All posts made by bclcjunkie in Bitcointalk.org's Wall Observer thread
1.
Post 2417547 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_11.03h):
i wonder how many stop loss orders will be triggered in 90-80 region... prepare your fiat guys... here it comes...
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2.
Post 2430784 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_11.03h):
i'm seeing a slow descent... feels like a carefully planned dump not to cause panic... look at those 10, 100+, 200 btc dumps, don't seem natural to me...
3.
Post 2430875 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_11.03h):
nice observation... i don't know what continent they are from but it's as though they specifically pick time when trading is less active and mostly bot driven... i guess that's just their strategy to not cause some sort of panic buying and get more time to load up on cheap coins, next thing they do is support the price with walls and start offloading at a few exchanges during busy times just when US and EU are in prime to buy up the dumps...
During the last weeks, I'm having the strong impression that the new official "market makers" are Chinese.
Just take a look to the times of the day in which big moves happen. It's always deep night in the US (the big buys that propped up the price today happened around midnight NYC time). And then, remember how in March everything "big" happened when the US waked up, including the April, 10th chart. Biggest activity was always during USA daytime.
This changed completely during the last weeks. I'm in Europe, and usually big moves are happening while I'm waking up. And I'm pretty sure there are not many big european players, because the US was always leading the market, and nothing relevant happened in order to shift the "power" to europeans.
On the contrary, just think on the huge amount of coins ASICminer is piling up. Just a friendly reminder, aprox. 15% of the coins rewarded daily (3,600 in total) go to asicminer. Half of that goes to public shareholders. The other half, stays in ASICminers and private shareholders hands. Then, you have the huge revenue stream coming for overpriced hardware sales. They really got a big piece of the pie ATM, and I'm quite sure that piece of the pie was
taken from US hands.
What about Avalon? They should be controlling +100k
BTC at the moment.
So - what do you think? We can officially say that we have to wait till "China wakes up" from now on?
PS: Coinseeker, I know that hurts... But it is what it is
4.
Post 2474416 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_11.04h):
true, it's early to see their real intentions... what gives away is the double standard when it comes to banks.. case in point HSBC and other banks:
http://www.globalresearch.ca/money-laundering-and-the-drug-trade-the-role-of-the-banks/5334205last i know HSBC got away with small charges and no one was jailed so far...
It's very naive of you to believe these guys have good intentions. They are saying whatever sounds good publicly, but if they had good intentions, liberty reserve wouldn't be closed. It provided a very valuable service that no banks could compete with. Bitcoin, is liberty reserve on steroids. The unstoppable version of liberty reserve. Of course they're not in favor of that.
5.
Post 2761137 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_11.11h):
add to that his avatar i almost fell out of my chair laughing out loud...
Shrooms,
stop bitching mate if this shit is getting too heavy to handle for you find yourself a subforum that will feed you some overoptimistic nonsense for bagholders... i'm a bitcoin fan but i'm a realist hence love what guys like Rampion, IAS and Blitz think about current situation... they are the reason i visit this subforum daily to keep myself informed.. i got hit badly due to lack of knowledge about bitcoins.. and at least i now have much better view of what's going on in bitcoin market, what really drives it and keep my expectations far more realistic not to mention be cautious when it comes to investing in coins... all thanks to these guys... now that doesn't mean they may be correct all the time but at least they give enough information for you to make your own decisions, conclusions...
So MtGox is servicing withdrawals AND we have 155k BTC to be dispersed in 4 hours?
Goodbye, triple digits. Does anyone remember those?
I'm starting to think you are mentally challenged or something.
You already looked like a complete fool twice over the past 2 weeks and you just go on like nothing happened. Just like that other delusional tool Rampion. What is wrong with you people? Don't you have any shame?
Don't you see you were wrong twice already? Do you just ignore it or what?
I'm just totally amazed by your behaviour. You really don't seem sane.
God, Shroomsy I love you, you're really making me laugh out loud, I'm almost pissing my pants!!!!
Pure comedy gold
6.
Post 3347816 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_11.17h):
7.
Post 3476949 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_11.19h):
free exchange is a honeytrap. it attracts liquidity and coins. gox will bleed dry soon if Karpeles doesn't get his shit together real soon...
