Anyone notice that risto has been quiet lately? I guess he's picked up the carpet bag and is on to his next swindle,
now that monero also proved to be a pump and dump scheme."rpietila Calling the Bottom"
https://bitcointalk.org/index.php?topic=740394.0
Sad that a few people here actually still listen to this guy.
Got some proof of this amigo?
Didn't watch the price the last 3days. What's going on?
My guess: many traders heard "three billion hedge fund will be trading on OKkoins platform" and understood that it would be trading
bitcoin. So they bought like crazy, expecting the price to go to the moon when the fund would start buying. But the rumor was not confirmed, and people are now doubting it So the traders are all selling like crazy, to cut their losses while they can.
But perhaps there will be another good rumor tomorrow, who knows.
What do you think about the BIT purchases 7.8k a couple of days ago, and recently 6k (btc).
More supply again (MtGox 200K BTC + 2nd SR auction):
Down
It always amazes me that there are panic dumps whenever an article mentions a chunk of coins being manhandled in some way. Oh no, 50,000BTC are going to be privately auctioned in a month, I better dump! Hell, with the Mt. Gox coins we don't even know if they'll be sold off or returned, and when. It certainly isn't going to be tomorrow or the next day.
It's almost as if people forget that there are
millions of BTC out there where even a marginal percentage could just show up on an exchange at any given time.
Market is more wise than any individual, it is the perfect voting system.
Whether you wanna admit it or not is your problem.
The fact is that we have confirmed increase in supply:
50k this month + 94k from SR auction.
200k from MtGox
8k from Australian police
Show me evidence for increased demand (the reason I said 'Down' is because I still see buying pressure only from the usual suspects: speculators and funds, masses are not interested at all).I don't have any official source or reliable stats to prove my statement, but I'm seeing more and more people around me getting interested in buying 'a afew of those bitcoins'. They all more or less come to me for advice since they know i've been following/speculuting (on) it for a while now.
In the last month I had 2 family members (seperately), 2 friends, a colleague and an aquintance contacting me about how/where to buy, whether it's a good time etc. Of those 6, 4 started buying recently (recommended them dollar averaging). The other 2 will probably follow soon. I'm aware that this is in no way reliable info, but it could implicate a reversal of the caring of the masses.
Then for official numbers; look at the buys of the BIT (bitcoin investment trust), the stats of local bitcoins and the growing activity on chinese exchanges. You could make the case for some momentum being build slowly. I believe the ground is fertile for another (maybe smallish) rally into the 5/6 hundies.
IMO/my guts says the rocket is slowly getting filled with fuel again, we now need something which ignites it. COIN / cyprus style situation (russia/china currency controls) / some other random bullish event for btc and things could start happening really fast.
Well this is boring. Go watch the XMR chart instead. Up 30% today
some days one altcoin rises a lot, but every day we see lots of alts going nowhere but down.
It is like gambling.
I could instead watch the guy that managed to win 1M from few dollars by winning a giant parlay
XMR is not a gamble: It's got the only viable tech for dark liquidity, and leads the market in software, liquidity, and social capital. XMR is not an "alt": It is an innovation on par with BTC in its sophistication and in its economic importance.
Monero is junk.
Stop listening to Risto and the others, they don't know what the hell they are talking about anymore.
Does "the others" include the core devs who are in contact with the xmr-devteam about the underlying technology?
BTFD!!!! beartrap spotted
This retrace won't go lower than 365, we'll be 'BOUT 3 FIDDY in no time. That's where i might be selling some
Alright people, get your triggerfinger in place! We're getting close, 265 will be the max EV BI spot
BUY BUY BUY BUY BUUUUYYYY !
this is the best price this week. 30% roi when sold at 350
Hope you guys listened. 265 it was.
Now who's ready for them 3 fiddy coins??
Solid wallflashing at stamp 5k
Solid wallflashing at stamp 5k
Buy or sell wall?
It was a bidwall, was there for about 5 seconds
Since were braking up from here, if bull volume fails were probably ending up in 160$ around double bottom
Explain how? I don't see this as a possibility at all.
If the push is not strong enough at this time more sideways action is more likely than a dump.
The way I read the market there is absolutely no incentive to sell coins below $220.
Sideways action is usually bearish.
Depends. Sideways (on falling volume, even) could either lead to a sudden break of resistance like in May, or of support, like in November.
Your guess is as good as mine, although I'm slightly leaning towards upwards, because of the sheer size of the January capitulation.
Hope so. Finex shorts at 23k. Nothing to see here.
For some reason i expect the fireworks to go right into the sky instead of burning to the ground. Can't really say why, there's multiple indicators for both directions, somehow I really think it will be up.
Wishful thinking or intuition?
i somehow refuse to believe that after so great fundamentals and difficulty x times higher than 2013 summer
"Fundamentals" of an ordinary stock are the profits and capital assets of the underlying company. When you own a stock certificate, you literally own a slice of the company, so you own a slice of its capital assets and you are entitled to a slice of their profits. The fundamentals define the long-term price of a stock, although there can be a significant speculatiive element added to it in shorter time scales.
Bitcoin has no "fundamentals". A bitcoin is like a share of a company with no product or service, no revenue, no capital assets. If you own a bitcoin you don't own any assets, and you are not entitled to any dividdends. The only thing you own is the certificate itself, whose only merit is that its current ownership is regstered in a supposedly ultra-safe registry that no government can tamper with. The only thing that fixes it price is speculation: your only hope of getting a profit out of it is finding someone who is willing to pay for it more than you paid.
There has been perhaps a billion dollars invested into mining equipment, but bitcoin owners do not own a single screw of it. The mining industry has abut 800 k$/day of revenue, and some miners still make substantial profit; but not a penny of that money will go to the bitcoin owners. More than half a billion dollars has been invested in exchanges, payment processors, and other bitcoin-related companies; but, again, bitcoin owners do not own any piece of them. On the contrary, all the revenue of miners and bitcoin-related companies will come from the pockets of those who buy bitcoins.
As for the difficulty: the market price determines the revenue of the miners, that determines the total hashpower, that determines the difficulty -- all indirectly, with substantial delays and distorted by accidents and errors of judgement. There is no reverse control channel: the difficulty has no influence whatsoever on the price.
We're (trying to) assign a value to a network here, not a stock. Fundamentals for a network are #users, #tx's (useage), development of protocol, services on that protocol (i.e. potential use cases) etc.
I like the 'land-analogy' when explaining the speculative mania surrounding bitcoin. It's like owning a piece of land which has not much going for it right now. But people consider the possibility of the land being a vibrant city one day because of the certain characteristics it posesses.
On top of that, we're watching a very cool experiment unfold; the emerging of a international, decentralised payment and monetary system. This is the first time in history. In a world with so much central bank guidance, nirp/qe etc not bad to have an alternative to our money as debt-based system. Digital currency can also proof it's right/reason of existence in a scenario where complications unfold because of this.
btw thanks for being on bitcointalk, jorge. I value your opinion and input. Clearly you're a intelligent person. I only sincerly doubt whether you'd be capable of changing you're mind/opinion when necessary
