Was only a matter of time!
"Thanksgiving day, while many of us were eating turkey, The United States Patent and Trademark Office (USPTO) published JPMorgan Chase’s (Chase) patent application 20130317984, “Method and system for processing internet payments using the electronic funds transfer network.” The application was filed with the USPTO on August 5th, 2013.
Without mentioning Bitcoin or cryptocurrencies at all for that matter, Chase appears to be building a competing centralized network to Bitcoin."
http://letstalkbitcoin.com/jpmorgan-chase-building-bitcoin-killer/1. Take the Bitcoin concept without giving credit to its developers.
2. Remove all the features that make Bitcoin successful and call it "web cash".
3. ...
4. Profit?
I have been keeping an eye on the market this week. It occurred to me that the last trap (dec 7th) was preceded by a large spread ($100+). I haven't seen such a spread since then and there have also been no traps since then. Are the traps usually preceded by large spreads? Is there some common wisdom as to what else can cause such spreads?
I have been keeping an eye on the market this week. It occurred to me that the last trap (dec 7th) was preceded by a large spread ($100+). I haven't seen such a spread since then and there have also been no traps since then. Are the traps usually preceded by large spreads? Is there some common wisdom as to what else can cause such spreads?
Spread as in the difference between exchanges?? Remember a few days ago when all the exchanges were in step with each other? That was a buy signal. As gox gets further from the pack the opportunity to perform profitable arbitrage emerges thus opening us up to a re-convergence of prices. Gox prices are high because its hard to withdrawal, and btce 's are low because its hard to deposit and hard to trust.
What I meant was the spread between the asks and the bids. Before the trap it suddenly grew out of proportions, the asks and bids became polarized. It was like a Mexican standoff before hell broke loose.
wow you desperately want to see a head and shoulder pattern eh
I would love to be correct, yes.
especially when someone said my TA was pulled from my ass?!
This may not be realised, but the pattern is there non the less.
I have near zero knowledge of this market and can tell you, your prediction is unwarranted. The first tooth in the zigzag pattern is made up to be consistent with the two following teeth. It is not consistent with the actual data. What remains is the two teeth. Your prediction amounts to "it went up a bit, down a bit more, then up a little bit less, therefore a crash will happen". I will eat my words if it goes down to 200, as you predict.
wow you desperately want to see a head and shoulder pattern eh
I would love to be correct, yes.
especially when someone said my TA was pulled from my ass?!
This may not be realised, but the pattern is there non the less.
I have near zero knowledge of this market and can tell you, your prediction is unwarranted. The first tooth in the zigzag pattern is made up to be consistent with the two following teeth. It is not consistent with the actual data. What remains is the two teeth. Your prediction amounts to "it went up a bit, down a bit more, then up a little bit less, therefore a crash will happen". I will eat my words if it goes down to 200, as you predict.
I did not predict 200. I predicted below 800 within 24 hours (about 3-4 hours ago) and said earlier that sub $500 I what I think could happen. The graph is worse case not looking at other non TA factors.
I don't expect $200 BTC but I would love to buy at that price.
Ah, I see. Fair enough. But the second graph does imply it. If it doesn't happen than the pattern you drew was not a pattern to begin with but merely a sawtooth that loosely resembled past events (again the first tooth does not reflect the data).
I think that what he means to say is that the value of a dollar has the potential to halve