For the first time in btc-history Mt.Gox lost his 30day volume leadership.
This IS historic! Poor Karpeles
With free trading, anyone could. You could build an exchange on your notebook that trades with itself and have beaten gox with free trading.
8.
Post 3485750 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_11.20h):
he just can't get over the pain of losing opportunity.. all i hear is whining from this phd troll..
I predict a BIG CRASH IN 24hours
Obviously you've sold earlier and getting angry the price has risen since
9.
Post 3507135 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_11.21h):
10.
Post 3520905 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_11.21h):
moved all in when the prices were USD 180+ and after that baidu announcement... best decision ever.. and if i had more fiat right now i'd do go all in even at 350.. i still believe there's more upward movement for btc, just look at those flash crashes. recovery is amazing, it's just so different than pre-april bubble!
11.
Post 3521042 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_11.21h):
12.
Post 3531111 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_11.22h):
+1 so spot on
Let's not forget that back in April there was only ONE significant exchange out there... Now many exchanges are moving similar or greater amounts of
BTC/fiat and that's why one cannot "manipulate" the market anymore. As posted by gandhibt, there are not so many players with 100K of
BTC handy nowadays. Now even a user with 3K is considered *significant* player... And this is gonna look much worse in the near future as more people getting involved...
13.
Post 3531518 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_11.22h):
don't pay attention he's been singing that "compliance" song ever since... nothing but fear mongering bear desperately waiting for cheap coins...
Shopify is effectively acting as an exchange. Are they FINCEN compliant? If not, only a matter of time before they get shut down.
*edit*
and bitpay was also acting as an exchange, which is probably related to their recent shutting down.
Utter nonsense. You obviously don't know the first thing about FinCen regulations. Processing for the sale of goods is not a money transmission activity.
Also, Bitpay has not shut down. Wow.
14.
Post 3579853 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_11.23h):
well today i donated 1 btc after realizing quite a profit.. ... sold most of my stash, left a few for a rainy day.. all in at 200+ out at 400+...
could've held yes but i'm still a happy camper... btw don't underestimate the power of charity it can return to you wonders...
Folks!
We've all made a killing trading Bitcoin.
If you believe in Karma (or not), please donate a fraction of a Bitcoin to help the unfortunate victims of typhoon Haiyan.
Read: http://money.cnn.com/2013/11/13/investing/bitcoins-philippines-typhoon-donations/
Enough fractions of a Bitcoin with enough donors can make a big difference.
Giving like this helps build up the reputation of Bitcoin.
Thanks!!
Karma? LOL that's funny !~ this pack of greedy wolves don't donate 'ish !
~ in all the time, after countless hours devoted to supporting the community with no pay= i've NEVER received a donation(*except from Prime Dice/stunna!)
/\BTC>>>GOD BLESS THE FAMILIES IN THE PHILIPPINES!!!!x1OBTC[
15.
Post 3608303 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_11.23h):
i'd ignore that thought if the guy was some average joe, i'd rather take things more seriously if this came from a guy who was some ex-cia, financial elite: a kind of profession that gives them firsthand gov insider info... besides bitcoin adoption is spreading geographically and it's no longer tied to US demand only, so frankly i don't see dark days for bitcoin ahead...
Just had an interesting discussion about bitcoin with a guy I just met. Fascinating. He's well versed and seems to get it fully, yet thinks governments won't allow it. No "oh, you out smarted us!" or such. He may be right. Yet he acknowledged it couldn't be shut down, just outlawed.
Who else is ok with bitcoin being "just" an underground thing, eh?
16.
Post 3717014 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_11.29h):
seems like more speculative fiat to move into bitcoin soon...
http://www.coindesk.com/exantes-bitcoin-fund/"Silbert also confirmed that he’s working with Pensco Trust Co, Entrust Group Inc and Equity Trust Co to offer investors the ability to purchase bitcoin for individual retirement accounts. In a little under two months, SecondMarket’s Bitcoin Investment Trust has already attracted $15m under management."
17.
Post 3730467 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_11.29h):
18.
Post 3735113 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_11.29h):
what a wishful thinking...
the only thing that will crush the price is some spooky news from washington or politburo, other shit is just temporary...
