LOL!!!

Long squeeze! 

https://www.bitfinex.com/pages/public_log

Snippet


http://www.technologyreview.com/news/506466/given-tablets-but-no-teachers-ethiopian-children-teach-themselves/

So, how does it feel to be a believer?

GMU is one of the foremost feeder institutions to Washington DC.  It is well respected inside the beltway.  This will be read and attended to by folks that make decisions, whether and how they follow any of it is anyone's guess.

I sold, it went down, i bought

thats how you make money off FTC/BTC  

I still think FTC is undervalued, not going to put more money into it right now tho, but if it goes to 0 i'll buy the bag...

5) Ultimate believers that measure all their gains and losses in bitcoins and are hell-bent on increasing their bitcoin balance in every opportunity. "Selling" in their terminology is obtaining more bitcoins and USD is only relevant in the timing of gaining more coins.

Not sure why people are pretending Gox doesnt matter? I guess most of you are watching your $ value take a huge drop?

Gox volume is 100% real. China is not.

A 10k sell is nothing to scoff at.

Updated: 2014-01-13
Chinese C2C e-commerce website Taobao.com formally published an online notice stating that starting from January 14, 2014, the website will ban the sale of Bitcoins as well as Bitcoin mining machines.

Taobao.com said that based on the related regulations and policies of China, the company will adjust its prohibited product management practices accordingly, adding virtual currencies like Bitcoin and Litecoin to its prohibited product category. Meanwhile, related products, including Bitcoin mining guidance and Bitcoin mining hardware and software, will all be banned on the website.

A spokesman from Chinese Bitcoin news site Bitebimi.com said the rush to ban the Bitcoin mining devices was a self-censorship and self-imposed decision by Taobao, as no regulation in China so far seems to directly target these types of devices. The decision to ban these devices might also point to a very large demand in these types of activities, so the ban is meant to snuff out this market in China.

The trading of virtual currencies like Bitcoin are mostly completed via professional websites instead of Taobao.com. However, Bitcoin mining machines are mainly sold on Taobao.com.

Prior to this, the People's Bank of China issued a notice that required third-party payment organizations to shut down trading channels for Bitcoin and Litecoin.

man, i wish i had some fiat ready to buy coins. 800 prices are soon over for good.

That wall is fake. And its a WEIRD place for a wall. There are no resistance lines at 530.

Someone is trying to buy in lower for the run to 550.

What do you mean?  Were you expecting us to shoot up to 550 tonight?

I think a slow methodical rise is healthier than a bunch of panic short covering and margin buying into oblivion. We are going up pretty damn fast as it is.

Good lord, man.

I believe as much as anybody we are not out of the bear market, but you can't expect us to go up at this rate (super quick) after 6 months of bear market and not have the RSI go off the charts. Its just part of a reversal (even if this is a short lived one).  We can simply retest 500 here and the RSI would drop down again and we could fire off to 530+.

Not sure what you are expecting for a "real" reversal, but the RSI can't stay low under these conditions. To compare it to the January momentum is not fair or accurate, imo.

A few lines told you all that?

@Marbit -- it was my understanding that RSI and Stochi RSI indicators are relative to what has previously occurred (their time frame for want of a better phrase), so I think what Windjc is saying is that a sudden rise within the 'environment' of a subdued bear market is always going to say 'oversold' to begin with.  Eventually, that indicator will recalibrate to reflect the circumstances of the improving market.

Jed Mcalebd unleashing hell on ripple (selling 9Bn XRP)
https://xrptalk.org/topic/2629-selling-my-xrp/

darkcoin: regular pump before it eventually fades into the abyssal alts graveyard.

Of course he could be evil, buy this opportunity to buy more. Then after buying publically announce his trick (which would make prices spike). And then dump into the elevated market (unannounced).

its gonna move up, and soon, like in a few hours soon.

If it becomes necessary every two years, I will be quite happy.

0.5 BTC, what idiot thought of using mBTC and why? it was always going to be bits, ever since new worlders started cutting up Spanish coins and calling them bits. Bitcoin reaches parody with the USD when 1 bit = $0.12. Until then it's just manic internet money, call it what you like, just make sure its registered on the blockchain.  

The confusion might be greater for someone telling you the price of a coffee in BTC.

After a few decimal places, well - it might make sense that you would want a more sensible unit to talk about, one day....

"How much is the coffee" must produce a sensible answer - so the 'units debate' is not too ridiculous.

Even if I often seem to be on the losing side of it!

This rally is all about momentum and technical chart break out, not huge inflow of $$$.  If not enough fiat gets in to support the price, we are bound to test some support lines as longs which are maxed out  will have to close before they get squeezed.

