep making money doing this? What am I missing here?

what is the ask on BTC-E and bid on mtGox? is there a chance you miss your fill(execution risk)?

[kmksmkn]

so right now BTC-E has bit coins at 809 and mt gox has them at 901. Could u in theory buy them on BTC-E send them to mt gox and cash them out and just keep making money doing this? What am I missing here?

what is the ask on BTC-E and bid on mtGox? is there a chance you miss your fill(execution risk)?

im a bitcoin newbie dont even understand what your asking

[BeerAndPoker]

America's Cardroom now has Bitcoin for a deposit option but not for withdrawls (yet?)

http://pokerfuse.com/news/poker-room...eposits-08-01/

[Belly Buster]

what is the ask on BTC-E and bid on mtGox? is there a chance you miss your fill(execution risk)?

im a bitcoin newbie dont even understand what your asking

What he's asking is what price can you really buy for on BTC-E and what price can you really sell for on MtGox. The ticker prices often show a mid-price or latest traded price.

Also because the transactions can take a while to confirm and also to move funds, you could end up buying and the price changes and you can't make you sale profitably. Not sure if this is true for bitcoins, but these arbitrage opportuities rarely hang around for long.

[Salty_Aus]

im a bitcoin newbie dont even understand what your asking

What he's asking is what price can you really buy for on BTC-E and what price can you really sell for on MtGox. The ticker prices often show a mid-price or latest traded price.

Also because the transactions can take a while to confirm and also to move funds, you could end up buying and the price changes and you can't make you sale profitably. Not sure if this is true for bitcoins, but these arbitrage opportuities rarely hang around for long.

Problem with this, is getting the fuckers at Mt Cocks to actually pay you. They're taking forever to process withdrawals.
Plus they charge too much for an international wire transfer.

[sonatine]

gox has a documented history of straight up suspending withdraws, often for weeks.

[Salty_Aus]

gox has a documented history of straight up suspending withdraws, often for weeks.

I was happy with Gox till I tried to withdraw some cash.
I'd do a withdrawal and get a confirmation email, then the next day the cash was showing as in my account again. Tried to do it again and same thing happened... they do not answer emails either.

Cost me just a little in the end as I re-bought Bitcoins with my account balance just to get my money off their site.

[ShadyJ]

Bitcoin fish here so I have some questions.

I made an acct at coinbase but you have to hookup your checking acct to buy the bitcoins. Is this a ok to do?

How do you cash out or sell your bitcoins? Is it like poker where it takes 30 secs to deposit and weeks to withdrawl?

If I put bitcoin on a poker site can I withdraw back to bitcoin? If so does it take forever?

Thanks guys more questions to come

[DRK Star]

http://www.dailymail.co.uk/sciencete...in-slaves.html

By ELLIE ZOLFAGHARIFARD
PUBLISHED: 08:25 EST, 9 January 2014 | UPDATED: 09:24 EST, 9 January 2014


Yahoo malware turned TWO MILLION European computers into 'Bitcoin slaves'

Virus stole computer power to make it easier for criminals to mine Bitcoins
There are 21 million Bitcoins hidden across an internet-based network, which are expected to all be found - or 'mined' - by 2040
Security breach took place last week affecting computers across Europe


As Bitcoin’s value continues to rise, hackers have found increasingly sophisticated ways to illegally ‘mine’ the virtual currency.
Now a new method has been uncovered which uses malware infected adverts on Yahoo to make computers Bitcoin slaves.
Yahoo has confirmed that the breach took place last week and experts now believe as many as two million European users could have been affected.

In this recent attack, the hackers used malware to exploit something known as ‘Bitcoin mining’.
The mining process works on the premise that there are 21 million Bitcoins hidden across an internet-based network, which are expected to all be found by 2040.

To unearth Bitcoins, computers have to solve the complex processor-intensive equations which hold them. The more powerful the machine the better it is at solving the riddle.
Computer-makers have been creating high-powered souped-up computers so they can do it repeatedly and rapidly to collect the most coins.