Lol, funny enough but I find 'bearish insight' to be more sensible and plausible than bullish insight. I haven't bought back in yet no, certainly not at these prices, a crash is only round the corner, it's a fact, a law of the universe even, we both know it. That's when I'll be waiting with QtTraderbot to munch all the cheap coins.
19.
Post 3836622 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_11.32h):
here's my take... for the record i'm a bull so this is in no way to attempt to spread fear or panic, in fact i'm happy to hear if someone else thinks there's another side to my thinking...
basically this news recalled the story with qq coin... i feel PBOC's sentiment towards virtual currencies hasn't really changed and all that sugarcoated talk is going to turn ugly once they realize that they can't put up proper capital controls around bitcoin or can't tax individuals who stashed millions away... in fact in a country where i live, 2 exchanges are undergoing new regulations as banks are now starting to scrutinize large transactions (SGD 1mil of money flow a month) for probably capital controls and tax purposes...
Source:
http://online.wsj.com/news/articles/SB117519670114653518Quoted:
"The People's Bank of China will strengthen management of the virtual currencies used in online games and will stay on the lookout for any assault by such virtual currencies on the real economic and financial order," the ministries and bank said in a joint statement.and the hammerban 2 years later..
http://www.theregister.co.uk/2009/06/30/china_bans_virtual_money_to_buy_real_world_goods_and_services/so i ask myself what happens when you have huge outflows of hard to trace illicit money? first, you strengthen the currency of the country that launders money while weakening yuan right and PBOC has to compensate that by purchasing equal amount of yuan offshore at the same time taking in massive losses... second, you lose an opportunity to tax wealthy individuals...
http://www.gfintegrity.org/content/view/581/70/quoted:
The Chinese economy hemorrhaged
US$3.79 trillion in illicit financial outflows from 2000 through 2011, according to a new report [PDF] released today by Global Financial Integrity (GFI), a Washington, DC-based research and advocacy organization.
You realize is was the central bank in China making the announcement, all central banks hate Bitcoin as they can't print it, they have to buy it like everyone else, they are not use to that level playing field so they will do whatever they can to hinder Bitcoin or any other decentralized currency, the word central isn't in their name for decoration.
20.
Post 3852361 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_11.32h):
mtgox constipating at 920-960 range... i think we're getting cheap coins soon...
21.
Post 3861225 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_11.33h):
might not be too fast, coz what looks like to me is more of slow exit than trying to induce panic selling... was observing btcchina and i see small but steady sales as if someone or some investors genuinely want out but without hurting price too much...
We could be seeing another flash-crash soon.
22.
Post 3866266 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_11.34h):
i have pretty much the same sentiment about that fake 800 resistance... i think we're still walking on thin ice here... funny i almost pulled a trigger a few times during those mini bull traps, although that usd 600 dip was a really good opportunity and i missed it because my local exchange mysteriously run out of coins when they became so cheap...
yeah right.. this time support doesn't seem so strong as during flash crash recoveries as we used to witness in previous run ups so this time i'll be more prepared with my fiat...
False support at 800 will drop once order book fills above it, and bag holders get lunch money suckerpunched?
edit: I mean, that's how I'd do it.
edit 2: Actually, yeah, look at the 1000 coin buy at 800 (one hour ago), it pushes the bar up, and then walls close in, and guess what will happen next? I'm thinking walls pulled, and market sell of those 1000. Just thinking aloud. Anyone? Bueller?
23.
Post 3866347 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_11.34h):
by social security columnists?
we need serious insights, i'd rather hear opinions from financial top dogs or at least those that understand money economics... all i'm saying we now have every tom, dick and harry reporting on bitcoins so we need to separate the wheat from the chaff...
24.
Post 3877791 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_11.34h):
precisely, there are much much bigger paws than rpietila in this game and they keep low profile... sometimes i tend to think in the grand scheme of things early asic manufacturers might be involved too via proxies with deep pockets... currently bitcoin market is unregulated so the incentives to fleece average joes are just too irresistible to them... they'd be killing 2 birds with one stone: they sell you asic at insane margins while pumping bitcoin to euphoric levels and when they're done for that quarter or a year with shitload of fiat they can either sell off the coins to cover previous pump and may be even get some additional profit along the way...
nice answers, ty for that!
my opinion on rptiela is the same as rampion, he's
talking big and posts nice stuff but he sucks at trading 
Hey - if you did wrote and 'arb-bot' would you have to accept the first thing that would happen upon launching it be a selling down of the higher exchange - an automatic reduction of the spread?