Fsck!
https://bitcointalk.org/index.php?topic=677248
http://www.coindesk.com/5000-terminals-across-ukraine-now-offer-bitcoin-cash/

So pretty much the best news we will get for now and still nothing.
What exactly will it take according to you guys who keep repeating daily we're about to go to the moon for the last 6 weeks?

That's my suspicion as well. But the daily looks an awful lot like the last bottom of the 550 level. Bullish engulfing candle, 2nd green candle, pullback on Saturday. Then it was a low volume green candle Sunday followed by a pump on Monday.

While i won't buy too much, I think ill be buying a little here and there. I use my coin on coinbase for spending purposes, then i buy back what I just spent. I think everyone should do that. Use expedia for hotels (that will be expanding) and overstock, and all others that take bitcoin. If you don't want to part with your coin, do what Im doing. Just replace it, coinbase has an automated feature for this.. quite cool.

I heard Adam talking about tuesday being the dump-day. Is that true? In my experience, Friday is the typical dump-day with every 4th Friday experiencing a surprise-rallye up. Also, weekends tend to bleed the price down, with an occasional sunday night rallye up. I haven't made up my mind about the different weekdays, though...

I agree we should be using bitcoin as much as possible and auto buying back. That also helps stabilize the price of bitcoin as well if everyone is buying back what they spend.

As far as specifically asking for discounts because we are using bitcoin is a little unfair if you ask me. We want more mainstream use of bitcoin and asking retailers for discounts (at least in the states) is a little off putting. If they choose to offer great, however we should no expect it.
Just my two cents.

It's happened many times, so I do not think it's big issue.
Just focus on Bitstamp, today people refer Bitstamp price for trade.

1. Because those perks are provided to you by the credit card company due to incredible interest rates they charge the user and the high fees they charge the retailer. It's a way for them to get you to open and keep a line of credit with them.

2. You're supporting the bitcoin ecosystem by doing so.

3. You're supporting the retailers who are accepting bitcoin and receiving the benefits of reduced to no transaction fees.

4. Most of us here are against the institution of credit, credit cards, banking, and the general practice of high interest rates, fees, and incurring debt beyond your income which forces you into using such devices to keep you in debt and keep the corrupt banking industry in billions of dollars in profits and control of most the worlds governments.

Oh and please save the "I used credit card and pay it off right away just to earn cash back/points" speech. If you actually do, you're one of a handful. Hence the billions of dollars in profits from those who don't.

What might that be?

If spreads are good scalping can be the quickest way to your first million $!

There needs to be action to invite the gamblers to play.
MtGox and it's bots, trading with large volumes of non-existent money, were a major attraction for the degenerate gamblers, who took out loans to gamble with bitcoin.

Now the volume is gone, together with the excitement.
Now the casino is slowly losing it's customers, because the casino managers have started to believe their own BS.

When some dump there is always some buyer too,
if there will be no buyer or very less buyer then price will crash in seconds.

When you read the BFX long squeeze posts, read carefully.  They usually claim that there are margin longs holding since the rally to 685, holding for MONTHS, $100+ under water + months of margin interest, and any gust of wind will cause them to collapse the exchange.

Does that make any sense?  Would you hold a losing position for months and keep paying interest, or would you close it long ago at a small loss?  Yeah, me too, I would have closed by 675.  Thee are zero active positions long above $595...I would bet my life on it.

It is FUD.

A short squeeze is more likely in the coming weeks than a long squeeze, IMHO.   There are too many people bewitched by the idea of buying coins at 420 or 480.  It won't happen.

Impressive depth on Huobi

On both sides, though. We will have to wait and see which side wins. In my opinion it's quite balanced as of now. The buying or selling pressure will have to decide about the eventual outcome.

I agree it can go either way, but those 5k bids are all on $2.60 of spread.. the 5k of asks are across $9.70

Plus there is an 8k bidwall on 3450-3400 (no idea what is beyond 3700)

I dont think I understand what you're saying.

So where are we going next guys?   

God Bless ye' patient souls.

I am very bearish in the near-term. A whale has pretty obviously set up a bid wall that is so substantial that it shouldn't be breached or tested in order to sell off his holdings in front of that wall at an artificially inflated price. However, even with that market manipulation, the wall was tested and broken leading the whale to establish a wall twice the size now. Moreover, even with what is visually an insurmountable wall, the price has nonetheless stagnated -- we normally get a pop when we know it looks like there is a floor on the market.

We daily think that accumulation going on, but we can't say surely because it's too long now.
We are stuck between 540 to 660, and this very big range.

It does NOT happen the same every week, even though there may be a pattern.  What kind of odds are you giving to your prediction... 90%?  60%? 

has anyone here tried to contact rbi for a statement?
I´ll give them a ring tomorrow morning.
Panic seems a bit ahead of actual events at the moment.

I heard a nasty little rumor about some big announcement this week. From the Winklevii.