Bitcoin mining malware is designed to steal computing power to make it easier for criminals to collect the virtual currency, without using their own high-powered computers.
Other than a slow computer, those infected with the maleware be unaware that their machine is being used in what could become known as a ‘bitnet’.
Experts estimate that these criminal networks could be generating as much as $100,000 (£60,000) each day.
The value of Bitcoin rose to over $1000 (£613) last year but is currently worth around $850 (£520).

Unlike traditional banking, Bitcoin and its rival virtual currencies, can be bought with near anonymity which supporters say lowers fraud risk and increases privacy.
Yahoo has come under for not or doing anything to help those who had been targeted with the malware, which attacked flaws in Java modules on systems.
Fox IT, the Dutch cybersecurity firm which first disclosed the vulnerability to the public, estimated that there were around 27,000 infections every hour the malware was live on the site.

Users in North America, Asia Pacific and Latin America, as well as those using Apple Macs and mobiles, weren't affected, the group said.
‘The attack focused on outdated software,’ Steve Regan of security site CSO told the Guardian.
‘The only way for the exploits to work is to have outdated versions of Java on your system. If Java is up to date, then the odds are, you're safe.
‘However, I don't trust Java, so unless you absolutely need it, my advice is to uninstall it from your system. It seems like I see more zero-day attacks aimed at Java than anything else, the risk isn't worth it for me.’

[Belly Buster]

‘The only way for the exploits to work is to have outdated versions of Java on your system. If Java is up to date, then the odds are, you're safe.
‘However, I don't trust Java, so unless you absolutely need it, my advice is to uninstall it from your system. It seems like I see more zero-day attacks aimed at Java than anything else, the risk isn't worth it for me.’

[bottomset_69]

This whole bitcoin charade is positively ridiculous. Bitcoins are backed by absolutely nothing. You can say what you want about the US Dollar, but its backed by the US and everything that goes into the US (military, infrastructure, technology, Hollywood, travel, stability, etc...)

A Bitcoin is backed by a mathematical algorithm, that is it. There is nothing supporting it but hope and prayer.

As been stated, you cannot use bitcoins for everyday commerce despite the fact you have some random retailer saying they are looking into them. They have simply too much volatility to be taken seriously. And people are hoarding them which artificially inflates the price. You think Walmart would every sell a $1M in merchandise for bitcoins?

There is now talk the IRS is going to levy a fat tax on profits and treat it like gambling income, which is what it is. Going to be a lot of sad faces a couple years from now who made money in 2013 on these shitcoins, and lose their shirt in 2014/15 and they still have to fork over back taxes on big gains.

[Sanlmar]

One of the Forex brokers is now allowing USD/BTC trading on CFDs at a 10% margin with 100 BTC contracts doing the math however is nasty to buy one contract right now your looking at 9-10k for a single contract you can buy as small as .01 contract which means 1 btc at 10% so if you really want to play in btc you can get in for 80-100 and ride the topsy turvey world.. Personally it has the potential to make money but also destroy your trading acct quick the 10% margain requirement isn't horrible you have to drop pretty low to lose your trade but at the same time the vix on btc's is such that the whipsaws alone would make me nervous as hell.. The potential to scalp is no doubt there but as far as buy/sell and wait any significant time would be a bad bad idea.

In case anybody is curious this is the forex broker trading btc cfd's now.. www.myfxchoice.com they do accept us clients minimum is $100 to open an acct and no I don't get referral credit as I gave ya the home page.

ShadyJ & Salty,

Unless you really want to buy Alpaca socks with Bitcoins - Forex is the way to go to trade the price swings.

FTP does a good "how to" with his post.

I used Mt Gox months ago. I have traded with individuals face to face. Interesting experiences but FTP pointed out the obvious to me quite a while ago.

Your Forex account will probably grant you margin. If the price moves against you to the extent of your "deposit"/equity you are cooked.

I understand Salty has coins from mining. Shady may actually be interested in using the coins for deposit. If you are interested in gaming the Bitcoin price only, Forex is the way to go.

Google Forex. You can set up a "play money" account just to get the feel of trading. If nothing else, it will be an interesting experience. The world offers so many ways to be degen. Learn them all!