Just a kooky theory?
I'd say yes but you would need ultra deep pockets, the "normal" spread between btce and gox was always 100 USD so if you'd turn on an arb bot all the other people and bots would still trade with the $100 spread in mind so if you buy on btce to sell on gox someone else might sell on gox before you have the chance to profit.. the only way to counter this is either by DDOS or by buying/selling enough to close the spread but it would only last temporary before reverting back to the "normal" $100..
now the strange thing is it's not reverting at all, the only explanation I have is that someone is catching all the other trades until they run out of money to recreate the spread.. but that's insane isn't it?
25.
Post 4212130 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_11.48h):
dude you need to chill, risto may show off sometimes but that doesn't bother most of us. heck i don't even mind goat's showing off his lambo... but what i truly care about is what he has to say about bitcoin and his analysis... you on the other hand don't seem to add much value to this thread except empty rants without solid analysis or backing...
he even posted his trading dates, i'm surprised he wasted his time responding to you...
i usually just skip through your posts because i find them less useful, while on the other hand i bookmark risto's latest posts and check them daily...
now that doesn't mean i follow him blindly i just appreciate his contribution and know how to separate the wheat from the chaff...
P.S just so you know... he nailed the price pretty closely when china crashed...
https://bitcointalk.org/index.php?topic=178336.msg4070558#msg4070558If this consolidation continues for another week until Jan. 6th, bears are going to be treading on REALLY thin ice, imo.
Depends on the timeframe. Personally I expect the final capitulation in Feb +/- 1 month, so one week does not matter much. Perhaps there should be a different thread for people who trade on daily, weekly and monthly timeframe. Or less slander. If March passes without hitting $400, then the chances of seeing it again are slim.
Well my premise is this one. A lot of new fiat will be hitting the exchanges in January. People want to get in NOW given what happened between Jan to Dec of 2013. Especially if the slow trend up continues.
My timeframe is longer. Bitcoin has been around for 5 years, and it has always been a terrific enlightenment for those who have been ripe for it. The knowledge about bitcoin has grown exponentially and investment into it has grown exponentially. I expect this to continue and every year be on average 12 times more glorious (as it has been), until everybody uses bitcoin (which will happen in 2016-17 at this rate).
Everything that has happened since 2009 is captured by the trend and its variations, and will be.
There has been some regularities in the growth that I have researched, some of it is published, some not. I believe knowing them gives an edge in trading, and so far it has proven to be good. I have several million dollars of my own money that I could use to purchase bitcoins but choose not to. Not at this price. I am taking a large, calculated risk, with entry points set according to mathematical model for the rest of the year. I even gave the average sell price a few posts ago. Now there is no need to comment that I am doing bad every time the price rises $10. You could as well post about how
good I am doing for the reason that I always have more bitcoins than fiat anyway
So, after smoking the
best the world has to offer, I again feel that taking a break from this thread is in order.
See you at $500. And don't fall in the bull trap
RP what I don't get is if you truly truly believe your log charts of 12x growth every year then why even trade? You are risking tens of millions of dollars in order to make a few more tens of millions. Isn't there something more worthwhile of your time. Like maybe starting a foundation or something?
Because his ego needs feeding. A little humility would suit him.
I am not sure it is pride. He is indeed a multi millionaire. Most of us here, myself included are not. He is in a position to use his wealth and BTC holdings to make more profits. Is it prideful for him to make comments about what he is doing with his wealth and some of his strategies and what has worked for him? I think many here are just envious. I think the humble person will think that perhaps in a year or two, if BTC continues the growth that we are on, could be in a situation in which we have great wealth too. We could come on the boards and share what knowledge we have gained and the "cigars" we are enjoying and everyone will rise up against us too. Perhaps staying quiet and being more subtle, like Loaded or a few other big holders, is wise in that there is less angst against them, but Risto is just sharing his knowlege and experience and even his success with us and I personally really appreciate it.
OMG did you say sharing his knowledge ? you are kidding right ? the only knowledge he has regarding Bitcoin trading is how many Bitcoins he has.... all his calls were false the one he've got right were pure luck, it is like someone talking everyday for one month, what are the chances that he will be right? ah got it ? now don't tell me his long term calls were right! well wow guess what, no matter when you bought Bitcoin the last 5 years it turned out to be a hell of investment, you do not need any one to tell you that.
and yes I am so annoyed because each time he fuck up, he has to brag about his wealth instead of saying "oops I was wrong" this is ego not pride, and you know who does that people with weak personalities.
again, his only advantage is being an early adopter, and BTW when he knew about Bitcoin he might spent few thousands or ten of thousands USD, allot of people invested a kind of money that he never saw in his life before investing into Bitcoin and I am sure about it beacuse his kind is called "the new to money", he doesn't own money but money owns him
26.
Post 6793166 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_12.45h):
well said Risto... however i doubt the professor will understand that simple and clear explanation he's probably lost in his own analysis as Phd holders usually like to complicate their research...
So I am puzzled by this calm, I can't understand what those Chinese sellers are waiting for.
The nature of Bitcoin - once you sell it, you can't sell it again.
After 6 months of selling, no more coins in the sellers' hands.
Volume down.
Next: UP. No other way is even possible.
When: Don't know exactly, but 650 by the end of June is a possibility. Top could be in August-September.
27.
Post 6830402 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_12.45h):
Blitz where did that "no more triple digits" attitude go? i still remember that fud... LOL
What I do see being (ab)used ad nauseam is FUD (some news I don't like? Oh yeah, FUD!), and "Facts U Dislike" to me is a counter to that. Fire with fire.
As to that, I don't really like the HODL CCMF 2DAMOON either, but you won't see me complaining. And really now, can you even remotely compare the two in frequency? That's why I am bewildered about the (feigned?) annoyance.
PS: Who wrote that quote in your signature? Mat too?
28.
Post 9704378 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_13.36h):
Blitz what bot are you referring to? if it's the willy clone then it has to be one of the well established exchanges otherwise no one is going to buy the trick.. if it's the normal bot where's all the liquidity going to come from? i don't think we're going to have a mtgox repeat in near future, most of the exchanges are doing quite well and even passed audits, so it's sideways and a lousy pump to perhaps 900s...
Stolfi, noone can stop the pump bots. Given the lack of laws in this area, it is inevitable that Bitcoin will be manipulated to new highs, even if it doesn't get there legitimately.
29.
Post 9874606 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_13.40h):
also it's the margin trading that decides market movements these days... look at those idiots piling into short positions recently about to get margin called... the same noobs change their tune as soon as they spot a tiny rally and start throwing money on longs, so gullible and so easy to profit from... this will probably go on as long as speculators can profit and shake more coins off of the weak hands... i'd say no rally until some real black swan type of event drives up real demand and bleeds all those speculators dry... somehow china exchanges and finex appear to be working in tandem and profiting greatly on a regular basis...
316 fell, next horizontal support would be 275.
Out of curiosity Blitz: do you think 275 will hold? There has been a lot of talk about the 270ish level around here, and often it has been called 'the real bottom'. Given the flurry of bad bottom calls of the past 10 months or so I'm very sceptical about that, although there will likely be a major battle around that level. But what do you think?
Second: if 270-ish gets broken, do you expect Bitcoin to crumble down to the high 100's?
As for pure technical analysis, no real clue, sorry, I don't think there is a reasonable way to tell beforehand. It's one of those things where you've got to see it playing out, anything else will just lead to pouring your bias into the prediction.
But here's my bias based on psychology/sentiment: Pretty much the only thing that can calm holders nowaday is the notion that Bitcoin has never gone below the previous all time high in the following correction or bear market. Because of this, I think there are going to be a whole lot of "weak hands" in this area because it's so close to the 266 high.
Oh, as for what happens should we decisively break this level, I would definitely expect a flash crash at that point. Where that flash crash leads is extremely difficult to predict beforehand (that's the nature of a flash crash after all), but sub 200 is not out of the realm of possibility. It also really depends on the particular exchange in a super volatile environment.
30.
Post 10053175 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_13.44h):
precisely... we now have shitload of coins that will have to find some buyers eventually probably at double or even single digits (your favorite prediction will probably come true this time Blitz, remember how you used to say no more triple digits?
):
- US Marshals auctioned away about 52,000 coins so far out of 173,991 that they recovered from Ulbricht.
- We have about 600,000 Mtgox coins that vanished in addition to known 200,000 coins from MtGox that will be part of liquidation process
- We now have 18,000 coins that will have to be dumped for sure
- Big ass mining corporations that will probably dump to recover every single penny sending prices to ground knowing how much excess infrastructure has been built recently following fake MtGOX induced rally..
CCMF?
As every hour ticks by more and more bad shit seems to be creeping into this story.
Question is...what's the collateral damage going to look like?
There's a new statement from Bitstamp here.
https://www.bitstamp.net/"An important message to our customers:
January 6, 2015, 12:34am UTC: We have temporarily suspended Bitstamp services. Bitstamp customers can rest assured that their bitcoins held with us prior to temporary suspension of services on January 5th (at 9am UTC) are completely safe and will be honored in full.
On January 4th, some of Bitstamp’s operational wallets were compromised, resulting in a loss of less than 19,000 BTC. Upon learning of the breach, we immediately notified all customers that they should no longer make deposits to previously issued bitcoin deposit addresses. To repeat, customers should NOT make any deposits to previously issued bitcoin deposit addresses. As an additional security measure, we suspended our systems while we fully investigate the incident and actively engage with law enforcement officials.
This breach represents a small fraction of Bitstamp’s total bitcoin reserves, the overwhelming majority of which are held in secure offline cold storage systems. We would like to reassure all Bitstamp customers that their balances held prior to our temporary suspension of services will not be affected and will be honored in full.
We appreciate customers’ patience during this disruption of services. We are working to transfer a secure backup of the Bitstamp site onto a new safe environment and will be bringing this online in the coming days. Customers can stay informed via updates on our website, on Twitter (@Bitstamp) and through Bitstamp customer support at
support@bitstamp.net.
- Bitstamp Team "
31.
Post 10120990 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_13.46h):
Gavin is throwing tantrums around again... looks like bitch fight is brewing up...
http://qntra.net/2015/01/the-hard-fork-missile-crisis/once the upcoming squeeze is over that hard fork fud should come handy to squeeze longs..
32.
Post 10131749 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_13.46h):
excellent points... soon optimists will come to their senses and understand that there's avalanche of coins that will cripple rallies, it's why Willybot was successful because it was buying with fiat it didn't own and when there was less supply of minted coins... in addition to all those frustrated hodlers that are just waiting to gtfo at 500, 600, 700+ range there's also oversupply from US marshals, MtGOX liquidation, mining companies, payment processors that do nothing but dump right back at you, i don't even want to mention margin trading... CCMF anyone?
<doomer alert>
Let me guess, you are wearing a placard saying, 'the end of the world is nigh (sell bitcoin)'?
I sold my bitcoins on 2013 December, when the price was about 1060$. After that, I have only bought bitcoin by holding it no more then 12h tops.
I just haven't seen a reason that would cause a strong enough rise to be sustained. I think that the crypto market is highly inefficient, and the majority of the players are dumb and inexperienced.
I believe that there would have been a proper trend reversal in 2014 Q3, if the market would have dropped to around 200$ in Q1 and would have rested there till Q3, and then there would have been enough force to push the rise back into orbit. The fake reversals that we have seen here, have only made the market weaker. For instance, if the price would have stayed at 200$ for the first part of 2014, then it would have slowed down mining expansion and that would have meant less cost for the network and less selling pressure.
Biggest buyers of coin jumped in too early and only exhausted their resources in paying the overheated and senseless mining network.Now, the rich enthusiasts are out of resources or enthusiasm and because there are even more mined accumulated coins waiting to be sold,
the selling pressure is even higher then before to push through.Bitcoin as an investment went to hell, because people couldn't keep a cool head and tried to push BTC up too early. Too much of "if we believe it enough, then anything can happen!!!" attitude will screw things up like that.
33.
Post 10177137 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_13.50h):
CHF you say?
how about shiny 10oz bullions that give me safe and sound sleep at night... looking back at mtgox fiasco it was wise to cash out majority of my bitcoins when they were worth something and catch recent gold bottom... In addition to a few bullions and Monero, I'd baghold CHF over any other currency any day though...
Because you're safer with seatbelts on when the paper fiat ponzi comes crashing down.
Hmmm crashing down?
My CHF holdings are worth more than ever. And I can buy 15% cheaper worldwide!
Which ponzi did crash first?
Fiat or bitcoin? Just watch the 1year pricecharts from bitcoin. Hope you did not lose any money and sold during 2013
34.
Post 10352170 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_13.56h):
looks like even bitcoin is not immune to Feudalism anymore... why the secrecy? are the elite bagholders extremely worried serfs will know what they are up to...?
http://www.infowars.com/bitcoin-elites-plan-secret-bilderberg-style-confab/KNC is investing 150 mil to feed their own bellies... the feast continues, while serfs labor outside...
http://blogs.wsj.com/venturecapital/2015/02/03/bitcoin-mining-company-kncminer-gets-15-million-amid-lawsuits/
35.
Post 10396029 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_13.57h):
eye opening interview on bitcoin's current state from futurologist Vinay Gupta...
https://bitcoinmagazine.com/18000/bitcoin-is-teaching-realism-to-libertarians-an-interview-with-old-school-cypherpunk-vinay-gupta/especially these snippets..
Many bitcoiners would rather not see Wall Street involved at all, in order to preserve Bitcoin’s promise of freedom…
Well, that kind of utopian vision, unfortunately, is total horses*t for Bitcoin. There are three problems: natural monopolies, cartels, and power law distributions of wealth.
Bitcoin-mining is specialized by groups with heavy technological capability and enough financial strength to get custom hardware made. These miners have now pooled their computing power together because it evens out their earnings, effectively minimizing their risk. In the case of Ghash, this even puts them perilously close to the 51% point for control of the blockchain. This is cartel power.
Meanwhile, the distribution of bitcoins seems to replicate the current situation where 300 billionaires control the same amount of wealth as three billion poor people. This is partly because of early adopter dynamics and the increasing hardship of the mining process, but there’s also some evidence that power law distributions of wealth is just what happens in unregulated economies. This is a point many libertarians would argue against… but we’re doing the experiment right now, and there’s every indication that the basic structures of libertarian economics do push into that direction.
And then you have the Bitcoin Foundation, which is emerging naturally from the Bitcoin environment simply because it has established an economically efficient configuration. By paying the technical priesthood of Bitcoin known as the Core developers, the Foundation has created a huge amount of centralized power within a system that didn’t really start with any, which has now effectively turned it into a natural monopoly. And once you have a monopoly, it looks like a state. No wonder that the Bitcoin Foundation looks so frightening.
36.
Post 10508351 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_13.59h):
also i wouldn't be surprised if elite manipulators started taking up positions on both sides and profited either way... lately i'm unable to read market direction because of how they are able to create confusion in terms of long vs short sentiments..
Jeasus 19k shorts now
Sat/Sun there were only 14k
Chomping at 238 is a no no!
the thing that scares me about this... there is only 16k coins available under 500 on bitfinex
what happens if a cascade happens and starts forcing liquidations?
Better ask those guys that went long with ~ 69367 BTC (most of them probably used BTC as collateral which makes it even worse...
)
37.
Post 10618573 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_14.01h):
i'll revisit this thread for lolz later, in the meantime keep up your enthusiasm because i'll need a hardworking porter like you when that imaginary rally comes.
There are so many scenarios where entirely more than $10 million enters the market overnight.
While nothing is a certainty in this world, I'd say the odds of someone dumping 10 million onto an exchange and slamming market buy with every last dime of it are slim to none. If someone had $10 million they wanted to put into bitcoin, they would probably be bidding in the upcoming auction, or buying off-exchange.
...and when they lose the auction, that is exactly what they will do. Maybe not a market order. But certainly a lot of buying pressure after the auction. There will be days in the near future where $10 million per day will be a drop in the bucket. Feel free to save this post and recirculate in the coming months.
One, thinking like yours is what makes people panic buy at the top of rallies. Two, you originally said "$10 million enters the market overnight," not "a lot of buying pressure after the auction."
We need to be shooting for 100% of m2 then. Fuck those other currencies.
Yeah good luck with that.
1. I am not advocating buying at the top of the rally, I am advocating buying right now. When it goes past $500, you are probably too late considering fiat deposit times.
2. $10 million is nothing to hedge funds, retirement funds, etc. There will be be buying pressure right after the auction and long after.
3. People are going to be sick that they missed out on buying bitcoin at these prices. My advice is to buy what you can afford or forever regret. You are lucky to even know what Bitcoin is at this point in its evolution.
38.
Post 10882621 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_14.07h):
you may still want to hold on to your fiat as i think this downtrend isn't over yet... because in addition to what US marshals hold, MtGOX liquidation coins, and other stolen coins new money will have to absorb additional stolen 130,000 bitcoins.. of course that's just on records there could be more who knows i mean evo moved 50 mil worth of stuff... so smart money don't intend to end up bagholders... in the meantime longs are building up for epic squeeze and evo thieves are probably moving thousands through mixers and anon coins before selling them off to manipulators at a discount... i wouldn't be surprised if there's already underground market for stolen bitcoins just like what we have for stolen credit cards.. i mean these thieves or hackers aren't stupid to dump stolen coins on well established exchanges especially when the ledger is in public view so my guess is pretty soon "brand new" evo coins reach legal exchanges in one way or another...
http://www.news.com.au/finance/money/i-think-they-will-start-breaking-toes-evolution-marketplace-goes-down-in-massive-bitcoin-heist/story-e6frfmci-1227270892566
39.
Post 10904204 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_14.07h):
meanwhile it'll be interesting to observe how the early BIT bag holders will react once the market is up for trading... I'm sure Grayscale has some tricks up their sleeves and will do their best to prop up the market after all their disclaimer already covers them in case of lawsuits...
here're a few from their disclaimer:
http://www.bitcointrust.co/The BIT and its managers or advisors may rely on the trading expertise and experience of third-party managers or advisors, the identity of which may not be fully disclosed to investors. subtle pumps...? well locking in a bagholder for a year and make him pay for that seems like a good deal...
The BIT’s fees and expenses−which may be substantial regardless of any positive return− will offset the BIT’s trading profits. oops the only loser here is BIT investor
The BIT and its managers/advisors may be subject to various conflicts of interest. didn't see that one coming right?
40.
Post 11007388 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_14.09h):
i think this is just a deceptive mexican standoff conjured up to probe the market, mislead the price guess.. notice how this is being delayed... if i'm observing correctly shorts vs longs is no longer accurate as it used to be in 2014 as it's becoming way too predictable and less profitable... i'm still positive that this market is rigged up to eyeballs and any engineered "news leak" any day now should set the direction either way to manipulators' benefits... i wouldn't be surprised if the forces that move this market are present in both sides of the leveraged market...
I'd love to hear a logical reason why you think that "ofc" it will go down.
Ball's in your court.
Reason? Analysis of formation, volumen and few indicators.
Analysis of which "formation" and "indicators"?
That's pretty vague.
As for volume, the last bit of real volume we had was upward.
If you don't have an answer, that's OK. Just don't be so assertive about your opinionated conjecture.
Have you been drinking?
41.
Post 12038507 (copy this link) (by bclcjunkie) (scraped on 2020-04-04_Sat_14.22h):
really? is that how you view centralized electronic currency such as bitcoin? don't you see how governments are pushing for electronic cash so that they can track you even more? no thanks, i prefer NSA and CIA to stay the f..ck out of my kids' life...
On a serious side note, if mark gets jailed in japan... well even he doesnt deserve that...
oh, I think he does. The lives he ruined is one thing, but he caused more damage to our project than any other single person. Bitcoin may be the only thing that saves our children from living in a vastly poorer world. If it is, and mass adoption was delayed by about a year or two because of him, the loss of potential benefit is incalculable.
